Petrol prices in the UK have hit a new high since the Iran war began, as the price of oil jumped back up to $100 per barrel following fresh US strikes. The average price of a litre of petrol is now 159.43p in the UK, according to motoring services firm the RAC This
The company gains operational control of a block containing legacy fields with over 200 million barrels of discovered oil in place. Afentra has taken a 35% operated interest in Angola’s KON4 block after securing formal approval for a Risk Service Contract. The block, locat
China’s top offshore crude oil and natural gas producer, CNOOC, on Wednesday announced the launch of full production from phase one development of the Kenli 10-2 oilfield in the south Bohai Sea. The Kenli 10-2 oilfield cluster is China’s largest offshore shallow-layer lith
Brent prices fluctuate as Iran seeks release of half its $24bn frozen assets in nuclear talks, delaying deal clarity. Brent crude prices reversed half of Monday’s losses before slipping again as optimism over a US-Iran nuclear deal waned. Shifting expectations around the a
Oil prices retreat nearly 4% as traders react to potential easing of US-Iran tensions, reversing prior gains. West Texas Intermediate crude fell to $88.90 per barrel, down nearly 4% in European trading, erasing over 3% gains from the previous session. The decline follows r
Oil prices dropped by 2% early on Wednesday as hopes of a U.S.-Iran deal outweighed concerns about rapidly drawing inventories amid the still closed Strait of Hormuz and fresh U.S.-Iran hostilities. As of early Wednesday trade in Europe, WTI Crude prices, the U.S. benchmar
ADNOC sends second LNG carrier to India Emirati ADNOC has sent a second LNG carrier through the Strait of Hormuz. The vessel is sailing to India, with the Umm Al Ashtan stopping its geolocation signal around May 2. This follows a report that ADNOC has been using
Brent oil prices dip slightly from recent highs, easing pressure on US Treasury yields amid limited pullback. Brent crude prices have pulled back from a recent peak near USD 100.5 per barrel to around USD 98. The decline, though modest, is seen as sufficient to alleviate s
A rare US strategic petroleum reserve cargo heads to the Philippines as Middle East supply routes face prolonged disruptions. A US-flagged tanker carrying crude from the Strategic Petroleum Reserve has departed for the Philippines, marking the first such shipment to Asia s
Oil prices retreat on hopes of US-Iran ceasefire progress but face pressure from renewed military actions in the Middle East. West Texas Intermediate crude fell to $90.75 in early European trading Wednesday, extending losses after US-Iran peace talks raised supply expectat
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