Saudi Arabia Offers Rare Spot Crude as Strait of Hormuz Traffic Collapses
Saudi Arabia is offering crude oil on the spot market in an unusual move prompted by the almost complete freeze on tanker traffic in the Strait of Hormuz, Bloomberg has…
Iraq’s Oil Output Plunges 70% as Gulf Shipping Crisis Deepens
Crude oil production from Iraq’s southern fields has dropped by 70% since the start of the U.S. and Israeli war on Iran, with the average daily production at 1.3 million…
Analyst Flags ‘Incredible’ Oil Price Moves
In a market comment sent to Rigzone on Monday morning, Aaron Hill, Chief Market Analyst at FP Markets, noted that, as of early trading this morning, both WTI and Brent…
Oil Prices Surge Past $100 as Iran Names New Supreme Leader
Oil prices surged in early Asian trading on Monday, breaking above $100 per barrel for the first time in nearly four years as the Iran conflict escalated and Ayatollah Mojtaba…
