A growing number of empty supertankers have been turning away from the Persian Gulf as escalating Iranian attacks threaten a critical transfer hub for wartime oil shipments.

President Donald Trump’s deal for Russian diesel exposed the US to legal questions, opened a rift with his Republican allies and European leaders and heightened tensions with Ukraine — all in exchange for an outcome that experts suggest is unlikely to succeed.

Bulgaria summoned Russia’s ambassador to Sofia after two ships were hit off the country’s coast, as concerns mount over the security of Black Sea shipping.

This weekend’s deadly attacks on Riyadh’s main airport have demonstrated the ability of Yemen’s Houthis to strike at the heart of Saudi power, raising the risk of a dangerous escalation that could draw in the US.

Saudi Arabia is looking at ways to expand its oil pipeline capacity to destinations outside the Persian Gulf to 10 million barrels a day within two to three years, said Energy Minister Prince Abdulaziz bin Salman.

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By Catherine Lucey and María Paula Mijares Torres Oct 11, 2026 (Bloomberg) –President Donald Trump said Sunday that Russia and Ukraine had agreed to an “energy ceasefire” effective immediately. “Both parties...

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By Patrick Van Oosterom Oct 9, 2026 (Bloomberg) –The Dutch government proposed a legal change to crack down more effectively on Russia’s shadow fleet, prompting the Russian embassy to threaten its...

By Lucia Kassai Oct 9, 2026 (Bloomberg) –When hurricanes sweep through the Gulf of Mexico, oil companies can lose millions of dollars waiting for the all-clear to restart production. Shell Plc...

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Nearly 500,000 barrels a day of oil-refining capacity sit in the projected path of Hurricane Isaias, raising the risk that a US fuel market with no supplies to spare will lose critical output.

For a sign of just how extraordinary oil shipping costs have become, consider this: It’s now more expensive to hire a tanker from the US to China than to launch a rocket into space.

The Houthis struck two airports in Saudi Arabia in the past two days, killing three people and injuring dozens as the Iran-backed militant group intensifies its attacks on the kingdom from Yemen.

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(Bloomberg) — Saudi Arabia is in talks with customers to offer oil loadings next year outside the Strait of Hormuz in long-term contracts, formalizing a system the kingdom has been...

(Bloomberg) — Supertankers are racing to the Middle East to cash in on soaring fees for carrying oil through the Strait of Hormuz, exacerbating a global shortage of vessels that...

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Indian refiners have cut back Russian crude purchases for November delivery, as rising competition from China pushes up prices at a time when buyers can tap alternative shipments from the Middle East.