Oman’s Foreign Minister Sayyid Badr bin Hamad Al Busaidi, speaking Thursday after meeting with fellow top diplomats from Persian Gulf nations and U.S. Secretary of State Marco Rubio, said “future arrangements concerning the Strait of Hormuz will not involve imposing any transit fees.” Al Busaidi “reiterated Oman’s support for the memorandum of understanding signed between…
The price of Brent crude has reached its lowest since February 27, before the war started. Published On 25 Jun 202625 Jun 2026 Oil prices have extended their decline to levels last seen before the start of the Iran war, as expectations of rising supply from the Middle East outweighed demand concerns. Prompt-month Brent crude…
Cabinet ministers, Permanent Secretaries and heads of government agencies have concluded an inspection tour of key oil, gas and Africa Cup of Nations 2027 projects in the Bunyoro sub-region, expressing satisfaction with the pace of implementation. The delegation, led by Vice President Jessica Alupo, began its field visit at Hoima City Stadium on Saturday before…
There are moments when life in Moscow feels completely normal – Thursday morning wasn’t one of them, writes Steve Rosenberg.
At least 20 oil tankers have crossed the Strait of Hormuz since the U.S. and Iran began to reopen the sea lane to commercial ship traffic, according to the trade intelligence firm Kpler. Tanker transits on Thursday hit the highest level since June 2, the firm said. However, traffic is still below prewar levels when…
PORTLAND, ENGLAND – JUNE 14: Military helicopters are seen at the Smyrtos vessel outside the harbour, on June 14, 2026 in Portland, England. (Photo by Finnbarr Webster/Getty Images) Finnbarr Webster | Getty Images News | Getty Images British armed forces intercepted a Russian shadow fleet oil tanker in the early hours of Sunday, the U.K.’s…
The worst-case oil scenario has been avoided, but inflation and slower growth continue to weigh on the global economy. More than 100 days into the Iran conflict, 20 percent of the world’s energy flows remain disrupted, with the scenario described as the biggest supply shock in history. For now, the nightmare scenario has been avoided….
A stock broker at the Prudential Brokerage office follows the Hang Seng Index results in Hong Kong in March 2020. Sopa Images | Lightrocket | Getty Images Asia-Pacific markets were set to open mixed Wednesday as investors continue to grapple with volatile oil prices, while uncertainty over negotiations between Iran and the U.S. to end…
The Brugge oil tanker anchored off the Port of Long Beach in Long Beach, California, US, on Thursday, May 7, 2026. Tim Rue | Bloomberg | Getty Images U.S. oil prices jumped 5% Monday after President Donald Trump told CNBC he did not care if talks with Iran come to an end. West Texas Intermediate…
The price of oil rose sharply on Monday, after Iranian government-aligned media reported that the country was cutting off talks with the United States to end the ongoing war. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. U.S. crude oil soared as much as 8.5% to nearly $95…
