Oil Prices

Oil prices drop as traders watch developments in Iran nuclear talks

Analysts predict Iran could boost its oil exports by 1 million to 1.5 million barrels per day, or up to 1.5 percent of global supply, in six months, following international efforts to revive the 2015 nuclear deal.

Global oil price fall below $100 as recession fears linger

Investors sold oil positions on worries that aggressive interest rate hikes to stem inflation will sharply slow economic activity and hit oil demand.

What to expect from Biden’s inaugural Middle East trip

A hydrocarbon-fueled political crisis at home is mainly driving the US president’s upcoming visit to the region.

US hails Saudi leadership over Yemen truce extension

White House praises King Salman and Crown Prince Mohammed bin Salman for their roles in the ceasefire extension in Yemen's war, ahead of President Biden's expected visit to Riyadh.

Saudi Aramco’s profit soars as oil prices surge

The state-owned oil producer, which is at par with Apple as the world's most valuable company, reported an almost 82 percent rise in the first-quarter net profit.

BP posts $20B quarterly net loss on Russia exit

The company was pushed into a headline loss of $20.4 billion in the quarter following its decision in February to pull its 19.75-percent stake in Russian energy group Rosneft.

Oil prices rise on concerns over supply from Russia, Libya

Analysts say market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for the country's military operation in Ukraine.

Biden weighs massive release of oil to combat inflation

US President Joe Biden is planning to order the release of up to 1 million barrels of oil per day to control spiked energy prices, AP news agency reports.

Could China benefit from the Ukraine crisis?

Beijing will make some gains from the conflict as its sanctions-hit ally Russia will need China for goods and equipment more than ever.

Oil rockets, gold tops $2,000 as Ukraine war hits global economy

Sanctions on Russia have already rattled through international markets, hitting European equities in particular.

'Not our war': Gulf countries resist Western pressure to raise oil output

Oil-rich Gulf countries, which suffered from declines in oil prices since 2014, experts say, seem all the more reluctant to take immediate action as they benefit from the short-term price surge.

Markets tumble, oil prices rise on Ukraine conflict fears

After sharp Wall Street losses on Friday, the dip continued in Asia at the start of the week while oil prices closed in on the $100-a-barrel mark on fears over the Russian invasion of Ukraine.