Middle East
News
April 09, 2026
Oil flows through the Strait of Hormuz are expected to recover slowly following the U.S.-Iran ceasefire, with millions of barrels stranded in the Gulf and shipping, insurance and geopolitical risks continuing to limit transit.
News
April 09, 2026
Egypt has agreed to purchase the full output of Cyprus’ Aphrodite gas field under a long-term deal, securing future supply as domestic production declines and demand continues to rise.
News
April 08, 2026
Oil and gas prices dropped sharply after a U.S.-Iran ceasefire deal, but the market remains on edge as Strait of Hormuz flows are still largely restricted. With more than 800 vessels stranded and supply disruptions lingering, the pace of recovery remains highly uncertain.
News
April 08, 2026
A U.S.-Iran ceasefire agreement is set to reopen the Strait of Hormuz, easing supply concerns and triggering sharp declines in oil and natural gas prices, though uncertainty remains over safe transit and the truce’s durability.
News
April 08, 2026
ExxonMobil reported a 6% drop in global production in the first quarter as Middle East conflict disrupted Gulf operations, including damage to LNG facilities in Qatar.
News
January 13, 2026
ELITE Oil & Gas has acquired EUTEX’s hazardous-area training business, expanding CompEx and IECEx-certified training services across Asia and the Middle East.
News
April 07, 2026
U.S. strikes near Iran’s Kharg Island, coupled with President Trump’s threat of wider attacks, are raising fresh concerns over global oil supply as tensions around the Strait of Hormuz persist.
News
April 07, 2026
Eni has discovered an estimated 2 Tcf of gas offshore Egypt, with the Denise W-1 well located near existing infrastructure—positioning the project for fast-track development and reinforcing Eastern Mediterranean supply potential.
News
April 06, 2026
Qatar LNG tankers have diverted routes as transit through the Strait of Hormuz remains constrained, highlighting ongoing disruption to global energy flows.
News
April 06, 2026
Masirah Oil plans to begin drilling three development wells at the offshore Yumna field in Oman’s Block 50, advancing production activity in the area.
News
March 31, 2026
Tensions in the Strait of Hormuz escalated after a tanker was struck and President Trump urged allies to secure the waterway, heightening risks to global oil and LNG flows as shipping disruptions threaten supply and energy markets.
News
March 30, 2026
WTI crude settled above $100 per barrel for the first time since 2022, as the Iran conflict and disruptions in the Strait of Hormuz tighten global oil supply, raising concerns over inflation, shipping constraints and further upside risk for energy prices.
News
March 30, 2026
The G-7 signaled it is prepared to take coordinated action to stabilize global oil and gas markets as the Iran conflict drives volatility, with officials reaffirming support for strategic reserves, secure supply flows and measures to limit disruptions to energy trade and pricing.
News
March 30, 2026
President Trump threatened to target Iran’s oil infrastructure, power plants and Kharg Island export hub if a deal to reopen the Strait of Hormuz is not reached, raising the risk of further escalation as disrupted shipping continues to tighten global oil markets.
News
March 27, 2026
As the Middle East conflict continues to disrupt global oil and LNG flows, panelists at CERAWeek by S&P Global pushed back on two questions gaining traction in energy circles: why doesn’t the U.S. simply intervene with force to reopen the Strait of Hormuz, or seize Iran’s Kharg Island export hub?
News
March 27, 2026
The UAE is increasing crude exports from Fujairah as operators restore loading capacity following Iranian drone strikes, using the port as a key route to bypass the Strait of Hormuz and sustain global oil flows.
News
March 26, 2026
A Turkish-operated tanker carrying roughly 1 MMbbl of Russian crude was damaged in a suspected sea-drone attack in the Black Sea, raising concerns over maritime security and energy flows near the Bosphorus Strait.
News
March 26, 2026
Iran is maintaining crude exports near 1.6 MMbpd and capturing stronger prices as disruptions in the Strait of Hormuz sideline other Gulf producers, reshaping regional supply dynamics and boosting Tehran’s oil revenues.
News
March 25, 2026
Saudi Arabia is ramping crude exports from its Yanbu terminals on the Red Sea, targeting 5 MMbpd as it diverts flows away from the disrupted Strait of Hormuz using the East-West pipeline.
News
March 25, 2026
“You just can’t take 8-to-10 MMbpd off the market, and 20% of LNG supply, and not expect instability,” ConocoPhillips Chairman and CEO Ryan Lance said on Tuesday at CERAWeek by S&P Global, underscoring the scale of the current supply shock hitting global energy markets.
News
March 24, 2026
Disruptions through the Strait of Hormuz are driving a more persistent inflationary shock, with Brent crude forecast to average $88/bbl in Q2 and recession risks rising, according to EY-Parthenon.
