Tag Archives: Middle East

Oil prices experienced a decline towards the end of the week following the release of two American detainees by Hamas in Gaza, raising hopes that the Israeli-Palestinian crisis might not escalate further, averting potential disruptions in oil supplies across the Middle East. Brent crude futures dipped by 22 cents, or …

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude futures advanced $1.69, or 1.9 per cent, to $91.59 a barrel at 0347 GMT. West …

Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26c, or 0.3%, to $87.91 a barrel by 3.12am GMT. US West Texas Intermediate (WTI) crude rose 17c, or 0.2%, to $86.14 a barrel. Brent and WTI …

Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, …

The Middle East region is expressing increasing interest in developing its nuclear energy industry as the UAE and Saudi Arabia both announce new nuclear power projects. Several governments around the globe are showing renewed interest in low-carbon nuclear power as a means of shifting their reliance away from fossil fuels …

Asian refiners have booked near-record volumes of U.S. crude to be shipped in August, replacing Middle Eastern oil, as competitive prices and ample supplies attracted heavy buying, according to trade sources. The jump in U.S. imports comes on the back of strong Chinese demand for Brazilian oil in the third …

At a time when global recession concerns have depressed global oil prices to pre-Ukraine war levels, prices of Middle Eastern oil have skyrocketed on soaring demand from Asian refiners in China to Japan as the market takes stock of heavy trading by the industry’s biggest names this month. According to …

Signs are emerging that the still continuing IPO boom in the Gulf could be reaching its zenith. Lower oil and gas revenues as a result of falling Brent crude prices, headwinds for the global economy, high inflation in the U.S. and Eurozone, and ongoing central bank interest rates hikes are …

The US Navy has deployed a guided-missile submarine capable of carrying up to 154 Tomahawk missiles to the Middle East, a spokesman said. Cmdr. Timothy Hawkins, a spokesman for the 5th Fleet based in the Gulf nation of Bahrain, said on Saturday the nuclear-powered submarine, based out of Kings Bay, …

In a fairy-tale turnaround that few could have foretold, oil prices have soared to multi-year highs, largely aided by strong post-Covid demand, surprise OPEC+ cuts and the disruption caused by Russia’s war in Ukraine. The petrodollar windfall has really given a boost to previously battered Gulf economies, allowing some Gulf …