The International Court of Justice ruled on Friday that Israel must “take all measures within its power to prevent the commission of all acts within the scope of Article two of the Convention on the Prevention and Punishment of the Crime of Genocide” in the Gaza Strip. Israel is also ordered to take measures to …
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An uncertain supply picture has oil markets on edge, with disruptions and geopolitical risks being counterbalanced by rising production in Norway and Libya. Economic uncertainty is adding downward pressure to oil prices. The continued rerouting of ships from Asia to Europe has been greatly reducing the availability of spot tankers that could be chartered, lifting …
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Saudi Arabia’s crude oil exports inched up in November from October to reach a five-month high, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Crude oil exports from the world’s top crude exporter rose by 39,000 barrels per day (bpd) to around 6.34 million in November, up from October’s 6.3 million bpd …
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Houthi spokesperson Yahya Sarae stated on Monday that the militia targeted the United States military cargo ship Ocean Jazz in the Gulf of Aden with naval missiles as a response to the US and UK assaults on Yemeni Armed Forces installations. “The Yemeni Armed Forces continue to take all defensive and offensive procedures within the …
West Texas Intermediate (WTI) climbed over 2.3% on Wednesday as rising tensions in two conflict zones outweighed supply and demand fundamentals that should have put downward pressure on crude prices. At 12:37 p.m. ET on Wednesday, WTI was up 2.59%, trading at $75.31, for a $1.90 gain on the day, while Brent crude was up 1.90%, trading …
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Former President and front-runner in the Republican leadership race, Donald Trump, has promised to ban the creation of a central bank digital currency (CBDC) during a campaign stop in New Hampshire. “As your president, I will never allow the creation of a central bank digital currency,” Trump said on stage, joined by crypto-friendly former candidate …
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Crude oil inventories in the United States rose this week by 483,000 barrels for the week ending January 12, according to The American Petroleum Institute (API), after analysts predicted a draw of 2.4 million barrels. The API reported a 5.215-million-barrel draw in crude inventories in the week prior. On Tuesday, the Department of Energy (DoE) …
The Organization of the Petroleum Exporting Countries (OPEC) decided to leave the global oil demand forecast for 2024 unchanged at 2.2 million barrels per day (bpd), the group’s January report showed on Wednesday. The oil demand is expected to see growth of 1.8 million bpd next year.Positive economic, manufacturing, and services sector activity is expected …
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Brent Crude oil prices are expected to average $74 per barrel this year, Citi said in a note, revising down its previous forecast by $1 a barrel, due to expectations of excess supply. The researchers at the bank also slashed their Brent forecast for 2025 by $10 per barrel, and now see the international benchmark …
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The Houthis vowed to continue to attack ships in the Red Sea. The United States and the United Kingdom, with support from Australia, the Netherlands, Canada, and Bahrain, carried out airstrikes on the Houthis on January 11. “The American and British enemy bears full responsibility for its criminal aggression against our Yemeni people, and it …