Middle East
News
June 21, 2026
Despite Iran's announcement that the Strait of Hormuz is closed, millions of barrels of crude continue to move through the critical shipping lane. The conflicting signals highlight the uncertainty still facing global oil markets as U.S.-Iran negotiations get underway.
News
June 19, 2026
After months of disruption, oil and LNG shipments are beginning to flow through the Strait of Hormuz again, helping push Brent crude back toward $80/bbl. But questions remain over shipping rules, insurance requirements and long-term U.S.-Iran negotiations.
News
June 19, 2026
Iran has shipped an estimated 20 million barrels of crude oil this week from the port of Chabahar, signaling a rapid return of exports following the interim U.S.-Iran agreement and adding fresh supply to global oil markets.
News
June 18, 2026
Oil and LNG shipments through the Strait of Hormuz accelerated after the U.S.-Iran agreement took effect, with Saudi, Qatari and UAE cargoes resuming transit as producers and shipowners begin testing the reopening of the critical energy corridor.
News
June 17, 2026
President Trump said the interim U.S.-Iran agreement could be signed within days, bringing the reopening of the Strait of Hormuz one step closer and reinforcing expectations for increased Gulf oil exports and lower crude prices.
News
June 17, 2026
The IEA has cut its 2026 oil demand forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as Middle East disruptions, higher fuel prices and tighter product markets weigh on demand.
News
June 17, 2026
Iraq is preparing to increase crude exports from its southern ports as a U.S.-Iran agreement to reopen the Strait of Hormuz approaches, with state marketer SOMO coordinating tanker nominations and export logistics ahead of a gradual recovery in Gulf oil flows.
News
June 16, 2026
ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity.
News
June 16, 2026
Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply following the U.S.-Iran agreement to reopen the Strait of Hormuz. Analysts lowered price forecasts as expectations grew for a recovery in Persian Gulf exports.
News
June 15, 2026
Oil prices moved lower Monday as traders assessed the U.S.-Iran agreement to reopen the Strait of Hormuz, with uncertainty remaining over how quickly shipping traffic and crude exports can return to normal.
News
June 14, 2026
A breakthrough agreement between Washington and Tehran aims to restore oil flows through the Strait of Hormuz and restart broader negotiations over Iran’s nuclear program.
News
June 11, 2026
Oil prices fell nearly 4% after President Trump abruptly canceled planned strikes against Iran and signaled progress toward a potential agreement, easing immediate concerns over Kharg Island and Persian Gulf oil exports.
News
June 11, 2026
President Trump threatened additional strikes against Iran and raised the prospect of targeting Kharg Island, the country's primary oil export hub, escalating concerns over global crude supplies and the future of energy flows through the Persian Gulf.
News
June 11, 2026
Even as flows through the Strait of Hormuz gradually improve, Enverus warns the damage to global oil inventories may already be done. New modeling suggests OECD stocks could fall to a 20-year low, keeping Brent above $100/bbl well into 2027.
News
June 10, 2026
WTI crude settled above $91 per barrel after President Trump warned of possible new strikes against Iran and U.S. government data showed a larger-than-expected draw in crude inventories, adding to concerns over global oil supplies.
News
June 10, 2026
An oil tanker linked to previous Iranian crude shipments reported a fire while transiting the Gulf of Oman, prompting responses from maritime security agencies and raising fresh concerns about shipping security near the Strait of Hormuz.
News
June 07, 2026
Peace talks between the U.S. and Iran remain deadlocked 100 days into the conflict, while renewed military exchanges and continued disruptions in the Strait of Hormuz keep pressure on global oil markets and regional energy infrastructure.
News
June 03, 2026
Fresh military exchanges between the U.S. and Iran are placing new strain on a fragile ceasefire and raising uncertainty around negotiations aimed at reopening the Strait of Hormuz and restoring regional energy flows.
News
June 03, 2026
Kuwait is evaluating expanded overseas oil storage capacity and alternative export routes after disruptions linked to the Iran war highlighted the country's dependence on the Strait of Hormuz for crude exports.
News
June 03, 2026
Aramco has selected McDermott for a long-term project management consultancy agreement supporting energy, petrochemical and low-carbon developments across Saudi Arabia, strengthening the contractor's role in the Kingdom's future project portfolio.
News
June 02, 2026
Despite ongoing U.S.-Iran negotiations, commercial shipping traffic through the Strait of Hormuz remains sparse, highlighting continued uncertainty over when energy flows may begin returning to normal.
