Global crude oil prices rose sharply by 5.9 per cent over the past month crossing the $86 per barrel mark for the first time since November 2023 –responding to seasonal tightening in physical markets, supply cut extensions, and a pick-up in geopolitical tensions. According to a report by ICICI BankRead More →
Ships will have to obtain a permit from Yemen’s Houthi-controlled waters, Houthi minister said. Cairo: Ships will have to obtain a permit from Yemen’s Houthi-controlled Maritime Affairs Authority before entering Yemeni waters, Houthi Telecommunications Minister Misfer Al-Numair said on Monday. Houthi militants have repeatedly launched drones and missiles against internationalRead More →
Brent crude futures rose 45 cents to $79.04 a barrel, while US West Texas Intermediate crude climbed 48 cents to $73.78, according to news agency Reuters. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a February 16 expiry, was last trading 0.62 per cent higherRead More →
The Iran-aligned Houthi militants have launched missiles at commercial vessels since November 19. Sanaa: Yemen’s Houthis on Thursday said their naval forces targeted an unidentified British merchant vessel in the Red Sea in the group’s campaign to disrupt shipping to protest Israel’s bombardment of Gaza. Earlier on Thursday, the UnitedRead More →
March Brent crude futures, which are due to expire on Wednesday, fell 52 cents, or 0.6 per cent, to $81.88 a barrel. The more active April contract was down 50 cents, or 0.6 per cent, at $81.33. US West Texas Intermediate crude lost 29 cents, or 0.4 per cent, toRead More →
Brent crude futures rose $1.12, or 1.4 per cent, to settle at $83.55 a barrel, their highest close since November 30. US West Texas Intermediate crude (WTI) climbed 65 cents or 0.8 per cent to $78.01, also the highest close since November. Both oil benchmarks made weekly gains of moreRead More →
Oil prices rose on Thursday, January 25, after data showed US crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen’s coast underscored the peril facing trade in a key global transit route. Europe policymakers only see price growth returning toRead More →
Brent crude futures fell 82 cents, or 1.1 per cent, to $77.47 a barrel. US West Texas Intermediate crude futures (WTI) were down 51 cents, or 0.7 per cent, at $71.89, according to news agency Reuters. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for aRead More →
The White House official said that the US not looking to expand this war against Houthis. Washington: The U.S. is not looking for a war with the Houthis, the White House said on Tuesday. “We’re not looking to expand this. The Houthis have a choice to make and they stillRead More →
The Houthis have carried out a growing number of attacks on Red Sea shipping since the Gaza war erupted. Sanaa: The leader of Yemen’s Iran-backed Houthi rebels threatened on Thursday the United States and Britain with even larger attacks in the Red Sea after their navies intercepted a major one.Read More →
