Iran Denies Seeking Truce as Dubai Oil Port Damaged
Iran denied US President Donald Trump’s assertion that it wants ceasefire talks, launching fresh attacks across the Persian Gulf and forcing a suspension of flights at Dubai’s main airport. The…
Oil Prices Remain Volatile as Hormuz Tensions Rise
Oil markets remained volatile in early Asian trade on Monday as Trump attempts to form a broader coalition of countries to protect shipping through the Strait of Hormuz amid fresh…
Trump Bombs Iran’s Kharg Island and Threatens to Hit Oil Exports
U.S. President Donald Trump said American forces had launched a major bombing raid on Iran’s strategic Kharg Island, targeting military facilities on the key Persian Gulf outpost while warning Tehran…
Bank of America: Sell Oil Above $100
Bank of America is warning investors not to chase oil prices higher if crude climbs above $100 per barrel, arguing that prices at those levels tend to trigger government and…
China’s Sinopec to Slash Refinery Rates amid Crude Supply Shock
The top Asian refiner, China’s state-controlled Sinopec, plans to slash this month its refinery processing rates by 11-13% as crude supply is choked by the Middle East war, Reuters reported…
Hormuz Crisis Forces Massive Saudi Oil Shut-In
Saudi Arabia has slashed oil output by roughly 20% as the war with Iran continues to choke off exports from the Persian Gulf, in what could become one of the…
U.S. strike near Iran’s Kharg Island heightens risk of oil supply disruption
(Bloomberg) – A U.S. strike near Iran’s Kharg Island, the country’s main crude export hub, has heightened concerns about potential disruptions to global oil supply as conflict in the Middle…
