With attacks shifting decisively toward critical oil and gas infrastructure across the Gulf, the Iran war has entered a dangerous new phase, one that is already reverberating through global energy markets and military calculations. To this end, oil prices surged sharply yesterday, with Brent crude briefly climbing above $119 per …
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Energy experts and downstream operators have warned that Nigeria may witness a fresh increase in petrol and diesel prices if global crude oil prices surge above $90 per barrel amid escalating tensions between the United States and Iran. The warning comes as hostilities in the Middle East triggered fresh volatility …
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The American Petroleum Institute (API) reported a large crude oil inventory draw of 7.55 million barrels for the week ending June 20, but still coming in over analyst expectations of a much bigger 2.891-million barrel drawdown in inventories. Last week, the API reported a draw of 812,000 barrels. A day later, the EIA …
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The American Petroleum Institute (API) reported a small draw in crude oil inventory of 812,000 barrels for the week ending June 13, but still coming in over analyst expectations of a much bigger 2.033-million barrel drawdown in inventories. Last week, the API reported a surprise build of 4.852 million barrels. A day later, …
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Oil prices rose on Thursday lifted by a sustained decline in inventories and Saudi Arabia’s preparedness to cut crude supplies to its prized Asian customers. Brent crude futures were 52.99 dollars a barrel by 0855 GMT, while US West Texas Intermediate crude was up 17 cents at 49.73 dollars. Crude …
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