Falling debris from an intercepted drone caused a major fire at the United Arab Emirates oil-trading hub of Fujairah, the latest in a series of incidents to affect energy facilities in the Middle East. Civil defense units are working to bring the blaze under control, the Fujairah Media Office said in a post on X. […]
Chief Executive of the Ghana Chamber of Oil Marketing Companies, Dr. Riverson Oppong, has assured that Ghana is unlikely to face an immediate fuel shortage despite rising tensions in the Middle East. Speaking in an interview on Joy FM’s Top Story, Dr. Oppong explained that Ghana sources most of its fuel from Western markets, not the […]
Ghana’s Minister for Energy and Green Transition, Hon. Dr. John Abdulai Jinapor (MP), on Tuesday convened a high-level meeting with key stakeholders across the country’s petroleum upstream and downstream sectors to assess the potential impact of the ongoing crisis in the Middle East on the nation’s fuel security. The engagement brought together representatives from the […]
Oil prices posted their largest single-day gain in four years as conflict in the Middle East disrupted tanker traffic through the Strait of Hormuz and heightened concerns about supply from one of the world’s most critical producing regions. Brent crude climbed roughly 9% after briefly topping $80/bbl, while diesel futures jumped more than 20% at […]
Oil swung in a turbulent session amid speculation the U.S. may join the Middle East conflict, with traders focused on flows through the region’s vital shipping chokepoint.
Oil prices extended gains on Thursday after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and concern over its impact on oil.
European shares started the week strong, lifted by global oil gains amid Middle East conflict fears and a slew of upbeat earnings, though a drop in Reckitt tempered the rally.
Crude oil futures rose Wednesday as Federal Reserve officials indicated that interest rates have likely reached their peak
LONDON, Jan 29 (Reuters) – Oil prices dipped on Monday as China’s ailing property sector took another hit while a drone attack on U.S. forces in Jordan added to supply disruption concerns in the Middle East and Houthi militants stepped up attacks on vessels in the Red Sea.
Brent crude futures were down 0.9%, or 73 cents, to US$78.15 a barrel by 0735 GMT, while U.S. West Texas Intermediate crude futures were at US$73.43 a barrel, down 0.8%, or 64 cents