Tag Archives: Oil Price

Iraq’s Khor Mor gas field, the country’s largest non-associated gas field, has resumed operations after it shut down following a recent drone attack. Last week, a rocket struck a storage tank at the Khor Mor site, stopping production and triggering widespread power outages. The drone attack was one of the …

A tanker carrying Russian gasoil was hit by multiple explosions off the coast of Senegal, marking the third case in recent days. The Mersin had made several calls at Russian ports this year before it met its fate on Monday. The vessel was later stabilized and placed under tow, with …

Oil prices remained elevated in early Asian trade on Tuesday as investors priced in growing geopolitical risk, especially after a drone strike damaged infrastructure at the Caspian Pipeline Consortium (CPC) Black Sea terminal. At the time of writing, Brent crude was trading at $63.16 a barrel and U.S. West Texas …

India could reduce its imports of Russian crude oil by 50%, a former foreign minister in New Delhi told local media, noting that both India and Russia would nevertheless look for ways to go around U.S. sanctions to keep some oil flowing. “We will be gradually reducing oil purchases from …

Several United States environmental policies may be weakened or removed following a week of announcements by various agencies with plans to introduce major changes. This could mark the largest rollback of environmental protections under any administration. In November, the U.S. Environmental Protection Agency (EPA) proposed to remove federal protections from …

Oil prices rebounded in early Asian trade on Monday following the latest OPEC+ meeting, as traders responded to the producer group’s decision to hold output steady through the first quarter of 2026. At the time of writing, West Texas Intermediate crude stood at $59.32, up 1.32%, while Brent crude had …

Germany will plead with the EU to allow plug-in hybrids and highly efficient conventional cars to be sold in the bloc even after the effective ban on gasoline and diesel passenger cars in 2035, Chancellor Friedrich Merz said on Friday as the government looks to prop up its massive but …

Saudi Arabia is expected to slash the prices for its crude bound for Asia in January to the lowest premium to benchmarks in five years, as the world’s largest crude exporter looks to preserve market share amid ample supply and falling spot Middle East benchmarks. Saudi oil giant Aramco will …

Exports of liquefied natural gas from the United States are on track to book a 40% annual increase this month, hitting 10.7 million tons, projections from Kpler have shown, as cited by Bloomberg. An ample supply of liquefied gas has already pushed natural gas prices down in Europe, with prices …

UK automotive production plunged in October, with combined car and commercial vehicle output falling 30.9% year-on-year to 62,116 units, according to new data released by the Society of Motor Manufacturers and Traders (SMMT). The sharp contraction reflects both the ongoing fallout from a major cyber incident that disrupted operations at …