Oil prices rally as rockets damage Iranian oil tanker in Red Sea – reports October 11, 2019 Two rockets have hit an Iranian oil tanker near a Saudi Arabian port city, according to state news, sending oil prices climbing. Oil is spilling into the Red Sea after the reported attack on the Sabity, which Iranian news agency ISNA said belonged to the National Iranian Oil Company (NIOC). Read more: Saudi Aramco could [...]
Oil prices fall on possible limit to China investments September 28, 2019 The price of oil fell on Friday and was down for the week after an escalation in trade tensions between the US and China as well as a faster-than-expected recovery from Saudi Arabia’s oil production. During a volatile session, Brent fell 83 cents to end the day at $61.91 per barrel. Read more: Oil prices [...]
IEA boss Fatih Birol: Oil demand could slow if economy stays weak September 27, 2019 The International Energy Agency could cut its forecasts for global oil demand again if economies around the world fail to pick up speed, its executive director warned today. IEA boss Fatih Birol said that a weaker global economy would reduce demand for oil. Read more: British tanker Stena Impero seized by Iran leaves port His [...]
Saudi Arabia restores oil production after drone attack September 25, 2019 Saudi Arabia has restored much of its oil production less than two weeks after a drone attack struck refineries in the kingdom. State oil company Saudi Aramco has restarted production of 11.3m barrels of oil a day, sources briefed on the issue told Reuters. Read more: How could the oil attacks in Saudi Arabia affect [...]
Boris Johnson blames Iran for drone attack on Saudi oil September 23, 2019 Boris Johnson this morning pointed at Iran for the drones that struck Saudi Arabia’s oil infrastructure, the first time the UK has assigned blame after the attack on 14 September. Johnson said that Iran was likely responsible for the attack, which took out about half of state producer Saudi Aramco’s oil production, while causing oil [...]
Oil prices post weekly gains despite last-minute dip on renewed trade tensions September 21, 2019 Oil prices fell on Friday on renewed concerns that the US-China trade war could escalate, but still posted strong weekly gains. Brent ended the week with its biggest increase since January following the attack on Saudi Arabia’s oil facilities last weekend. Read more: Oil prices plunge as Saudi production could return sooner than expected On [...]
Iranian leader says Saudi attacks were ‘warning’ from Yemenis September 18, 2019 Iran this morning denied any involvement in a series of attacks on Saudi Arabian oil infrastructure over the weekend as the Saudis prepare to reveal “material evidence” of Tehran’s role. Iranian President Hassan Rouhani said that the attacks had come as a “warning” from Houthi fighters in Yemen’s civil war, which he accused western countries [...]
Oil prices plunge as Saudi production could come back online sooner than expected September 17, 2019 Oil prices fell dramatically this afternoon as it was revealed that Saudi Arabia expects that it will have repaired all of its output in just weeks. Prices bounced yesterday as markets reacted to the news that a drone attack had taken out half of Saudi Arabia’s oil production. Read more: Saudi oil attack: How high [...]
Oil prices steady after Saudi attacks sparked record rise September 17, 2019 Oil prices steadied this morning after markets shouldered a massive shock yesterday when prices rocketed at their fastest rate ever. The price of Brent crude, the international standard, was more or less unchanged at $69 per barrel this morning. Read more: Saudi oil attack: How high could oil prices go after record-breaking rise? Yesterday’s shock [...]
US markets fall while oil prices rise after attacks on Saudi supply September 16, 2019 Wall Street fell this afternoon after the weekend’s attack on Saudi crude oil facilities knocked out five per cent of the world’s supply. The attack on the world’s biggest oil exporter boosted oil prices by as much as 20 per cent before they eased off, as US President Donald Trump gave the green light for [...]