Oil (Petroleum) and Gasoline – Page 20 – War Watch

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What Is the Strait of Hormuz and Why Is Iran Blocking It?
ByThe New York Times March 12, 2026March 13, 2026

With attacks and threats, Tehran is using the world’s most important transit point for oil and gas as leverage against its enemies.

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Iran Is Laying Mines in the Strait of Hormuz, U.S. Officials Say
ByJulian E. Barnes March 12, 2026

A fifth of the world’s oil passes through the strait, making it a critical choke point in global commerce.

Read More Iran Is Laying Mines in the Strait of Hormuz, U.S. Officials Say
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New Iranian Leader Vows to Keep Global Oil Gateway Blocked
ByYeganeh Torbati, Sanam Mahoozi and Thomas Fuller March 12, 2026

Oil prices surged on Thursday after ships came under attack in the Persian Gulf, and Iran’s supreme leader vowed revenge for U.S. and Israeli airstrikes.

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Mojtaba Khamenei, Iran’s New Supreme Leader, Says Strait of Hormuz Must Remain Closed in Defiant Statement
ByYeganeh Torbati and Sanam Mahoozi March 12, 2026March 12, 2026

Mojtaba Khamenei struck a defiant tone and signaled that Iran would not back down in a war that has spread across the Middle East.

Read More Mojtaba Khamenei, Iran’s New Supreme Leader, Says Strait of Hormuz Must Remain Closed in Defiant Statement
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Iran War Causing Largest Ever Oil Disruption, I.E.A. Says
ByEshe Nelson March 12, 2026March 12, 2026

Conflict is forcing producers to slash production and close ports as Iran steps up attacks on energy infrastructure.

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Iran’s Naval Mines: A History of Threats to Persian Gulf Shipping
ByFrancesca Regalado March 12, 2026March 13, 2026

The United States said this week that it had attacked 16 Iranian mine-laying vessels near the Strait of Hormuz. In the 1980s, Iranian mines damaged oil tankers and a U.S. Navy warship.

Read More Iran’s Naval Mines: A History of Threats to Persian Gulf Shipping
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Deadly Attack on Oil Tankers Prompts Iraq to Close Oil Terminals
ByJohn Yoon and Erika Solomon March 12, 2026March 12, 2026

An attack off the Iraqi coast engulfed two oil tankers in flames, killing at least one person. Senior Iraqi officials believe the attack was Iranian.

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U.S. to Release 172 Million Barrels of Oil From Strategic Reserves, Energy Dept. Says
ByRebecca F. Elliott March 12, 2026March 12, 2026

The move aims to prevent prices from rising further because of the war in the Middle East.

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Countries Scramble to Shore Up Global Oil Supplies as Ships Are Attacked
ByRebecca F. Elliott, Abdi Latif Dahir, Eric Schmitt and Michael Levenson March 11, 2026March 12, 2026

The United States and Israel launched more strikes against Iran, where crowds mourned military commanders killed in the war. Israel also bombed targets in Lebanon, where the death toll climbed.

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World Leaders Will Release 400 Million Barrels of Oil to Stabilize Prices
ByRebecca F. Elliott, Hisako Ueno and Jim Tankersley March 11, 2026March 11, 2026

The members of the International Energy Agency will release 400 million barrels of oil, the largest such coordinated action on record.

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