Oil Prices Surge Over 3% on US-Iran Combat Fears
Brent crude settled at $109.26 a barrel after a 3.35 percent gain on May 15, 2026, as US-Iran tensions raised fresh risks to oil flows through the Strait of Hormuz.
Middle East Energy
Latest developments in Middle East oil, gas, renewables, OPEC policies, and energy markets shaping global supply and geopolitics.
Iran Moves to Charge Fees for Hormuz Oil Transit
Tehran launches a toll system for vessels in the Strait of Hormuz as part of ceasefire negotiations with Washington and Jerusalem, with initial revenues already reaching central bank accounts.
Iraq Exports 10 Million Barrels via Strait of Hormuz in April
Iraq announced exports of 10 million barrels of oil through the Strait of Hormuz in April, a steep drop from 93 million barrels monthly before the conflict closed the vital waterway.