Oil

Bahrain’s state oil company declares force majeure on its shipments after Iran attack

Bahrain’s state oil company declared force majeure on Monday for its shipments after an Iranian attack set its refinery ablaze. The state-run Bahrain News Agency carried the announcement of the…

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Oil soars 25%, gold drops as Iran war jolts global commodity markets

Oil prices surged around 25% on Monday to their highest since mid-2022, with Brent on track ‌for a record one-day gain, while gold fell 2% as an escalating Iran war…

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Oil prices rise 1% as Iran crisis disrupts Middle East supply

Oil prices rose 1% on Wednesday as the U.S.-Israeli war on Iran disrupted Middle East supplies, but the pace of gains slowed from ‌past sessions after President Donald Trump raised…

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Shipping Paralysed in Strait of Hormuz as Insurance Costs and Energy Prices Surge

Global shipping and energy markets are facing mounting disruption as vessels remain stranded near the Strait of Hormuz, a chokepoint that carries around one in five barrels of the world’s…

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Oil rises as expanding US-Israel war with Iran heightens supply risks

Brent rose more than $3 on Tuesday for a third day of gains as the widening U.S.-Israeli conflict with Iran and threats to shipping via the ‌Strait of Hormuz heightened…

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Oil surges 8% as Iran conflict disrupts Middle Eastern flows

Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian…

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EU policymakers expect no immediate oil security impact from Iran conflict

The European Commission does not expect the widening conflict in the Middle East to have any immediate impact on the European Union's security of oil supply, it said in an…

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Middle East oil exports push tanker costs to 6-year-high amid threat of US-Iran war

The cost of shipping oil has surged to the highest in six years, fuelled by a wave of crude exports from the Middle East as traders accelerate charters ahead of…

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Precious metals, oil slide as global tensions ease; copper down

Prices of commodities, from silver and gold to crude oil and copper, dived on Thursday, as global tensions eased after a telephone call between the leaders of China and the…

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Libya plans to boost gas exports to Europe by 2030

Libya plans to boost its natural gas production in the next five years to have more supply available for export to Europe by early 2030, National Oil Corporation Chairman Massoud…

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Oil prices gain 1.5% on increasing concerns of Iran attack

Oil prices rose more than 1.5% in Asian trade, extending gains for a third day on Thursday, on increasing concerns the U.S. may carry out a military attack on key…

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Libya signs $20bn oil deals with US and French energy companies

Libya’s Tripoli-based government signed a 25-year oil development agreement with France's TotalEnergies and the US’s ConocoPhillips that could more than double the output of its Waha Oil company. Waha, a…

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Oil prices rise as US supply worries linger after winter storm

Oil prices gained further ground on Wednesday as supply concerns lingered after a winter storm disrupted U.S. crude output and exports, while Middle East tensions lent additional support. Brent crude…

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Oil slips even as US winter storm curbs crude output

Oil prices fell on Tuesday even as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast. Brent crude futures fell 28 cents, ‌or 0.4%,…

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Oil little changed as supply concerns temper US winter output disruptions

Oil prices were little changed on Monday after climbing more than 2% in the previous session, as supply concerns kept a lid on benchmarks despite production disruptions in major U.S.…

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Oil prices rebound after Trump comments on ‘armada’ moving to Iran spur supply worries

Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against major Middle Eastern producer Iran, raising concerns of military action that could disrupt supplies. Brent crude futures…

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Oil edges up after Trump backs off tariff threat on Greenland

Oil prices edged up on Thursday, after U.S. President Donald Trump ratcheted down tension with Europe over his demand for Greenland, while disruptions in supply from two large fields in…

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Oil prices fall as risks from Kazakh production halt subside

Oil prices fell on Wednesday as an expected build-up of U.S. crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan and geopolitical pressure from U.S.…

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Oil firmer as ebbing Iranian protests lower chance of US attack

Oil prices were up slightly on Monday, after the previous session's rise, as Iran's deadly crackdown on protests quelled civil unrest, narrowing chances for a U.S. attack on the major…

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Oil prices extend losses as chance of US strike on Iran recedes

Oil prices fell in Asian trade on Friday, extending losses from the previous session, as concerns about supply risks eased after the likelihood of a U.S. strike on Iran receded.…

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Oil drops as Trump calms Iran fears

Oil prices retreated from multi-month highs on Thursday and safe-haven gold eased back from a record peak after U.S. President Donald Trump calmed market anxiety about potential U.S. military ‌action…

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Oil pauses gains as Venezuela shipments resume, but Iran concerns loom

Oil slipped after four days of increases on Wednesday as Venezuela resumed exports and U.S. crude and ‌product inventories rose, though fears of Iranian supply disruptions due to deadly civil…

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Oil extends climb on Iran supply disruption concerns

Oil prices extended gains on Tuesday as heightened concerns surrounding Iran and potential supply disruptions outweighed the prospect of increased crude supply from Venezuela. Brent futures rose 22 cents, or…

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Oil edge up as Iran supply risk counters Venezuela export resumption

Oil prices edged higher on Monday as escalating protests in Iran sparked concerns about supplies from the OPEC producer, while efforts to resume oil exports from Venezuela and expectations the…

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Oil prices gain on concerns about supply disruptions in Venezuela, Iran

Oil prices rose for a second day on Friday, set for their third weekly gain, on uncertainty about the future of supply from Venezuela and as Iranian unrest increases concerns…

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Oil prices recover, stocks wobble as investors weigh geopolitics, US data

Oil prices steadied on Thursday after their recent slide, while stocks were off to a rocky start as investors assessed the implications of deepening geopolitical tensions and mixed U.S. labour…

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Oil falls after Trump says Venezuela will send oil to United States

Oil prices declined on Wednesday after U.S. President Donald Trump said Venezuela will be "turning over" 30 million to 50 million barrels of sanctioned oil to the United States. U.S.…

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Oil flotilla sails from Venezuela despite US blockade

About a dozen oil tankers loaded with Venezuelan crude and fuel have left the country's waters since the start of the year in apparent defiance of the U.S. government's blockade…

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Gold hits one-week high on Fed rate-cut bets, Venezuela turmoil

Gold rose further on Tuesday to hit a one-week high, as dovish comments from Federal Reserve officials boosted interest rate-cut bets and Venezuela tensions bolstered safe-haven demand. Spot gold was…

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Oil falls on prospect of higher Venezuelan output, ample supply outlook

Oil prices fell on Tuesday as traders weighed the prospect of higher Venezuelan crude output following the U.S. capture of President Nicolas Maduro, adding to expectations of ample global supply…

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Oil slips as global supplies counter upheaval in Venezuela

Oil prices drifted lower on Monday, as adequate global supplies offset concerns about supply disruptions after the United States captured Venezuelan President Nicolas Maduro in an audacious raid over the…

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Oil inches up following biggest annual loss since 2020

Oil prices edged up on the first day of trade in 2026, after last year posting their biggest annual loss since 2020, as Ukrainian drones targeted Russian oil facilities and…

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Oil edges up but Brent on course for longest stretch of annual losses in 2025

Oil prices were little changed on Wednesday but are set to fall more than 15% for 2025, as supply outpaced demand in a year marked by wars, higher tariffs and…

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Oil prices retreat slightly; investors wary of Russia–Ukraine tensions

Oil prices retreated a touch early on Tuesday after rising more than 2% in the previous session, partly driven by spillover from a pullback in precious metals even as escalating…

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Oil rises as investors weigh outcome of Trump–Zelenskiy meeting

Oil prices rose on Monday as investors weighed the outcome of talks between the U.S. and Ukrainian presidents on a potential deal to end the war in Ukraine, as well…

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Oil rises slightly as market weighs supply risks

Oil prices rose slightly on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the…

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Oil steady after five-day rally on US data, geopolitical tension

Oil prices steadied on Wednesday, after gaining in the previous five sessions, supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia. Brent crude…

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Oil up on news the US intercepted an oil tanker off Venezuela

Oil prices rose on Monday after officials said the U.S. had intercepted an oil tanker in international waters off the coast of Venezuela, raising fresh supply uncertainty. Brent crude futures…

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Ukrainian war spreads to the Mediterranean

Ukraine says it has attacked a Russian “shadow fleet” tanker with aerial drones 1,250 miles (2,000km) from its borders, in the first such strike in the Mediterranean Sea since Moscow’s…

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Oil gains on Venezuelan supply concerns, but poised for weekly loss

Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects…

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Oil little changed as investor focus returns to Ukraine peace talks

Oil prices were broadly stable on Thursday as investors shifted their focus back to Russia-Ukraine peace talks while watching for any fallout from a U.S. seizure of a sanctioned tanker…

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Oil steady as supply concerns cap gains, market eyes Ukraine peace talks

Oil prices held steady on Wednesday after falling about 1% in the previous session, as concerns over supply outpacing demand capped gains and investors watched for progress in Russia-Ukraine peace…

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Oil edges down with Ukraine peace talks, US rate decision in spotlight

Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia's war in…

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WTI heads for weekly gains as Fed hopes boost market and Venezuela tensions loom

WTI oil prices were poised for a weekly gain on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow, though…

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Oil prices firm after Ukrainian strikes on Russian oil infrastructure, stalled peace talks

Oil prices gained on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to…

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Oil rises on OPEC+ output plan, supply worries

Oil prices rose on Monday after OPEC+ members reaffirmed a plan to hold output steady, as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions…

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Brent little changed as investors zoom in on Russia-Ukraine talks, OPEC+

Brent crude oil futures were little changed on Friday as investors eyed the progress of the Russia-Ukraine peace talks and the outcome of the OPEC+ meeting on Sunday for clues…

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Oil falls on expectations of ceasefire in Ukraine unlocking Russian supply

Oil prices fell on Thursday on expectations of a Ukraine‑Russia ceasefire which could pave the way for the unwinding of Western sanctions against Russian supply, though trading was set to…

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Oil climbs after hitting one-month low; supply glut weighs

Oil prices climbed on Wednesday after sliding to a one-month low in the previous session, though an expected supply glut and a potential Russia-Ukraine peace deal capped gains. Brent crude…

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Oil falls as Ukraine peace talks edge toward a solution

Oil prices slipped Monday, extending losses from last week, as Russia-Ukraine peace talks edged closer to a solution and the U.S. dollar strengthened. Brent crude futures fell 14 cents, or…

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Oil extends decline by 1.5% on hopes for Russia-Ukraine peace deal

Oil prices fell 1.5% on Friday, extending declines for a third straight session as the United States pushed for a Russia-Ukraine peace deal that could swell global market supply, while…

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Oil edges up as US peace push may add to oversupply

Oil prices edged up on Thursday after falling in the previous session as concerns a U.S. push to end the Russia-Ukraine war may add supply into an amply supplied market…

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Oil dips on oversupply sentiment but sanctions limit decline

Oil prices fell on Wednesday as an industry report showing higher crude inventories in the U.S., the world's biggest crude consumer, reinforced concerns of oversupply, though price declines were limited…

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Oil slips as loadings resume at Russian hub; markets weigh sanctions impact

Oil prices dipped on Tuesday as supply concerns eased with the resumption of loadings at a Russian export hub, briefly halted by a Ukrainian drone and missile strike, while traders…

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Oil falls after loadings resume at key Russian export hub

Oil prices fell on Monday, erasing last week's gains, as loadings resumed at the key Russian export hub of Novorossiysk after a two-day suspension at the Black Sea port that…

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Systemic Abuse in Libya’s Fuel Sector Redirects Subsidised Stocks to Multiple Markets, Including Malta

A surge in state-sanctioned fuel smuggling between 2022 and 2024 cost the Libyan people about $20bn (£15bn) in lost revenue – an alarming sum that demands decisive international sanctions against…

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Oil rises 2% after Ukrainian attack damages Russian oil depot

Oil prices jumped about 2% on Friday on supply fears after a Ukrainian drone attack hit an oil depot in the Russian Black Sea port of Novorossiysk, a major export…

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