The Iranian military has vowed to prevent crude products from being transported out of the Persian Gulf, citing the resumed airstrikes by American forces. The Islamic Revolutionary Guard Corps...
The Brent Crude futures curve flipped into backwardation this week, signaling expectations of tight prompt supply for the first time in a month, as the market started pricing in the renewed...
Oil prices have surged to their highest level in a month as renewed hostilities between the United States and Iran continued for a third consecutive day, dampening hopes for...
A Russian drone strike on a commercial vessel in Ukraine’s Odesa region has killed five seafarers and injured 12 others in one of the deadliest single strikes on commercial...
The transition terminates the refinery’s usage of naira for refined product sales, which was implemented as part of the Federal Government’s naira-for-crude plan in October 2024. Under the new...
The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran,” Trump wrote on Truth Social on Monday morning. “We are reinstating the THE IRANIAN BLOCKADE, so...
China’s crude oil imports crashed to a decade-low in June as the reduced flows through the Strait of Hormuz hiked oil prices and reduced refiners’ appetite for costly crude....
OPEC has trimmed its 2026 global oil demand growth forecast for the third straight month, even as crude production rebounds across the Gulf and tanker traffic slowly returns to...
Iran is estimated to have sneaked supertankers with a total of 12 million barrels of crude oil in the week between the end of the U.S. waiver on Iranian...
India, the world’s third biggest oil importer and consumer, was hit hard by the blockade of the Strait of Hormuz during the Iran war. About a fifth of the...