Oil prices rose past $100 a barrel on Wednesday after an overnight escalation in the conflict between the US and Iran. In back and forth attacks, the US hit five Iranian tankers in reprisal strikes after Tehran targeted one of its warships. Brent crude – which is the global benchmark for prices – has not…
15m ago Iran-backed Houthi group reports over 30 strikes across Yemen Yemen’s Iran-backed Houthis reported more than 30 Saudi strikes on several regions on Wednesday, a day after the rebels launched major attacks on their neighbor, injuring dozens of people. There has been no official comment from Saudi Arabia about the Houthi report. Saudi…
A Boeing 747 (top) belonging to the Iranian Mahan Air airline is photographed at Mehrabad Airport in western Tehran, Iran, on October 16, 2024. Morteza Nikoubazl | Nurphoto | Getty Images The Treasury Department on Tuesday sanctioned 27 Iranian airlines and a handful of other entities as part of its ongoing effort to isolate Iran’s…
11m ago School books seen among rubble after deadly strike in Lebanon School books and remnants of furniture were among the rubble left by Israeli strikes that hit a building in the Lebanese town of Kfar Rumman, according to an AFP photographer who saw the debris. The building was destroyed, and 11 people were…
The Justice Department is attempting to revive a centuries-old law to speed up efforts to claim Iranian oil tankers seized during the war with Iran, but maritime law experts say the plan could face hurdles. The top federal prosecutor in southern Texas confirmed last month that his office is involved in the effort to revive…
Oil prices rose Wednesday after the U.S. and Iran traded military strikes, ending weeks of relative calm in the Middle East, as they contest control of the Strait of Hormuz. Brent crude futures, the international benchmark, gained about 1% to close at $95.63 per barrel. U.S. West Texas Intermediate advanced nearly 1% to settle at $91.01 per…
The emergence of world-class refining capacity in Nigeria led by the Dangote Petroleum Refinery represents more than an achievement in energy. It signals the possibilities of an economy increasingly defined by value addition, industrial capability, and productive investment, writes Peter Uzoho For decades, conversations about Africa’s energy future have been dominated by a familiar question:…
US President Donald Trump speaks in the Rose Garden of the White House in Washington, DC, on Aug. 24, 2026. Jim Watson | AFP | Getty Images The U.S. struck a deal with Venezuela to get majority control of more than 65 billion barrels of oil reserves as the war with Iran roils the global…
Oil prices fell more than 3% on Tuesday as the U.S. pivots to economic sanctions rather than military strikes to pressure Iran. Brent futures, the international benchmark, dropped 3.9% to close at $88.58 per barrel. U.S. West Texas Intermediate crude lost 3.1% to settle at $82.36 a barrel. Prices have fallen more than 5% this…
Crude oil prices rose Monday after Iran and the U.S. ruled out an extension of the memorandum of understanding that they signed in June to end the conflict. A senior Iranian official told Reuters, meawhile, that Tehran would shift to offense rather than relying on defense if diplomacy with the U.S. fails. U.S. crude oil…
