The worst-case oil scenario has been avoided, but inflation and slower growth continue to weigh on the global economy. More than 100 days into the Iran conflict, 20 percent of the world’s energy flows remain disrupted, with the scenario described as the biggest supply shock in history. For now, the nightmare scenario has been avoided. … Read more
NewsFeed The French navy has released video of its forces seizing a sanctioned Russian-linked oil tanker called the Tagor, in the Atlantic Ocean, 700km west of France. The Kremlin says the ‘illegal’ act borders on ‘international piracy’, while Russia’s embassy in Paris has demanded information about its citizens on board. Published On 1 Jun 20261 … Read more
Japan’s stock market surges to record high on hopes of an end to US-Israel war on Iran. Published On 25 May 202625 May 2026 Oil prices have fallen sharply amid tentative hopes for a deal to end the US-Israel war on Iran. Brent crude, the primary benchmark for global oil prices, fell more than 5 … Read more
This sanction waiver will allow the UK to import Russian crude oil refined in third countries, such as India and Turkiye. By AFP and The Associated Press Published On 20 May 202620 May 2026 The United Kingdom government said it had eased sanctions on imports of Russian jet fuel and diesel refined in third countries, … Read more
Kingdom announces sharp rise in budget shortfall amid the effective closure of the Strait of Hormuz. Published On 6 May 20266 May 2026 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 widened to 125.7 … Read more
The United Arab Emirates will withdraw from Organization of the Petroleum Exporting Countries (OPEC) on May 1, the UAE’s state news agency WAM said. “This decision aligns with the United Arab Emirates’ long-term strategic and economic vision and the development of its energy sector, including accelerating investment in domestic energy production,” the statement said. OPEC … Read more
Brent crude rises more than 2 percent after Washington and Tehran fail to hold second round of talks in Pakistan. Published On 27 Apr 202627 Apr 2026 Oil prices have climbed higher amid stalled peace talks between the United States and Iran. Brent crude rose more than 2 percent on Sunday after hopes for a … Read more
Kuwait oil refinery hit by drone attack as Trump threatens to strike Iran’s bridges and power plants BBC A Bid to Use Force to Open Strait of Hormuz Hits Roadblocks at U.N. Security Council The New York Times Day 34 of Middle East conflict — Oil prices surge as Trump’s Iran war speech fails to calm nerves CNN … Read more
Huge fires at Russian oil facilities following Ukraine strikes, satellite images show BBC Russia’s Baltic Oil Port Ust-Luga Damaged in New Drone Attack Bloomberg Russia expected a windfall from soaring oil prices, but Ukrainian drones are devastating exports Fortune At least 40% of Russia’s oil export capacity halted, Reuters calculations show NBC News Ukraine drones damage Russia’s Ust-Luga port … Read more
8 hours agoIran says it’s fighting ‘major world war,’ warns enemies won’t escape without a lesson Source link