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Tankers still cross Strait of Hormuz as Iran controls who gets through

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Oil prices are climbing, albeit at a slower pace, as the US and Israel's war with Iran enters its fifth day, with little to ease concerns over the safety of the Strait of Hormuz — a vital artery for the global energy supply.

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Earth News

‘Chained to fossil fuels’: Iran war ignites calls for green transition

After Iran warned that the Strait of Hormuz was closed for navigation, climate groups have urged governments to focus on clean energy.

Slovakia

Slovakia halts power supply to Ukraine as oil transit row deepens

Bratislava halted emergency power to Ukraine on Monday after Kyiv did not restore Druzhba oil transit as requested by Slovakia and Hungary, with Premier Robert Fico warning of further measures on EU support to Kyiv.

Cuba

Airlines unable to refuel in Cuba as US oil blockade deepens crisis

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As Trump pitches Venezuelan oil dream, experts warn it won't be easy

President Trump has set his sights on Venezuela's vast oil reserves, the largest in the world. If consolidated under Washington’s influence, about one third of global oil reserves could end up under US control. Yet, experts are skeptical about Trump's plans, saying it won't be cheap or easy.

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Oil rallies after Venezuela shock while safe haven assets also rise

Washington’s action in Venezuela jolted markets, with oil showing volatile price movements as investors considered long-term supply consequences. Gold and defence stocks also inched up.

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Explainer: Why Chevron operates in Venezuela despite US sanctions

Chevron’s continued presence in Venezuela looks like an anomaly amid intensifying US sanctions. In fact, the contradiction is rooted in selective enforcement to maintain leverage over Caracas, as well as decades of oil politics.

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Trump tightens oil sanctions on Venezuela with tanker blockade

By deploying naval forces to intercept sanctioned Venezuelan oil shipments, the Trump administration is pushing the enforcement of oil sanctions into uncharted legal territory, prompting concerns in Congress and among international law experts about escalation risks.

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Trump is open to sanctioning countries doing business with Russia

US lawmakers are drafting a bill that would sanction countries purchasing Russian oil and gas, aiming to choke off Moscow’s primary revenue stream as peace negotiations remain stalled.

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One in 25 COP30 attendees is a fossil fuel lobbyist, analysis finds

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Markets

European markets rise, oil prices jump on OPEC+ decision

Key European stock indexes started the week with gains, boosted by the oil sector and expectations for a range of corporate earnings this week.