Oil prices climb above 126 dollars per barrel as Iran continues to enforce shipping restrictions in the Strait of Hormuz affecting the United States and its allies.

The United Arab Emirates announces its exit from OPEC, marking a significant shift in global oil market dynamics and challenging Saudi leadership within the cartel.

The United Arab Emirates has announced its withdrawal from the OPEC oil cartel, challenging the influence of Saudi Arabia within the organization.

UAE formally exits OPEC and OPEC+ on May 1, ending nearly 60 years of membership and enabling independent oil production levels.

The United Arab Emirates formally exits OPEC and OPEC+ on May 1 after nearly six decades of membership. The move allows the UAE to set its own production levels outside the group's quota system as it seeks to expand output capacity.

WildFire Energy owners explore $4 billion-plus sale of US shale operator, sources say

Owners of WildFire Energy explore $4 billion-plus sale of US shale operator, sources say

Iran’s IRGC announces new control measures over 2,000 kilometers of coastline along the Gulf and the Strait of Hormuz. The move follows a directive from Supreme Leader Mojtaba Khamenei to increase oversight of the strategic waterway.

Iran’s Islamic Revolutionary Guard Corps (IRGC) has announced new control measures over approximately 2,000 kilometers of the country's coastline along the Gulf and the Strait of Hormuz, acting under the directive of Supreme Leader Mojtaba Khamenei.