What role is oil playing in the war in the Middle East and what's at stake?

As energy prices soar, Russia emerges as major winner of Middle East war

Russia has so far been the only winner from the war in the Middle East as energy prices soar and attention for its war against Ukraine has faded, EU Council President Antonio Costa has said. Late on Monday, US President Donald Trump and Russian counterpart Vladimir Putin discussed the war amid reports that Trump's administration is considering reducing oil sanctions on Russia - in a bid to boost world supplies of oil.

After Iran war panic, U.S. scales back Middle East evacuations as demand drops

<p>More than 43,000 American citizens have safely returned to the U.S. from the Middle East since the U.S. <a href="https://www.axios.com/2026/03/11/trump-iran-war-end-withdrawal" target="_blank">struck Iran</a> 11 days ago, the State Department said Wednesday. </p><p><strong>Why it matters: </strong>Despite <a href="https://www.axios.com/2026/03/03/state-department-iran-trump-flights-middle-east-americans" target="_blank">widespread panic</a> among Americans abroad last week after the State Department encouraged citizens to immediately evacuate various countries, the agency now says its scaling back assistance due to declining demand. </p><hr><p><strong>What they're saying: </strong>State Department Assistant Secretary Dylan Johnson said in a <a href="https://www.state.gov/releases/office-of-the-spokesperson/2026/03/statement-from-assistant-secretary-dylan-johnson-on-successful-operations-to-assist-american-citizens-in-the-middle-east-4/" target="_blank">statement</a> Wednesday tha...

U.S. to release 172 million barrels of oil from Strategic Petroleum Reserve as prices surge

Energy Secretary Chris Wright said Wednesday that the United States will release 172 million barrels from the Strategic Petroleum Reserve as part of the International Energy Agency's efforts to combat steep oil prices amid the Iran war.

Photos from Iran and across the Middle East as the war enters Week 2

More than a week of the U.S. and Israel's war against Iran has dragged in global powers, upended the world's energy and transport sectors, and brought chaos to usually peaceful areas of the region.

Nancy Mace says she flew to Middle East to get stranded Americans home

Rep. Nancy Mace (R-S.C.) said Thursday that a recent trip to rescue a South Carolina family who was stranded in the Middle East amid the war with Iran turned into a “full scale evacuation” of hundreds of Americans from the region. Mace, who is seeking the GOP nomination for governor in her home state, wrote…

The Pentagon is moving additional warships to the Middle East - investingLive