In response to spiking oil prices stemming from the U.S.-Israeli strikes on Iran, President Trump said he will be releasing 172 million barrels of oil from the nation's Strategic Petroleum Reserve.

Dozens of countries have done the unprecedented, releasing an historic amount of crude from emergency reserves to prevent high oil prices from crippling the economy. If that doesn’t work, there’s only ...

US Iran War News LIVE: Iranian Parliament Speaker Mohammad Baqer Qalibaf said that any US aggression against Iranian islands in the Gulf will prompt Tehran to “abandon all restraint.” ...

Markets seesawed on Day 13 of the war in the Middle East, as two oil tankers were struck by projectiles near Iraq's southern ports and attacks between Israel and Hezbollah intensified.

Oil prices briefly spiked above $100 per barrel early Thursday after a total of six tankers were attacked by Iran in the Persian Gulf and the Strait of Hormuz. The two most recent attacks, apparently ...

The Dept. of Energy announced that it has been authorized by Pres. Trump to release 172 million barrels from the U.S. Strategic Petroleum Reserve.

Iran has been striking oil infrastructure in Gulf Arab states and has effectively halted cargo movement through the narrow Strait of Hormuz—a key route that normally carries about one‑fifth of the ...

Dubai, Abu Dhabi, Iran war news Live updates: Iran continued to target oil sites across the Middle East, with a drone attack at Oman's Salalah port, a container ship reportedly struck off Jebel Ali in ...

We will respond fully, turning the Persian Gulf into a grave for invaders,” he said in a post on X. Homeland or Death! Any ...

Iran intensified its attacks across the Gulf region, targeting shipping routes and infrastructure including areas near the Dubai International Airport, as the conflict involving United States and ...

The proposal from the ministry also suggests that companies such as ONGC, GAIL and EIL will set up the entity. Additionally, storage at existing terminals was also part of the proposal.

As crude prices climb, countries including the United States plan a large release of oil from strategic reserves in a bid to stabilise global markets.