Shell PLC (LSE:SHEL, NYSE:SHEL) shares jumped over 2% after it said stronger trading and improved refining margins should support second-quarter performance, although production has been hit by disruption to output from Qatar following the war in the Middle East.
India’s state oil refiners are planning to reduce their reliance on the Middle East following the supply shock of the Iran war, and will lean more heavily on alternative options including through spot-market purchases, according to people familiar with the matter. Processors are seeking to trim the volume they buy from producers in the Middle East under […]
The Government’s push to refine more Ghanaian crude oil locally was partly driven by concerns over potential disruptions in global energy markets arising from escalating geopolitical tensions in the Middle East, according to Energy and Green Transition Minister, Dr. John Abdulai Jinapor.
The oil and gas crunch caused by the war between the U.S., Israel, and Iran, has cost global businesses $25 billion, Reuters reported today, adding that the bill is going to climb higher still. The publication analyzed corporate statements issued after the war started, finding that as many as 279 companies had cited the war as a […]
President Donald Trump said Chinese President Xi Jinping supports diplomatic efforts aimed at reopening the Strait of Hormuz as ongoing disruption to Middle East shipping continues to pressure global energy markets.
Nigeria’s oil production rose 106,000 month-on-month to 1.48 million barrels per day in the month of May. That’s according to data from OPEC Monthly Oil Market Report. Meanwhile, investors continue to monitor the fragile Middle East ceasefire and await outcome of talks between U.S. President Donald Trump and China’s Xi Jinping in Beijing. Chinnan Dikwal, Vice Chair of African Energy Council joins CNBC Africa for more.
WTI Crude Oil May 2026 market: Current pricing suggests a 50% chance of reaching $110, a 23% chance of reaching $120, and a 14% chance of hitting $130. Recent trends indicate increasing probabilities for higher price thresholds.
Oil prices jumped as critical energy infrastructure and tankers in the Middle East came under attack, marking a significant escalation in the US-Iran hostilities and jeopardizing a four-week-old ceasefire.
Japan will establish a USD 10-billion financing framework to help Asian countries secure energy resources and build oil stockpiles as tensions in the Middle East strain supply chains, Reuters reported on Wednesday.
TotalEnergies has shut down operations in the Middle East for approximately 15% of its total production, the company has said in a statement outlining its exposure to the US-Iran war.