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.
The Yemeni Houthis have struck Saudi Arabia’s southern province of Najran in the latest flare-up of Middle Eastern hostilities, killing 11 civilians, Reuters has reported, citing a spokesman for the military coalition led by Saudi Arabia that fights the Houthis in Yemen.
West Africa-focused Tullow Oil (TLW.L), opens new tab forecast annual production at the higher end of its forecast range on Wednesday and raised its free cash flow projection, encouraged by strong performance at its Ghana fields and better-than-expected oil price realisations.The company has been reshaping its business around Ghana by selling assets in Gabon and Kenya and […]