Oil

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Saudi Arabia’s Mohammed bin Salman. The kingdom is the world’s biggest net exporter of crude.

Inside job: Why Saudi Arabia is losing its appetite for oil

You know that horror movie trope where the babysitter gradually realises the crazed killer is phoning, not from some distant location, but from inside the house? Something similar is happening in the oil market.

  • David Fickling

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Australian Prime Minister Anthony Albanese on a chariot with his Indian counterpart Narendra Modi before the fourth cricket Test between their nations in Ahmedabad in March 2023.

Trump’s fury at India is based on fact: Putin prospers when you fill up the tank

India is making money from Russian oil, and propping up Putin’s war effort. Despite sanctions, some of that oil ends up in Australia.

  • David Crowe
US President Donald Trump, right, and Narendra Modi, India’s prime minister, shake hands during a news conference in the East Room of the White House in Washington, DC, US, on Thursday, Feb. 13, 2025. The head of the world’s most populous nation faces a minefield in negotiations with Trump, who has signaled that India remains a potential tariff target despite a deepening partnership between the two countries. Photographer: Francis Chung/Politico/Bloomberg

‘War machine’: Trump to hike tariffs on India for buying Russian oil

This week is shaping as a critical juncture for the US president’s stalled efforts to mediate the Russia-Ukraine conflict, which he once said he could end in 24 hours.

  • Michael Koziol
ExxonMobil and Woodside Energy’s Marlin B platform in Bass Strait.

US giant ExxonMobil gives up control of critical Australian gas supplies

ExxonMobil will hand control of eastern Australia’s main source of domestic gas to Woodside, which wants to tap more supplies from rapidly depleting fields.

  • Nick Toscano
Iran’s parliament has voted to block shipping in the Strait of Hormuz.

Iran has vowed to choke global shipping. That could push petrol to $2.50 a litre

The Iranian parliament has voted to halt shipping through one of the world’s key energy choke points, risking retaliation from the US.

  • Mike Foley and Frances Howe

Australia an energy target as Iran-Israeli war triggers global turmoil

The risks in the Middle East conflict help explain exactly why one of the region’s major oil players is making a $36 billion bet on Australian energy.

  • Colin Kruger
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The battleground for Iran’s last stand could hold the world to ransom

Iran’s leader says he will not back down. Could he use a shipping choke point as leverage?

  • Angus Holland and Jackson Graham
War in the Middle East may lead to higher petrol prices at the pump.

Oil prices have jumped. Do you need to run to the petrol station?

There’s no crisis in oil markets yet, but your bill at the bowser might creep up.

  • Millie Muroi
An oil storage facility burns after being hit by Israeli airstrikes in Tehran, Iran, on Sunday.

Fight to the death: The world has to prepare for a Middle East energy storm

Markets are acting like the Middle East conflict will blow over as seen so often in the past. But this time it’s different. Does Trump understand what he did?

  • Ambrose Evans-Pritchard
Empire Energy, which has had a name change to Beetaloo Energy Australia, is kick-starting a hydraulic stimulation program under its new moniker at the company’s onshore Carpentaria-5H well, part of its Carpentaria gas pilot project in the Northern Territory’s massive Beetaloo Basin.

Empire/Beetaloo stimulates gas extraction at massive NT project

Beetaloo Energy Australia – formerly Empire Energy Group - has kick-started hydraulic stimulation activities at its Carpentaria-5H horizontal well in the NT’s massive Beetaloo Basin.

  • Craig Nolan