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Oil Prices Up 3% As Trump Demands Changes To Iran Deal
Oil prices pushed higher Monday, with Brent crude topping $94 per barrel and WTI climbing above $90, after President Donald Trump sent a proposed Iran peace agreement back for revisions, raising fresh questions about how quickly the Strait of Hormuz can be fully reopened to globa
French Navy Seizes Russia-Linked Tanker in the Atlantic
The French Navy has boarded and seized a Russia-linked oil tanker in the Atlantic. The vessel is under international sanctions, French President Emmanuel Macron said on Monday. On Sunday morning, the French Navy seized the Tagor, an oil tanker that departed from Russia, Macron wr
Danish Shipyard Remains Key Lifeline for Russia’s Yamal LNG Fleet
A Danish shipyard has remained the single EU facility that services LNG carriers that transport gas from Novatek’s Yamal LNG terminal, the Financial Times has reported, citing a local NGO. According to data from the organization, Urgewald, the Fayard shipyard is providing dry doc
Indian Refiners Freeze Domestic Jet Fuel Prices
Indian refiners have frozen the price of jet fuel for domestic flights after airlines asked for a respite from fuel price hikes, Bloomberg has reported, adding that in April, jet fuel prices jumped by 8.6% in response to tighter supply. In an additional concession to airlines, In
Oil Prices Rise as Israel Expands Lebanon Offensive and U.S. Strikes Iran
Oil prices climbed in early Asian trading on Monday as Israeli troops moved further into Lebanon over the weekend and the U.S. hit targets in Iran, adding fuel to fears that the broader Middle East conflict is moving toward escalation rather than a peace deal. At the time of wri
Goldman Sachs Sees Oil Demand Destruction Offsetting Supply Shock Risks
Demand destruction resulting from higher prices will somewhat soften the blow from physically tighter oil markets, Goldman Sachs commodity analysts said in a note. “We see significant upside price risks from potentially more persistent Mideast supply losses but also meaningful pr
The Iran War’s First 90 Days Upended Energy Markets
The Iran war suddenly turned what had started as a year of oversupply in global oil and LNG markets into the worst oil and gas supply disruption in history. Three months after the U.S.-Israeli strikes on Iran began on February 28, the world has already lost 1 billion barrels of c
Britain’s Nuclear Renaissance Faces Mounting Cost Pressures
The United Kingdom is focused on diversifying its energy mix away from fossil fuels to boost energy security and support decarbonisation aims. This includes expanding its nuclear power capacity with the development of two large-scale nuclear plants - Sizewell C and Hinkley Point