Energy, Oil & Gas

Brent crude hits $110 as Middle East tensions fuel supply fears

Brent touched $110 a barrel for the first time since May on Friday on worries that escalating tensions in the Middle East could further tighten supplies, while investors assessed how much diesel Russia could supply ‌to the global market, said a report. At least nine commercial ships have come under attack near Hormuz over this week. ...

Energy, Oil & Gas

EIA raises oil forecast as shipping disruption persists despite Trump claims

The US Energy Information Administration has sharply raised its forecast for oil prices this year, warning that severe restrictions on shipping through the Strait of Hormuz are likely to persist through August despite President Donald Trump's repeated assertions that the strategic waterway is open....

Energy, Oil & Gas

US extends waiver for delivery, sale of Russian oil at sea

The US has authorised operations involving the sale, delivery, or offloading of crude oil and petroleum products of Russian origin loaded onto tankers, according to a general license published on the website of the Office of Foreign Assets Control (OFAC) of the US Treasury Department. ...