Asian oil refiners are increasing purchases of African and Brazilian crude as tanker shipping costs fall from October’s record levels, making imports from the Atlantic Basin more affordable. Freight rates for major oil tankers have declined by about 50% from last month’s peaks, reducing the cost of delivering crude to Asia by $5 to $10…
Saudi Arabia has boosted crude outputs to their highest levels since before the Iran war disrupted supplies in February, triggering a global energy and shipping crisis. An OPEC report issued on Wednesday said the world’s biggest oil exporter pumped 10.563 million barrels per day (bpd) of crude in October, up by over two million bpd…
A strong COP needs hosts that lead by example, but a repeated pattern has emerged of host countries compromised by their own oil and gas interests in recent years With each passing year, the climate emergency’s impacts are intensifying at a dangerous rate, necessitating ever more swift and bold action to end the world’s addiction…
Bottles of Spanish olive oil are displayed for sale at a Carrefour supermarket in Spain. Sopa Images | Lightrocket | Getty Images Shares of Deoleo, the world’s largest olive oil company, plummeted Thursday after two rivals announced plans to acquire the company, a deal that would further consolidate Spain’s dominance in the sector. Spanish olive…
If there was one safe bet over the course of 2026, it was that treasury yields would rise alongside a move up in oil futures contracts. Over the past month, that ended, and according to Jeffrey Rosenberg, senior portfolio manager of the Systematic Alternatives ETF (IALT) at BlackRock, the world’s largest asset manager, the breakdown…
A pumpjack operates outside of Midland, Texas, US, on Thursday, Oct. 15, 2026. Eli Hartman | Bloomberg | Getty Images Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia’s largest refinery. International benchmark Brent crude futures rose 0.7% to $114.68 per…
Kenya is Africa’s largest avocado producer. Miraj Shah and his cousin, Mitul, saw an opportunity to turn the country’s surplus avocados into oil. Their company, Crofts Ltd, now exports Kenyan-made avocado oil to more than a dozen markets around the world. How we made it in Africa editor-in-chief Jaco Maritz spoke to Miraj about his…
Iranian Foreign Minister Abbas Araghchi has praised his nation’s resilience after nearly eight months of war with the U.S., crediting civil defense efforts, national mobilization and cooperation between the armed forces and diplomatic service. “The victorious resistance of our beloved country during the enemy’s two recent acts of aggression has been made possible only through…
Oil prices climbed Thursday on worries over a possible escalation in the Middle East conflict as the U.S. reportedly plans to resume strikes against Iran. Brent crude futures rose 3.3% to $112.37 a barrel as of 9:15 a.m. ET after nearly reaching $113 earlier. U.S. West Texas Intermediate crude gained 2.8% to $99.88 after breaking…
Smoke rises above the city following an air attack on the oil terminal in Saint Petersburg on October 18, 2026, amid the ongoing Russian-Ukrainian conflict. Stringer | Afp | Getty Images Crude oil prices fell Monday as traders weighed possibly higher Russian supplies hitting the market after U.S. sanctions relief on Friday. Brent crude futures,…
