Tag: oil
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Ex-Nigeria oil minister cleared in UK bribery trial
Diezani Alison-Madueke had been accused of receiving bribes from oil tycoons but was found not guilty by a jury at Southwark Crown Court.
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Iran sends loaded oil tankers past US blockade line
Three Iranian tankers loaded with crude oil have passed the US blockade line in the Gulf of Oman, ship-tracking data shows.
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IEA sees gradual Hormuz recovery tipping into significant 2027 oil surplus
LONDON: The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday (Jun 17).The US and Iran reached an agreement to end the three-month-old war, which
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Iranian oil tankers pass US blockade ahead of peace deal signing
The naval blockade began on 13 April and targeted all vessels entering or departing Iranian ports and coastal areas.
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The bikers battling extreme heat and armed conflict to smuggle Iranian fuel to Pakistan
It’s so hot the fuel can catch fire – the bikers tell the BBC they must live with the risk of injury and death.
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Sigh of relief in Africa as the Strait of Hormuz ‘reopens’
A potential US-Iran agreement could lower energy-, fertilizer- and food prices in Africa if the Strait of Hormuz fully reopens. Oil exporters such as Nigeria and Angola might have to cope with less revenue, experts say.
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US-Iran deal may not bring quick relief for auto shops
TOKYO/DETROIT, June 16 : Tokyo auto shops and Detroit car dealerships have been running short of motor oil, paint and other products for months since the Middle East conflict snarled global supply chains.Now, while a potential deal between the U.S. and Iran may bring an end to the fighting, industry experts a
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Oil rebounds on concerns about US-Iran peace deal, restoration of supply
June 16 : Oil prices rebounded on Tuesday on concerns about the lack of details in a preliminary agreement ending the war between the U.S. and Iran and the realization the resumption of supply through the key Strait of Hormuz may take longer than thought.Brent crude futures gained 26 cents, or 0.3 per cent, t
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Oil falls 5% to three-month low as US, Iran reach peace deal to reopen Strait of Hormuz
HOUSTON, June 15 : Oil prices slumped 5 per cent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the Strait of Hormuz. Brent crude futures fell $4.38, or 5.02 per cent, to $82.95 a barrel by 10:54 a.m.…
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US energy shares slump as Iran deal lowers Hormuz supply disruption risk
June 15 : U.S. energy shares fell on Monday as crude prices dropped after Washington and Tehran agreed terms to end their months-long conflict and reopen the Strait of Hormuz, a vital oil transit chokepoint.The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, said the prime m
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