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Saudi Arabia Plans Massive Expansion of Oil Pipeline to Bypass Hormuz
Saudi Arabia plans to raise the capacity of its East-West onshore oil pipeline that helps it bypass ...
Fed’s Waller: Trump is a threat to Fed independence
Federal Reserve (Fed) Governor Christopher Waller said in the Bloomberg New Economy Forum 2026 discu...
IMF Warns Middle East War Could Derail Global Economic Growth
The energy crisis sparked by the war in the Middle East remains the biggest risk for the global econ...
Gaza Ceasefire Unravels as Regional Pressure on Israel Grows
Politics, Geopolitics & Conflict Eight Arab and Muslim countries have accused Israel of violating the Gaza ceasefire as Israeli strikes continue more than nine months after the U.S.-mediated “truce” t ...
Oil Prices Tumble as Traders Price In a Strait of Hormuz Breakthrough
September WTI crude oil futures are trading at $78.08 early Friday, down $8.72, or 10.05%, for the week. The market opened at $80.10, traded as high as $82.33, and fell to $74.24. With Friday’s sessio ...
India's Crude Oil Output Falls for Third Straight Year
India’s crude oil production fell for the third consecutive financial year in 2025/2026, the government said as it launches a push to boost offshore oil and gas exploration. India’s crude output fell ...
Shipping Through Hormuz Drops Sharply as Tensions Rise
Vessel traffic through the Strait of Hormuz has declined this week from the prior week amid uncertainty about the U.S.-Iran talks and the potential reopening of the Middle East’s key oil and LNG choke ...
China’s Crude Imports Bounce Back After Historic June Slump
China’s crude oil imports reversed an earlier decline, rising by 22% from June to an average daily of 8.45 million barrels, or a total of 35.73 million tons, Bloomberg reported today, citing customs d ...
Russia Turns to South Korea for Fuel as Refinery Crisis Deepens
Russia last month imported some 30,000 metric tons of fuels from South Korea to tackle supply constraints caused by continued Ukrainian drone attacks on refineries. According to a Reuters report citin ...
Oil Prices Jump as Houthi Attacks Raise Saudi Supply Risks
The Yemeni Houthis have struck Saudi Arabia’s southern province of Najran in the latest flare-up of Middle Eastern hostilities, killing 11 civilians, Reuters has reported, citing a spokesman for the m ...
Lower Oil Prices Lend Support For The Gold Rally
Oil prices fell for a second week running thanks to optimism surrounding renewed U.S.-Iran diplomacy to reopen the Strait of Hormuz. U.S. President Donald Trump announced on Monday that talks between ...
Gas Shortages and High Prices Derail Southeast Asia’s Power Buildout
Southeast Asia is falling short of its ambitious projects to boost gas-fired power generation to meet growing electricity demand and replace some of the coal use. Fuel availability, volatile prices, a ...
UK Drivers Take To Fuel Theft amid War-Driven Price Surge
Drivers in the United Kingdom have started filling up their tanks without paying for the fuel as driving costs surge on the fuel supply crunch driven by the war in the Middle East. The crimes include ...
Europe's Electricity Prices Spike to €500 a Megawatt-Hour as Drought Bites
Intense summer heat waves are threatening energy security across Europe. The continent is facing a scorching and arid summer, causing electricity demand for air conditioning to skyrocket at the same t ...
U.S. Diesel Exports Hit Record High as Global Supply Crunch Deepens
US distillate exports surged to a record last week as global supplies tightened. Disruptions across the Gulf area and various surrounding maritime chokepoints, as well as Ukrainian one-way attack dron ...