Retail gasoline prices surge to highest levels since July 2022 amid geopolitical tensions and tightening fuel inventories. U.S. retail gasoline prices have climbed above $4.50 per gallon for the first time since July 2022, driven by escalating crude oil costs and shrinking
Pakistan on Wednesday issued a tender seeking to urgently buy two LNG cargoes for delivery later this month as the country struggles to cope with a gas and power crisis amid disrupted LNG supplies from the Middle East. Pakistan LNG Limited (PLL), the state-owned company pr
Expectations of eased sanctions could boost Iranian crude exports, adding supply to global markets. Oil prices declined as investors priced in the likelihood of a nuclear deal between the US and Iran. A potential agreement could lift sanctions, allowing Iran to increase cr
Brent and WTI crude futures plunged nearly 10% after reports of U.S.-Iran negotiations to pause hostilities and ease supply concerns. Oil markets tumbled Wednesday as investors reacted to reports of a potential U.S.-Iran agreement to halt conflict. Brent crude fell 8.58% t
Saudi Arabia cuts June oil prices by less than expected Saudi Arabia has reduced the official selling price of its flagship crude loading for Asia in June. The price cut was less than expected, with next month’s supply seeing the second-highest premium to benchmark
Venezuela disputes World Court authority over Guyana territory Venezuela claims the World Court has no jurisdiction in a dispute with Guyana over oil-rich territory. The territory in question is a significant factor in the region's oil production. The dispu
Global stocks rise on reported Iran peace deal A reported peace deal with Iran has sparked a surge in global stocks. The key factor is the potential impact on oil prices. Oil prices have slid on the news, as a peace deal could lead to increased oil production. <
Brent oil falls below $100 after US, Iran near deal Brent oil prices have fallen below $100 after a report that the US and Iran are nearing a deal to end the war. The price drop is a significant development in the global oil market. The potential deal betwe
Global stocks rise on reported Iran peace deal Global stocks surged due to a reported peace deal with Iran. The deal reportedly led to a decline in oil prices. This reaction indicates a positive market response to the news.
WTI crude oil drops 8.91% on US-Iran accord hopes West Texas Intermediate crude oil prices have fallen sharply, trading around $91.00. The decline is attributed to easing fears over the Strait of Hormuz following reports of progress in US-Iran talks. This de