The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren’t signaling plans to increase production to bring down prices at the pump.
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Iran’s Revolutionary Guard says ships can now pass through the Strait of Hormuz
Iran’s Revolutionary Guard says safe passage through the Strait of Hormuz will be provided after President Trump said he was pausing a U.S. military-guided effort to let merchant vessels through.
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The UAE says Iran resumes attacks as the U.S. moves to reopen the Strait of Hormuz
The U.S. military said it helped two merchant ships transit the Strait of Hormuz, and the United Arab Emirates said it was fending off Iranian missiles and drones.
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Trump gives the go-ahead for a major new Canada-U.S. oil pipeline
More state and federal approvals are needed for the 3-foot-wide Bridger Pipeline Expansion, which would stretch from the Canadian border with Montana down through eastern Montana and Wyoming, where it would link up with another pipeline.
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Beer cans, helium balloons and mortgages: An unexpected mix of things affected by the war
It’s not just oil and gas that are affected by the Iran war. All sorts of shortages and price spikes are starting to pop up that stand to affect people’s daily lives.
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Countries agree to a historic release of stockpiled oil to ease global disruption
Members of the International Energy Agency have announced a coordinated release of 400 million barrels of stockpiled oil in an attempt to counter the disruption in oil trade triggered by the Iran war.
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Oil surges to its highest price since 2023, and stocks drop after U.S. jobs report
Stocks fell Friday on worries that the economy could become stuck in a worst-case scenario of stagnating growth and high inflation. Oil prices touched their highest levels since 2023 after surging again because of the Iran war.
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WATCH: How traffic dried up in the Strait of Hormuz since the Iran war began
The effective closure of the Strait of Hormuz is “about as wrong as things could go” for global oil markets. Iran achieved it not with a naval blockade, but with cheap drones.
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Oil prices surge amid fears over Iran war
Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.
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Venezuela’s oil revival brings hope but little relief for workers
As U.S. sanctions ease and oil money begins to trickle back after Nicolás Maduro’s removal, Venezuelans weigh hopes for recovery against the harsh reality of surviving on wages that barely cover food.
