Petrol

China’s top refiner posted a strong first quarter as higher crude prices lifted inventory values and stable domestic fuel sales helped to offset pressure from disrupted Middle East supply. China Petroleum & Chemical Corporation (Sinopec) reported first-quarter net income of 17 billion yuan ($2.49 bi

Trump's blockade is having a predictable effect on Iran's economy and oil industry, with reports that the regime is scrambling to repurpose old and rusty tankers as floating storage. Kharg Island is hitting capacity and the results could lead to disaster for Iran's oil wells. The regime is reportedl

The Dow Jones Industrial Average saw marginal gains on Tuesday's session, with futures holding near 49,200 and the underlying cash index adding roughly 0.1%, propped up by a 5% jump in Coca-Cola (KO) after a stronger-than-expected earnings print.

The European Union would prefer Southeast Asian countries to diversify their oil supply by buying oil from producers other than Russia, the EU’s foreign policy chief Kaja Kallas said on Tuesday during meetings of representatives with ASEAN countries. Southeast Asian economies such as the Philippines

Brent surges above $110 as fears grow that the U.S.-Iran war could drag into a prolonged conflict, while the UAE’s shock OPEC exit raises questions over a broader Middle East energy realignment. Oil Boom, Currency Zoom: Energy Winners Surge as Importers Feel the Burn- The US-Iran conflict has propel

The world’s top crude exporter, Saudi Arabia, is expected to slash its official selling prices (OSPs) for crude loading for Asia in June from the record-highs for May as the premiums of the Middle Eastern benchmarks eased this month. Saudi oil giant Aramco is widely expected to announce in early May

President Donald Trump posted on Truth Social Tuesday that Iran had "informed" his administration it was in a "state of collapse" and urgently wanted the Strait of Hormuz reopened. "Iran has just informed us that they are in a 'State of Collapse.' They want us to 'Open the Hormuz Strait,' as soon as

Societe Generale analysts note Brent has rallied above $110 per barrel, with negotiations over Iran focused on restoring the status quo and reopening the Strait of Hormuz.

Asia's LNG imports slumped in March to the lowest level in seven years for the month as the closed Strait of Hormuz trapped the supply and Qatar declared force majeure following Iranian missile strikes on its LNG infrastructure. Asian imports of liquefied natural gas dropped by 4.3% from a year earl

The United Arab Emirates (UAE) announces its decision to leave the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+), marking a major turning point for the balance of the global energy market.

The United Arab Emirates is leaving OPEC and OPEC+, effective May 1, the country's state news agency WAM confirmed Tuesday, ending nearly six decades of membership and stripping the cartel of its third-largest producer in one of the most consequential exits in OPEC's history. The announcement landed

Crude prices appreciated for the second consecutive day on Tuesday, with the US benchmark West Texas Intermediate (WTI) barrel changing hands at $98.00 at the time of writing, its highest price since April 13.