Oil & Gas Industry News

Treasury Secretary Scott Bessent said a U.S. insurance program meant to boost shipping through the Strait of Hormuz will begin soon.

'The marked escalation in the U.S.-Iran conflict over the past week puts all energy assets and infrastructure in the region at risk', Standard Chartered Bank Energy Research Head Emily Ashford warned.

Iran has likely earned hundreds of millions of dollars of extra income from oil sales since the start of the war.

Oil surged as uncertainty over Iran talks and Strait of Hormuz disruptions intensified supply concerns.

The Iran war was highlighted by several exploration and production companies in the 'comments' section of the first quarter 2026 Dallas Fed Energy Survey.

Rigzone talks to several analysts.

'The floor has moved up, so has the ceiling', Rystad Energy said.

Traders pulled back amid volatile swings tied to conflicting war and diplomacy developments.

'Weaponizing the Strait of Hormuz is not an act of aggression against one nation; it is economic terrorism against every nation', Ahmed Al Jaber, ADNOC's managing director and group CEO, said.

'Optimism surrounding a possible diplomatic breakthrough has eased supply fears', said Konstantinos Chrysikos, Head of Customer Relationship Management at Kudotrade.