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Indian Source says Iran to Allow India-Flagged Tankers Through Hormuz as First Tanker Arrives

Summary Iranian source denies any such agreement Indian source says assurance came after foreign ministers spoke India says 28 Indian-flagged vessels around Strait They have 778 Indian sailors aboard Suezmax tanker Shenlong, carrying Saudi crude, reaches Mumbai (Reuters) – Iran will allow Indian-flagged tankers ​to transit the Strait of Hormuz, a conduit for 40% of …

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US to Release 172 Million Barrels of Oil From Strategic Petroleum Reserve

The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million …

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Oil Jumps 5% as Iran Escalates Attacks on Gulf Shipping

  Summary Iranian boats attacked two tankers in Iraqi waters, port officials said Shipping through Strait of Hormuz still halted IEA proposed release of 400 million barrels may offer only limited relief, analysts say (Reuters) – Oil prices rose sharply ​on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, …

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Trump and Iran Signal No Quick End to War as Oil Tankers Burn in Iraqi Waters

  The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that the world should be ready for oil at $200 a barrel after striking tankers in Iraqi waters and other ships near the vital Strait …

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Oil Settles up Nearly 5% as Supply Fears Mount Despite Record Stocks Release Plan

Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled ​up nearly 5% on Wednesday as fresh …

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Iran Has Laid About a Dozen Mines in Strait of Hormuz, Sources Say

(Reuters) – Iran has deployed about a dozen mines in the Strait of Hormuz, two sources familiar with the matter said, in a move likely to complicate the reopening of the narrow waterway, an important route for shipping oil and liquefied natural gas. Exports of oil and LNG through the strategic chokepoint along Iran’s coast …

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Only Trump Can Approve Possible US Participation in Oil Release, Says Burgum

(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered …

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Trump to Invoke Emergency Law for California Oil Producer Sable, Bloomberg News Reports

(Reuters) – U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon …

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US Companies to Increase Oil Production Amid Iran Conflict, Interior Secretary Burgum Says

(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict. “I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and …

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America First Refining Secures Landmark 20-Year Offtake Agreement and Capital Investment to Construct First New U.S. Refinery in 50 years.

  Transaction Represents Largest Energy Deal in U.S. History. BROWNSVILLE, Texas, March 10, 2026 /PRNewswire/ — America First Refining announced a historic milestone in U.S. energy production: the construction of the first new oil refinery built in the United States in 50 years. Made possible through the leadership of President Donald J. Trump and the …

America First Refining Secures Landmark 20-Year Offtake Agreement and Capital Investment to Construct First New U.S. Refinery in 50 years. Read More »