It sounds utterly reckless, almost suicidal for global stability: blocking the Strait of Hormuz would deal a devastating blow ...

The government has no say in where the country's refiners source oil from because these are commercial transactions, the ...

The Strait of Hormuz is identified as one of the world's most critical oil chokepoints, with a staggering volume of oil passing through it annually.

The U.S. Energy Information Administration (EIA) has slashed its Brent crude oil price forecast. In its August Short-Term Energy Outlook, it expects global oil prices to fall from $71 per barrel in ...

"If the U.S. is bent on imposing tariffs, China will fight to the end, and this is China's consistent official stance," said ...

As Iranian threats to close the Strait of Hormuz grew louder over the weekend, UAE quietly loaded its first cargo on Sunday from its long-awaited new oil export terminal on the Gulf of Oman ...

The Strait of Hormuz handles around 20 million barrels of crude oil per day — nearly one-fifth of global daily consumption. A closure would cripple oil exports from key Gulf producers including ...

Oil futures surged on Sunday night after US strikes on Iran’s three main nuclear sites intensified fears of a potential supply shock, amid growing concerns that Tehran could retaliate by closing ...

The Chinese economy benefits from the more than 1 million barrels of Iranian oil it imports per day. After the Iranian parliament floated a plan to shut down the Strait of Hormuz in June following U.S ...

The Ministry of Investment, Trade and Industry (MITI) said the recent Iran-Israel armed conflict led to a surge in global oil prices, which in turn increased the cost of raw materials and logistics.

Mohammed Al-Bashir is scheduled to meet with officials in Baghdad to discuss rehabilitating the 850-kilometer pipeline connecting Iraq’s Kirkuk province with the Syrian port of Baniyas. Al-Bashir, ...