Supply disruptions from Qatar push Pakistan to pay record spot LNG prices amid Hormuz crisis escalation. Pakistan LNG Ltd secured a spot liquefied natural gas cargo at $20.70 per million British thermal units, the highest price in four years. The deal follows Qatar supply
The gold-oil ratio surged to 55, three times its 50-year average, as both assets fail to sustain momentum post-war premiums. The gold-oil ratio has climbed to 55, marking a level three times its 50-year average, as neither gold nor oil can sustain a breakout. Gold failed t
The move aims to curb fuel exports as global supply tightens due to renewed Middle East shipping disruptions. India raised export taxes on diesel and jet fuel to nearly double their previous rates, effective July 16 for two weeks. The Finance Ministry adjusted duties in re
Oil prices retreat slightly but hold near one-month highs amid escalating US-Iran conflict and supply concerns. West Texas Intermediate crude oil trades just under $79.00, down over 1% in Asian trading, as investors await further developments in the US-Iran standoff. The c
Ukraine’s attacks on Russian refineries cut daily crude processing by 1.4 million barrels, tightening global diesel supplies. Russian refineries processed 3.91 million barrels of crude per day in early July, the lowest level since March 2005. The decline, driven by Ukraine
Brent settles higher near $80 a barrel Oil prices found support from a smaller-than-expected crude draw, which signaled stabilizing supply. The drawdown in US crude inventories was smaller than forecast, while distillate stocks built more than expected. The
Iran’s Strait of Hormuz blockade sends Brent above $86, marking a 40 percent gain since January amid escalating U.S.-Iran tensions. Brent crude surged above $86 this week, reaching a one-month high, after Iran’s Revolutionary Guard declared the Strait of Hormuz closed on J
CNOOC launches world’s first tension-leg platform floating wind turbine to supply energy for South China Sea oil extraction. China’s CNOOC has deployed a 16-megawatt floating offshore wind turbine, the first of its kind using a tension-leg platform, to power oil extraction
Crude futures settle at $79.60 after rebounding from intraday lows, easing bearish pressure near key technical levels. Crude oil futures closed at $79.60, up $0.26 or 0.33%, after trading in a wide range. Sellers drove prices down to $78.19, but the low held above Monday’s
WTI crude oil stays near one-month high West Texas Intermediate crude oil is trading near a one-month high due to supply risks. The price of WTI is around $78.70, up roughly 10% so far. Escalating Middle East tensions are keeping supply risks in focus, particular
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