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Tanker in Strait of Hormuz

July 8th, 2026 - 08:10 GMT

P. Choiaqo

Oil prices jump as Iran and US renew strikes on each other

ALBAWABA - Oil prices surged on Wednesday and continue to trend upward as the U.S. and Iran renew strikes on each other. It seems that the war will not be over quickly, as major breaches of the MoU took place on Wednesday, it started when Iran hit three vessels in the Strait of Hormuz, a Qatari LNG tanker named ‘Al Rekayyat’, along with a Saudi Supertanker ‘Wedyan’, and another unidentified ...

Brent crude oil prices, the international benchmark, fell 7 percent after President Donald Trump announced new tariffs on $300 billion worth of Chinese imports.

August 4th, 2019 - 11:30 GMT

China Unloads Iranian Oil Tankers in Defiance of US Sanctions

Oil prices are expected to be range-bound near current levels this year

August 1st, 2019 - 07:30 GMT

Saudi Arabia’s Oil Production to Remain Below 10 Million bpd in the Coming Months

Iranian land-based oil inventories, both home and abroad, are showing signs of climbing ever higher.

July 31st, 2019 - 07:30 GMT

Iran's Oil Exports Plummet in July to 100,000 bpd Due to Sanctions, Rising Tensions

The price of Brent crude remained relatively stable during the June-July period

July 30th, 2019 - 10:30 GMT

International Prices of Petroleum Products Soar in July

Iran has admitted that tighter US restrictions that began in May have affected imports although authorities insist they would continue to sell crude through unconventional methods.

July 29th, 2019 - 06:48 GMT

China Continues to Import Iran’s Oil Despite US Sanctions

Central Bank of Iran will carry out its duties and responsibilities

July 22nd, 2019 - 07:30 GMT

Central Bank of Iran Put the Trade Surplus at $12 Billion

Global demand growth of 0.93 million barrels a day year-on-year in 2019 and 1 million barrels a day during 2020

July 22nd, 2019 - 05:12 GMT

Oil Demand to Remain Subdued Due to Trade War Concerns

The situation is set to improve during the second half, which may only constitute a hiatus before a new wave of non-OPEC production to the tune of 2.1 million bpd hits the markets.

July 16th, 2019 - 09:09 GMT

Oil Markets Brace for Non-OPEC Supply Increase

Brent crude’s price jumped to $66.72 and WTI’s to $60.21 per barrel.

July 14th, 2019 - 09:00 GMT

OPEC: Oil Prices Increasing Despite Bearish Outlook

Of the 34 awarded contracts, around 50 per cent went to high-caliber Saudi firms that have proven their ability to handle complex projects.

July 10th, 2019 - 07:33 GMT

Saudi Aramco Awards $18 Billion Contracts to Boost Production Capacity

Saudi Arabia's Energy Minister Khaled al-Falih arrives at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) for meeting on July 01, 2019 in Vienna, Austria.

July 7th, 2019 - 08:28 GMT

Saudi Increased Oil Supply Failed to Offset Iran, Venezuela Losses in June

Despite lower supplies, crude oil has fallen from a six-month high above $75 a barrel in April

July 6th, 2019 - 12:00 GMT

OPEC Output Sinks to New Five-Year Low