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Oil

Latest news about the key commodity driving global economies, markets and energy policies

An Israeli bombardment in southern Lebanon viewed from the Upper Galilee in northern Israel. The Middle East conflict continues to push up oil prices. AFP

Oil prices heading for weekly gain amid renewed fighting in Middle East

EnergyJune 05, 2026

Syrian Foreign Minister Asaad Al Shibani, right, meets Algerian President Abdelmadjid Tebboune in Algiers. Photo: Sana

Syrian Foreign Minister Al Shibani arrives in Algiers for ice-breaking visit

MENAJune 04, 2026

Airlines have been working to ensure they have enough supplies of jet fuel. Getty Images

How a Cold War relic allowed newcomer to jet fuel market to keep planes flying

EuropeJune 04, 2026

A crude oil tanker unloads at the oil terminal of the port in Qingdao, in China’s eastern Shandong province on April 28, 2026. China has managed to cut its petroleum purchases substantially. AFP

Beijing way: China is quietly calming global oil markets

EnergyJune 01, 2026

A Sea Hawk helicopter lands on the USS Milius. US choppers have been used to scare Iranian fast boats away from shipping tankers. Photo: Centcom

01:53

Dozens of ships escape Strait of Hormuz with US help

EnergyMay 31, 2026

UAE fuel prices increased by more than 40 per cent between March and May. The National

Lower prices to offer long-term relief despite UAE petrol costs rising in June

EnergyMay 30, 2026

Vessels anchored at the Strait of Hormuz, as seen from Musandam, Oman. The slip in oil prices comes as traders bet that the US and Iran will eventually agree to reopen the key waterway. Reuter

Oil prices log steepest weekly loss since April on potential US-Iran peace deal

EnergyMay 29, 2026

Petrol prices remain elevated amid the uncertainty over the US-Iran war and the slump in oil prices. AFP

Oil prices slide on hopes of Strait of Hormuz reopening within month

EnergyMay 27, 2026

A crude oil tanker anchored at the terminal Kozmino in Nakhodka Bay near the port city of Nakhodka, Russia. Reuters

Sanctions and blockades are creating a confused tangle in oil markets

EnergyMay 25, 2026

Indian Prime Minister Narendra Modi, right, receives US Secretary of State, Marco Rubio. Photo: Narendra Modi

00:28

Rubio holds talks with Modi in Delhi as US pushes to stabilise relations with India

USMay 23, 2026

An oil tanker in the Strait of Hormuz. Reuters

Financial markets 'losing billions' in Middle East oil tanker pricing feud, court hears

UKMay 22, 2026

A Russian national flag and a Lukoil flag fly above the oil company's headquarters in Moscow. AFP

Russia sees rising oil revenue on Iran war energy shock

EnergyMay 22, 2026

The oil and gas discovery was made by a joint venture between Egyptian and Italian companies. Reuters

Egypt announces biggest Western Desert energy discovery in 15 years

EnergyMay 21, 2026

In Tehran, an anti-US billboard shows President Donald Trump and the Strait of Hormuz. Reuters

Oil prices slide 5% as Trump says the Iran war will end 'very quickly'

MarketsMay 20, 2026

Ships remain anchored on in the Strait of Hormuz near Larak Island, Iran. Getty Images

Hormuz disruption is forcing Gulf transit towards pipelines and rail

EnergyMay 17, 2026

The pipeline is aimed at reinforcing the UAE's position as a reliable global energy supplier

UAE's West-East pipeline expansion to become operational in 2027

EnergyMay 15, 2026

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