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Beyond Oil: Disruption In Hormuz Spells Trouble For Global Markets
Machinery at Yara International ASA's 24-megawatt plant for renewable hydrogen production at the company's Heroya industrial facility in Porsgrunn, Norway, on Monday, June 10, 2024. Europe's largest fertilizer maker, Yara, opened a renewable…
US reinstates sanctions on Iranian oil sales after LNG, oil tanker attacks
The United States on Tuesday re-imposed sanctions on Iranian oil, as a U.S. official warned that Iran's attacks on vessels in the Strait of Hormuz were 'wholly unacceptable' and would be met with consequences. SCROLL TO CONTINUE WITH CONTENT Oil…
Energy Major Shell Cashes In On Volatile Oil Markets
This article is for subscribers only. Morning, this is Chloé Meley and Moira Warburton from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories. Volatile energy markets have been painful for most…
Oil Rises Amid Renewed Supply-Disruption Fears
2332 GMT — Oil rises in early Asian trade amid renewed supply-disruption fears. The U.S. struck sites along Iran 's coast and blocked its ability to sell oil legally on Tuesday in response to Tehran's recent attacks on ships near the Strait…
Oil Prices Up As U.S. Cancels Iran's Sales License, Launches Strikes
Tugboats push the Djibouti-flagged crude oil tanker Glory Forever, carrying oil imported from the UAE, to the pier in Qingdao, Shandong province, China. (Photo: Yu Fangping) Future Publishing via Getty Images Oil prices rose on Tuesday following…
U.S. Revokes Waiver Allowing Sale of Iranian Oil
WASHINGTON—The Trump administration on Tuesday revoked a license allowing Iran to sell oil on the open market, the main economic benefit for Tehran of an interim peace deal that put an end to the war between Washington and Tehran and which…
Oil Jumps After U.S. Bars Iranian Oil Sales
Oil prices jumped in late trading Tuesday after the Treasury Department revoked a waiver that allowed Iran to sell oil, signaling a new test for stop-and-start peace talks between the countries. The department said the move, which comes after a new…
Watch Trump's Been Successful in Talking Down The 'Oil Markets' Says Kloza
Trump's Been Successful in Talking Down The 'Oil Markets' Says Kloza Oil nudged higher following attacks on shipping in and around the Strait of Hormuz, pointing to continued risks to vessels in the critical waterway. Tom Kloza, Chief Energy…
Oil Surges as US Strikes Targets in Iran Following Ship Attacks
Oil jumped — after gaining almost 3% on Tuesday — as the US launched a wave of strikes against Iran in retaliation for a spate of attacks on shipping in the Strait of Hormuz. West Texas Intermediate surged above $72 a barrel, while…
As prices fall, crack spread signals a split in oil markets
The benchmark price used for most fuel surcharges has fallen for the 12th time in 13 weeks in an oil market that remains bifurcated to an almost historical level. The Department of Energy/Energy Information Administration average weekly retail…
A timeline of how the oil market weathered a historic supply shock and fell to pre-war levels
As the first attacks of the Iran war began and the Strait of Hormuz was shuttered, markets wasted little time pricing in the expected devastation in oil markets. Oil prices skyrocketed overnight. With the supply disruption characterized as one of…
Nigeria's Renaissance Makes Oil Discovery in Former Shell Field
Renaissance Africa Energy said it made a “significant” oil discovery in a Nigerian block once held by a unit of Shell Plc, demonstrating the growing capability of local companies in Africa's biggest producer. The JK-004 exploration…
Oil Jumps on Iran Attack, Asian Stocks Set to Drop: Markets Wrap
Oil surged as the US military said it was carrying out new strikes against Iran. Stocks in Asia were poised to drop for a second day as a selloff in chipmakers rippled across markets. Equity-index futures for Japan, South Korea and Australia…
Treasury revokes waiver for Iranian oil sales - TT
The Treasury Department revoked an Iranian oil sale waiver effective July 7 after tanker attacks in the Strait of Hormuz. Oil prices surged as the move threatened a 60-day peace deal that had helped ease supply fears and market volatility.
Oil Wildcatters Seek a Piece of Venezuela Despite Quakes
Greig Gilbert fled a sunbaked oil town in eastern Venezuela as a teenager 22 years ago, after a general strike and attempted coup plunged the country's energy industry into turmoil. He vowed that one day, he would return. Oil is in his blood. His…
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