Tag - oil

 
 

OIL

Shoppers carry groceries in plastic bags as they walk through a traditional market in Keelung, Taiwan, on June 9.
BUSINESS
Jun 29, 2026
Asia’s vendors grapple with rising costs of ever-present plastics
Vendors say they do not have a practical alternative to the plastic products they use on a daily basis.
U.S. President Donald Trump appears on a screen, during an event organized by the U.S. Mission to Belgium to mark the 250th anniversary of American independence, in Brussels on Sunday.
WORLD / Politics / FOCUS
Jun 29, 2026
Trump’s U-turn on Iran sanctions would unravel decades of curbs
Iran is one of the most sanctioned nations on Earth but Washington is attempting a stunning reversal to open the Strait of Hormuz, lower energy prices and end its unpopular war.
U.S. President Donald Trump at an event in the Oval Office of the White House in Washington on Friday
WORLD
Jun 28, 2026
U.S. and Iran clash, putting fragile deal under growing strain
The exchanges underscored the fragility of a Pakistan-brokered peace process aimed at ending a war launched by the United States and Israel in February.
U.S. President Donald Trump speaks during the Faith & Freedom Coalition event in Washington on Friday.
WORLD
Jun 27, 2026
U.S. and Iran trade strikes, putting new strain on Mideast ceasefire
The U.S. said its strikes were a response to “unwarranted aggression against commercial shipping by Iranian forces” that “clearly violated the ceasefire.”
The Stroud crude oil rail terminal in Stroud, Oklahoma. The price of benchmark Brent oil has fallen below its prewar closing price.
BUSINESS / Markets
Jun 25, 2026
Brent oil erases wartime gains as Hormuz reopening boosts supply
The global benchmark pushed lower for a fourth session, dropping below $72.48 a barrel — its pre-war closing price — before fluctuating around that level.
Signs inform of nonworking fuel pump nozzles at a gas station, as, some regional filling stations face gasoline shortages due to production cuts at major refineries, amid the Russia-Ukraine conflict, in Rostov-on-Don, Russia, on Tuesday.
WORLD
Jun 24, 2026
Russia’s gasoline crunch spreads after refinery attacks
On an almost daily basis, regional governors in Russia are being forced to limit sales of fuel at filling stations and to try to deter panic buying.
The coastline of Funafuti Atoll in Tuvalu. Gravely threatened by rising seas, the low-lying island nation relies on a $200 million trust fund to help foot the ballooning costs of climate change.
ENVIRONMENT / Climate change
Jun 23, 2026
Australia withholds climate fund reports over risk of diplomatic ‘damage’
Australia is the largest contributor to the Tuvalu Trust Fund, which has been invested on Tuvalu’s behalf in funds exposed to coal mining, gas exploration and a crude oil refinery.
Iran is eager to find a wider range of buyers for its oil.
BUSINESS / Markets
Jun 23, 2026
Iran rushes to woo Asia’s largest oil importers after U.S. waiver
The temporary lifeline should allow Tehran to resume exports and begin clearing a backlog of cargoes on the water.
The Iranian capital Tehran on Monday, when the United States temporarily suspended sanctions on Iranian oil after Vice President JD Vance said Iran would allow UN nuclear inspectors to return to the country following talks in Switzerland.
WORLD / Politics / ANALYSIS
Jun 23, 2026
Unraveling U.S. sanctions on Iran unlikely to be quick or easy
At issue is whether an interim U.S. deal with Iran can translate into lasting economic relief.
An Iranian flag flutters in the wind near a ship  anchored in the Strait of Hormuz near Larak Island, Iran, on May 16.
WORLD / Politics
Jun 23, 2026
Iran oil waiver offers lifeline to Tehran as talks proceed
Hanging over the delicate discussions is the status of the Strait of Hormuz and the continued fighting in Lebanon.
U.S. Vice President JD Vance (back right) looks on next to U.S. President Donald Trump's son-in-law Jared Kushner (back center), as Iranian Foreign Minister Abbas Araqchi shakes hands with Pakistani Prime Minister Shehbaz Sharif before the start of a quadrilateral meeting between the U.S., Iran, Pakistan, and Qatar aimed at advancing a deal to end the Middle East conflict, at the Buergenstock resort near Lake Lucerne, Switzerland, on Sunday.
WORLD / Politics
Jun 22, 2026
U.S. and Iran make ‘major progress’ in talks aimed at lasting peace deal
Plenty of obstacles remain, however, including Israel’s war in Lebanon against Hezbollah, an Iran-backed militant group.
U.S. President Donald Trump arrives to attend the Group of Seven summit, in Evian, France, on June 15.
BUSINESS / Economy
Jun 21, 2026
Trump’s fears about economy undercut U.S. leverage in Iran talks
U.S. President Donald Trump cited the prospect of global economic collapse as a big reason he signed an interim peace deal. That could cost him in talks.
Black smoke rises from the area of the Russian oil producer Gazprom Neft's Moscow oil refinery on the south-eastern outskirts of Moscow on Thursday.
WORLD
Jun 20, 2026
Ukraine’s biggest strike on Moscow spurs fuel shortage fears
The reality of four years of war pushed deeper into everyday life on Thursday when a swarm of nearly 200 drones hit Moscow’s oil refinery.
Ukrainian drones struck an oil refinery in southeast Moscow on Thursday for the second time in three days, igniting a fierce blaze that spewed out ​clouds of black smoke.
WORLD
Jun 19, 2026
Ukraine brings the war to Moscow as huge blasts shake refinery
The attacks are part of a wider Ukrainian campaign to cripple the oil industry whose revenues finance Russia’s ‌war effort.
Vessels in the Strait of Hormuz are seen near a beach in Bandar Abbas, Iran, on Wednesday.
BUSINESS / Markets
Jun 18, 2026
Wave of Persian Gulf oil set to leave Asian refiners swamped
The situation is a stark reversal from the early stages of the Iran war, when prices were spiking and the oil market was warning of dramatic shortages.
Black smoke rises from the area of Gazprom Neft's Moscow oil refinery after a Ukrainian drone strike, as seen from a shopping mall on Thursday.
WORLD
Jun 18, 2026
Ukraine hits Moscow refinery in large-scale drone attack on Russian capital
Russia’s defense ministry said 555 drones were shot down across the country. Sobyanin said 180 were shot down around Moscow alone.
People walk past a sign with a picture depicting U.S. President Donald Trump in Tehran on Wednesday.
WORLD / Politics
Jun 18, 2026
What challenges could stand in the way of a final U.S.-Iran deal?
Most analysts are skeptical the two sides can forge a final settlement within the 60-day window laid out by both sides.
Dana White, president of Ultimate Fighting Championship (left), U.S. President Donald Trump and First Lady Melania Trump speak to attendees during the UFC Freedom250 fight on the South Lawn of the White House in Washington on Monday.
WORLD / Politics / FOCUS
Jun 18, 2026
Inside the chaotic Iran talks that let Trump claim victory but not yet peace
The war cost the U.S. tens of billions of dollars, strained munitions stocks and its alliances, sent pump prices soaring and roiled the global energy market.
U.S. President Donald Trump, with Commerce Secretary Howard Lutnick (left) and Secretary of State Marco Rubio (right), holds a news conference during the Group of Seven Summit in Evian-les-Bains, France, on Wednesday.
WORLD / Politics
Jun 18, 2026
U.S.-Iran deal takes effect as focus turns to Strait of Hormuz
It was unclear if Iran had immediately begun taking steps to fully reopen the Strait of Hormuz.
U.S. President Donald Trump stands in the center of the stage as world leaders greet each other while gathering for an official photo at the Group of Seven summit in Evian-les-Bains, France, on Tuesday.
WORLD / Politics
Jun 17, 2026
Iran to gain major financial relief under interim deal with U.S.
As part of the agreement, Iran will be able to sell oil immediately, tap a $300 billion development fund and get eventual access to its frozen assets.

Longform

The Terasaka Rice Terraces are seen with Mount Buko in the background.
What Yokoze can teach Japan about rural revival