Energy

A scenic view of Abu Dhabi marina with modern skyscrapers and a flag in the foreground.

Drone strikes UAE’s Barakah nuclear plant for the first time — fire contained, no radiation released, IAEA expresses “grave concern”

Energy, Geopolitics, The Review Co, World /

A drone strike hit the UAE’s Barakah Nuclear Power Plant on May 17, 2026, sparking a fire at an external electrical generator — the first attack on the facility since the Iran war began. No radiation was released and no casualties were reported, but the IAEA expressed “grave concern.” No group claimed responsibility as U.S.-Iran ceasefire negotiations remain stalled.

Drone strikes UAE’s Barakah nuclear plant for the first time — fire contained, no radiation released, IAEA expresses “grave concern” Read More »

A well-lit offshore oil platform against a cloudy sky in Norway's waters.

Iran War Is Draining Global Oil Reserves at an Unprecedented Rate, IEA Warns

Energy, Markets, The Review Co, World /

The Iran war has triggered the largest oil supply disruption in history, with flows through the Strait of Hormuz collapsing from 20 million to 3.8 million barrels per day. The IEA reports global inventories fell 85 million barrels in March alone, physical oil markets are trading $20–$30 above futures, and strategic reserves are being drawn down at a record rate — with no diplomatic resolution yet in sight.

Iran War Is Draining Global Oil Reserves at an Unprecedented Rate, IEA Warns Read More »

Scenic view of multiple cargo ships anchored on the Bosphorus Strait under a cloudy sky in İstanbul.

Trump says 400 oil tankers are stranded at the Strait of Hormuz and predicts prices will “drop like a rock” when the war ends

Energy, The Review Co, World /

President Trump said on May 1, 2026 that around 400 oil tankers are stranded at the Strait of Hormuz and predicted that oil prices would fall sharply once a deal with Iran is reached even as analysts warn that the energy price shock could outlast the conflict itself.

Trump says 400 oil tankers are stranded at the Strait of Hormuz and predicts prices will “drop like a rock” when the war ends Read More »