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Oil Prices Drop Amid Hopes for US-Iran Talks
Markets calm down as supply fears ease in early Asian trading. Fresh Drops in Crude Markets Oil prices fell during early Asian trading on Tuesday. Supply concerns eased across the global energy market. Investors noticed signs of possible
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US Blockades Iranian Ports After Islamabad Peace Talks Fail
The US military will blockade Iranian ports on Monday following failed peace talks. The blockade begins at 10:00 ET despite a temporary ceasefire. President Donald Trump ordered the action after weekend negotiations completely collapsed in
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US-Iran Ceasefire Talks Collapse As Trump Threatens Hormuz Blockade
US Vice President JD Vance left Pakistan on Sunday. Marathon ceasefire talks with Iran ended without an agreement. Negotiators debated for 21 hours in Islamabad. Vance said Iran refused American terms. He stated Iran must abandon its nuclear
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Indonesia conducts test flight using jet fuel mixed with palm oil
Indonesia conducted its first test flight using jet fuel partially from palm oil on Wednesday, a senior minister said, as the country plans to
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Oil slides 5% to lowest level since June on demand fears
Oil slid 5 percent to below $40 a barrel on Tuesday, its lowest since June, over concerns that a demand recovery could weaken as coronavirus
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Kuwait and Saudi Arabia to restart Neutral Zone production
Kuwait and Saudi Arabia have resolved their dispute over the so-called Neutral Zone, which is shared by both countries, clearing the way for oil and
Read MoreDME Oman crude up over 100% since production cuts implemented
Oman crude oil Benchmark trading on the Dubai Mercantile Exchange, DME, has doubled in price since the record cuts agreed by the OPEC+ group and other major producers were implemented in time for May loading schedules. DME said in a statement
Read MoreSaudi Arabia and Russia committed to achieving oil market stability
Saudi Arabia and Russia vowed in a joint statement on Wednesday their commitment to oil market stability. The statement was released following a phone call between Saudi Energy Minister Abdulaziz bin Salman and his Russian counterpart Alexander
Read MoreOman oil prices continue to rise
The price of Omani oil continued its rise, with prices for delivery by next July reaching $31.49 USD on the Dubai Energy Market. A statement issued online by the Oman News Agency (ONA) said: “The official price of Oman oil on the Dubai
Read MoreUAE to cut oil output by 100,000 bpd in June
The UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia's efforts to rebalance the world oil market, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and
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