Kazakhstan’s KazMunayGas (KMG) has reallocated oil exports to the Caspian Pipeline Consortium (CPC) system and Russian ports amid the suspension of transit via the Druzhba pipeline, KMG has stated....
US Treasury yields fell on Wednesday, as oil prices plunged on reports that the United States and Iran were closing in on an agreement for a one-page memorandum to...
Saudi Arabia has posted a sharp rise in its budget deficit amid declining oil revenues due to the effective closure of the Strait of Hormuz. The kingdom’s budget shortfall...
Crude oil prices extended losses for a second day today, after President Trump said the United States would pause its plan to escort vessels out of the Strait of...
Lufthansa Group expects the surge in jet fuel prices to cost it an additional $2 billion this year as the closure of the Strait of Hormuz “is leading to...
US oil product exports surged to a record 8.2 million barrels per day last week as countries scrambled to replace fuel supplies disrupted by the Hormuz crisis, according to...
OPEC’s second-largest producer, Iraq, is offering huge discounts of up to $33.40 per barrel off the official selling prices for its crude that has to move through the Strait...
The agreement covers the operation of the Shelf Drilling Victory rig for an initial period of two years, with options for extension. The contract value, originally estimated at 347.6...
OCBC Bank has struck a deal to acquire parts of HSBC’s wealth and premier banking portfolio in Indonesia, adding over 300,000 customers to its Indonesian subsidiary and potentially opening doors...
Older Americans are sitting on $110 trillion of wealth. Their heirs might not get it anytime soon. Financial advisory firms like to talk about a looming event called “the...