U.S. President Donald Trump said there is a possibility of resuming negotiations with Iran in Pakistan on Friday, after the ceasefire was extended indefinitely

International Energy Agency (IEA) Executive Director Fatih Birol warned that even if the Strait of Hormuz were to reopen immediately, it would take “a long time” to return to normal, with risks of rising inflation and slower economic activity

Iran will never hand over control of the Strait of Hormuz because it is an “inalienable right” of Tehran, said Ebrahim Azizi, a former commander of the Islamic Revolutionary Guard Corps (IRGC) and head of parliament’s National Security and Foreign Policy Committee

Iran said the Strait of Hormuz will remain “completely open” until the end of the ceasefire with the United States next Wednesday, following the start of a truce in Lebanon

BP said market conditions and oil price volatility driven by the war in Iran will affect its financial results for the first quarter of the year. The company expects an exceptional result in oil trading during the first three months of 2026

OPEC oil production plunged in March to its lowest level since the height of the COVID-19 pandemic in June 2020, a Reuters survey showed, as the U.S.-Israeli war against Iran effectively shut the Strait of Hormuz and forced export cuts

The United States Coast Guard will allow a Russian tanker to deliver more than 700,000 barrels of crude oil to Cuba, easing months of restrictions imposed by Washington on fuel shipments to the island

The U.S. Court of Appeals for the Second Circuit accepted Argentina’s emergency request to halt the discovery process related to enforcing a 2023 judgment issued by New York District Judge Loretta Preska

The U.S. government will hold an auction for oil and gas drilling rights in the National Petroleum Reserve in Alaska, the first since 2019, in what marks the latest test of industry interest in developing resources in the state

Spain has approved the release of up to 11.5 million barrels from its oil reserves over a 90-day period to counter supply shortages caused by the partial closure of the Strait of Hormuz