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,…
President Trump said Wednesday that “massive” oil, gas and mineral exploration is preparing to begin in Greenland. In a statement posted on his Truth Social platform, Mr. Trump said “Massive Oil, Gas, and Mineral Exploration is getting ready to begin in our new and beautiful Greenland,” but did not give more details. The president added…
Bala Wunti used the 2026 Concordia Annual Summit in New York to warn that Africa’s new mineral wealth, lithium, cobalt and rare earth elements, could easily repeat the mistakes of its crude oil era. Why should anybody listen? One, because Wunti spent three decades inside Nigeria’s upstream oil sector, serving as Chief Upstream Investment Officer…
The price of oil jumped sharply Thursday, as President Donald Trump weighs whether to resume large-scale U.S. military operations against Iran in the coming weeks. Brent crude oil rose more than 5% to more than $105 per barrel in early trading, while U.S. crude oil rose almost 5% to nearly $93 per barrel. Benchmark diesel…
Numerous merchant ships belonging to Iran and other countries remain at anchor in the Strait of Hormuz in Bandar Abbas, Iran, on Sept. 8, 2026. Fatemeh Bahrami | Anadolu | Getty Images Oil rose Wednesday as attacks by Yemen’s Iran-backed Houthis on Saudi Arabia raised concerns over crude flows from the Middle East even as…
Energy Minister Prince Abdulaziz bin Salman says capacity restored after major attack last month. Published On 6 Oct 20266 Oct 2026 Saudi Arabia’s energy minister has said that oil pumped through the key East-West Pipeline reached a capacity of 5.8 million barrels a day (bpd). Prince Abdulaziz bin Salman made the comments during a panel…
Middle East oil exports, excluding those from Iran, surpassed their pre-war levels last week, despite attacks on ships in the Strait of Hormuz, according to data from the maritime tracking firm Kpler. For the first time since the U.S. and Israel launched their offensive against Iran at the end of February, the weekly average of…
Oil prices rose on Thursday, reversing earlier losses, following a report that Chinese refiners have suspended October fuel exports, further squeezing war-constrained energy markets. International benchmark Brent crude with December expiry was last seen trading 2.2% higher at $100.15 per barrel, having earlier traded 1% lower, while U.S. West Texas Intermediate futures with November expiry…
Numerous merchant ships belonging to Iran and other countries remain at anchor in the Strait of Hormuz in Bandar Abbas, Iran, on Sept. 8, 2026. Fatemeh Bahrami | Anadolu | Getty Images Crude oil prices rose Thursday but were off session highs on a report that U.S. and Iranian negotiators in New York are discussing…
