EUROPE GAS-Prices drop on profits and mild weather
Dutch and British wholesale prices of gas fell on Tuesday due to profit-taking after recent gains, a comfortable stock position and forecasts for mild weather. LSEG data show that the benchmark front-month…
The price of gasoline in Europe is rising due to concerns about Middle East tensions
Dutch and British wholesale prices of gas edged up on Monday morning due to concerns about the Middle East conflict escalation. Israel is increasing its attacks on Lebanon and Yemen. However, strong storage inventories limited further upside potential.
New refineries bring down profits for global refiners
Oil refiners across Asia, Europe, and the United States have seen their profitability drop to multi-year-lows. This is a significant downturn in an industry which had previously enjoyed booming returns following the pandemic.
Saudi-led Coalition Foils Remote Controlled Boat Attack
A Saudi-led military coalition fighting against Yemen's Houthi movement foiled an attack by two explosives-laden remote controlled boats deployed by the Houthis against Saudi Arabia's Jizan port, Saudi state…
Saudi Arabia Resumes Oil Exports through Red Sea Lane
Top oil exporter Saudi Arabia said on Saturday it has resumed all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb.Saudi Arabia halted temporarily oil shipments through the lane on…
Oil Falls Below $73 on Rising Supply, Trade Worries
Oil extended losses on Wednesday to fall below $72 a barrel, pressured by an industry report that U.S. stockpiles of crude rose unexpectedly and higher OPEC production, adding to indications of more ample…
Supertanker Hauling Saudi Crude U-turns After Recent Attack
A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two
Oil Prices Pare Gains After Earlier Rise on Saudi News
Oil prices traded broadly unchanged on Thursday after an announcement that Saudi Arabia would suspend some oil shipping in the Red Sea had initially sent prices higher.Brent futures had risen 19 cents to $74.12 a barrel by 1305 GMT…
Saudi Arabia Halts Red Sea Oil Exports after Tanker Attacks
Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation…
Houthis Say They Fired Missile at Saudi Aramco Center
Yemen's armed Houthi movement launched a ballistic missile at a Saudi Aramco facility in Saudi Arabia's southwestern Jizan province on Monday, the group's al-Masirah TV reported, but a Saudi-led coalition…
Oil Eases but Saudi Tensions Support
Brent slightly up, WTI a fraction lower after Monday surge. Oil eased on Tuesday, after having posted its largest gain in six weeks the previous day, while tension flared between Saudi Arabia and Iran, just…
Saudis Stop Tankers From Entering Yemen, UN Says
A Saudi-led military coalition and the government of Yemen denied four oil tankers access to a Yemeni port last week, a move that could hurt the flow of aid and exacerbate a cholera outbreak in the country, a United Nations agency said.
Aramco Fuel Distribution Terminal Bombing Foiled
Saudi forces have foiled an attempt to blow up an Aramco fuel terminal in southern Saudi Arabia using a high-speed boat laden with explosives, the interior ministry said on Wednesday, and accused Yemen's Houthi group of being behind the attempt.
China, Saudi Arabia Mull Billions in Energy Deals
King seeking investments after launching reforms; Saudi Arabia, China looking at refinery, petrochemical projects. Saudi Arabia's King Salman oversaw the signing of deals worth potentially $65 billion on the first day of a visit to Beijing on Thursday…
Britain Plans to Deepen Security Cooperation with Gulf
Britain plans to deepen security cooperation with Gulf Arab countries and work with them to counter Iranian actions in the region, Prime Minister Theresa May said on Wednesday. Addressing a meeting on the…
Saudis Halt Egypt Oil Shipments
Saudi Arabia has informed Egypt that shipments of oil products expected under a $23 billion aid deal would be halted indefinitely, suggesting a deepening rift between the Arab world's richest country and its most populous.
Yemen Resumes Oil Output, Exports from Masila Fields
Yemen has resumed production and exports from its Masila oilfields for the first time since a civil war began more than 16 months ago, state news agency sabanew.net reported on Thursday. The agency, which…
Fire Near Yemeni Oil Facility Kills Worker
A fire that broke out at a domestic gas storage facility in Yemen's Marib province on Thursday killed a worker and seriously injured four others, according to state media and a local official. Firefighters…
Al Qaeda Still Reaping Oil Profits in Yemen
Al Qaeda may have been pushed out of the enclave it carved out in Yemen as the country descended into civil war, but the militants are still entrenched in other parts of the country's south, reaping profits from smuggled fuel.
Yemeni Forces Seize Main Oil Terminal From al Qaeda
Yemeni government forces and their Emirati allies took back control of the country's largest oil export terminal from al Qaeda on Monday, security officials said, a day after routing the militants from their nearby stronghold.
