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Geopolitics news
Headlines from energy, shipping, agriculture and government sources, newest first, with duplicates removed. Headlines open the original story.
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The Iran war is deepening the US energy crisis. A bad winter is ahead | Mark Wolfe
Congress must act to ensure that families are able to heat their homes before the start of the season Heating oil may be the clearest warning yet of how the war in Iran is deepening the US’s energy affordability crisis. Families…
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Japan to Tap $7 Billion from Government Fund to Subsidize Gasoline Prices
Japan’s government on Friday decided to tap $7 billion from its contingency reserves to keep subsidies for gasoline and other fuels, even as it plans to gradually scale back the support from December. The Japanese government…
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Logistics CEO: Hormuz rerouting will raise consumer prices
DP World CEO Yuvraj Narayan warned prolonged Strait of Hormuz disruption is raising logistics costs and could drive consumer prices higher worldwide.
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Whistleblowers Claimed Key Oil Tanker Rate Was Manipulated
The Baltic Exchange has received two whistleblowing claims of attempted manipulation of the world’s benchmark tanker rate since the beginning of the war in Iran, according to documents made public as part of a major legal battle…
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Tanker in Strait of Hormuz Hit by Limpet Mines, Security Sources Say
A small boat attached two limpet mines to the hull of a tanker in the Strait of Hormuz causing a fire in its engine room and temporarily disabling the vessel, in the first successful use of such explosives in the waterway since…
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Eni Reactivates 'Supergiant' Venezuelan Oilfield
Junin-5 restarted operations following the execution of the new license between Eni and Venezuela, under which the heavy oil field is planned to increase production to 200,000 barrels per day by 2028.
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Brent Hits $117 as Tanker Catches Fire in Strait of Hormuz
Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz. The UK Maritime…
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Oil prices increase as attacks on shipping ramp up
Brent crude climbed 2.5% to $113.51 a barrel. Brent remains near the high end of its range since the war with Iran began.
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BP profits hit 18-year high as Iran war drives up oil refining margins
Oil giant hails ‘banner quarter’ as earnings reach $8.46bn, prompting anger from climate campaigners BP’s profits have hit their highest level in almost two decades as the war in the Middle East drove up oil and gas prices and…
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Chevron and Exxon beat earnings expectations as refining profits soar on high diesel fuel prices
Diesel prices have surged globally as Ukraine and Iran have bombed refineries in Russia and the Middle East.
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Oil Markets Caught Between Iran War Risks and Emergency SPR Releases
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the…
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BP Quadruples Profit to Record as War Boosts Refining and Trading
BP easily beat analyst expectations of third-quarter earnings, posting its highest quarterly profit, which nearly quadrupled from a year earlier amid strong refining margins and oil and gas trading. BP’s underlying replacement…
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Russian strikes plunge Ukrainian city into blackout as Zelenskyy warns of more missile attacks
Russian strikes caused major power outages in Dnipro as a reported Ukrainian drone attack sparked a fire at a Russian oil refinery.
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How a New “Arab Dark Fleet” Keeps Hormuz Oil Flowing
Gulf oil producers have gained control of a fleet of nearly 230 tankers that have defied Iran to ship oil through the Strait of Hormuz and keep the chokepoint open to global trade. The giant fleet is owned, managed, chartered or…
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Oil rises near 6-mth high as Trump weighs military options against Iran
Oil prices rose near six-month highs on Friday as the prospect of renewed U.S. military action against Iran clouded hopes for a diplomatic breakthrough, reviving concerns over supply disruptions. As of 05:45 ET (09:45 GMT), Brent…
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European Natural Gas Prices Near €100
European natural gas prices rose back toward €100 per megawatt-hour on Friday, the highest since late 2022, and on track for a monthly gain of more than 30%, amid concerns over a renewed escalation of the Middle East war and…
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Wall Street Banks Raise Oil Price Forecasts as Supply Fears Deepen
Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies…
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Saudi Arabia reports interception of Houthi drone targeting Mecca
Houthis deny targeting the region of the Muslim holy city as hostilities continue to escalate.
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Russian oil refinery struck as Ukraine renews drone attacks
Russian authorities say they intercepted more than 1,000 Ukrainian drones over multiple regions overnight.
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High Oil Prices Set to Trigger New Wave of North Sea Mergers
High oil and gas prices are going to drive further consolidation in the UK sector of the North, according to analysts, who also said tax considerations would play a role in stimulating M&A appetite in the region. The expectations…
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Oil flows are up as Iran war turmoil eases. Why do prices keep rising?
Brent crude prices are up more than 60 percent compared with pre-war levels, despite rebound in supply.
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Houthis Claim Fresh Strikes on Saudi Oil Refineries and Aramco Facilities
The Yemeni Houthis claimed a fresh series of attacks on Saudi targets, including oil infrastructure: two refineries and a facility at the Abqaiq oil field. The Houthis struck the Ras Tanura refinery and the Rabigh refinery, the…
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Iran claims four tankers struck mines in Hormuz as strike fears grow after U.S. midterms
Iran said four tankers struck mines in the Strait of Hormuz, while Tehran disputed a U.S. claim that key shipping lanes had been cleared.
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Oil Prices Head for Fourth Monthly Gain as Middle East Tensions Escalate
Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure. At the time of…
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What’s Next for Global Natural Gas Demand?
The Iran war and the lack of LNG supply from the Middle East have upended forecasts of near-term natural gas demand and import costs. So far this year, economies in Europe and Asia have relied more on renewables and coal for…
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Oil Wavers on Conflicting Reports of USA Military Moves
Oil fluctuated in a choppy session as traders weighed conflicting signals on the direction of U.S. military strategy in Iran.
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Trump's Russian Diesel Is a Legal Hot Potato With a Five-Year Fuse
A Malta-flagged tanker called the Agioi Fanendes left the Russian port of Primorsk on Oct. 22 carrying nearly 40,000 metric tons of ultra-low-sulfur diesel, and ship-tracking data has it arriving at the Port of New York and New…
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Exxon, Chevron Executives Cancel Gulf Visit Over Security Concerns
ExxonMobil CEO Darren Woods and Chevron upstream president Clay Neff have canceled plans to attend next week's ADIPEC conference in Abu Dhabi over security concerns, according to sources cited by Reuters on Thursday. Both…
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Cruise companies aim to keep fuel costs down. Their strategies for doing so differ
Carnival is cutting fuel use, while Royal Caribbean and Norwegian rely on "hedging" to keep fuel costs down amid conflict in the Middle East.
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Oil prices edge lower as renewed U.S.-Iran peace efforts ease supply fears
Oil prices declined Thursday as prospects of renewed peace negotiations eased fears of supply disruptions stemming from escalating tensions in the Middle East.
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Seven oil tankers carrying 288,000 tonnes of Russian diesel sail towards US
Tankers, tracked by Greenpeace, are first phase of Trump-Putin deal – but there is uncertainty over whether they will unload Seven oil tankers carrying an estimated 288,000 tonnes of Russian diesel are now sailing towards the US…
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QatarEnergy Continues LNG Buying Spree to Hedge Future Hormuz Disruptions
QatarEnergy is buying long-term supplies of liquefied natural gas from the US and other producers as part of a trading strategy designed to generate revenue if exports through the Strait of Hormuz are disrupted in the future, CEO…
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Shell and Total Post Highest Quarterly Profit Since 2022
Shell and TotalEnergies reported on Thursday sharply higher third-quarter profits and raised share buybacks, as war-driven energy prices and record refining margins helped both beat expectations.
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India increases growth forecast for fiscal year
India's Ministry of Finance has increased its growth forecasts for the current fiscal year. But it also warned about inflation, particularly for fuel and energy, amid continued instability in the Middle East.
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Cheniere LNG Shipments Surge as Iran War Reshapes Global Gas Trade
U.S. LNG giant raises full-year earnings outlook as Middle East supply disruptions boost demand for American exports Cheniere Energy, the largest U.S. exporter of liquefied natural gas (LNG), reported a...
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Oil prices sink on fresh diplomatic efforts in Middle East
The price for a barrel of Brent crude oil sank 2.1% to $109.26 as traders assessed fresh diplomatic efforts in the Middle East to avert a resumption of U.S. military strikes on Iran.
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US moves to lift sanctions on Russia's shadow fleet could undermine Western pressure on Moscow and help fund its war in Ukraine.
The US is reportedly considering ways to convert "dark tankers" into legitimate vessels, allowing them to transport crude oil that is not subject to sanctions.
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Qatar to Buy LNG From Woodside as It Scours for US Supply
QatarEnergy agreed to purchase US liquefied natural gas from Woodside Energy Group Ltd. for two decades, saying it’s now the top buyer of the American fuel as it diversifies from the Middle East.
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Shell Approves $5B Buyback as Refining Boosts Profit
Shell announced one of its highest-ever share buybacks as the Iran war and the Russia-Ukraine conflict lead to record margins for its oil-refining business and surging profits.
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Tariffs, diesel and computer chips are driving up costs for automakers
American auto companies say they are paying more for key components like computer chips, steel and copper — plus the fuel needed to transport their products.
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Shell profits double to $10.8bn as Iran war pushes up margin on oil
Energy firm to return $5bn to shareholders as climate campaigners criticise high profits Business live – latest updates Shell has doubled its profits in the last quarter after the Middle East conflict drove up the price of oil…
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Oil Rises with Iran Attack Report, Israeli Election in Focus
Oil rose as traders weighed whether the U.S. and Israel would resume military strikes on Iran.
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Oil prices rise as U.S. reportedly tells Gulf countries to prepare for Iran strikes after midterm elections
Oil prices climbed Wednesday as investors weighed the prospect of a prolonged conflict in the Middle East.
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Saudi Oil Exports Booming Despite Attacks
Saudi Arabia's oil exports are holding near wartime highs this month despite a wave of attacks on the kingdom's energy infrastructure, according to preliminary data from ship-tracking firms.
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Trump shows off tanker with ‘1m barrels of oil’ and floats Venezuela as 51st state
President at Texas campaign rally hails deal struck with post-Maduro government as ‘greatest oil victory in history’ Donald Trump suggested Venezuela would become the 51st state of the United States on Tuesday as the president…
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Trump administration may let more Russian diesel onto market, energy secretary tells CNBC
The diesel volumes in the Trump-Putin deal won't materially lower prices because the shipments are small compared to total demand, analysts say.
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Oil prices fall after Iran supreme leader and top security official discuss conditions to end war
Renewed diplomatic efforts to end the U.S.-Israeli war with Iran pushed oil prices lower
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Oil ticks lower as Saudi defense minister meets with Iran's president in Tehran to de-escalate
Investors are worried about the vulnerability of Saudi energy infrastructure and the risk of another disruption to production, refining or export facilities.
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Saudi Arabia says it intercepted missiles and drones from Iran-backed Houthis
Saudi Arabia says it intercepted Houthi missiles and drones, while the Houthis claimed attacks on airports and energy sites amid rising regional supply risks.
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Brent crude oil tops $116, a six-month high, as tensions swell in the Middle East
U.S. President Donald Trump accused Iran on Thursday of trying to manipulate the oil market.
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Qatar deal to buy U.S. natural gas shows how Iran war has redrawn global energy markets
The Iran war is transforming global energy markets and benefiting U.S. companies, especially liquefied natural gas exporters.
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Oil price rises above $117 a barrel amid fears US will renew strikes on Iran
Brent crude increase follows Tehran threatening retaliatory attacks on Gulf refineries and datacentres Oil has hit its highest level in more than six months as fears of fresh escalation in the Middle East conflict grip the energy…
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Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit…
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Brent crude tops $113, highest level since May, after Trump hints at action on Iran
The Middle East conflict could flare up again as the U.S. reportedly plans to resume strikes against Iran.
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Under-the-radar stocks to play the next leg of the energy trade with oil prices jumping again
Iran is going to grow more desperate as oil money dries up, which makes the country even more dangerous.
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Iran threatens to strike oil and AI facilities across Gulf if US and Israel renew attacks
Iran’s security chiefs say there will be ‘zero red lines’ if Trump and Netanyahu attack again Iran will strike oil facilities, undersea cables, datacentres and AI facilities across as many as seven countries in the Gulf in the…
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Oil prices jump to five-month high as attacks threaten global supply
Iran’s IRGC says it hit four vessels in the northern Gulf and three more struck mines near the strait of Hormuz Shipping workers: how is the Middle East conflict affecting you? Oil prices jumped to a five-month high on Thursday…
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U.S. pulls diplomats from Saudi Arabia as it reportedly readies Iran strikes after midterms
The U.S. ordered non-emergency staff out of Saudi Arabia after Houthi strikes on an airport and an oil field, reviving fears of a widening regional conflict.
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How Ukraine’s drone strikes on Russia crippled the world’s second-largest diesel supplier
President Donald Trump has blamed Ukraine for surging diesel prices that are hurting Republicans' election chances with the midterms just two weeks away.
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Oil prices fall as traders hope for diplomatic progress in Middle East
Developments in the Middle East remain in focus, with attacks on commercial ships transiting the Strait of Hormuz escalating in recent weeks.
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Updated Oct 30, 10:15 AM ET. Summaries are short excerpts of each publisher's own feed description. News sources.