Tehran has stated it will require concessions from the United States before agreeing to reopen the Strait of Hormuz, a critical global oil shipping chokepoint. The development suggests an ongoing closure or blockage of the strategic waterway.
Tehran has stated it will require concessions from the United States before agreeing to reopen the Strait of Hormuz, a critical global oil shipping chokepoint. The development suggests an ongoing closure or blockage of the strategic waterway.
The United Arab Emirates condemned what it called an Iranian missile attack on an Abu Dhabi National Oil Company vessel transiting the Strait of Hormuz, calling it an act of piracy. No casualties were reported in the incident.
Ukrainian drones targeted multiple Russian oil refineries on Saturday, August 8, 2026, causing fires at the Ilsky refinery in Krasnodar region and the Syzran facility. The attack on Ilsky injured five people before the fire was extinguished, while Russia and Ukraine exchanged overnight strikes including a missile barrage on Kyiv.
The Senate overwhelmingly approved sweeping Russian sanctions legislation Friday that would allow President Trump to impose 100% tariffs on the world's top five purchasers of Russian oil and gas, including India and China. The bill, championed by Sen. Lindsey Graham before his unexpected death in July, now heads to the House of Representatives.
Ukrainian drone attacks on Russian oil facilities and Black Sea shipping routes reduced Caspian Pipeline Consortium oil loadings by one-fifth in July, disrupting Kazakhstan's exports and adding strain to global commodity markets already facing Middle East tensions.
Iran has revealed details of negotiations with Oman over reopening the Strait of Hormuz, stating any agreement would prohibit U.S. and Israeli vessels and require changes in U.S. behavior. The announcement comes amid escalating tensions, including reported attacks on UAE vessels and U.S. efforts to accelerate weapons production.
Bitcoin miner MARA Holdings secured $600 million in loans from Coinbase Credit and Two Prime Lending on August 4, 2026, pledging 18,750 BTC (valued at approximately $1.2 billion) as collateral to finance expansion into artificial intelligence infrastructure and power generation. The move comes amid concerns after the company sold nearly all its mined Bitcoin and MARA stock dropped 10.9% following the announcement.
Saudi officials report intelligence indicating multiple coordinated attacks could occur within 48 hours from both Yemeni Houthis and Iraqi militia groups, targeting civilian infrastructure including ports, airports, and energy facilities. At least 11 civilians have already been wounded in a Houthi attack.
Ukrainian forces hit two oil refineries deep inside Russian territory in overnight attacks, President Volodymyr Zelenskyy announced Thursday, continuing a 40-day campaign targeting Russia's energy infrastructure and wartime economy. The strikes hit facilities including the Slavneft-Yanos refinery, located thousands of kilometers from the border.
Indian oil refiners are increasingly purchasing crude from West African sources, including Nigerian grades, while some seek to avoid Gulf routes through the Strait of Hormuz and Red Sea amid ongoing regional tensions. Mangalore Refinery bought 1 million barrels of Oman crude while Hindustan Petroleum purchased 2 million barrels of Nigerian crude for its Rajasthan refinery.
Texas Governor Greg Abbott ordered a pause on approvals for new data center connections to the state's electric grid, directing the Public Utility Commission of Texas and ERCOT to audit pending projects amid concerns that surging electricity demand from data centers could threaten grid reliability.
Damascus has committed to significantly reducing imports of Russian crude oil as part of ongoing discussions with Washington over lifting Syria's State Sponsor of Terrorism designation. Russian oil shipments to Syria had jumped 75% to approximately 60,000 barrels per day this year before the agreement.
Nuclear startup Valar Atomics secured $1 billion in Series B funding led by Sequoia Capital, plus a $200 million credit facility, to shift from demonstrating small reactors to volume production for AI data centers.
Texas Governor Greg Abbott on Monday ordered state regulators to pause all new data center approvals and conduct comprehensive audits of projects seeking to connect to the state's power grid. The directive requires the Public Utility Commission of Texas and ERCOT to verify energy and water usage of data centers in the interconnection process before any additional approvals are granted.
Cuba's national electricity grid failed on Sunday, August 3, 2026, causing a nationwide blackout affecting approximately 10 million people. The collapse is the latest in a series of power failures attributed to aging infrastructure, fuel shortages, and lack of replacement parts.
Power utilities across multiple countries are implementing advanced tools and contingency plans to protect electrical grids from increasingly frequent extreme weather, including a new predictive model from Washington State University, Brazil's El Niño preparations, and enhanced monitoring systems in Montana and Canada.
Researchers at Florida State University have developed new AI tools for more precise power predictions to reduce blackout risks, as the global real-time grid stabilization AI market accelerates with utilities adopting artificial intelligence to manage renewable energy integration and grid resilience challenges.
Russia's government will prohibit cryptocurrency mining in Moscow, Moscow Oblast, and parts of Kursk Oblast starting August 15, 2026, with the ban extending through December 31, 2032. The restrictions cite energy concerns and wartime power shortages as justification.
Turkey and Iraq have signed a one-year agreement to maintain operations of the Iraq-Turkey crude oil pipeline to Ceyhan port, with capacity for 750,000 barrels per day. The deal provides Baghdad with a critical northern export route as ongoing tensions continue to disrupt shipping through the Strait of Hormuz.
A geopolitical analysis explores how African nations could economically and strategically benefit from increased energy exports if the Strait of Hormuz faces disruption, while noting that structural weaknesses may limit the continent's ability to capitalize on such opportunities.
QatarEnergy has bought 33 spot liquefied natural gas cargoes from the United States this year for delivery to South Korea, Taiwan, Bangladesh, India, and Japan after Qatari gas exports through the Strait of Hormuz were halted, according to trade and industry sources.
Saudi Arabia is working to form an international coalition to safeguard shipping in the Red Sea as Houthi strikes on energy tankers intensify, driving oil prices higher and threatening critical maritime trade routes.
Two ships used for gas processing and storage caught fire at Egypt's Damietta port, with security sources reporting a drone strike on a US-owned tanker. Egypt's petroleum ministry confirmed the fire but did not mention a drone attack or specify a cause, stating no injuries occurred and port operations were expected to resume overnight.
Ukrainian drone attacks on tankers and port infrastructure at Russia's Novorossiysk and Taman facilities have forced the third shutdown this month of the Caspian Pipeline Consortium terminal, Kazakhstan's primary oil export gateway. The strikes have disrupted both oil and grain shipments from Russian Black Sea ports.
Ukrainian forces hit two of Russia's largest oil refineries in overnight long-range strikes on Wednesday, just hours after President Volodymyr Zelenskyy met with President Donald Trump in Washington. The attacks are part of Ukraine's sustained campaign targeting Russian energy infrastructure that has contributed to fuel shortages across Russia.
President Donald Trump vowed major retaliation against Iran and the Houthis after the group said it had attacked two Saudi oil tankers in the Red Sea, threatening to extend the Middle East conflict to another critical shipping chokepoint. Oil prices surged above $100 per barrel amid fears of wider shipping disruption, while the U.S. military carried out another round of strikes on Iran.
Three grain industry sources told Reuters that Russia had introduced a temporary ban on vessel movements in and out of Novorossiysk between midnight and 5 a.m. because of Ukrainian drone attacks. The measure follows earlier traffic restrictions in the Sea of Azov and the Kerch Strait and a July 21 government order banning vessels from anchoring in areas without air defences at the ports of Azov and Kavkaz.
President Trump threatened to destroy Iranian infrastructure including bridges and power plants in retaliation for attacks on commercial shipping in the Strait of Hormuz, as the US conducted its 11th consecutive night of strikes against Iran and Tehran warned of escalating regional conflict.
Greece vetoed the EU's 21st Russia sanctions package to shield Dynagas, a Greek LNG shipping company owned by George Prokopiou, from a proposed ban on transporting Russian LNG to third countries. Athens' objection delayed the package by at least a week after three days of failed negotiations.
A Ukrainian drone attack on July 14, 2026, forced the shutdown of the Gazprom Neftekhim Salavat petrochemical complex in Bashkortostan, which handles approximately 2.7% of Russia's oil refining capacity. Two main refining units were damaged, with repairs potentially taking weeks or months.
The US announced it will enforce a maritime blockade on Iran effective July 14, 2026 at 2000 GMT, applying restrictions to all vessel traffic regardless of flag. The Joint Maritime Information Center (JMIC) indicated that force may be used against non-compliant vessels.
President Donald Trump declared the United States will become the "guardian" of the Strait of Hormuz and impose a 20% fee on all cargo passing through the strategic waterway, while simultaneously announcing the reimposition of a naval blockade on Iran. The announcement comes amid escalating tensions with Iran and includes U.S. military strikes.
Russian forces killed at least five people, including a teenager, in aerial bomb strikes on Ukrainian cities including Kramatorsk and Zaporizhzhia, while Ukrainian forces continued targeting Russian oil tankers and infrastructure.
Russian authorities in Siberian regions including Novosibirsk and Tomsk are asking residents to work from home and limit vehicle use amid a worsening nationwide fuel crisis. Citizens are converting cars to LPG as gasoline shortages, price increases, and long queues at filling stations spread across the country.
Maritime traffic through the Strait of Hormuz has fallen steeply after renewed military confrontation between the United States and Iran, following the collapse of a preliminary peace agreement and Iranian attacks on commercial vessels. The disruption is causing significant impacts on global energy markets.
Russia has imposed a full ban on diesel exports following systematic Ukrainian drone attacks on its oil refineries that caused widespread domestic fuel shortages and price spikes. The move comes as global energy markets face additional strain from disruptions in the Strait of Hormuz.
A Qatari liquefied natural gas tanker sustained significant damage after an attack in the Strait of Hormuz on Tuesday, sparking a fire in its engine room and raising explosion concerns. In response, Qatar has paused efforts to ramp up production at the world's largest LNG facility due to transit safety fears.
The United States military conducted air strikes against targets in southern Iran in retaliation for Iranian attacks on commercial vessels in the Strait of Hormuz, while the Trump administration simultaneously revoked sanctions waivers on Iranian oil sales. Iran has vowed a 'crushing response' to the strikes.
Ukrainian forces have attacked 19 tankers from Russia's 'shadow fleet' over three days, targeting vessels delivering fuel to Russian-occupied Crimea in the Sea of Azov. The strikes represent an intensified effort by Kyiv to isolate the peninsula.
Russia is experiencing widespread fuel shortages leading to extensive queues at petrol stations, rising prices, and growing public frustration. The crisis, linked to Ukraine's strikes on Russian refineries and the ongoing war's economic toll, has forced Putin to publicly acknowledge the problem in a rare admission of domestic difficulty.
Iran's military fired at least two missiles at commercial ships transiting the Strait of Hormuz on Monday, setting at least one tanker ablaze. The attacks occurred as Iran mourns Supreme Leader Khamenei and as President Trump heads to a NATO summit.
Multiple vessels attempting to exit the Strait of Hormuz made abrupt U-turns on July 4-5, 2026, with ship traffic along the Omani coast dropping sharply as some tankers shifted to routes closer to Iran. Iran has previously stated that vessels should only transit through routes designated by the Islamic Republic, though the exact cause of the reversals remains unclear.
Iran's ambassador to China stated that Beijing and other friendly nations will receive special considerations on service fees for ships transiting the Strait of Hormuz, a critical global oil shipping chokepoint.
The United Kingdom and France have agreed to work with Oman to ensure safe navigation through the Strait of Hormuz and Oman's territorial waters, with plans to deploy a multinational force to restore secure transit through the strategic waterway.
Iran has warned oil tankers to use approved routes through the Strait of Hormuz or face a 'forceful response,' with BBC reporters witnessing seized vessels and stranded tankers. Oman is navigating a delicate diplomatic position over the new fees and restrictions in the critical waterway.
The United States threatened to withhold interceptor systems from Saudi Arabia after the kingdom refused to allow US forces to use its bases and airspace for escort missions in the Strait of Hormuz during the ongoing US-Israel war on Iran that began in late February 2026.
Months of Ukrainian drone attacks on Russian oil refineries have created a severe fuel shortage, forcing the Kremlin to take the rare step of importing gasoline while long lines form at gas stations across the country. The crisis has compelled Russia to tap into fuel reserves as refinery capacity remains crippled.
Russian President Vladimir Putin has publicly admitted that Ukrainian long-range strikes are causing fuel supply problems across Russia, with the Siberian region of Irkutsk implementing a 50-litre limit at state-run gas stations. Videos show fights breaking out at Russian fuel stations amid the shortages.
Russian President Vladimir Putin has publicly admitted to fuel shortages and operational problems in the ongoing Ukraine invasion, while vowing to continue efforts to capture four Ukrainian regions. The acknowledgment comes as Ukraine escalates attacks on Russian oil refineries and weapons facilities, causing significant disruption.
Ukraine conducted long-range drone attacks on Russian oil refineries, igniting a major facility in southern Russia and killing at least two people. President Vladimir Putin publicly acknowledged Russia is experiencing a difficult period as Ukraine intensifies strikes on energy infrastructure up to 1,200 miles inside Russian territory.
Ukrainian forces have escalated long-range drone attacks on Russian territory, striking oil refineries up to 1,200 miles inside Russia, prompting emergency declarations in occupied Crimea and vows from President Putin to ensure security amid the four-year conflict.
Moscow-installed authorities in Crimea declared a state of emergency on Friday after weeks of Ukrainian aerial attacks caused widespread power outages, fuel shortages, and damage to the peninsula's energy infrastructure. The declaration marks an escalation in Ukraine's campaign to target the Black Sea peninsula that Russia illegally annexed in 2014.
A fragile shipping recovery in the Strait of Hormuz following a U.S.-Iran deal has been disrupted by an estimated 80 mines in shipping lanes and a renewed attack on a vessel, forcing the UN to pause evacuation operations. Industry leaders warn the mines could delay normal shipping for months.
French naval forces intercepted and seized a Russia-linked oil tanker named Deliver off the coast of Sicily on Tuesday, according to President Emmanuel Macron. The seizure is part of escalating European efforts to enforce sanctions and disrupt Russia's shadow fleet operations that help circumvent oil export restrictions.
Multiple oil tankers sailed through the Strait of Hormuz on Thursday using a UN-recommended route despite Iranian threats, as oil prices dropped to pre-conflict levels following US-Iran talks in Switzerland that resulted in partial sanctions relief. One cargo ship was reportedly hit by a projectile during the passage.
Ukraine launched extensive drone strikes targeting Russian energy infrastructure and military facilities deep inside Russia and Crimea, including a major natural gas plant and satellite communications centers. The attacks prompted Russia to relocate significant air defense assets to protect Moscow and other key sites.
Ukrainian long-range attacks on Russian oil refineries, natural gas plants, and satellite communications centers have caused widespread fuel shortages and power blackouts across Russian-occupied Crimea and other regions, with fuel sales suspended to the public in the annexed peninsula.
The United States and Qatar are warning the European Union that strict methane regulations could divert gas supplies elsewhere, while eleven EU countries are calling for a pause to the rules citing potential supply disruptions and increased costs from foreign suppliers.
Ukraine has escalated attacks on Russian-occupied Crimea, causing fuel shortages for civilians, power outages, and forcing authorities to cancel the tourism season as part of a strategy to cut off the peninsula from mainland Russia and increase the cost of occupation.
The United States has authorized Iranian oil sales through August, easing decades-old sanctions following productive negotiations in Switzerland. The move comes as part of a broader push toward a final peace deal involving nuclear inspections and free transit through the Strait of Hormuz.
Russian-occupied Crimea suspended civilian gasoline sales and restricted public services following intensified Ukrainian attacks on oil facilities, while Russia weighs a diesel export ban to address domestic fuel shortages. Deputy Prime Minister Alexander Novak confirmed the government is considering export restrictions as refineries face continued strikes.
Prime Minister Keir Starmer committed the UK to playing its "full part" in reopening the Strait of Hormuz as soon as possible, following a significant agreement with Iran brokered by US President Donald Trump. The announcement came during G7 meetings where Starmer and Trump met face-to-face.
UK Prime Minister Keir Starmer unveiled fresh energy sanctions on Russia and a £210 million deal to support Ukraine's nuclear plants for two years at the G7 summit in France. The announcement came as the BBC reported that arson attacks targeting Starmer last year have been linked to Russia.
The United States and Iran have reached a ceasefire agreement ending months of military conflict that began in late February 2026. The deal reopens the Strait of Hormuz and ends the U.S. naval blockade on Iranian ports, though critical issues including Iran's nuclear program remain unresolved.
Iran has exported 40 million barrels of oil at a 20% premium following the end of U.S. sanctions enforcement, while its strategic control over the Strait of Hormuz appears to be diminishing as Gulf Arab oil reaches markets through alternative routes.
President Donald Trump threatened major military strikes on Iran and seizure of Kharg Island, the country's critical oil export terminal, following fresh attacks on U.S. bases in the region. Trump vowed to take control of Iran's oil and gas infrastructure as tensions push the Middle East closer to full-scale war.
The oil cartel OPEC+ has approved a modest increase to its collective oil production quotas, raising output by 188,000 barrels per day starting in July 2026, though concerns about the Strait of Hormuz may limit the practical impact of the increase.
The European Union sanctioned two Iranian individuals and an Islamic Revolutionary Guard Corps unit for restricting maritime traffic through the Strait of Hormuz, a critical waterway handling approximately one-fifth of global oil flows. The blockade has escalated tensions amid broader conflict with Israel and reports of vessels evading restrictions through covert routes.
Military analysts report Russia is escalating air strikes on Ukrainian cities in response to battlefield setbacks, while Ukraine's long-range drone campaign increasingly targets Russian oil infrastructure and pressures the Kremlin.
Ukrainian drones attacked an oil terminal in St. Petersburg, setting it ablaze during the city's annual economic forum promoted by President Putin. In response, Putin announced Russia will bolster its air defenses to counter the escalating Ukrainian drone attacks that have reached deep inside Russian territory.
Urenco USA, the only commercial uranium-enrichment company in the United States, is planning a multi-billion-dollar investment to boost capacity by nearly 50% in anticipation of surging demand for nuclear reactors driven by AI data center power needs.
The Russian government announced a ban on jet fuel exports lasting until November 30, 2026, citing ongoing Ukrainian strikes on oil refineries that have caused domestic production declines and fuel shortages. The ban triggered declines in Indian aviation stocks, with SpiceJet and IndiGo shares falling up to 2.5%.
French naval forces boarded and detained the Tagor, a Russian oil tanker circumventing international sanctions, in the Atlantic Ocean. President Macron announced the operation as part of enforcement efforts against sanction violations.
The Federal Energy Regulatory Commission announced that U.S. generating capacity will increase by approximately 75 gigawatts this summer compared to 2025, representing a significant expansion in power generation infrastructure.
President Trump announced Saturday that a broader agreement with Iran has been 'largely negotiated' and the Strait of Hormuz would be reopened, though he told Axios he remained '50/50' on finalizing the deal and would decide by Sunday whether to resume the war.
Britain has postponed implementing sanctions that would ban imports of diesel and jet fuel refined from Russian crude oil in third countries, citing supply issues and rising fuel prices caused by the Iran war. The ban was originally announced in October.
A drone attack caused a fire near the United Arab Emirates' Barakah Nuclear Energy Plant, prompting investigations and power restoration efforts. The incident coincides with Saudi Arabia intercepting drones from Iraqi airspace and ongoing tensions between the US and Iran over nuclear negotiations.
India and the United Arab Emirates agreed on a framework for strategic defense partnership and signed energy deals during Prime Minister Narendra Modi's state visit to the Gulf nation, strengthening bilateral ties amid regional tensions.
The US Treasury sanctioned 12 entities for facilitating Iran's Islamic Revolutionary Guard Corps oil sales to China, warning of potential secondary sanctions on foreign financial institutions, including those connected to China's independent oil refineries.
Federal authorities are reviewing large oil positions placed just before key developments in the US-Iran conflict, investigating potential insider trading related to the war's impact on energy markets.
The UN's International Maritime Organization reported that around 1,500 ships and approximately 20,000 seafarers remain trapped in the Persian Gulf due to the Iranian blockade of the Strait of Hormuz, facing severe hardship as the standoff continues.
Australian Prime Minister Anthony Albanese announced a 10 billion Australian dollar ($7.22 billion) package to strengthen the country's fuel security through strategic stockpiles, responding to supply disruption concerns from the Strait of Hormuz blockade.
France moved its aircraft carrier through the Suez Canal into the Red Sea, positioning for a potential multinational mission to secure the Strait of Hormuz. President Macron emphasized any operation would only occur after the conflict's hottest phase subsides.
Iran's Islamic Revolutionary Guard Corps navy issued a new map on Monday delineating areas of the Strait of Hormuz under its control, according to state media, as shipping through the critical waterway remains at a standstill.
Iran's navy prevented U.S. warships from entering the Strait of Hormuz and fired shots at vessels in the strategic waterway, prompting President Trump to announce a U.S. operation to guide stranded ships through the strait. At least one South Korean vessel was reportedly hit in the incident.
Iranian drone attacks hit UAE's Fujairah oil hub and a tanker, causing Brent crude to spike past $114 per barrel and triggering sharp moves across energy and financial markets, though the U.S. denied reports of a warship being hit.
Workers and activists held May Day demonstrations across Europe, Asia, and other regions on May 1, 2026, with traditional labor protests over wages and working conditions increasingly incorporating anti-war messaging and opposition to rising energy costs linked to conflict involving Iran. Some demonstrations escalated into clashes.
The United States is pitching a new international coalition to restore maritime traffic through the Strait of Hormuz after shipping has stalled in the critical waterway. The initiative aims to secure passage for commercial vessels through one of the world's most important oil transit chokepoints.
Senior Iranian lawmaker warned, that "the importance of Bab el-Mandeb may be no less than that of the Strait of Hormuz" and that Iran's Yemeni allies were "waiting to block it and deliver another blow to America", threatening to extend the global shipping crisis to a second critical chokepoint.
The UAE announced its withdrawal from OPEC and OPEC+ effective May 1, dealing a significant blow to the oil cartel's unity. The move comes as the organization struggles with production quotas and amid the ongoing Iran conflict affecting global energy markets.
Lufthansa announced the cancellation of 20,000 flights due to soaring jet fuel prices and shortages caused by the closure of the Strait of Hormuz. Airlines across Europe are lobbying governments to relax environmental rules and modify passenger compensation rights.
Iran reversed its decision to reopen the Strait of Hormuz after approximately 20 hours, with Iranian gunboats reportedly firing on a tanker. Tehran says the strait will remain closed until the US lifts its naval blockade of Iranian ports.
Maritime traffic through the Strait of Hormuz is picking up after months of stagnation, with more tankers now broadcasting their satellite signals while transiting the critical energy chokepoint, indicating growing confidence among shipowners and traders.
