Tillerson ouster shakes up energy diplomacy
American policy towards Iran and Venezuela will likely grow harsher, injecting more risk into energy markets
Rex Tillerson is out as US secretary of state after being unceremoniously sacked by his boss via Twitter this week. Oil spiked briefly on the news, but quickly reversed on short-term worries over surging US supply and ended the day down. But Tillerson's ouster is likely to be bullish for oil in the months ahead. The former ExxonMobil CEO was both pilloried for his performance leading the State Department, but also seen at home and in foreign capitals as a moderating influence within the Trump administration. His apparent successor Mike Pompeo, who has been heading up the CIA, will bring a harder version of Trump's "America First" philosophy to the diplomatic scene. On Iran, Tillerson had pub
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
