US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in the Islamic Republic in response – the latest flare-up to test a fragile ceasefire. US Central Command said Iran on Tuesday launched several ballistic missiles toward countries including Kuwait and Bahrain. Some were shot down by […]
Oil prices climbed sharply in early Asian trading on Thursday as the Middle East conflict continued to escalate and energy infrastructure was targeted across the Gulf.
Refiners are beginning to balk at eye-watering premiums on available oil barrels, threatening to slow down the flow of the world’s most traded commodity as the war in the Middle East upends energy markets. Markups of as much as $40 a barrel above benchmarks in the Middle East, $13 in Brazil and $10 in Azerbaijan […]
Two oil tankers were hit in Iraqi waters, the latest in a string of attacks on ships in the Persian Gulf that are raising risks to global energy supply from the deepening Middle East war. The strikes on the vessels off the coast of Iraq prompted the nation’s oil terminals to suspend operations. The latest […]
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.