WASHINGTON — Israel launched fresh strikes on Tehran on Wednesday, escalating tensions with Iran even as diplomatic efforts to end the conflict gathered momentum. The Israeli Defense Forces said the strikes targeted key infrastructure in the Iranian capital, while Iranian media reported damage in residential areas and ongoing rescue operations. The latest escalation comes amid […]
global energy
Oil prices rebound as Iran denies US talks
Global oil prices edged higher in early trading on Tuesday as supply concerns resurfaced after Iran denied holding talks with the United States (US), contradicting claims by Donald Trump that negotiations were underway to ease tensions in the Gulf. Read More: Oil prices tumble as Trump delays Iran strikes Brent crude futures rose $1.06, or 1.1%, […]
Trump issues 48-hour ultimatum to Iran over Strait of Hormuz
Donald Trump issued a 48-hour ultimatum to Iran on Saturday, demanding the reopening of the Strait of Hormuz or threatening strikes on Iranian power plants. The waterway, crucial for global oil shipments, has effectively been closed by Iran through mine-laying, attacks on vessels, and threats to ships, raising fears of further escalation in the ongoing […]
Oil prices could hit $180 amid Iran conflict, Saudi warns
Saudi officials have cautioned that oil prices could surge to $180 per barrel by late April if the Iran war continues disrupting critical Middle East energy supplies and global markets. The warning comes as attacks on oil and gas infrastructure across the Gulf, including Saudi facilities at Yanbu and Qatar’s Ras Laffan, have already […]
Global energy, food security — another casualty of war on Iran
Iranian aerial attacks have caused extensive damage to the world’s largest gas plant in Qatar, targeted a refinery in Saudi Arabia, forced the UAE to shut gas facilities and set off fires at two Kuwaiti refineries. Tehran’s retaliation against Israeli attacks on its own gas facilities marks a further escalation of the nearly three-week war. […]
Oil prices fall as some ships resume Strait of Hormuz transit
Global oil prices dropped sharply on Monday, easing from recent highs as some vessels resumed through the strategically vital Strait of Hormuz amid ongoing geopolitical tensions. Read More: Oil rises further above $100, most Asian stocks fall as Iran war rages Brent crude futures fell by $2.93, or 2.8%, to settle at $100.21 per barrel, while […]
Trump says Venezuela will supply up to 50m barrels of oil to US
US President Donald Trump said on Tuesday that Venezuela interim government has agreed to deliver between 30 and 50 million barrels of oil to the United States. He said the proceeds from the sale of the oil would be overseen by him as president. In a social media post, Trump said the oil would be […]
Trump warns US could raise tariffs on India over Russian oil imports
US President Donald Trump on Sunday warned that the United States could impose higher tariffs on India if the country does not curb its purchases of Russian oil. Speaking to reporters aboard Air Force One, Trump said tariffs could be increased “very quickly” if India fails to meet Washington’s demands. Read More: India seeks weekly data […]
Oil price rise on US sanctions, Venezuela tanker risks
BEIJING: Oil prices climbed on Thursday amid reports that the United States may impose new sanctions on Russian oil if Moscow does not agree to a peace deal with Ukraine. Market participants also weighed the potential supply risks from a blockade of Venezuelan oil tankers. Read More: India defies sanctions with strong Russian oil imports US West […]