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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 futures were up $1.71, or 2.85 percent, at $61.68 a barrel by 0908 GMT, having risen as much as 4.45 percent to $62.64.

June 14th, 2019 - 07:30 GMT

Oil Prices Rise Following the Tanker Attack in Gulf of Oman

In order for Europe to help Iran with its oil exports and international banking, Iran must be able to sell oil.

June 13th, 2019 - 09:30 GMT

Iran May Change Its Stand on Nuclear Deal Due to Oil Sanctions

US crude inventories rose by 4.9 million barrels in the week ended June 7 to 482.8 million barrels.

June 13th, 2019 - 07:09 GMT

Oil Supply Cuts to Be Extended at Least Until End of Year

Iran confirmed attending the upcoming OPEC meeting in Vienna later in June.

June 9th, 2019 - 09:00 GMT

Iran: No Intentions to Leave OPEC

Brent and WTI crude prices rose to $63.29 and $53.99 per barrel respectively.

June 9th, 2019 - 06:00 GMT

Oil Prices Continue to Fall As Volatile Market Described Worst Since the Financial Crisis

The pact ends this month and the group meets in coming weeks to decide their next move

June 8th, 2019 - 03:00 GMT

Opec Close to Deal on Oil Output Cut Extension

Turkey’s political situation has been unstable since the results of the Istanbul mayoral race were canceled and the vote was set for a re-run on June 23.

June 4th, 2019 - 12:02 GMT

Starting Next Month Turkey Buys Oil From Iraq Instead of Iran

Bahrain has issued a new edict allowing foreign companies to own 100 per cent of oil and gas drilling activities in the kingdom.

June 3rd, 2019 - 12:30 GMT

Bahrain Grants Full Foreign Ownership in Oil, Gas Drilling

Iraq exported 106.6 million barrels from the country’s central and southern oil fields.

June 2nd, 2019 - 12:00 GMT

Iraq Crude Oil Exports Reaches 3.572 Million bpd in May

Terrorist actions not only target the kingdom and the Gulf region, but also target the safety of navigation and world oil supplies.

June 2nd, 2019 - 07:30 GMT

Saudi Arabia: Regional Terrorist Attacks May Threaten Oil Supplies

Some of Iran's oil exports are already under the radar, making it harder to assess the actual volume.

May 30th, 2019 - 07:30 GMT

Iran's Oil Exports Plummet to 400,000 bpd Due to US Sanctions

OPEC, Russia and other producers agreed to cut output by 1.2 million barrels per day

May 30th, 2019 - 07:00 GMT

Russia Mulls Extending Oil Output Reduction with OPEC