Oil futures prices experienced an increase of 2.5% on Tuesday following the entry of the Iran Alborz warship into the Red Sea waters on Monday. The action, believed to be a show of support for the Houthi rebels, has escalated tensions in the Middle East. Worries about the supply of the commodity seem to have …
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ALINA SELYUKH, HOST: Israeli military officials say they are stepping up their offensive in Gaza as tens of thousands of displaced Palestinians continue to flee into the southernmost corner of the enclave. United Nations officials are warning about the humanitarian situation, especially in southern Gaza, where overcrowding, food shortages and spreading disease have reached critical …
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Iran’s Alborz warship has reportedly entered the Red Sea, emerging at a time of heightened tensions in the key shipping route amid ongoing attacks on vessels in response to the Israel-Hamas war. Iran’s semi-official Tasnim news agency reported Monday that the vessel had entered the Red Sea through the Bab al-Mandab Strait, though it was …
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Crude oil production in the United States fell in the month of October, according to new data released by the Energy Information Administration on Friday. According to the latest data, average U.S. crude oil production fell from 13.252 million barrels per day in September to 13.248 million bpd in October—the first monthly decline in average …
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Alleged Israeli airstrikes on the Damascus International Airport, conducted on Thursday, killed 11 members of Iran’s Islamic Revolutionary Guards Corps (IRGC), Al Arabiya reported on Friday, citing anonymous sources.According to the report, IRGC members were waiting for a high-ranking delegation at the airport when the attack occurred. Earlier this week, it was reported that an …
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Global gasoline consumption hit a record 26.9 million barrels per day (bpd) this year, exceeding the 2019 peak and defying estimates that the last pre-pandemic year was the time when gasoline demand worldwide would peak. The data, reported by Bloomberg Opinion columnist Javier Blas, shows the latest figures from the International Energy Agency (IEA). The same …
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Iran, has been looking to catalyse an expansion of the direct conflict between Israel and Hamas into a wider war between Islam and the Jewish state of Israel. EU source: the Iranian-backed Houthis are not acting against vessels in and around the Red Sea without Beijing’s tacit approval. If China did take its foot off …
Russian Deputy Prime Minister Alexander Novak said on Wednesday that the Brent oil prices in 2024 could be in the range of $80 and $85 per barrel. In an interview with Russia-24 TV channel, Novak noted that Russian oil and gas revenue will reach approximately 9 trillion rubles by the end of 2023. He added …
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https://youtu.be/N9tozCflir8 United States Central Command (CENTCOM) revealed on Tuesday that its assets shot down 12 one-way attack drones, three anti-ship ballistic missiles, and two land attack cruise missiles during today’s operations in the Red Sea. The command said that the USS Laboon warship navigating those waters as part of the international mission to secure trade …
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The prices of oil futures declined on Thursday after Angola announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC). The move seemingly stirred investors’ hopes there would be more supply as the African country previously voiced opposition to the group’s recent decisions, including the one on production cuts. West Texas Intermediate …