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The first Gulf war left a weakened regime in place without a political settlement — paving the way for future conflict

For an Iranian regime facing existential struggle, pushing crude up is key measure of success

Leading banks forecast oil could push well above $100 as Trump says US can keep fighting ‘forever’

Europeans look for ways to restart energy shipments as Iran’s new supreme leader vows to keep strait shut

Tehran has done ‘more with less’ as it hit major targets around the Gulf, but its firing has begun to wane

The idea of making difficult trade-offs is alien to Trump

Evidence suggests that the US was most likely to be behind the attack that killed over 100 children

Millions of barrels of crude oil remain trapped by shutdown of the Strait of Hormuz

Beijing has driven major increase in strategic commodity inventories but their scale remains unclear

Move by Treasury comes after escalating crisis in Gulf sends Brent back above $100