French President Emmanuel Macron is calling the G7 back to the table to discuss another release of emergency oil stocks as Europe loses Saudi crude deliveries and diesel prices push deeper into record territory. Macron said Friday that he will convene G7 countries in the coming weeks to coordinate stock levels, exports and production capacity and …
A tanker reported an attempted interception by a skiff about 75 nautical miles east of Aden, Yemen, the United Kingdom Maritime Trade Operations (UKMTO) said Thursday. According to UKMTO, the skiff pursued the vessel and attempted to intercept it. Authorities are investigating the incident. Furthermore, the agency has advised ships operating in the area to …
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The Iran-backed Houthis in Yemen are expanding their control over the west coast along the Red Sea, while the attacks on a key Saudi onshore oil pipeline triggered concerns about additional disruptions to already severely disrupted oil supply from the Middle East. As it has become customary when oil prices rally above $100 a barrel, …
Houthis maintain control of west coast of Yemen, officials say Iran-backed group said to be increasing drone and missile strikes Saudis and Yemenis retaliate with air power Gulf states postpone talks over reopening Stait of Hormuz Yemen’s Iran-aligned Houthis launched a new wave of attacks on Saudi Arabia and were digging into positions on the …
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Saudi Arabia’s East-West pipeline, damaged in a drone strike last week, will remain out of service for weeks, two unnamed officials told Associated Press (AP) on Monday. The exact deadline for reopening the crucial pipeline, one of the most important in the oil-rich nation, is widely seen as crucial for bypassing Iran’s blockade of the Strait …
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Crude prices rose as much as 4.5% on Monday after an attack on Saudi Arabia’s East-West pipeline, which is likely to take weeks to repair. Meanwhile, the situation in the Strait of Hormuz remains tense, with reports of strikes against commercial ships and an impasse on reopening the waterway. The West Texas Intermediate (WTI) for deliveries in October gained …
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A Special Report on the Battle for the World’s Oil Chokepoints Editorial Analysis There are moments in history when a decision made in Washington changes the strategic map almost overnight. For President John F. Kennedy, one of those moments was the Bay of Pigs. And it established a Russian communist strong hold in the Caribbean …
The price of crude oil declined further on Friday following the news that Gulf nations will meet on September 14 to discuss the situation in the Strait of Hormuz, easing concerns over further supply disruptions through the key waterway. Lower oil prices were also pressured by the International Energy Agency’s (IEA) report, which projected in its forecast …
Continue reading “WTI plunges over 5% on Gulf nations’ meeting news”
The United Kingdom government is expected to postpone a decision on the North Sea’s Jackdaw gas field until late autumn, The Telegraph reported on Friday, citing Whitehall sources. Approval had reportedly been anticipated as early as Monday but is now expected after the October 8 Holborn and St Pancras by-election, where Labour faces a challenge from …
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US average diesel price above $6 a gallon for first ever Houthis seize Yemeni port, fighting with Saudi forces escalates Trump says he expects war to end after November midterm elections Iran-aligned Houthis seized control of Yemen’s port city of Mocha on Thursday and advanced down the Red Sea coast to strategic islands, military sources …
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