Global oil demand is projected to decline by approximately 1 million barrels per day in 2026, marking the first drop since the 2020 pandemic peak, according to the International Energy Agency (IEA). This downturn stems from rising oil prices and physical supply disruptions caused by conflict between the U.S. and Iran, which hindered crude shipments … Read more
Unclaimed airstrikes across southern Iran have intensified regional uncertainty following the conclusion of a U.S. military campaign. According to the Associated Press, these strikes targeted locations in Bushehr, Sistan and Baluchestan, and the cities of Ahvaz and Chabahar, occurring shortly after U.S. Central Command confirmed its own 90-target operation had ended. While the U.S. denies … Read more
Ayatollah Ali Khamenei, the supreme leader of Iran for over three decades, was laid to rest Friday after being killed in Israeli strikes on Feb. 28. The Legacy of Ali Khamenei and the Islamic Republic Khamenei assumed power in 1989 following the death of Ayatollah Ruhollah Khomeini. According to the Associated Press, he spent his … Read more
Escalating hostilities in the Persian Gulf have triggered a surge in global oil prices after the U.S. military launched strikes against Iranian assets in response to attacks on commercial shipping. According to U.S. Central Command, American forces targeted Iranian air defense systems, radars, and over 60 small boats used by the Revolutionary Guard. These maneuvers … Read more
OPEC+ plans to increase oil production by 188,000 barrels per day starting next month, a move intended to stabilize global markets as fuel prices retreat from post-war highs. According to the Organization of the Petroleum Exporting Countries, seven nations—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—will participate in this output expansion, marking the fifth … Read more
Gen. Ahmad Vahidi, a general who leads Iran’s paramilitary Revolutionary Guard, appeared publicly for the first time in months as the nation begins a dayslong funeral process for the late Supreme Leader Ayatollah Ali Khamenei. According to The Associated Press, Vahidi’s reappearance at the Tehran funeral services suggests he remains a central figure in the … Read more
Iran’s military command has threatened a “forceful response” against any oil tanker that fails to follow its designated routes through the Strait of Hormuz. According to a statement from the Khatam al-Anbiya military command reported by Iranian state television, the country is asserting control over navigation protocols in the waterway, a move that challenges international … Read more
High-level negotiations in Switzerland aimed at ending the war between the U.S. and Iran concluded early Monday with an agreement to establish a “de-confliction cell” to manage hostilities in Lebanon. According to mediators from Pakistan and Qatar, the cell will coordinate with the Lebanese government to ensure military operations cease. However, the path to a … Read more
The United States officially lifted its blockade of Iran on Thursday, allowing oil tankers to resume transit through the Strait of Hormuz as a tentative ceasefire agreement took effect. While shipping activity has begun to normalize, the diplomatic rollout of the deal remains uncertain, with Vice President JD Vance delaying a planned trip to Switzerland … Read more
Group of Seven leaders have formally backed a tentative U.S.-brokered agreement between the White House and Iran to reopen the Strait of Hormuz and implement a ceasefire in the Middle East. According to the Associated Press, the deal aims to stabilize global oil markets and halt hostilities in Lebanon, though the official text remains private. … Read more