US Energy Secretary Chris Wright testifies before a Senate Committee on Armed Services Committee hearing to examine the 2027 budget for the Department of Energy and National Nuclear Security Administration on Capitol Hill in Washington, DC, on May 13, 2026. Jim Watson | Afp | Getty Images U.S. Energy Secretary Chris Wright on Sunday said…
Satellite view of Kharg Island, located in the Persian Gulf off the coast of Iran. Gallo Images | Gallo Images | Getty Images U.S. forces struck three Iranian crude oil carriers Saturday after U.S. Central Command said the Islamic Revolutionary Guard Corps launched ballistic missiles toward two Navy warships in the region. CENTCOM said it…
Oil prices rose Wednesday after the U.S. and Iran traded military strikes, ending weeks of relative calm in the Middle East, as they contest control of the Strait of Hormuz. Brent crude futures, the international benchmark, were up 1% to $95.57 per barrel. U.S. West Texas Intermediate traded nearly 1% higher at $90.88 per barrel. The U.S….
Iranian-made Zolfaghar missiles are displayed at Azadi Square in Tehran on August 2, 2026. Atta Kenare | Afp | Getty Images U.S. forces completed another wave of strikes against Iran late Tuesday stateside, hitting multiple sites across the country, in a renewed exchange of fire between the warring parties after a nearly month-long hiatus. In…
Drivers in the U.S. won’t see lower gas prices from President Donald Trump‘s massive oil deal with Venezuela because it will take years to significantly boost the country’s production, experts say. Trump announced Friday that the U.S. secured majority control over 65 billion barrels of Venezuela’s proven oil reserves, around 20% of the 303 billion…
An Iranian flag flutters in the wind as ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Majid Saeedi | Getty Images News | Getty Images The escalation in hostilities between the U.S. and Iran over the weekend shows the U.S. is running out of patience with the…
Vessels are seen in the Strait of Hormuz, off the port city of Bandar Abbas in southern Iran on August 10, 2026. Atta Kenare | Afp | Getty Images Oil rose Monday, amid heightened concerns over supply disruptions after U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday. Futures for international benchmark…
A UAE navy ship sails next to a cargo ship in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. Altaf Qadri | AP Iranian trade has fallen sharply under U.S. sanctions and a naval blockade, President Masoud Pezeshkian said, as Supreme Leader Mojtaba Khamenei urged a reduction…
Iranian crude oil exports have plunged in August as the U.S. relies on economic pressure through its naval blockade, rather than military strikes, to coerce Tehran into a deal to fully reopen the Strait of Hormuz. Tehran has loaded about 260,000 barrels per day for export at its ports so far this month, a decline…
Drone view of oil tanker HELGA berthed at one of Iraq’s southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. Mohammed Aty | Reuters Oil prices fell Monday as investors awaited details of what…
