The Latest Breaking News from Oil

The weekend attacks on Iran’s oil facilities – widely seen as part of escalating hostilities between Israel and Iran – represent a dangerous moment for global energy security.

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Eyewitnesses in Jerusalem reported seeing rockets streak across the sky, while emergency teams responded to damaged residential buildings in coastal and northern districts.

Iranian lawmaker says Tehran considering closing waterway, described as ‘world’s most important oil transit chokepoint’.

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An Iranian lawmaker said closure of the Strait of Hormuz, a critical chokepoint in the global energy trade, was under serious consideration.

The latest escalation in tensions between Israel and Iran is arguably the most significant among a slew of flare ups, involving both state and non-state actors, in West Asia in the last two years. Even if these conflicts have been seen as the spillover of the Gaza conflict, each one…

Analysts warn that targeting Iran's oil production and export facilities could drive prices to $80-$100 per barrel, leading to historic pump price increases in import-dependent nations like Turkey and Spain.