
QatarEnergy and Chevron have formally entered as non-operating partners in offshore hydrocarbon exploration blocks off Uruguay's coast, in areas operated by Shell, state energy company Ancap announced. The incorporation of two of the world's largest energy companies reinforces international interest in Uruguay's offshore petroleum potential, a frontier exploration area that has gained prominence over the past two years.

Iran suspended tanker traffic through the Strait of Hormuz just hours after its ceasefire with the United States took effect, in response to continued Israeli strikes against Hezbollah in Lebanon. The move jeopardizes a truce that had barely begun to ease the worst global energy crisis in decades.

The United States and Iran agreed to a two-week ceasefire on Tuesday night, just 90 minutes before a deadline President Donald Trump had set to launch massive strikes against Iranian civilian infrastructure. The deal, brokered by Pakistan, pauses a six-week conflict that has killed thousands and triggered a global energy crisis.