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The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint.

Tanker rates extended gains as tensions in the Middle East ratchet higher, with shipowners demanding bigger fees to call at ports in the Persian Gulf after the U.S. launched strikes on Iran.

President Donald Trump demanded that energy producers push down crude prices following U.S. military strikes on Iran.

Global markets appeared to take the U.S. strike against nuclear targets in Iran in stride as investors watched June 23 to see how Iran will react.

The cost of hauling refined oil out of the Middle East surged on June 17 as shippers reacted to the conflict between Israel and Iran.

Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes since June 13 as they assess the risks from Israel’s conflict with Iran.

The barrage of headlines has revived memories of the political upheavals and price spikes of the 1970s — and yet even when oil prices have jumped, it inevitably proved short-lived.

Israel’s airstrikes on Iran drove up freight rates and tanker stocks June 13 as traders and investors priced in the prospect of disruption to a large swath of the global oil-shipping fleet.

The U.S. sees domestic crude production declining next year for the first time since 2021 in a blow to President Donald Trump’s push for American energy dominance.

The measure would open new opportunities for oil and gas development in the mammoth National Petroleum Reserve-Alaska, an Indiana-sized parcel in the northwest of the state.