Europe, and mainly Germany, may face a difficult winter if the war in the Middle East is not resolved soon. The latest attacks, this time in the Bab el-Mandeb strait, led natural gas to 2023 highs. The ECB cautiously watches the outrageous rise in energy prices.

As Iran's attacks keep ship traffic through the Strait of Hormuz to a trickle and oil prices surge, Gulf states are planning to invest billions in pipeline alternatives.

Oil prices hit four-week highs and European shares fall after fresh US-Iran attacks and blockade on Iranian shipping

The Strait of Hormuz has reopened, for now, and Middle Eastern countries that shut off their oil wells during the war (the term is actually “shut in”) are about to turn those valves back the other way and find out what they’ve got.

LONDON, June 15 - A framework agreement between the U.S. and Iran on terms to end their war and reopen the Strait of Hormuz sent oil prices tumbling, as traders anticipated the return of flows. But industry officials say a full return to pre-war production and refining levels is likely to take weeks,

The U.S. is the world's leading oil producer. We don't import much oil from the Middle East. Why, then, are oil and gas prices so high?

Middle East oil and gas supply will take months to years to recover, with key assets like North Field facing prolonged disruptions and delaying any expected market oversupply. The crisis has reshaped global energy flows, with the U.S. emerging as a key ...

By Nora Buli OSLO, July 22 (Reuters) - Equinor on Wednesday reported a sharp rise in second-quarter profits, as expected, lifted by a surge in oil and gas prices as the war in the Middle East disrupted global energy supplies.

In a speech to the nation on April 1, President Donald Trump spoke of the Iran war, and the contest for control of the Strait of Hormuz, as if their outcome had little bearing on the market for oil and gasoline in the United States. “The United ...

Already feeling pinched since the start of the Iran war, consumers are likely to feel more pain ahead as oil prices pushed past $100 a barrel Thursday amid renewed fighting and military strikes that have left global oil supplies stranded in the Middle East.

Beyond paying higher prices at the gas pump, consumers may need to brace for higher inflation and a potential Fed rate hike. Brent crude oil prices hit $100 a barrel on Thursday for the first time since May,