At current oil prices, Tehran receives roughly $40 billion in revenue annually from oil transiting the same waters. That is a tenth of what the entire of country produces in goods and services.

NEW YORK (AP) — If oil prices are any measure, Iran just flinched. The price of oil tumbled Monday afternoon in an historical move as traders bet that Iran's decision to bomb a U.S.

Oil sells off as traders calmly look beyond the bombs in the Middle East If oil prices are any measure, Iran just flinched ...

An Iranian missile attack on the Haifa refinery in Israel has led to a partial shutdown and rising oil prices, sparking concerns over potential supply disruptions and further escalation in the ...

Oil-shipping rates for Middle Eastern routes have spiked after some tanker owners and managers paused offering vessels as they assess risks from Israel’s conflict with Iran, fueling concerns ...

Russia's oil pipeline monopoly Transneft's oil flows have continued to decline this year amid the OPEC+ deal and technological challenges, the company's First Deputy CEO Maxim Grishanin said on ...