Crude oil prices are set for a modest weekly decline today, as reports of a strong rebound in oil flows out of the Persian Gulf trumped news of more U.S. troops moving to the Middle East and China’s Thursday decision to halt fuel exports this month.
Crude oil prices, which had been falling since last week, today reversed course and made gains ahead of a UN General Assembly session that many hope will yield some progress on peace talks between the U.S. and Iran.
Chinese independent refiners may be about to start reducing their processing rates as international oil prices rise and supply from major exporters such as Venezuela and Iran dries up as a result of U.S. foreign policy decisions.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon.
The Tema Oil Refinery (TOR) and Ghana Oil Company Limited (GOIL) have held a strategic meeting to explore further opportunities for collaboration in the supply and offtake of petroleum products produced by the refinery. The engagement, held on Wednesday, September 02, 2026, builds on the existing business relationship between the two institutions and seeks to […]
US oil prices topped $90 a barrel for the first time since late July as fresh American strikes on Iran raised concerns about prolonged disruptions to energy flows through the Strait of Hormuz. West Texas Intermediate rose 5.2% on the renewed fighting. US President Donald Trump said the attacks were in retaliation for Iran trying […]
Oil prices settled lower on Friday, also down for the week as traders evaluated hints about the U.S. Federal Reserve Bank’s inflation-fighting policy and rumors of a possible agreement on shipping through the Strait of Hormuz.
Crude oil prices dipped earlier today following news reports about Iran and Oman renewing their talks about joint management of the Strait of Hormuz, as those reports were taken to mean the waterway could soon reopen for normal traffic.
Despite the ongoing stalemate in the U.S.-Iran talks and persistent risks to shipping in the Middle East, oil prices fell in Asian trading on Thursday, weighed down by cuts to 2026 oil demand forecasts from both OPEC and the International Energy Agency.
Oil prices are up as uncertainty over a U.S.-Iran deal to reopen the Strait of Hormuz revived supply-disruption concerns with both sides demanding compensation, Monte Safieddine, Head of Market Research at Capital.com, said in a market analysis sent to Rigzone on Tuesday.