Oil prices rose about 4% on Wednesday, after Vice President JD Vance said Iran did not address U.S. red lines in nuclear talks this week and President Donald Trump reserves the right to use military force. U.S. crude oil rose $2.65, or 4.25%, to $64.98 per barrel by 12:20 p.m. ET. Global benchmark Brent was…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has stated that Africa is projected to attract between $48 billion and $50bn in the oil and gas sector in 2026. Speaking during the opening of the 10th Anniversary of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2026, NUPRC’s Commission Chief Executive, Oritsemeyiwa Eyesan, this is…
Trowbridge in Somerset, England, on March 15, 2025. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday posted fourth-quarter profit in line with expectations, shortly after crude prices dipped below $60 a barrel for the first time in nearly five years. The London-listed energy firm reported underlying replacement cost…
Stakeholders in the oil gas sector have decried the continuous loss of jobs and investment in Africa due to lack of local value addition in crude oil production in the continent. The experts who spoke during the 9th Nigerian International Energy Summit (NIES) said there is the need to finance refineries in Africa to increase…
Washington — President Trump announced Monday that he and Indian Prime Minister Narendra Modi have agreed to a trade deal that will lower tariffs on products from India to 18% and halt India’s purchase of Russian oil. In a post on Truth Social, the president said Modi also committed to buy American products at a…
US President Donald Trump speaks to reporters while in flight on Air Force One, traveling from Shannon, Ireland en route Joint Base Andrews in Maryland on January 22, 2026. Mandel Ngan | Afp | Getty Images U.S. President Donald Trump‘s warning that a U.S. “armada” is heading toward Iran has deepened concern of potential military…
US forces say another Venezuela-linked tanker seized as Trump continues moves to take control of nation’s oil reserves. Published On 16 Jan 202616 Jan 2026 Click here to share on social media share2 Share United States forces have seized an oil tanker in the Caribbean that the Trump administration said had links to Venezuela, the…
The US has seized a sixth tanker in the Caribbean Sea in its ongoing efforts to control exports of Venezuelan oil, officials say. The vessel, Veronica, was boarded in a predawn operation “without incident” as it was defying President Donald Trump’s “quarantine of sanctioned vessels”, said the US military. “The only oil leaving Venezuela will…
Oil prices fell more than 4% on Thursday, after comments from U.S. President Donald Trump eased market speculation that an American strike on Iran could be imminent. Brent crude oil futures, the global benchmark, lost 4.13%, or $2.75, to $63.77 a barrel. Front-month West Texas Intermediate crude lost $2.65, or 4.27%, to trade at $59.37…
Iranians gather while blocking a street during a protest in Tehran, Iran on January 9, 2026. Mahsa | Afp | Getty Images Crude oil prices rose more than 2% on Tuesday, after U.S. President Donald Trump canceled all meetings with Iranian officials and promised protesters that help is on the way. U.S. crude oil rose…
