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Europe News
France urges EU to relax fuel rules as oil crunch looms
In a letter to Ursula von der Leyen, Macron said the EU’s energy security has so far relied heavily on buffers — including stockpiles, refinery flexibility, weaker demand and redirected global trade — rather than addressing the underlying supply shock, according to the letter seen by Euronews.
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Economy
Trump vows US will take 'all' of Venezuela's oil as deal details emerge
The White House has published the terms of its Venezuela oil deal, naming the private company at its centre and confirming Washington's majority control of more than 65 billion barrels, as President Trump vowed the US would be taking "all" of it.
Markets
IEA and OPEC split on oil demand estimates as Hormuz closure drags
The world's two most watched oil forecasters published sharply conflicting views of 2026 on Wednesday, with the IEA deepening its call for the first annual demand decline since the pandemic while OPEC still sees consumption growing, as the closure of the Strait of Hormuz drags on.
Markets
Oil prices rise as Trump and Iran trade reparations demands
Oil prices and US government bond yields both climbed on Tuesday after US President Donald Trump answered Iran's demand for war reparations with a sweeping counterclaim of his own, pushing a deal to reopen the Strait of Hormuz further out of reach.
Saudi Arabia
Yemen's Houthis claim attack on Saudi Arabia refinery, 11 dead
Strikes by Iran-backed Houthi rebels on Sunday killed at least 11 people in the Yemeni port city of Mokha, says a medical source, after an earlier drone salvo targeted a Saudi oil refinery. Attacks from the armed group have increased since the 2022 truce seems to have been broken last month.
