Tag Archives: Middle East

Saudi Arabia left the official selling price of its crude oil selling in Asia in November unchanged from the October prices as OPEC+ continues to lift production amid a market concerned about an imminent oversupply. Saudi Aramco, the Kingdom’s oil giant and the world’s single largest crude exporter, set the …

Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from market expectations that interest rate cuts could happen soon in the United States, the world’s largest economy. Brent crude futures rose $1.2, or 1.8 per cent, to $68.34 …

LNG shipping costs have surged to the highest in eight months as shipowners assess Middle East risks and hold off chartering vessels, reducing available ships, while price signals in Asia are favoring cargoes going to the Pacific market. Both the Atlantic and Pacific freight rates jumped on Monday to their …

Refiners in Asia have asked for additional oil supply under term contracts this summer as the conflict between Israel and Iran is hiking premiums for spot supply, Reuters reported on Friday, citing sources in the oil trade industry. As hostilities escalate, spot premiums for oil supply from the Middle East …

With strong government backing and billions of dollars at their disposal, Middle Eastern oil giants are aggressively expanding into the global liquefied natural gas (LNG) market, aiming to nearly double their LNG capacity within the next decade. Companies like Saudi Aramco, Abu Dhabi National Oil Co. (ADNOC) and QatarEnergy are …

Oil steadied near its highest level in almost three months, after some Middle Eastern oil grades strengthened on robust demand from Asian refiners. Brent traded near $76 a barrel after earlier Monday hitting its highest since Oct. 14. West Texas Intermediate was around $74. Traders will be looking out for …

Private Chinese refiners, who buy most of Iran’s crude, have recently scoured West Africa and the Middle East for supply unsold in previous trade cycles, as flows of Iranian crude have dropped amid higher prices and preparation for the incoming Trump Administration. China’s independent refiners, the so-called teapots, are key …

The oil market is on edge after tensions between Israel and Iran flared up this week. Fears of an all-out war and an actual disruption to oil supply from the Middle East intensified, pushing oil prices higher. As the world awaits the Israeli response to the Iranian missile attack on …

Crude oil prices were set to end the week with substantial gains pushed higher by the latest events in the Middle East. Both Brent crude and West Texas Intermediate were about 8% higher on Friday morning in Asian trade than they were at the start of the week. The jump …

Global stocks dipped as European and Asian share indexes broadly retreated on Thursday, while oil prices rose further as markets weighed the risk of a widening Middle East conflict. Euro zone stocks were last down 0.8 per cent, as investors digested weak business activity survey data from the bloc, while …