Amid an escalating Israeli air campaign against Iran, calls are mounting in Tehran to withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and close the Strait of Hormuz, one of the world’s most critical oil routes. The archenemies have been trading fire since June 13 after

A peak in global oil demand is still on the horizon, the International Energy Agency (IEA) said on Tuesday, doubling down on its forecast that demand will plateau by the end of the decade.  China’s oil demand, which increased by a cumulative 6 million barrels per day (bpd) in the decade to 2024, is

The European Union should be open to re-evaluating the ban on Russian gas imports it is currently seeking to enforce if a peace deal is brokered between Russia and Ukraine, a top Austrian official has said.  As the EU seeks to end its dependency on Russian energy, the European Commission is set to

Mitsubishi Corp. is about to acquire the shale and pipeline assets of Aethon Energy Management and is ready to pay up to $8 billion for them, Reuters has reported, citing unnamed sources. The deal would give Mitsubishi a solid presence in shale gas, the publication said, adding the assets were

Three tankers are reportedly on fire in the Gulf of Oman, according to social media posts, as cited by the Hindustan Times. Kpler energy analyst Amena Bakr said on X that a British maritime security provider had reported it was aware of an unspecified incident in the area. An outlet for shipping