BRICS Delhi Meet: Iran War and Oil Prices Test Unity Foreign ministers from BRICS met in New Delhi on May 14, 2026, as the Iran war, rising oil prices, and shipping risks shaped the agenda. India chaired the talks and pressed for safe, unimpeded maritime routes, stable trade, and stronger cooperation. The summit showed both … Read more
Oil Prices Ease After US Pauses Project Freedom in Hormuz Operation Oil prices dropped in early Asian trade on Wednesday. The decline followed US President Donald Trump’s announcement to pause “Project Freedom.” The operation was aimed at guiding ships through the Strait of Hormuz. However, the pause signaled a possible shift in approach toward the … Read more
UAE to Quit OPEC as Middle East Conflict Pressures Oil Markets The United Arab Emirates has announced it will leave OPEC and the broader OPEC+ alliance from May 1, 2026, marking a major break after nearly six decades in the cartel. The move comes on day 60 of the Iran led war in the Middle … Read more
US Waives Iran Oil Sanctions to Ease Price Surge The Trump administration has temporarily waived sanctions on certain Iranian oil shipments for 30 days. It happened with the aim to the ease soaring global energy prices that were triggered by the ongoing US-Israeli conflict with Iran. The decision was announced by the Treasury Secretary Scott … Read more
Oil Prices Jump After Strait of Hormuz Attacks Global oil prices have surged sharply on Monday after multiple vessels came under attack near the Strait of Hormuz. It intensified fears of supply disruptions as Iran escalates military strikes across the Middle East. The vital waterway, which carries nearly 20% of the world’s oil and gas … Read more