United Arab Emirates to quit oil cartel Opec
The UAE leaving Opec is seen as a major blow and potential death knell for the oil cartel.
Tag: Oil
Read More
Oil prices rise as U.S. and Iran appear locked in a costly stalemate
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…
Oil giant Shell agrees to buy Canada’s ARC Resources for $16.4 billion
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…
Russian oil exports slump as Ukraine hammers ports and refineries | Russia-Ukraine war News
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…
Africa: Nigeria, Sao Tome Reignite Oil Exploration Drive On Abandoned Coastal Acreage
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…
Oil nears $100 again as doubts grow about U.S.-Iran peace talks
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…
Oil prices plunge as Iran says Strait 'open'
Brent crude sinks by a tenth after Iran says the key waterway is open for commercial ships for the rest of the ceasefire.
Africa: US-Iran Tensions – Crude Oil Rebounds Above $100 Per Barrel
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…
Asia markets open higher as hopes for a U.S.-Iran deal rise and oil prices drop
Asia-Pacific markets track overnight gains in U.S. stocks on lower oil prices amid hopes of a Iran-U.S. deal
U.S. oil prices fall 5% on hope Iran peace talks will continue
An aerial view shows the Chevron EL Segundo refinery, one of the largest petroleum processing facilities in California, on April 8, 2026 as seen from above Manhattan Beach, California. Mario Tama | Getty Images Oil prices fell Tuesday, after Vice President JD Vance indicated that U.S. and Iran could meet for another round of talks…