U.S.-Israeli attacks launched previously during negotiations with Iran have led to a complete loss of trust in the United States, Iran’s president Masoud Pezeshkian said Thursday, according to Mizan News, the news agency of Iran’s powerful judiciary branch. In a phone call with Belarusian president Alexander Lukashenko, a close ally of Russia’s Vladimir Putin, Pezeshkian…
Alexander Manzyuk | Reuters Oil prices turned lower on Thursday shortly after Brent crude notched a four-year high on a report that the U.S. military would brief President Donald Trump on potential action against Iran. Axios reported that the U.S. Central Command was set to present Trump plans for a possible military action against Iran,…
The UAE leaving Opec is seen as a major blow and potential death knell for the oil cartel.
World shares were mixed Monday as the price of Brent Crude oil jumped $2.50 a barrel early in the day as talks on ending the war between the U.S. and Iran remained snagged. Disruptions to shipping through the Strait of Hormuz have pushed oil prices sharply higher since the war began. On Monday, Brent futures…
A view shows a board with the logo of Shell at the company’s fuel station in Saint Petersburg, Russia May 6, 2022. Anton Vaganov | Reuters British oil major Shell on Monday said it agreed a deal to buy Canadian energy company ARC Resources in an output-boosting deal valued at $16.4 billion. The transaction will…
Ukraine has succeeded in depriving Russia of much of the windfall profits it would have made from oil exports during March and April, as the war in the Gulf sent prices soaring to above $100 a barrel, a series of sources suggest. Ukraine intensified a long-range strike campaign against Russian port and energy infrastructure on…
More than 20 years after an unsuccessful attempt to record a commercial oil discovery within the Nigeria-Sao Tome & Principe Joint Development Zone (JDZ), the two countries are calling for willing investors, particularly independent producers in Nigeria, to go into aggressive search for hydrocarbon in the ultra-deep frontier basin. The Nigeria-Sao Tome & Principe Joint…
Crude oil prices jumped Tuesday as doubts grow that the U.S. and Iran will meet for peace talks, stoking fears that the war in the Middle East will resume after the ceasefire ends tomorrow. Brent crude futures, the international benchmark, rose 3% to $98.37 per barrel by 1:55 p.m. ET. U.S. oil futures advanced nearly…
Brent crude sinks by a tenth after Iran says the key waterway is open for commercial ships for the rest of the ceasefire.
The price of crude oil has risen to over $100 per barrel from $90 in the global market, following the collapse of talks between the United States and Iran over the weekend. Crude oil prices had dropped to $90 per barrel from $100 last week, as market watchers anticipated that the talks would culminate in…
