143 stories found
For the second consecutive day, stock markets in Europe and Asia are experiencing significant declines, with crude oil and gas prices soaring due to escalating tensions in the Middle East. Fears of a prolonged crisis and a potential blockade of the Strait of Hormuz are causing widespread economic concern.
Shipping markets are reacting to rapidly escalating developments in the Middle East, with significant upward pressure on freight rates and tanker values.
As attacks continue between the United States and Iran, among others, concerns about the supply of natural gas and crude oil are growing in the European energy market, leading to significant increases in futures prices for both.
Iraq Halts Crude Oil Shipments Via Key Pipeline to Turkish Port Bloomberg.com
Ratings agency Morningstar DBRS said crude oil prices have risen sharply since coordinated attacks by the United States and Israel against Iranian military targets began on February 28, heightening…
India imports about 88% of the crude oil it needs — the raw material for fuels such as petrol and diesel — with more than 50% supplied by Middle Eastern countries
Dangote has increased the ex-depot price of Premium Motor Spirit (PMS) by N100 to N874 in Nigeria, a move attributed to a surge in crude oil prices impacting the downstream market.
Hungary is preparing a cooperation protocol with Slovakia regarding crude oil pipelines, as announced in the latest Hungarian Official Gazette, alongside other government decisions.
Sugar prices are being bolstered by the rising strength of crude oil.
India is contemplating potential increases in petrol and diesel prices as crude oil approaches the $80 mark, driven by ongoing tensions in the Middle East. Domestic fuel prices have remained stable since April 2022 despite global fluctuations.
India is closely monitoring its crude oil and fuel supply amid escalating Middle East tensions. The government assures domestic availability and affordability of petroleum products. Disruptions in Qatar's LNG production and Saudi Arabia's oil refinery have already impacted global markets, with European gas prices surging.
Fuels for Ireland CEO Kevin McPartlan said although crude oil prices have increased substantially, this will have little impact on the wholesale prices.
If the crisis blocks the Strait of Hormuz, 15 million barrels of crude oil per day will be prevented from reaching the markets.
Stock market today: Nifty50 and BSE Sensex crashed in pre-open trade on Monday amidst rising Middle East tensions and global market turmoil, with impact on crude oil prices and trade in focus.
Regarding the attack on Iran by the United States and Israel, if the impact on navigation in the "Strait of Hormuz" is prolonged, it could be a major blow to Japan, which relies on the Middle East for crude oil imports. The government and companies are closely monitoring the local situation and trends such as crude oil prices at the start of the week.
Barclays analysts forecast that Brent crude oil prices could reach $80 a barrel, citing escalating tensions between the United States and Iran as a key factor.
The Strait of Hormuz is a narrow maritime passageway which is not only important for the transit of around 202-25% of the world’s crude oil trade, but also for trade in other crucial commodities.
At least 150 oil tankers, including those carrying crude oil and liquefied natural gas, have anchored in the open waters of the Gulf, beyond the Strait of Hormuz, with dozens more stationed on the other side.
Major oil companies, trading houses, and international shipowners have suspended shipments of crude oil, refined products, and LNG through the Strait of Hormuz, following the US and Israeli attacks on...
A new book, 'El oro negro de Franco,' reveals how the Texas Oil Company not only supplied crude oil to Franco's forces during the Spanish Civil War but also engaged in espionage and provided sensitive intelligence reports.
Cuba is experiencing its most severe crisis in over half a century due to a critical shortage of crude oil, exacerbated by what is described as a 'hybrid blockade' around the island, raising questions about the country's future and potential for new leadership.
President John Dramani Mahama has announced that the Tema Oil Refinery (TOR) has resumed processing crude oil into petroleum products for the first time since 2018. Delivering his State of the Nation Address, the President told Parliament that the refinery’s new management has successfully completed extensive turnaround maintenance, paving the way for the facility’s operational […]
Iran has reportedly tripled its oil loading rate, with approximately 10 million barrels of crude oil and condensate accumulating offshore weekly, as tensions with the US escalate.
Hungary's Prime Minister Viktor Orban has asked the EU for a fact-finding mission over disruptions to a pipeline which delivers Russian crude oil.
Kazakhstan's crude oil and gas condensate production reached 99.6 million tons in 2025, a 12% increase from the previous year, largely influenced by the Tengiz Expansion project.
WTI crude oil prices extended losses following a significant 11.4 million barrel build in crude inventories, the largest in three years, outweighing geopolitical risk premiums.
The Druzhba pipeline serves as the primary conduit for Russian crude oil deliveries to Hungary and Slovakia. Shipments through the pipeline have stalled since the end of January.
US oil major Chevron has sold its first cargo of Venezuelan crude oil to Reliance Industries since December 2023, according to ship tracking data and two sources.
The CEO of Diamondback Energy has stated he is increasingly confident about an upbeat macroeconomic outlook for crude oil.
Despite Western sanctions, Russia's crude oil exports have surpassed levels seen before the invasion of Ukraine, with China, India, and Turkey absorbing almost all of the country's foreign oil shipments.
Kaleykino serves as a critical receiving and mixing terminal that aggregates crude oil flows from several Russian regions.
Indian stock markets opened higher on Monday, with Nifty50 and BSE Sensex trading in green, boosted by positive global cues. This optimism follows a US Supreme Court ruling against President Trump's tariffs, though new tariff increases were announced. Crude oil prices dipped as nuclear negotiations progressed.
Crude oil prices are experiencing downward pressure as concerns about global energy demand weigh on the market.
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
Oil futures are edging higher due to ongoing tensions between the U.S. and Iran, coupled with a significant decline in U.S. crude oil stockpiles, raising fears of conflict and supply disruptions.
Crude oil prices are being supported by heightened geopolitical tensions and a decrease in US supplies, contributing to an upward trend.
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
Viper Energy (VNOM) and Permian Resources (PR) are being considered among the best crude oil stocks to invest in, with Permian Resources specifically noted as a strong buy due to increasing global tensions.
Crude oil prices are being supported by increasing geopolitical risks globally.
India's Commerce Minister Piyush Goyal stated that India is looking to diversify its sourcing of crude oil and coking coal, expressing interest in high-quality coal from the U.S.
Oil prices remain volatile due to geopolitical tensions and oversupply concerns, with OPEC+ expected to resume output increases and Asia's crude oil consumption shifting supplier mix.
Crude oil prices have seen a weakening trend following reported progress in ongoing nuclear talks between the United States and Iran.
Indian equity markets staged a strong comeback on Monday, with the Sensex and Nifty surging nearly 1 percent. This rebound was fueled by robust buying in power, banking, and financial stocks. The positive sentiment was further bolstered by easing US bond yields and expectations of monetary easing, alongside stability in the rupee and crude oil prices.
The biggest trigger for the rupee’s fall has been the surge in crude oil prices. Brent crude climbed above $82 per barrel after jumping 12% in just two days.
Forex traders said the domestic currency is under severe pressure due to a sharp spike in crude oil prices, with Brent Crude crossing the $82 per barrel level in futures trade in the wake of the Iran crisis
Due to the situation in Iran, the number of tankers and cargo ships passing through the Strait of Hormuz, a crucial energy transport route, has rapidly decreased, and according to ship location data analysis, there have been zero since 1 PM Japan time on the 3rd.
Crude oil prices have significantly increased, causing diesel prices to rise and prompting warnings about potential fuel price shocks, with some social media campaigns playing on public fear.
Greek Mogul On Why Iran Attacks, Elimination Of Gray Fleet Is Boosting Tanker Fortunes Forbes
The situation in the Middle East is escalating. This is also evident in crude oil prices. The price of the raw material was already at very high levels, and yet the increases are still growing - warn brokers.
If the conflict drags on, India may further diversify energy imports, both crude oil and liquefied natural gas (LNG).
Saudi Arabia significantly boosted crude oil supplies to India in February, nearly matching Russia's top position. This surge, the highest in six years, reflects a shift by refiners away from some Russian volumes. However, ongoing Gulf disruptions may force India to seek alternative import routes, potentially altering the supply landscape.
Long-term large-cap energy outlook remains bullish, supported by higher WTI crude oil. But the surge in BKR and XOM makes short-term charts look stretched.
Venezuela's crude oil exports saw a significant increase, doubling in February under the oversight of the United States.
Brent crude oil prices are projected to range between $80 and $90 a barrel this week.
Crude oil prices have risen sharply, while stocks are down, as investors weigh the fallout of the US-Israeli attacks on Iran.
The price of WTI crude oil jumped to $82 per barrel, becoming the highest since July 2024. The initial reactions of stock markets to the war were downward, but far from panic.
Eight countries that are part of the OPEC+ oil organization announced on Sunday that they would increase crude oil production, while American and Israeli forces launched a major attack on Iran, and that country…
It is unclear who is governing Iran, the fourth-largest oil producer in OPEC, after U.S.-Israel strikes killed Ayatollah Ali Khamenei.
The Tehran regime decides to block the world's largest crude oil crossroads, but other OPEC countries are ready to compensate with an increase in production
Singapore on inflation alert as Gulf conflict threatens oil and gas price surge The Straits Times
Exceeding the threshold of 9-10 lei/liter for fuels becomes realistic in Romania if crude oil prices stabilize at 90-100 dollars/barrel following the conflict in the Middle East, which…
Oil majors and trading houses say they have suspended crude oil, fuel and liquefied natural gas shipments
The Astana Times provides news and information from Kazakhstan and around the world. ASTANA – Approximately 63 million tons of Kazakh crude oil were transported in 2025 via the Tengiz-Novorossiysk pipeline system, operated by the Caspian Pipeline Consortium (CPC), the company reported following a meeting of its Corporate Governance Bodies in Abu Dhabi on Feb. 25-26. In total, the Tengiz-Novorossiysk pipeline transported 70.52 million tons of oil last… The post Around 63 Million Tons of Kazakh...
The United States is seeking the forfeiture of the Motor Tanker Skipper, a vessel seized in December, and approximately 1.8 million barrels of crude oil cargo supplied by Venezuela's state oil company.
The European Commission has stated that the decision on whether Croatia has the right to refuse the transit of Russian crude oil to Hungary and Slovakia rests with Croatia, emphasizing each member state's responsibility for implementing sanctions.
The price of Azeri Light crude oil has increased by nearly 2%, reflecting a broader upward trend in global oil prices.
Cypriot, Greek, and Maltese shipping operators are expected to be significantly affected by a proposed EU ban on maritime services supporting Russia's seaborne crude oil exports. Brussels is seeking G7 backing before implementing the measure.
The European Commission believes Hungary and Slovakia's crude oil supply is not immediately threatened despite damage to the Druzhba pipeline infrastructure, urging accelerated repairs.
Croatia is evaluating the legality of importing Russian crude oil via sea to supply Hungary and Slovakia, following damage to a pipeline.
Russia's oil monopolist Transneft has reduced crude oil pumping by 250,000 barrels per day after a Ukrainian drone attack on a key pumping station serving major oil hubs and ports.
Saudi Arabia Records Largest Budget Deficit Since 2020 Via The Cradle Saudi Arabia recorded its widest quarterly budget deficit in five years in the final three months of 2025, as lower crude oil prices weigh down the kingdom's finances, Bloomberg is reporting. Data released by the Saudi Ministry of Finance shows the government posted a deficit of 94.9 billion riyals ($25.3 billion) in the fourth quarter, which brought the total shortfall for 2025 to nearly 276.6 billion riyals...
A Ukrainian drone attack on the Kalyeykino pumping station, part of the Druzhba pipeline system in Tatarstan, has reportedly forced Russia's Transneft to reduce crude oil intake by about 250,000 barrels a day.
A report indicates that Russian crude oil export volumes remain 6% higher than pre-war levels in Ukraine, despite a decline in 2025 and Western sanctions against its 'ghost fleet'.
An IT error has revealed a large-scale Russian oil smuggling operation involving 48 companies sharing the same private email server. This server is also used by a company that has rapidly become the largest exporter of Russian crude oil.
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
Companies are rushing to secure refunds for tariffs they have paid, anticipating a significant ruling that could impact their financial liabilities.
Hungary to release 1.8 million barrels of crude oil from strategic reserves Reuters
Oil Futures Gain on Rising Fears of U.S.-Iran Conflict The Wall Street Journal
U.S. crude oil inventories recorded a significant decrease.
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
Crude oil prices have experienced a significant jump due to heightened geopolitical risks and a reported decrease in US oil supplies.
The Energy Information Administration (EIA) reported a significant draw in crude oil inventories, with a fall of 9 million barrels for the week ending February 13.
Both North Sea Crude and West Texas Intermediate (WTI) oil benchmarks have continued to weaken, indicating a downward trend in crude oil prices.
Exclusive sources indicate that U.S. refiners Phillips 66 and Citgo are seeking to purchase crude oil directly from Venezuela.
Asia is consuming large quantities of crude oil, but geopolitical factors are causing a shift in the mix of suppliers.
Energy & Utilities Roundup: Market Talk The Wall Street Journal
Sources indicate that US refiner Valero is set to import up to 6.5 million barrels of crude oil from Venezuela in March, marking a significant energy transaction.
Denys Shmyhal said that the damage caused by the Russian attack on the pipeline supplying crude oil to Hungary and Slovakia is still being assessed.
Russia has been unable to benefit from the global surge in crude oil prices due to several days of Ukrainian drone attacks and severe winter storms, which have sharply limited its oil export capacity.
Analysts warn the price of crude oil will rise due to the conflict between the US, Israel and Iran, and that the war will have a direct impact on Argentina's energy balance La entrada What effects…
Cumulatively, they account for fifty days of sufficiency, the source added
Polish Prime Minister Donald Tusk stated that the war does not directly impact crude oil and other fuel supplies to Poland, assuring that there are no issues with fuel reserves in the country.
Ghana could face sharp fuel price hikes and rising living costs if global crude oil prices surge as a result of the ongoing US–Israel strikes on Iran, economist Godfred Bokpin has warned. Speaking…
Following military operations against Iran by the United States and Israel, ministers have successively made statements regarding the impact on Japan and the country's response. Minister of Land, Infrastructure, Transport and Tourism Kaneko announced that the safety of Japan-related vessels navigating the Strait of Hormuz, a crucial transport route for crude oil and other goods, has been confirmed at this time, and that he is calling for them to anchor in safe locations.
Beyond the war, this week will see a highly-awaited February jobs report along with key earnings from Target, Broadcom and beaten-down CrowdStrike.
Iran conflict may hit pause on Japan's economic recovery as crude oil soars Nikkei Asia
Wall Street opened with a significant decline, and European stock markets fell on the third day of the Middle East conflict, while Brent crude oil prices rose.
The Dangote petrol price has increased from N774 to N875/litre. Discover the reasons behind the hike, linked to global crude oil price volatility. Read More: https://punchng.com/breaking-dangote-refinery-raises-petrol-price-to-n875/
Gas prices have jumped 50% and crude oil prices 10% due to the ongoing conflict involving Iran, the US, and Israel, with markets closely watching for signs of stability in the Strait of Hormuz.
Ongoing US-Israel conflict with Iran is impacting India's economy, particularly through rising crude oil prices and potential trade disruptions.
The ProShares K-1 Free Crude Oil ETF has declared a monthly distribution of $0.2652 per share.
Regarding the attacks on Iran by the United States and Israel, Takahide Kiuchi, Executive Economist at Nomura Research Institute, estimates that if the military conflict prolongs and continues to affect crude oil transportation through the Strait of Hormuz, the rise in crude oil prices would push down the domestic real GDP by 0.18% annually.
The Revolutionary Guards announced the closure of the Strait of Hormuz, a move that is expected to instantly alter the global energy balance and impact oil and gasoline prices.
Exporters have raised strong concerns that the conflict could disrupt shipping through the Strait of Hormuz and the Bab el-Mandeb Strait, both of which are crucial maritime corridors.
Analysts expect crude oil prices to rise to $85 per barrel due to the blockade of the Strait of Hormuz, and above $100 if the conflict escalates
The closure of the Strait of Hormuz and US-Israeli strikes in Iran are reigniting the specter of a surge in crude oil prices.
The U.S.-Israeli strikes on Iran and counterattacks by Tehran could severely disrupt the global supply of crude oil and send prices soaring to levels not seen in years, analysts su...
The US and Israeli strikes against Iran could severely disrupt the global supply of crude oil and send prices soaring to levels not seen in years. – Major producer – Iran remains just inside the world’s top 10 oil producers even though its output has fallen sharply since the 1970s, hit in particular by rounds […] The post How US strikes on Iran will affect oil market – Report appeared first on Vanguard News.
Petroleum product prices in Ghana are projected to see a slight increase starting March 1, 2026, driven by a surge in crude oil prices.
The Druzhba pipeline exported some amount of Ukrainian oil, as well as much larger quantities of Russian crude oil, before being damaged a month ago by a Russian attack that led…
A European nation is reportedly preparing to secure Russian crude oil for two other countries, potentially facing difficulties with US sanctions.
An Indonesian court has jailed nine people in a major corruption case involving subsidiaries of state energy firm Pertamina, including two former chief executives of its units, which prosecutors say caused US$17 billion in state losses. The case, which centres on alleged illegal leasing of a fuel terminal and illegal imports of crude oil, among other offences, is one of the biggest launched under the administration of President Prabowo Subianto, who has vowed to eradicate corruption. The nine...
The price of Azeri Light crude oil has dropped to $71.46 at Augusta Port, although it remains above the country's budget benchmark.
According to Mol, this could finally "end the numbers war." The company is still awaiting Janaf's response on whether they will allow Russian crude oil shipments arriving from the sea.
Brent crude oil prices are maintaining levels near $71 per barrel, though market volatility remains high.
Fuel prices in Greece are anticipated to increase by the end of the week, driven by the rising price of Brent crude oil, which is influenced by heightened geopolitical tensions and concerns over new sanctions on Iran.
Crude oil futures continued to decline following statements from Iranian officials indicating readiness for a potential deal with the United States.
Ukraine has further delayed the restart of the Druzhba crude oil pipeline until February 26, with the Slovak Ministry of Economy stating they have not received an explanation for the latest postponement.
A new analysis from a think tank reveals that Russia's crude oil export revenues have fallen by 18 percent over the past year, despite an increase in export volumes.
India is reducing its imports of Russian crude oil, and with the EU's ban on Western tanker services, Moscow's already strained budget situation is expected to worsen, forcing Russia to sell its oil at lower prices.
A weekly review indicates that crude oil prices have experienced mixed trends, reflecting varied market movements.
The government in Budapest announced that it "will put into circulation" approximately 1.8 million barrels of crude oil from its strategic reserves, after a Russian attack on the Druzhba pipeline on January 27th in
Oil Futures Edge Higher Amid Ongoing U.S.-Iran Tensions The Wall Street Journal
Oil futures gained significantly due to escalating fears of a conflict between the U.S. and Iran, further supported by a substantial decline in U.S. crude oil stockpiles.
Oil prices are pushing above $70 due to investor fears of a U.S. strike on Iran and concerns about potential supply disruptions, despite a crude glut at sea and a hefty decline in U.S. crude oil stockpiles.
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
U.S. Crude Oil Stockpiles Post Hefty Decline The Wall Street Journal
The U.S. Energy Information Administration (EIA) has reported a decrease in both crude oil and fuel stocks.
Phillips 66 and Citgo are reportedly seeking to buy crude oil directly from Venezuela, according to Reuters.
Crude oil and precious metals experienced a significant jump in prices following increased tensions between the U.S. and Iran, alongside a breakdown in Russia-Ukraine talks.
Crude oil prices are rising due to increasing geopolitical risks and the robust economic performance of the United States.
Oil prices lose ground on hopes of de-escalation in US-Iran tensions Reuters
WTI Midland crude oil prices in the North Sea market have seen a slight increase.