Oil prices were lower this week as the post-election enthusiasm waned, demand concerns returned, and as the US dollar strengthened. Again, geopolitical tensions in the Middle East were not a major contributor to price movements. Downwardly-revised demand and price forecasts for next year also put pressure on prices.
Suez Canal’s revenue jumped by 42% in July from the same month last year as the number of oil tankers passing through the Egyptian gateway to the Mediterranean surged amid…
Kuwait’s crude oil exports have rebounded to about 1 million barrels per day (bpd), recovering to two-thirds of the 1.6 million bpd shipped through the Strait of Hormuz before the…
