Tag: oil
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Houthis and Saudis strike each other in latest escalation
Fighting has continued between Iran-backed rebels and Saudi Arabia, adversely impacting the kingdom’s economy and security. Still, Saudi officials have stopped warning of Houthi attacks in an effort to calm fears.
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Oil falls as Russian diesel supply prospects counter Gulf supply risks
Oct 12 : Oil prices fell on Tuesday and were on track for their first decline in nearly a week, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.Brent crude futures dropped $1.18, or 1.1 per cent, to $105.47 a barrel by 0625 GM
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Japan cabinet backs plan to help oil importers pay for higher transport costs
TOKYO, Oct 13 : Japan’s cabinet approved three bills on Tuesday to strengthen energy supply security, including measures to offset higher costs of importing crude oil through routes that bypass the Strait of Hormuz, Industry Minister Ryosei Akazawa said.The government plans to submit the bills to parliament d
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Oil falls as Russia diesel supply prospects counter Gulf supply risks
Oct 12 : Oil prices fell on Tuesday and were on track for their first decline in nearly a week, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.Brent crude futures fell $1.30, or 1.2 per cent, to $105.35 a barrel by 0329 GMT,
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Oil ticks lower as Russia diesel supply prospects counter Gulf supply risks
Oct 12 : Oil prices edged lower on Tuesday after climbing by nearly $2 a barrel in the previous session, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.Brent crude futures fell 61 cents, or 0.57 per cent, to $106.04 a barrel
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Americas have glut of heavy oil due to freight squeeze; Asia, Europe scramble for barrels
HOUSTON, Oct 12 : Dense heavy crude, which oil refiners around the world favor for its typically low cost, is piling up in the Americas as soaring freight rates have stifled exports and US refiners have been running close to their limits. The glut in North and South America has opened an unusual split in…
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Watch: Who are the Houthis, and why are they so hard to fight?
Security correspondent Frank Gardner explains how the Iran-backed Houthis’ precision strikes and guerrilla tactics have made it difficult for Saudi forces to gain the upper hand.
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Who will the diesel crisis hit first?
For decades, crude oil has been the world’s most closely watched commodity. But in today’s fragmented global economy, the real bottleneck may be diesel.
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Oil falls as Trump comments on Iran talks ease supply concerns
Oct 9 : Oil prices fell on Friday as Middle East supply concerns eased somewhat after US President Donald Trump said the country will not attack Iran before US elections next month amid productive talks to end their war that has disrupted the market. Brent crude futures fell 72 cents, or 0.7 per cent, to…
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Asia races to stockpile oil, speed up renewables in response to Iran war
MANILA, Oct 8 : Asian countries are racing to raise their oil stockpiling capacity, complete a regional power grid and speed up renewables in response to supply risks laid bare by the Iran war.Southeast Asia has been worst hit by the energy impact as 80 per cent of the oil transported through the Strait of…
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