Indian refineries tumble as crude prices surge on the escalating Iran war
The shares of Indian'refiners' fell on Monday as the escalating 'U.S.-Israeli conflict with Iran pushed Brent crude to $120 per barrel, a price that is a near four-year-high. This threatens their short-term earnings. Indian Oil, a state-run company, fell 6.6%.
Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, leader of an opposition party in Japan, said that Japan should run all its nuclear?power stations to offset the impact the Iran war has had on electricity bills. Japan imports around 11% of liquefied gas and 95% of oil from the Middle East.
Head of opposition party says Japan should use nuclear power to counter Iran crisis
Yuichiro Tamaki, the leader of an opposition party in Japan, stated on Monday that Japan should use all its nuclear 'power plants to offset the impact of a war with Iran on?electricity?bills. Around 95% of Japan's oil and 11% of its gas imports come from the Middle East…
US-Israeli War on Iran Causes Major Oil, Gas Disruptions
Kuwait announced?cuts at the weekend due to the U.S. and Israel war against Iran. Analysts predict the United Arab Emirates (UAE) and Saudi Arabia, which are running out of oil storage, will have to reduce their output as well.
US-Israeli War on Iran Causes Major Oil, Gas Disruptions
The U.S. and Israeli war against Iran has caused oil and gas exports to be disrupted from the Middle East. Production was stopped from Qatar all the way up to Iraq. Kuwait announced cuts this weekend. Analysts predict the United Arab Emirates (UAE) and Saudi Arabia…
Iran War threatens to hit global energy markets for a long time
Even if the U.S. and Israel's war against Iran ends soon, consumers and businesses around the world could face weeks or even months of higher fuel costs as suppliers deal with damaged facilities and logistics and increased shipping risks.
Document shows EU is looking to reduce energy bills for industry
A document obtained by revealed that the 'European Union' is looking at energy?taxes and network charges, as well as?carbon _costs, to see if they can be used in short-term solutions for industries affected by high energy costs.
The Iran War threatens to have a long-lasting impact on global energy markets
Even if the conflict with Iran ends soon, consumers and businesses could face weeks or even months of higher fuel prices. This is because suppliers are dealing with damaged facilities, disrupted logistic, and increased risks in shipping.
India increases cooking gas prices after Iran war affects supply
Indian 'companies' have increased the price of liquefied petrol gas, mainly used as a cooking fuel for the first time in about a?year, due to the global price surge caused by the U.S./Israel war against Iran, which has disrupted Middle East supplies.
Iran conflict increases U.S. Gulf Oil prices to their highest level since 2020
The price of U.S. Gulf Coast Heavy Grades continued to rise?on Friday, as the Iran Conflict prompted several Middle -Eastern producers to reduce production. This prompted?buyers and?sellers to grab?U.S. barrels. Brokers said that the price of Mars sour crude…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in four-weeks.
Energy services firm Baker Hughes reported on Friday that U.S. energy firms added oil and gas rigs this week for the first time since four weeks. Baker Hughes reported that despite this week's increase in rigs the total count is still 41 rigs or 7% lower than this time last year.
Oil derivatives indicate traders view Middle East shocks as short-lived
Oil futures and options are signaling that the Middle East conflict could be short-lived as traders rush to?structures which profit from a decline in prices following the initial spike. The options and futures market?often provides…
Russian Urals Prices Tops Brent in Indian Market for the First Time
Russian flagship Urals oil is selling at a premium to the Brent international benchmark at delivery in Indian ports for the first time ever, fuelled by rising demand due to the Iran war, traders said on Friday.The U.S.-Israeli war against Iran…
QatarEnergy leases 10 LNG tankers amid a production halt and soaring shipping costs, according to sources
QatarEnergy offers 10 liquefied 'natural gas' tankers to lease, according to two industry sources. This comes after the 'world’s second largest?LNG - exporter announced a halt in production at its 77 mtpa facility, and shipping rates soared as the U.S.
BP wants at least $3.7 Billion from Venture Global arbitration, a filing states
Venture Global's yearly report shows that BP wants at least $3.7billion from its arbitration victory against?Venture Global, in a case involving liquefied?gas (LNG). According to the report released this week, BP is seeking a range of'remedies'…
Bangladesh restricts fuel purchases due to Middle East conflict
Bangladesh imposed daily fuel sales limits in response to a 'panic buying' and a'stockpiling of fuels, which raised concerns over supply as the Middle East war roiled the global energy markets. These'measures' follow U.S., israeli…
Indian refiners seeking legal opinion to purchase sanctioned Russian oil through US waiver
Two government sources confirmed that Indian refiners were seeking legal advice on how to purchase Russian oil sanctioned by Washington after New Delhi was granted a waiver for buying crude at sea in order to reduce pressure on the global markets. On Thursday, the U.S.
VEGOILS - Palm logs weekly increase, reaches four-month peak
The market for Malaysian palm oils futures rose to its highest level in four months on Friday, and recorded a weekly gain as the market was supported by a stronger Dalian edible oil and a weaker Ringgit. The benchmark contract…
The price of gas in Europe is more volatile due to the growing competition from LNG
Dutch and British wholesale prices of gas have slowed the huge gains they made this week, but remain volatile due to increased competition worldwide among buyers for replacements of lost Qatari LNG cargoes. Data from the Intercontinental…
Qatar's energy minister warns that war will force Gulf countries to stop exporting energy within weeks.
In an interview published by the Financial Times on Friday, Qatar's Energy Minister Saad al-Kaabi said that the country expects all Gulf energy producers to stop exports in a few weeks and drive oil prices up to $150 per barrel.