The anti-government protests in Libya over power cuts and high electricity bills over the past few days escalated on Tuesday, with protesters entering the Mellitah Oil and Gas complex and threatening to halt gas and fuel supplies for both the domestic and international markets.</
Crude Oil prices hold at one-week lows on Tuesday, after having depreciated more than 12% from last week's highs. The US benchmark West Texas Intermediate (WTI) barrel remains pinned near the $80 level at the time of writing as investors cling to hopes that the fragile tru
Brent crude drops below $85 per barrel as geopolitical risks fade and bond yields retreat ahead of the Fed decision. Oil prices extended their decline, with Brent crude falling below $85 per barrel, as easing Middle East tensions reduced supply disruption fears. The pullba
Japan is planning to join the rush to diversify oil export routes away from the Strait of Hormuz by investing in pipeline projects abroad, notably in the Middle East. Citing a document produced by the country’s economy ministry, Bloomberg reported the investment will be ma
Government aims to cut reliance on imported fuels and bolster energy security amid global supply risks. Australia has initiated a feasibility study for a new oil refinery, the first potential facility of its kind in the country since the 1960s. The move is part of a broade
Speculation over potential US-Iran peace talks weighs on oil prices, pushing WTI 12% below last week’s highs. West Texas Intermediate crude trades marginally above $80, extending losses as optimism grows over diplomatic progress between the US and Iran. Prices have fallen
Saudi Arabia considers increasing crude prices for Asian buyers to offset higher shipping costs from Red Sea disruptions. Saudi Aramco is weighing a $5 per barrel increase in crude prices for Asian customers due to rising shipping costs. The adjustment follows the need to
Brent crude fell sharply as markets priced in reduced geopolitical risks, reversing last week’s surge despite limited impact on actual oil flows. Brent crude prices plunged 8.7% to USD 88.36, marking the steepest one-day decline in over three months. The drop followed a th
Oil prices fall as US-Iran tensions ease Oil prices continued to trend lower in early Asian trade. WTI crude was trading at $81.55 per barrel, down 1.28% on the session. Brent crude had slipped to $87.36 per barrel, a decline of 1.13%
Crude prices stabilize after recent declines, with traders monitoring diplomatic talks that could ease supply constraints. West Texas Intermediate crude oil prices remain steady near $81.00, consolidating after sharp losses in the previous session. The benchmark hovers jus
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