Türkiye to use emergency oil reserves
Turkish authorities have decided to use their emergency oil reserves to slow the rapid rise in energy prices associated with the Strait of Hormuz' blockade.
oil prices
Oil price jumps once again
Brent briefly jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs.
Oil market experiencing largest supply disruption in global history - IEA
The Middle East conflict has triggered the largest oil supply disruption in global history, the International Energy Agency (IEA) said on Thursday.
G7 not to lift sanctions against Russia
Leaders of G7 countries have agreed to keep in place sanctions against Russia despite problems with supplies of oil products and other goods over the conflict in the Middle East, French President Emmanuel Macron said.
US may take some oil sanctions off
U.S. President Donald Trump announced that Washington will lift oil sanctions on some countries and may even refrain from reinstating those.
US President doesn't rule out possibility of seizing Iranian oil
U.S. President Donald Trump left open the prospect of acquiring Iranian oil.
Hungary proposes EU lift anti-Russia sanctions due to Iran war
The EU should immediately lift the ban on the use of Russian oil and gas in all EU countries to prevent a shortage of energy and a sharp increase in prices due to the Middle Eastern tensions, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said following urgent meetings of the defense and energy security councils convened by Prime Minister Viktor Orban.
US concerned over Israeli strikes on Iranian fuel depots
The United States is dismayed by the scale of Israeli airstrikes on Iranian fuel depots over the weekend, marking the first notable disagreement between the two allies since the start of the war, Axios reported, citing sources.
Oil surges past 100 dollars per barrel and nears 120 dollars
The price of Brent crude oil for May 2026 delivery exceeded $119 per barrel on London's ICE Exchange for the first time since June 17, 2022, according to trading data.
Oil prices rise as Iran conflict widens
The price of futures contracts of Brent crude oil for May 2026 delivery on London’s ICE was up by 3.5% early on Thursday, according to trade data.
Oil prices extend gains as Hormuz tensions escalate
Oil prices maintained their upward trajectory on Wednesday as escalating tensions in the Middle East heightened supply concerns over disrupted shipments through the Strait of Hormuz and exports in the region.
Trump acknowledges spike in oil prices, promises drop
U.S. President Donald Trump acknowledged the economic toll that the U.S. and Israeli war on Iran is having on oil prices, but promised they will drop after the conflict ends.
Oil and precious metal prices rising
The price of Brent crude oil on the ICE exchange rose 12.2% at the start of the trading week amid Middle East escalation, trading data has shown.
Oil prices soar on fears of escalation of Iran conflict
Oil prices edged up on Thursday morning as investors worried about escalating tensions between the U.S. and Iran, and fears that any attacks on Tehran or shipping could lead to supply disruptions.
US may lift sanctions on Russian oil
The U.S. Department of the Treasury sanctions on Russian oil will be lifted if the Ukrainian crisis is resolved peacefully, which will contribute to a reduction in global energy prices, U.S. Treasury Secretary Scott Bessent said.
Novak notes high volatility on oil market amid Iran situation
The OPEC+ nations have noted the high oil market volatility amid the geopolitical tensions stemming from the development around Venezuela and Iran, Russian Deputy Prime Minister Alexander Novak said.
Russian oil price cap lowered
Europe has lowered the price ceiling for Russian oil from $60 to $44.1 per barrel. This marks the first use of the price adjustment mechanism since its introduction as part of sanctions.
EU to lower price cap on Russian oil to $44.1 per barrel
The EU will lower its price cap on Russian crude oil to $44.1 per barrel, with the new rate taking effect on February 1, 2026.
Price of Azeri Light crude oil rises over 4% on global market
The price of Azerbaijan's Azeri Light crude oil has increased by more than 4%, reaching $68 per barrel.
Azerbaijani oil rises above $65 per barrel in Italy
Azerbaijani Azeri Light crude rose today, following the rise in the Brent price
