Oil & Gas News (OGN)

Tag: Iran

Energy, Oil & Gas

Oil settles lower as Hormuz shipping hopes ease supply fears

Sat, 11 Jul 2026

Oil prices settled lower on Friday after the latest round of US-Iran fighting as traders grew hopeful that shipping would eventually resume in the Strait of Hormuz, but prices finished with sharp weekly gains. Brent crude futures fell by 29 cents to close at $76.01 a barrel. ...

Energy, Oil & Gas

IEA forecasts 0.5pc drop in global natural gas demand in 2026

Wed, 08 Jul 2026

The International Energy Agency (IEA) forecasts global natural gas demand will fall 0.5 per cent in 2026 as Middle East conflict-driven supply disruptions, higher prices and reduced LNG flows through the Strait of Hormuz weigh on consumption. ...

Energy, Oil & Gas

Oil climbs as US strikes on Iran revive Strait of Hormuz supply fears

Wed, 08 Jul 2026

Oil prices climbed nearly 2% on Wednesday as renewed US airstrikes on Iran and fresh sanctions on Tehran's oil exports reignited concerns over supplies from the Middle East after attacks on commercial vessels in the Strait of Hormuz....

Energy, Oil & Gas

Qatar expects LNG production recovery in coming weeks

Wed, 24 Jun 2026

Qatar expects to restore normal liquefied natural gas (LNG) production within weeks, Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times....

Energy, Oil & Gas

Crude down after MoU allows Iran to export oil

Thu, 18 Jun 2026

Oil prices declined further on Thursday, following the release of the text of the interim agreement signed by the US and Iran....

Energy, Oil & Gas

Oil prices continue to decline on export surge hopes

Wed, 17 Jun 2026

Oil prices further declined on Wednesday, extending the previous session's losses following the US-Iran interim peace deal which is expected to allow free passage for vessels through Strait of Hormuz....

Energy, Oil & Gas

Interim deal 'will allow Iran to export oil immediately'

Wed, 17 Jun 2026

The interim agreement between the US and Iran aimed at ending the Middle East conflict is expected to pave the way for Iran to resume oil exports immediately, according to US officials....

Energy, Oil & Gas

Oil prices surge 2% over fading hopes for peace deal

Mon, 01 Jun 2026

Oil prices climbed more than 2% on Monday as investors reassessed expectations for a breakthrough in US-Iran negotiations, with renewed regional tensions highlighting the fragility of efforts to secure a broader peace agreement and restore stability to Middle East energy supplies. ...

Energy, Oil & Gas

US targets Iran's energy lifeline with fresh sanctions

Sat, 30 May 2026

The United States has announced new sanctions on Iranian oil and petrochemical networks, the latest move in its 'maximum pressure' strategy to curb the country's key sources of income and limit funding for its military operations, said a report....

Energy, Oil & Gas

Oil, LNG vessels exit hormuz for Pakistan, China

Mon, 25 May 2026

Two liquefied natural gas tankers passed through the Strait of Hormuz on Monday ( May 25) heading to ‌ route to Pakistan and China, while a supertanker carrying Iraqi crude for China departed the Gulf on Saturday after being stranded for nearly three months, according to shipping data cited by Reuters....

Energy, Oil & Gas

Iraq, Pakistan strike shipping deals with Iran as Tehran flexes its muscle

Wed, 13 May 2026

Countries striking side deals with Iran to secure oil and gas shipments through the Strait of Hormuz are raising fresh concerns among Gulf exporters, as the lack of progress in US-Iran peace talks fuels fears that Tehran could entrench its new control over one of the world’s most critical energy corridors....

Energy, Oil & Gas

Opec production drops in April as Hormuz crisis hits exports: Reuters survey

Tue, 12 May 2026

A Reuters survey showed that oil output Opec fell to a more than 20-year low in April, dropping 830,000 barrels per day to 20.04 million bpd as Strait of Hormuz disruptions linked to the US-Israeli conflict with Iran hit exports....

Energy, Oil & Gas

LNG exports fall to two year low amid Mideast disruptions

Mon, 04 May 2026

Global LNG exports fell to about 33 million tonnes in April 2026, the lowest in nearly two years, as Middle East tanker disruptions linked to the US-Israeli war with Iran impacted shipping flows....

Energy, Oil & Gas

Brent crude tops $125 a barrel as no end seen for blockades

Thu, 30 Apr 2026

Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place....

Energy, Oil & Gas

Hormuz closure: Alternative routes for Mideast oil

Wed, 22 Apr 2026

Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges. ...

Energy, Oil & Gas

War in Iran is causing biggest energy crisis in history: IEA

Tue, 21 Apr 2026

The Iran–US–Israel conflict is driving the worst global energy crisis, IEA head Fatih Birol said, calling it the biggest in history, worsened by Russia-related energy shocks and supply pressures global....

Energy, Oil & Gas

Crude oil prices decline after reports of new talks

Wed, 15 Apr 2026

Oil prices extended their decline on Wednesday, as cautious optimism over a possible resumption of US-Iran talks eased immediate supply fears, even as underlying risks from the ongoing conflict continued to cap losses....

Energy, Oil & Gas

Oil falls below $100 as hopes rise for new talks to end war

Tue, 14 Apr 2026

Oil prices fell below $100 a barrel this morning (April 14) over signs of new US-Iran dialogue ⁠to end their war. Brent crude was at $97.8 in early trade, while US WTI crude was at $96.83....

Energy, Oil & Gas

Iran aims to restore majority of refining capability within two months

Mon, 13 Apr 2026

Iran expects to restore most damaged refining and ‌distribution facilities to 70–80 per cent of their pre-attack capacity within one to two months, a ⁠senior oil official said, as authorities work to recover from a wave of strikes on energy infrastructure....

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