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Saudi oil giant Aramco says the world has lost about one billion barrels of oil since the joint US–Israeli war of aggression against Iran triggered the most severe shipping disruptions ever recorded in the Strait of Hormuz.

Iran says its oil production and exports continued without disruption during the 40 days of the US-Israeli aggression, while officials explore new revenue streams tied to tighter control of the Strait of Hormuz.

In the first quarter of 2026, Iran's steel production reached 7.26 million tonnes, placing it firmly in the tenth position globally.

Brent crude prices surged by as much as 7% during Thursday's global market trading, driven by intensified fears over further disruptions to oil supplies from the Middle East.

Gold prices remained steady near their lowest levels in a month during Wednesday’s global trading sessions. Demand for the precious metal has largely softened as geopolitical uncertainties persist, causing investors to recalibrate their portfolios.

Oil prices have risen after Iranian officials emphasized that the Strait of Hormuz will “under no circumstances” return to its previous state for the US and its allies.

The Iranian national beach soccer team secured its place in the knockout stage of the Asian Beach Games by defeating Saudi Arabia 2-1 in their final group match.

Officials from Iran and the Republic of Turkmenistan have stressed the need to expand cooperation in the fields of transit, trade and economy.

New data from the Iranian Steel Producers Association (ISPA) reveals a 6.2% growth in intermediate steel production over the past year (ending March 2026). This achievement comes despite severe energy constraints and the unprecedented challenges of two military conflicts—the 12-Day War and the Ramadan War—occurring within a single twelve-month cycle.

Global oil prices have surged after US President Donald Trump said the US Navy would enforce a blockade on the Strait of Hormuz, a strategic waterway through which about 20 percent of the world’s oil passes.

A powerful explosion has ripped through an oil refinery in the southern US state of Texas, with no cause of the blast quickly confirmed.

Islamic Republic of Iran has earned $8.7 billion profit from selling oil since the outbreak of recent war waged by US and Israel against the country on Feb. 28

Iran has rejected claims by the United States Department of the Treasury regarding a temporary suspension of sanctions on Iranian oil, describing the move as an attempt to influence global oil prices.