Iraq
New initiative launched to redirect Gulf energy flows away from Strait toward Mediterranean
Syria envisioned as key cog in new energy distribution network.
Asia needs Azerbaijan as Hormuz risks grow
The escalating crisis in the Middle East and severe disruptions to energy transportation through the Strait of Hormuz have once again demonstrated how vulnerable the global oil and gas market remains to instability.
Inventory drawdowns mask impact of Hormuz disruption as clock runs down towards a September supply crunch
Global oil markets are relying heavily on inventory drawdowns to offset a supply shock caused by the closure of the Strait of Hormuz, with OECD stockpiles potentially reaching stress levels by mid-September if current trends persist, according to Oxf
US votes through new war powers act to try and halt Iran war
The US House just voted 215 to 208 to end the Iran war, by passing a new War Act, that is unlikely to have any impact on the Iran conflict as US President Donald Trump is widely expected to veto the motion.
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Panama-flagged tanker hit by explosion in Iraqi waters in Persian Gulf
A cargo vessel was struck by an explosion from an unknown projectile 40 nautical miles southeast of Umm Qasr, Iraq, UKMTO confirmed, with authorities investigating.
Trump seeks tougher terms in revised Iran deal
Ceasefire and nuclear negotiations between Washington and Tehran have moved forward after US and Iranian negotiators drafted a new agreement, but President Donald Trump has sent the proposal back with tougher demands, with Iran to respond this week.
Global oil inventories falling at record pace, critical storage threshold about to be breached - IEA
Global oil inventories are declining at a record rate as the market absorbs a major Middle East supply disruption, raising the risk of sharp price increases if the Strait of Hormuz remains closed, according to the International Energy Agency.
US and Iran near nuclear deal, US officials say agreement 95% done
The United States and Iran are within reach of a landmark nuclear agreement, with negotiators reporting that a framework deal is 95% complete, according to officials cited by Fox News on May 24.
Russia oil and gas revenues up 40% in May on Iran war pressures
Russia’s oil and gas revenues are expected to jump 39% year on year in May to about RUB700bn ($9.8bn), buoyed by higher global crude prices driven by the conflict involving Iran, according to Reuters calculations published on May 20.
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Iraq posts $24.7bn trade surplus for 2025 on oil exports
Iraq recorded a trade surplus of close to $24.7bn in 2025, with exports of $90.43bn against imports of $65.74bn, supported by oil shipments that account for the bulk of state revenues.
Iraqi SIM card trade emerges in Iran's western border regions
A market for Iraqi SIM cards has emerged in towns along Iran's western border as internet restrictions push traders and residents towards foreign mobile networks to reach messaging apps blocked inside the country.
BEYOND THE BOSPORUS: PKK renames itself Apoist Movement Management
Scores of names can be traced back to the 1970s Revolutionaries of Kurdistan.
Iraq’s Al-Zaidi government gains parliamentary approval
The Iraqi parliament voted to grant confidence to the government of Ali Falih Al-Zaidi, approving both its ministerial programme and 14 cabinet ministers during a parliamentary session attended by 270 lawmakers,
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Iraqi hackers claim cyber attacks on US tech giants eBay and Spotify
A pro-Iran hacking group calling itself Team 313 has claimed responsibility for cyber attacks on eBay and Spotify, causing millions in losses.
Iran claims anti-radiation missiles blinded US destroyers in Hormuz during Operation Project Freedom clash
Claim and counter claim are flying between Washington and Tehran about what happened during the 48 hours that Operation Project Freedom was in effect. Iranian state media claims it used a sophisticated anti-radar missile to blind three US warships.
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Fitch raises 2026-27 oil and gas price assumptions on prolonged Hormuz closure
Fitch Ratings has raised its 2026-2027 oil and gas price assumptions on a longer Strait of Hormuz closure, assuming reopening around July, with Brent expected at USD100-110 per barrel through July before falling to USD70 by September.
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Iraq drops out of Thai rice market due to Hormuz blockage
Thailand has not shipped any rice to Iraq in three months as the Middle East war halts deliveries to its largest market, with Bangkok losing more than 200,000 tonnes of regional exports and shipping costs up 20%
Qatar resumes LNG shipments through Strait of Hormuz after 70-day wartime halt
Qatar has sent its first liquefied natural gas cargo through the Strait of Hormuz since the outbreak of the Iran war in late February, marking a tentative resumption of energy exports through the strait.
The Iran war exposes fiscal fragility around the world
The Iran war has arrived at the worst possible fiscal moment for most of the world's major economies. Governments spent heavily on Covid, defence and two energy crises. Fiscal space across most of the developed world is limited or exhausted.
US strikes Iran after destroyers come under fire in Hormuz, Project Freedom collapses
The fragile ceasefire between the United States and Iran came under its most severe test yet on May 8 as Iranian forces launched missiles, drones and fast-attack boats against three US Navy destroyers transiting the Strait of Hormuz.