Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea’s Bab al-Mandeb Strait, one of the world’s most important tanker routes, after Yemen’s Iran-aligned Houthis attacked Continue Reading
A powerful commander of Iran’s elite Revolutionary Guards said on Thursday Donald Trump should address any threats against Tehran directly to him, and mocked the U.S. president as using the Continue Reading
A top Iranian commander has warned Donald Trump that the Islamic republic’s forces “are close to you in places you cannot think of” as Tehran ramps up its war of Continue Reading
Higher oil prices are invariably good news for oil-dependent economies. The latest price rally is particularly good news for the world’s top oil exporter, Saudi Arabia, whose budget deficit is Continue Reading
On August 6th, the first batch of sanctions against the Islamic Republic will go into effect. This includes sanctions on the acquisition of US dollar banknotes by Iran’s government, sanctions Continue Reading
Hindustan Petroleum has cancelled a crude oil shipment from Iran after its insurer refused to provide coverage for the cargo on concern about U.S. sanctions, Reuters reports , citing three Continue Reading
A shut-down of transmission lines left millions without power for hours, reinforcing the grievances of a protest movement that has caused minor disruptions at oil sites. Protesters prepare to burn Continue Reading
If Aramco goes ahead with an international bond, the sale would force it to disclose its accounts to investors for the 1st time since nationalization 4 decades ago. (Bloomberg) — Continue Reading
Racing to keep up with hyper-inflation which the International Monetary Fund (IMF) forecasts will hit 1,000,000 percent this year, the Venezuelan government said it will knock five zeros off its Continue Reading
China unveiled this week measures to reinvigorate its economic growth with support for infrastructure investments that are likely to boost demand for various commodities, including oil. As the U.S.-China trade Continue Reading
