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US President Donald Trump is reportedly considering deploying thousands of American troops to the Middle East to reinforce operations, while Washington and Tehran exchange threats. This comes after Iran threatened to target US-linked oil and gas refineries in the Gulf in response to an attack on its South Pars gas field, further escalating the conflict.
Hungarian Prime Minister Viktor Orbán has reaffirmed his steadfast opposition to the EU's crucial €90 billion loan for Ukraine, stating at the EU leaders' summit in Brussels that no decision helping Ukraine will be approved until the oil issue is resolved.
The Czech Republic is preparing to commence technical investments in the Druzhba oil pipeline to enable oil transport to Slovakia, a crucial project that could also aid Hungary's oil crunch.
Saudi FM says his country reserves the right to act militarily against Iran and any trust with Tehran has been shattered.
If the U.S. follows through on its threats to bomb the oil assets on Kharg Island, the war would likely escalate and oil prices would increase exponentially.
Members of the U.S. Helsinki Commission have urged American officials to impose sanctions and utilize other tools against Georgian Dream authorities, following recommendations from the OSCE’s Moscow Mechanism report.
French President Emmanuel Macron has called for a moratorium on attacks against oil and gas facilities in the Middle East, prompting a response from Iran criticizing France for not condemning Israeli-American attacks.
Gold and silver prices have moved lower, with gold wavering as traders assess inflation risks and the impact of oil-supply shocks, following a six-day decline and warnings from the Fed on inflation.
MANILA, Philippines — The major oil price hike continues to affect the livelihood of many jeepney drivers and operators, as they can only earn around P200 to P300 from a whole day of plying their…
The Russian ambassador to Cyprus stated that EU sanctions have led to an annual revenue loss of over €1 billion for the Cypriot economy due to the lack of Russian tourists, prompting calls from Cypriot businesses for their return.
Despite benefiting from increased revenue due to high gas prices, oil companies face the risk of suffering if the energy shock depresses demand from consumers and businesses.
China is reportedly weathering the oil shock from the ongoing Iran war better than other Asian economies, despite the region's overall vulnerability to energy import disruptions. Investment banks are highlighting Asia's reliance on energy imports as a top concern.
Global oil and natural gas prices have surged significantly, with Brent crude reaching $114, following escalating attacks on critical energy infrastructure in the Middle East, including Iran's attacks on several Gulf facilities. This has led to fears of further price increases for electricity in Europe and concerns about global supply.
The Bank of Japan decided to maintain its current monetary policy, a decision likely influenced by the ongoing situation in Iran, which has led to rising oil prices and yen depreciation, necessitating careful assessment of economic impacts.
MANILA, Philippines — Ferdinand Marcos Jr. on Thursday said the government is looking for alternative sources of petroleum products as disruptions in oil supply triggered by the Middle East conflict…
U.S. President Trump warns of devastating response if Tehran persists in targeting the region’s oil and gas production.
The United States has agreed to release over 150 million barrels of oil from its strategic petroleum reserve, raising questions about the implications for storage sites in Texas.