Energy, Oil & Gas

Oil prices jump 4%, with Brent crude surpassing $88 a barrel

Oil prices rose more than 4% at settlement on Friday, hitting their highest levels in over a month amid the ongoing Middle East conflict. Brent Crude futures surged by $3.87 (4.59%) to settle at $88.10 a barrel, while US West Texas Intermediate futures surged by 4.48% to $82.49. ...

Energy, Oil & Gas

Oil settles lower as Hormuz shipping hopes ease supply fears

Oil prices settled lower on Friday after the latest round of US-Iran fighting as traders grew hopeful that shipping would eventually resume in the Strait of Hormuz, but prices finished with sharp weekly gains. Brent crude futures fell by 29 cents to close at $76.01 a barrel. ...

Energy, Oil & Gas

13 killed, 66 injured in Ras Laffan explosion as QatarEnergy assesses damage

At least 13 people have been killed and 66 injured after an explosion at Qatar's largest gas facility in Ras Laffan industrial zone on Sunday night, according to the country's interior ministry. The blast occurred as workers were restarting operations that were previously halted in March....

Energy, Oil & Gas

Opec production drops in April as Hormuz crisis hits exports: Reuters survey

A Reuters survey showed that oil output Opec fell to a more than 20-year low in April, dropping 830,000 barrels per day to 20.04 million bpd as Strait of Hormuz disruptions linked to the US-Israeli conflict with Iran hit exports....

Energy, Oil & Gas

Oil prices ease a bit after US escorts ship out of Hormuz

Oil prices ​eased slightly on Tuesday after jumping about 6% yesterday following increased hostilities in the Strait of Hormuz....

Energy, Oil & Gas

Oil prices rise after ships hit in Hormuz

Oil prices jumped on Wednesday (April 22) with Brent trading above $100 a barrel, erasing earlier ‌losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz....

Energy, Oil & Gas

Hormuz closure: Alternative routes for Mideast oil

Conflict between the US, Israel and Iran has disrupted Strait of Hormuz shipping, exposing limited export alternatives. Existing pipelines offer partial relief, while proposed routes face major political, security and financial challenges. ...

Energy, Oil & Gas

Oil shock to intensify as US Hormuz blockade threatens global markets: opinion

deVere Group CEO Nigel Green warns that closing the Strait of Hormuz would trigger a sharp oil price surge beyond previous spikes and cause intensified market volatility as blockade risks become more plausible....

Energy, Oil & Gas

Strait of Hormuz not US problem, says Trump

US President Donald Trump has lashed out at allies for not getting further involved in the Iran war, telling them to go to the Strait of Hormuz to take their own fuel and securing the strait is "not for us." ...

Energy, Oil & Gas

Oil moves lower after Trump's comment on Hormuz

Oil prices turned lower in Asian trading on Tuesday as markets reacted to reports that Donald Trump had indicated to aides he was prepared to bring the conflict with Iran to an end without insisting on the immediate reopening of the Strait of Hormuz....

Energy, Oil & Gas

Hormuz shutdown could force Iraq, Kuwait to curb oil output within days: JP Morgan

Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels ‌per day (bpd) by day eight of the Middle East conflict, JP Morgan analysts said in a note....

Energy, Oil & Gas

Energy crisis looms as major plants shut down, Hormuz shipping halted

A sharp escalation in the Middle East conflict has triggered major disruptions across the region’s energy industry, with QatarEnergy announcing a halt to LNG production, Saudi Aramco shutting its Ras Tanura refinery and the shipping almost coming to a halt in Strait of Hormuz....