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 […]
Odfjell Drilling has returned its Deepsea Atlantic semisubmersible rig to operations following a 106-day off-hire period after an equipment handling incident earlier this year.
Oil prices fell sharply in early Asian trade on Monday after President Trump called off another round of military strikes on Iran, raising hopes that a diplomatic route to reopening the Strait of Hormuz and averting a broader regional conflict could be found.
Brent oil advanced to the highest since early June as traders weighed threats to maritime traffic that span from the Strait of Hormuz and the Red Sea to a key Kazakh export terminal on Russia’s coast. The global benchmark rose 2% to settle around $91 a barrel as the US conducted a 10th straight day […]
Oil prices remained elevated Tuesday after President Donald Trump abandoned plans to impose a 20% transit fee on cargo moving through the Strait of Hormuz, while the U.S. intensified pressure on Iran by resuming its shipping blockade and launching a new round of military strikes.
The European Union failed to endorse a 21st sanctions package against Russia on Monday, putting the bloc at risk of undermining one of its key tools to restrict the Kremlin’s oil revenue.
Oil prices jumped by 4% in Asian trade on Monday, following a weekend of intense U.S. strikes on Iran, claims from Iran that the Strait of Hormuz is closed to traffic once again, and Iranian strikes on five U.S. allies in the region. Brent Crude futures surged by 4% to top $79 per barrel in Asian […]
The UAE’s biggest oil company is proposing a new pricing methodology for the sale of crude supplies to term customers, said people with direct knowledge of the matter, opting for an approach that’s more aligned with wider regional trading norms. Abu Dhabi National Oil Co.’s crude-marketing team has spoken with refiners and traders about the […]
Germany may be getting cold feet about ending its oil reserve waiver. Berlin said this week it is considering extending a temporary reduction in national oil stockpiling requirements beyond the current August 31 deadline, even as markets celebrate the U.S.-Iran agreement and the expected reopening of the Strait of Hormuz. Officially, Germany insists there are […]