Iran

Edge of the precipice: The US-Iran crisis of 2026

The next few days will test whether diplomacy can prevail over the momentum towards military confrontation

Iran was the third-biggest Opec crude producer in 2025, according to US Energy Information Administration data.

Oil prices climb 2% after US shoots down Iranian drone, worries about armed boats

[NEW YORK] Oil prices climbed about 2 per cent on Tuesday after the US shot down an Iranian drone approaching a US aircraft carrier and armed boats approached a US-flagged vessel in the Strait of Horm...

Iran and the US will resume nuclear talks on Friday, officials from both countries told Reuters.

Oil settles down over 4% on US-Iran de-escalation, easing supply worries

[NEW YORK] Oil prices fell more than US$3 per barrel on Monday after US President Donald Trump said Iran was “seriously talking” with Washington, signaling a de-escalation of tensions with the Opec me...

Brent crude futures were down US$2, or 2.9 per cent, to US$67.28 per barrel at 0100 GMT on Monday.

Oil prices fall by 3% on US-Iran de-escalation

[TOKYO] Oil prices fell 3 per cent on Monday as US President Donald Trump said over the weekend Iran was “seriously talking” with Washington, signalling de-escalation with an Opec member after risks o...

US President Donald Trump (left) with China President Xi Jinping at the Apec Summit in South Korea on Oct 30. Trump’s additional tariff on countries doing business with Iran could spark retaliation from Beijing, the primary purchaser of Iranian oil.

Fragile US-China truce threatened by tensions over Iran

Trump warns of Venezuela-style change in Teheran. How will Beijing react?

Saudi Crown Prince Mohammed bin Salman (right) affirmed his country’s support for any “efforts that would resolve differences through dialogue” to bolster security and stability in the Middle East.

Saudi Arabia won’t allow airspace to be used for military action against Iran, crown prince says

A US aircraft carrier and supporting warships have arrived in the Middle East

Brent crude futures rose US$1.82, or 2.8 per cent, to settle at US$65.88 a barrel, the highest since Jan 14.

Oil rises nearly 3% as US sends armada to Iran, slaps new sanctions

OIL prices settled at their highest in over a week on Friday (Jan 23) after US President Donald Trump ratcheted up pressure against Iran through more sanctions on vessels that transport its oil, and a...