oil

Just four vessels cross Hormuz as oil crisis deepens

Iran rejects US talks as attacks intensify and Brent crude stays above $108

3m read

A vessel lies anchored in the Strait of Hormuz off Bandar Abbas, Iran. Commodity-vessel traffic through the strategic waterway fell to just four transits on Monday as regional attacks intensified.

Drones hit 2 fishing boats off Iran, fishermen missing

Fishermen missing after drone attack near Kargan and Larak Island

Two fishing boats targeted in drone attack off Iran

Pakistan fuel relief could cost Rs30b a month

PM orders government to find additional funds to finance the new fuel relief programme

Two- and three-wheelers will qualify for subsidised petrol of up to 20 litres a month, while cars of up to 800cc will receive the discount on a maximum of 30 litres a month.

Oil above $100 as Red Sea threat hits Asia routes

Tankers face month-long detours as Asian refiners seek alternatives, freight costs rise

Perim or Mayum is a small island with enormous strategic value: it sits in the middle of Bab al-Mandab, the narrow gateway between the Red Sea and the Gulf of Aden.

Hormuz, Red Sea squeeze: How will oil get through?

Brent above $100 as Hormuz squeeze and Iran-backed Houthi gains threaten vital oil routes

Oil tankers navigate a key shipping route as disruptions put pressure on global energy flows. Illustrative image

Iran strikes ships, expands no-go zone outside Hormuz

Iran widens maritime ‘prohibited zone’ as clash with US sends oil above $100

A screen grab from US Central Command footage shows a strike on an oil tanker linked to Iran’s Revolutionary Guards, as attacks on shipping open a dangerous new phase in the battle over the Strait of Hormuz.

Why US oil refiners are not rushing to build new plants

With refineries near full capacity, Trump’s call for more gasoline runs into hard limits

The US refining squeeze is part of a much larger global problem. Millions of barrels per day of refining capacity are reportedly offline across Asia, the Middle East and Russia, either because of damage from the conflict, maintenance or other disruptions.

US-Venezuela oil deal redraws global energy power

The pact tests sovereignty, energy security and the limits of state-backed investment

Venezuela's interim President Delcy Rodriguez (R) during the signing of an oil agreement with US Energy Secretary Chris Wright (unseen) at the Miraflores Presidential Palace in Caracas on September 2, 2026.

UAE, Saudi Arabia back Philippines’ fuel security

The Gulf oil producers have offered to fund storage facilities using their own resources

The Philippines has already submitted a concept note sought by Saudi Arabia, while the UAE would be the next country approached formally. Photo for illustrative purposes only

Trump to squeeze Iran: But first he must take on China

Trump’s ‘economic D-Day’ puts Beijing at the heart of Washington’s new Iran offensive

Chinese President Xi Jinping is expected in Washington next month for his first state visit in more than a decade, according to The New York Times.

80% of Hormuz traffic ‘dark’ as US flips Iran playbook

US-protected ‘dark’ tankers keep millions of barrels flowing, easing oil prices

An oil tanker sails at night. Tankers are increasingly switching off tracking signals while transiting the Strait of Hormuz as part of efforts to keep Gulf oil flowing despite Iranian attacks.

US says sanctions will ‘collapse’ Iran regime

Treasury Secretary says countries must choose between supporting US or facing consequences

Secretary of the Treasury Scott Bessent speaks to members of the press outside the West Wing at the White House on August 20, 2026 in Washington, DC.

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