Oil pumping site deep in Russia may be ablaze A fire may have broken out at an oil pumping site in Russia. The site is located deep inside the country. No official statement has been released regarding the incident.
More social media speculation on Iran moving Oil markets EU mid-market update: Surprise hike by Norges bank; More social media speculation on Iran moving oil markets; UK govt being stress tested with local...
Front-month Brent Crude futures dropped to below $100 per barrel again in morning trade in Europe on Thursday, reversing earlier gains, as the market hopes the U.S. and Iran could be able to reach an agreement that would eventually reopen the Strait of Hormuz. Following a
Asia is facing plastics shortages because of the oil and gas supply crunch caused by the war in the Middle East, with medical supplies, packaging, and consumer products most vulnerable to a shock, the Financial Times has reported. The biggest problem for the world’s larges
Talks aim to secure additional crude flows and joint emergency stockpiles amid global supply concerns. Japan and the United Arab Emirates will begin negotiations to increase oil shipments and establish shared strategic petroleum reserves. The move follows Tokyo’s push to d
Oil prices fall for a third day as US-Iran talks fuel expectations of eased Middle East supply constraints. West Texas Intermediate crude dropped to $90.66, extending a three-day decline, as reports of progress in US-Iran negotiations raised hopes for the reopening of the
The world’s second-largest container line will offset higher fuel costs by increasing freight charges for customers. A.P. Moller-Maersk will pass elevated oil prices directly to shippers, its CEO said. The move follows a 15% jump in Brent crude since early June, lifting bu
The world’s second-largest container line will raise freight costs to offset surging fuel expenses, signaling broader inflation pressures. A.P. Moller-Maersk will increase shipping rates to counter higher oil prices, its CEO said. The move follows a 15% jump in Brent crude
Oil prices decline as traders weigh potential de-escalation in Iran tensions and improved Middle East supply routes. Brent crude prices fell sharply as markets reacted to prospects of peace in the Iran conflict. The potential easing of tensions raised expectations for a re
Oil prices drop as investors weigh potential easing of tensions in the Middle East and reopening of key shipping routes. Brent crude prices fell sharply as markets reacted to signs of potential de-escalation in the Iran conflict. The prospect of peace and a reopening of th