Oil prices eased on Thursday, extending losses on reports of Saudi Arabia offering extra crude cargoes through Oman, which reduced fears of supply disruptions, but stayed above $100 on concerns about the Middle East conflict expanding. Brent crude futures dropped $1.88, or 1.8%, to $103.95 a barrel, while United StatesContinue Reading
Oil prices moved higher toward $100 per barrel, supported by growing concerns over potential disruptions to crude production, refining and tanker movements in the Middle East. Brent crude was trading around $97.66 per barrel, while West Texas Intermediate (WTI) stood at approximately $93.05 per barrel. The gains reflect increasing uncertaintyContinue Reading
Oil prices climbed to multi-week highs on Tuesday as concerns over prolonged disruption to Middle East supply increased, adding fresh risk to global crude markets. Brent crude rose to $98.25 a barrel, while U.S. West Texas Intermediate (WTI) reached $93.70, according to Reuters. Brent had earlier reached $98.79 a barrel,Continue Reading
Several major contractors have emerged as frontrunners for a major expansion of QatarEnergy’s Maydan Mahzam offshore oil field, with the project estimated at $4 billion-$5 billion and expected to significantly expand production infrastructure in Qatar’s offshore sector. QatarEnergy issued the main engineering, procurement and construction (EPC) tender for the MaydanContinue Reading
Saudi Arabia is increasing the use of an alternative oil export route through Egypt as disruptions in the Red Sea and other key Middle East shipping corridors affect regional crude flows. Exports from Egypt’s Mediterranean port of Sidi Kerir rose to about 2.3 million barrels per day in August, moreContinue Reading
Oil prices climbed more than 2% on Tuesday as fading hopes of an imminent agreement to reopen the Strait of Hormuz renewed concerns over global crude supply and shipping disruptions. Brent crude futures rose 2.4% to around $89.80 a barrel, while US West Texas Intermediate (WTI) crude gained 2.7% toContinue Reading
