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
Government mandates Shell, Santos, and Origin Energy to reserve one-fifth of output for domestic use starting July 2025. Australia will require energy companies to reserve 20% of their natural gas production for the domestic market to prevent east coast supply shortages. T
The Norwegian oil producer reported a sharp rise in first-quarter profit driven by higher crude prices and a one-time impairment reversal. Aker BP posted a significant increase in first-quarter earnings as higher oil prices and a reversal of previous impairments boosted re
Drones from Russia damage oil storage in Latvia Two drones from Russia have crashed in Latvia, causing damage to an oil storage facility. The incident has raised concerns about the potential disruption to oil supplies in the region. The crash is likely to e
WTI consolidates below $93.00 as traders assess likelihood of US-Iran peace deal West Texas Intermediate (WTI) – the benchmark US Crude Oil price – oscillates in a range during the Asian session on Thursday and, for now, seems to have stalled the previous day's modest bounce...</