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August 21, 2026 07:36 Oil prices hit three-week high on U.S. threats to end war Oil prices rose to more than a three-week high on Thursday following those U.S. threats of financial penalties aimed at forcing an end to a nearly six-month-old war that has stranded millions of barrels of oil. Source link
Iran’s Foreign Minister Abbas Araghchi told reporters that negotiations with Oman about “new maritime routes” on the Strait of Hormuz were in the final stages but “this, however, does not mean that the Strait of Hormuz will reopen.” That step requires conditions that “have been conveyed through intermediaries.” The Supreme National Security Council on Saturday…
The UAE accused Iran of targeting a tanker belonging to its state-owned oil company in the Strait of Hormuz, even as both Iran and Oman suggested talks on administering the vital waterway were progressing. Iran has imposed an effective blockade of the strait and wants to charge users for passage, repeatedly attacking ships it accuses…
Civilians carry coffins draped in the Iranian flag in Mosul, Iraq | Photo Credit: AP After 156 days of war and one Memorandum of Understanding between Iran and U.S., President Donald Trump on Sunday (August 2, 2026) said the American forces have called off military strikes against Iran on the request of Gulf allies. Mr….
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Saudi Crown Prince Mohammed bin Salman, the kingdom’s de facto leader, in a phone call with President Donald Trump raised concerns about the U.S. potentially escalating the conflict with Iran, according to a person familiar with the leaders’ discussion. The discussion, which was first reported on by Axios, comes as Mr. Trump weighs whether to…
Trump says U.S. ‘not finished’ as Iran widens attacks President Donald Trump warned that the United States was “not finished” attacking Iran as strikes continued on Tuesday, as Tehran broadened its offensive against Gulf states after its Houthi allies threatened to blockade Saudi ports. Two weeks after fighting resumed between the decades-old foes, Mr. Trump…
Read More “West Asia war LIVE: Trump says ‘not finished’ attacking Iran” »
Mourners stand next to a portrait of Iran’s late Supreme Leader Ayatollah Ali Khamenei, who was killed on February 28 in Israeli and U.S. airstrikes, during a funeral procession on the day of his burial, in Mashhad, Iran, July 9, 2026. | Photo Credit: Reuters Iran on Friday (July 10, 2026) laid to rest its…
Read More “West Asia war LIVE: Iran buries Khamenei after new fighting with U.S. erupts” »
Oil and gas supplies could take months to return to normal after Iran deal, energy experts say High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced on Sunday (June 14, 2026). It will likely take months…
OPEC on Thursday (June 11, 2026) lowered its forecast for world oil demand growth in 2026 to 970,000 barrels per day, the producer group said in its monthly report, marking the second straight downward revision. The group continues to see a smaller impact on consumption since the Iran war started than other forecasters such as…
Read More “West Asia War LIVE: Trump cancels Iran strikes, touts imminent deal” »
Oil prices were up more than $2 a barrel on Monday (June 8, 2026) after Israel on Sunday (June 7) launched renewed strikes on Lebanon despite a truce between the two countries, eroding hopes for an end to the wider war and a restart to crude flows through the Strait of Hormuz. U.S. crude futures…