Kansas Fed Pres Warns Oil Price Shock Might Not Be Transitory
Federal Reserve Bank of Kansas City President Jeffrey Schmid has warned that the current global energy shock cannot simply be dismissed as transitory, given already-elevated baseline inflation. Speaking at a…
Chevron CEO: Multiple Ships Attacked In Strait of Hormuz
Multiple vessels transiting the Strait of Hormuz have suffered attacks this week, Chevron Corp. (NYSE:CVX) Chief Executive Officer Mike Wirth revealed in an interview on Bloomberg TV on Friday. According…
Philippines Receives First Iranian Crude Cargo Since Hormuz Blockade
The Philippines has received its first cargo of Iranian crude, Reuters reported on Friday, citing tanker-tracking data from Kpler and Vortexa. A Suezmax vessel capable of carrying up to 1…
Oil jumps after report Iran suspends communications with U.S.
(Bloomberg) – Oil surged as traders reacted to an Iranian report that the country will stop exchanging messages with the U.S. over Israel. Brent climbed as high as $96.10…
Iran, US Tentatively Agree to Renew Truce for 60 Days
Friday May 29, 2026 – The US and Iran have reached a tentative deal to extend a ceasefire by 60 days and launch further talks on Tehran’s nuclear program, a…
India’s Central Bank Warns Oil Shock Threatens Growth
India’s economy remains resilient to the external shocks, but the oil price surge amid the global supply disruption poses near-term downside risks to economic growth and upside risks to inflation,…
Japan Crude Imports Fell 66% in April
Amid the supply disruption in the Middle East, Japan’s crude oil imports crashed by 66% in April from the same month last year, official Japanese data showed on Friday. Japan…
Oil Prices Set to Slump 19% in May as Market Bets on U.S.-Iran Deal
Early on Friday, oil prices were on track to plunge by 19% in May as traders and speculators bet on an extended ceasefire and an eventual U.S.-Iran deal despite the…
Norway Lobbies to Persuade EU to Drop Arctic Drilling Ban
Norway, Western Europe’s top oil and gas producer, has intensified lobbying at the European Union to persuade the bloc to remove or tweak its moratorium on Arctic oil and gas…
Saudi Arabia Expected to Slash Oil Prices Again
Saudi Arabia is expected to slash again the official selling prices of the crude it will load for Asia in July amid weakening demand and narrowing spot Middle East crude…
