Oil – Page 2 – War Watch

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Saudi Aramco profits jump despite conflict in Middle East
ByLauren Almeida May 10, 2026

Saudi Arabia’s state oil company’s profits up 26% to £26.9bn in first three months of yearBusiness live – latest updatesSaudi Arabia’s state oil company reported a 26% jump in profits in its first quarter as its east-west pipeline allowed it to ship mi…

Read More Saudi Aramco profits jump despite conflict in Middle East
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Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal
ByLauren Almeida May 6, 2026May 6, 2026

US president says war will end if Tehran agrees to deal, but that ‘bombing starts’ again if it does notOil prices fell and stock markets rose as Donald Trump said the war with Iran would end and the strait of Hormuz would be “open to all” if Tehran str…

Read More Oil prices fall as Trump says strait of Hormuz ‘open to all’ if Iran accepts deal
Ayatollah Ali Khamenei | Benjamin Netanyahu | Business | Commodities | Donald Trump | Energy industry | Gaza | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Oil and gas companies | Palestinian territories | Petrol prices | Strait of Hormuz | US politics | US-Israel war on Iran | World news

Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again
ByPatrick Greenfield May 6, 2026

In today’s newsletter: The brief US effort to steer trapped vessels through the waterway put the fragile ceasefire under strainGood morning. Uncertainty once again reigns in the Middle East. The uneasy ceasefire between the US and Iran threatened …

Read More Wednesday briefing: How Trump’s attempt to reopen to strait of Hormuz brought war closer again
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Totally grounded? How the jet fuel crisis could change our summer holidays – and world history
ByZoe Williams May 6, 2026

Jet fuel has doubled in price since the start of the war on Iran. How bad will the disruption get and could this accelerate the route to jet zero?What happens to flights if the world runs out of oil? Well, obviously they will be grounded. To be more sp…

Read More Totally grounded? How the jet fuel crisis could change our summer holidays – and world history
Ayatollah Ali Khamenei | Benjamin Netanyahu | Business | Commodities | Donald Trump | Energy industry | Gaza | Global economy | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Opec | Palestinian territories | Petrol prices | United Arab Emirates | US-Israel war on Iran | World news

Could the UAE’s shock exit from Opec cause an oil price war?
ByJillian Ambrose April 30, 2026

A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to comeThe conflict in the Middle East has claimed Opec as the latest casualty of war. The United Arab Emirates’ shock exit from the oil cartel …

Read More Could the UAE’s shock exit from Opec cause an oil price war?
Ayatollah Ali Khamenei | Benjamin Netanyahu | Business | Donald Trump | Gaza | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Palestinian territories | Petrol prices | Strait of Hormuz | US foreign policy | US news | US-Israel war on Iran | World news

Iran supreme leader issues defiant statement on strait of Hormuz
ByPatrick Wintour Diplomatic editor April 30, 2026

Mojtaba Khamenei says Tehran will eliminate ‘enemy’s abuses of the waterway’ and guard its nuclear and missile programmesUS politics live – latest updatesIran’s supreme leader has broken his recent silence with a defiant statement hailing Iran’s contro…

Read More Iran supreme leader issues defiant statement on strait of Hormuz
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Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
ByMark Saunokonoko April 30, 2026April 30, 2026

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps strait of Hormuz all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump sa…

Read More Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
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The Guardian view on the UAE quitting Opec: whatever importers pay, the price of fossil fuels is too high | Editorial
ByEditorial April 29, 2026

The world must accelerate the shift to renewables, regardless of the economic effects of Abu Dhabi’s decisionOpec appears to be the latest casualty of the Iran war. On Tuesday, the United Arab Emirates announced that it was leaving the oil cartel after…

Read More The Guardian view on the UAE quitting Opec: whatever importers pay, the price of fossil fuels is too high | Editorial
Ayatollah Ali Khamenei | Benjamin Netanyahu | Business | Donald Trump | Gaza | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Opec | Palestinian territories | Petrol prices | Saudi Arabia | Trump administration | United Arab Emirates | World news

How the UAE’s decision to leave Opec could recast the Middle East
ByPatrick Wintour Diplomatic editor April 28, 2026

Defection is damaging to Saudi Arabia’s prestige – and could strengthen the US hand in the regionThe United Arab Emirates’ decision to walk out of Opec is a political as much as business decision, and will reignite the simmering rows between the UAE an…

Read More How the UAE’s decision to leave Opec could recast the Middle East
Ayatollah Ali Khamenei | Benjamin Netanyahu | Business | Donald Trump | Gaza | Iran | Iran's nuclear programme | Israel | Israel–Iran War | Middle East and north Africa | Nuclear weapons | Oil | Opec | Palestinian territories | Petrol prices | Saudi Arabia | Strait of Hormuz | UK news | United Arab Emirates | US news | US-Israel war on Iran | World news

UAE quits Opec in win for Trump as oil cartel weakened
ByReuters April 28, 2026April 28, 2026

US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil pricesThe United Arab Emirates has quit the Opec oil cartel after 60 years of membership, in a heavy blow to the group and its de facto leader, Saudi Arabia, …

Read More UAE quits Opec in win for Trump as oil cartel weakened