Continued oil flows through the Strait of Hormuz and a restart of Saudi Arabia's East-West pipeline could ease physical supply pressures, analysts at MUFG said. However, persistent tanker attacks and limited progress in U.S.-Iran diplomacy should keep oil-market volatility and the geopolitical risk premium elevated, they said.

Satellite images show growing oil pollution as a result of the Middle East conflict, raising concerns for turtles, whales, reefs and mangroves.

Oil prices rose over 2% Thursday as US-Iran talks stall and a possible diesel export ban adds pressure on energy markets.

Iran has consistently vowed to escalate its attacks against the U.S. if it’s struck again, including with new targets and weapons.

Binance faces a new federal Iran sanctions inquiry after its $4.3 billion 2023 settlement failed to end U.S. scrutiny of alleged illicit trading.

The oil and gas sector shrank 26 percent, new official data shows, pointing to the costs of the US-Israel war on Iran.

FRANKFURT, Germany (AP) — When Iran shut down the Strait of Hormuz at the start of the war, choking off sea passage for some 15 million barrels of oil a day, many feared that prices would skyrocket, cratering the world economy.

By Helen Clark PERTH, Sept 23 (Reuters) - Oil prices drifted lower on Wednesday as Saudi Arabia began restoring crude supply on a critical pipeline to the Red Sea and on hopes for a diplomatic solution to the US-Iran war through talks at the UN in New York.

Oil prices rose amid renewed Middle East escalation concerns after Saudi Arabia said it intercepted six ballistic missiles launched at the kingdom, while U.S.-Iran talks showed little sign of progress.

Israeli Prime Minister Benjamin Netanyahu promises 'surprises' for UN speech one day after the son of the Israeli Ambassador to the US was injured in a West Bank attack. Iran continues to accelerate its nuclear program pushing crude oil prices up.