Geopolitical tensions in the Strait of Hormuz push oil security concerns higher despite Brent crude trading at multi-week lows. A cargo ship attack near Oman has reignited security concerns in the Strait of Hormuz, a critical chokepoint for global oil shipments. The incide
Renewed tensions in the Strait of Hormuz fail to lift oil prices as markets bet on the fragile Iran-US deal holding. Brent crude remains near $73.8, the lower end of its weekly range, despite a cargo ship being hit near Oman, raising security concerns in the Strait of Horm
Eight empty LNG carriers have arrived at Qatar’s Ras Laffan hub, signaling a rapid recovery in exports after recent disruptions. Eight empty LNG carriers have docked at Qatar’s Ras Laffan export hub, preparing to load superchilled gas in the coming days. An additional vess
WTI Oil trades at $69.65 The US benchmark West Texas Intermediate (WTI) barrel is changing hands at $69.65. This is the lowest price since February 27. The decline is attributed to expectations of higher Middle East supply.
West Texas Intermediate falls to $69.65, the lowest since late February, as supply expectations weigh on prices amid easing geopolitical tensions. West Texas Intermediate crude trades at $69.65, extending a sell-off that has pushed prices down over 30% since late May. The
Brent and WTI crude retreat despite an Iranian vessel strike, as tanker traffic in the Strait of Hormuz rebounds sharply. Crude oil prices headed for a weekly loss as tanker traffic in the Strait of Hormuz rebounded, easing supply concerns. Brent crude traded at $73.78 per
Iraq’s potential departure from OPEC could trigger uncoordinated production, pressuring Brent below $50 for the first time since COVID. Iraq’s threat to leave OPEC if output restrictions persist removes the cartel’s sixth-largest producer from supply controls, deepening fr
Cocaine trade generated $16.5 billion for Colombian drug cartels, exceeding the $15 billion from oil exports this year. Colombia’s cocaine trade revenue reached $16.5 billion in 2024, outpacing the $15 billion earned from oil exports, according to research from a local uni
Iran's attack on a cargo ship halts UN evacuation plan Iran fired on a Singapore-flagged cargo vessel near the Strait of Hormuz, warning vessels transiting outside designated routes cannot be guaranteed safe passage. The UN International Maritime Organization paused i
High freight costs and Strait of Hormuz concerns prompt Asian buyers to scale back spot crude purchases after recent buying surge. Asian refiners have reduced spot purchases of Middle East crude for October and November loadings, reversing a three-week buying spree. Buyers
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