US President Donald Trump travelled to China on Wednesday for a crucial summit with President Xi Jinping. Before leaving Washington, Trump said he did not need Beijing’s help to end the ongoing Iran conflict. The remarks come as tensions around the Strait of Hormuz continue threatening global oil supplies and regional stability. Trump told reporters […]
global oil supply
Pakistan urges swift reopening of Hormuz amid regional tensions
Pakistan has called for the immediate restoration of normal shipping flow through the Strait of Hormuz, emphasizing its critical importance for global energy supply and international trade stability. The Foreign Office stated that uninterrupted movement through the waterway is essential for maintaining economic balance and preventing further disruption in global markets. Officials also stressed that […]
US oil exports reach record highs amid rising global demand
The US Energy Information Administration has reported that the United States recorded its highest ever exports of crude oil and petroleum products in mid-April. The surge highlights growing global demand for American energy supplies. Moreover the data reflects significant shifts in international energy markets as countries search for reliable fuel sources. According to official statistics, […]
Oil prices surge as Strait of Hormuz closes again
Oil prices rebounded sharply on Monday after the Strait of Hormuz was reportedly closed again amid renewed tensions between United States and Iran, reversing earlier losses in global markets. Consequently, Brent crude and West Texas Intermediate both recorded gains of more than six percent in early trading. The sudden shift followed conflicting claims over ceasefire […]
Iran requires ships to coordinate with navy in Hormuz
Iran has announced that ships passing through the strategically important Strait of Hormuz must coordinate with its navy to ensure safe navigation. Officials say the directive aims to maintain maritime security as regional tensions remain high. The statement came from the Iranian foreign ministry, which emphasized that the waterway’s security is closely linked to the […]
Oil prices surge nearly three percent amid US-Iran tensions
Oil prices climbed sharply on Friday, hitting their highest levels in over a week after the United States increased pressure on Iran through fresh sanctions and deployed a naval armada to the region. Brent crude futures rose $1.82, or 2.8%, settling at $65.88 a barrel, while US West Texas Intermediate crude gained $1.71, or 2.9%, […]
OPEC+ quota shake-up sparks Gulf oil investment race
OPEC+ announced a new system to set oil production quotas, aiming to reward investment and stabilize markets. The Maximum Sustainable Capacity (MSC) mechanism will assess members’ production potential for 2027. Gulf producers and other members are expected to increase spending to expand output under the new system. The MSC review runs from January to September […]
Oil prices rise
SINGAPORE – Oil prices climbed on Monday as optimism grew that the U.S. government shutdown could soon end, boosting demand in the world’s top oil consumer and offsetting concerns about rising global supplies. Brent crude futures increased 47 cents, or 0.74%, to $64.10 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 50 cents, […]