Oil prices hit their highest in four months after two attacks on Saudi Arabian facilities in the weekend knocked out more than 5% of global supply.
At the start of trading, Brent crude jumped 19% to $71.95 a barrel, while the other major benchmark, West Texas Intermediate, rose 15% to $63.34.
Prices eased back slightly after US President Donald Trump authorised the release of US reserves.
A handout photo made available by NASA Worldview shows a satellite image of smoke from fires at two major oil installations in eastern Saudi Arabia, 14 September 2019 (issued 15 September 2019), following alleged drone attacks claimed by Yemen’s Houthi rebels. According to Saudi state-owned oil company Aramco, two of its oil facilities in Saudi Arabia, Khurais and Abqaiq, were set on fire on 14 September after allegedly having been targeted by drone attacks. In picture is seen Bahrain (island, top) and Qatar (peninsula, R). EPA-EFE/NASA WORLDVIEW HANDOUT It could take weeks before the Saudi facilities are fully back on line. Houthi rebels in Yemen took the responsibility for the attack. The drone attacks on plants in the heartland of Saudi Arabia’s oil industry included hitting the world’s biggest petroleum-processing facility.
State oil giant Saudi Aramco said the attack cut output by 5.7 million barrels per day.
Via BBC
Oil prices jumped on Thursday, with benchmark Brent rising to its highest in more than a week to more than $115 a barrel, after Iran attacked energy facilities across the Middle East f...
President Donald Trump's administration is considering deploying thousands of U.S. troops to reinforce its operation in the Middle East, as the U.S. military prepares for possible next s...
President would have final say in government's chief justice anti-deadlock plans
The President would have the final say on appointing a chief justice in cases of deadlock under the go...
Morning Briefing
Crime Reports Drop in 2025Malta saw a significant drop in crime in 2025, with 15,594 offences reported, down 6.4% from 16,662 in 2024, according to a report presented...
European Commission President Ursula von der Leyen told the European Parliament today that in just ten days of conflict in the Middle East, fossil fuel imports have cost the EU an additi...
The Socialists and Democrats (S&D) Group in the European Parliament has demanded urgent clarification from the European Commission over its participation in the first meeting of the ...
Oil prices jumped on Thursday, with benchmark Brent rising to its highest in more than a week to more than $115 a barrel, after Iran attacked energy facilities across the Middle East f...
Scandinavian airline SAS has said that it will cancel at least a thousand flights in April after the conflict in the Middle East sent fuel prices surging.
"The price of jet fuel has d...
Vivian continues to widen its portfolio with the announcement of new representation agreements with worldwide R&D pharmaceutical companies. “These latest agreements crown a very succ...
Two local analysts have cautioned that any attempt by EU Member States to block or restrict the passporting of crypto-asset service providers (CASPs) authorised under the Markets in...
Malta’s financial services sector is projected to contribute between €4.8 billion and €5.3 billion to the country’s GDP by 2035. However, the sector is also facing the critical challenge...
Public transport users are being advised of temporary bus route diversions in the St Julian’s area on St Patrick’s Day, on Tuesday 17th March, due to road closures linked to the celebrat...
Israeli Defense Minister Israel Katz has said that top Iranian security official Ali Larijani has been killed in a strike overnight.
Iran has not confirmed Larijani's death. ...
Iran launched fresh attacks on the United Arab Emirates on Tuesday, the kind of retaliatory strikes on U.S. Gulf allies that President Donald Trump said had not been expected, but which...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
María Corina Machado is a prominent figure in Venezuela’s opposition. She has reported that one of her closest associates, Juan Pablo Guanipa, was abducted. This occurred mere hours afte...
Russia is expending air defense missiles faster than it can produce them, forcing the Kremlin to prioritize which strategic targets to defend, according to Gert Kaju, head of the Defense...
Ukraine will complete the technical work needed to open negotiations on all topics for its European Union accession process within days, President Volodymyr Zelenskiy said.
Zelenski...
