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What does the US-Israel attack on Iran mean for oil prices?

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Europe News

Why the EU wants to end the price cap on Russian oil

The 20th package of EU sanctions against Moscow foresees a blanket ban on maritime services. If approved, it would discard the price cap on Russian oil that Western allies have applied since 2022.

Europe News

EU seeks G7 input on price cap before next round of Russia sanctions

The price cap on Russian oil could drastically change if the EU moves ahead with a full ban on maritime services, as proposed by Finland and Sweden.

Spain

Tanker with Russian oil products loses steering off Spanish coast

A Mozambique-flagged tanker with Russian oil is drifting off Almería's coast. Environmentalists are concerned about potential spills impacting marine life and tourism.

Republic of the Congo

Two Norwegians charged over multimillion bribes to Congo president

Norwegian citizens and an oil firm face charges for allegedly bribing Congo's President Sassou Nguesso with $25m for offshore oil rights in 2016.

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Azerbaijan

Armenia reshapes its pricing system as it continues to import Azerbaijani fuel

Two fuel shipments from Azerbaijan to Armenia in recent months have made groundbreaking changes - not only to the reconciliation process between the countries, but to reshaping the Armenian market by driving local prices down. The country once relied solely on Russia and Iran for energy supplies.

Economy

The barrel and the bargain: Venezuela's oil after Maduro

Output can rise with capital and access — but Venezuela’s oil story has never been just technical. Sovereignty, revenue flows, and who controls where the crude goes are just as important.

USA

US seizes sixth sanctioned tanker in effort to control Venezuela's oil

Trump met with executives oil companies last week to discuss his goal of investing €86 billion in Venezuela to repair and upgrade its oil production and distribution.

Venezuela

Venezuela's acting president vows to release more political prisoners

Delcy Rodríguez served as Maduro's vice president since 2018, running Venezuela's feared intelligence service and managing its crucial oil industry.

Venezuela

Venezuela's 'black gold' allies: How China, Russia and Iran are linked

From 1999 onwards, successive governments pursued a strategy linking foreign policy, state financing and the management of the country's main industry. The result was a network of bilateral alliances that channelled much of Venezuela's crude outside conventional buying and selling circuits.

Green News

Why boosting Venezuela's oil production could skyrocket pollution

Even a modest increase in Venezuelan oil production could carry climate consequences on the scale of entire countries, experts warn.

USA

US seizes another tanker triying to break Venezuela naval blockade

The Olina seized Friday is "another 'ghost fleet' tanker ship suspected of carrying embargoed oil," US Homeland Security Secretary Kristi Noem said.

USA

Trump says US could run Venezuela and control its oil for years

US special forces snatched president Maduro and his wife in a lightning raid on Saturday and whisked them to New York to face trial on drug and weapons charges.

Venezuela

US to 'dictate' Venezuelan oil sales amid further tanker seizures

Washington announced its control over Venezuela's oil sales after capturing two tankers transporting sanctioned crude and capturing Nicolás Maduro.

Europe News

Two Russian shadow fleet tankers on fire off Turkiye's coast

Two sanctioned oil tankers, the Kairos and the Virat, have caught fire in the Black Sea a few dozen nautical miles off the Turkish coast. Their crews are safe as the causes of the explosions are being investigated.

Europe News

2% of Russian global oil supply affected following Ukrainian attack

A major oil terminal in the Russian port city of Novorossiysk in Krasnodar Krai temporarily suspended operations, approximately 2% of global exports, following Ukrainian attacks.

Business

How Azerbaijan’s oil fund is expanding its influence in Europe

Azerbaijan’s State Oil Fund is ramping up European infrastructure and renewables investments, taking stakes in London Gatwick airport and Italian solar panel capacities as it seeks to diversify away from oil and hydrocarbon revenues.