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Oil

Oil latest

Tanker in Strait of Hormuz
July 8th, 2026 - 08:10 GMT
P. Choiaqo

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 ...
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Iran has denied any involvement in the attacks.
May 16th, 2019 - 06:43 GMT

Saudi Facility Attacks Affect Asian Oil Buyers, Shippers

According to World’s Top Exports, 5 countries out of the world’s top 10 oil exporters are located in the Middle East with Saudi Arabia topping the list.
May 15th, 2019

World's Top 10 Oil Exporters

Oil prices rose after the attacks. Brent crude futures were at $70.79 a barrel at 1035 GMT.
May 15th, 2019 - 07:16 GMT

Terrorists Attack 2 Oil Stations in Saudi Arabia

The UAE foreign ministry had reported that four commercial vessels were targeted near its territorial waters.
May 13th, 2019 - 08:06 GMT

Two Saudi Oil Tankers Were Targets of ‘Sabotage Attack’ off UAE Coast

Brent crude price will hold above $70 a barrel in second quarter.
May 13th, 2019 - 06:12 GMT

What Will the Barrel's Price Be in This Fluctuating Oil Market?

Washington does not want war with Iran but will continue putting maximum pressure on it until it changes its behavior
May 9th, 2019 - 08:37 GMT

US Will Stop Granting Iran Sanctions Waivers

The project is expected to directly create around 1,000 job opportunities for Jordanians and more than 2,000 jobs indirectly
May 8th, 2019 - 08:25 GMT

Jordan to Rely on Oil Shale Power Station to Generate 15 Percent of Its Electricity Needs

South Sudan has one of the largest reserves of crude in sub-Saharan Africa
May 7th, 2019 - 10:30 GMT

South Sudan, South Africa Sign 6-Year Agreement for Oil Exploration

Both oil and US dollar values are likely to feel downward pressure as the market insists on affordability amid a fall in demand
May 6th, 2019 - 05:38 GMT

How China-US Trade Talks Affect the Oil Market

Aramco and SABIC have been contributing to bolstering the Kingdom's experience in being introduced to global markets
May 5th, 2019 - 08:53 GMT

Saudi Aramco Develops New Technology to Reduce Fuel Consumption and Environmental Pollution

In a bid to reduce Iran's oil exports to zero, buyers of Iranian oil must stop purchases by May 1 or face sanctions.
May 5th, 2019 - 05:12 GMT

Iran Ridicules Effect of US Sanctions

The US will also revoke two waivers that allowed Iran to ship its excess heavy water for storage and swap its enriched uranium for natural uranium
May 4th, 2019 - 07:50 GMT

While Tightening His Grip on Oil, Trump Extends Nuclear Waivers for Iran

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