LONDON/NEW YORK: The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of US light crude to benchmark Brent in just a month, as surging US production upends the market. Trading desks of…
TOKYO: Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day. Brent crude added 55 cents, or 0.7 per…
ISTANBUL: Saudi Arabia said on Monday it was "not unthinkable" that the price of crude oil could surge to $60 a barrel by the end of the year but warned against drastic production cuts that might shock markets. Speaking in the opening…
ISLAMABAD: The ministries of Finance and Petroleum opposed a recommendation to reduce the price of petroleum products by as much as Rs. 5.45.
WASHINGTON: The U.S.-led coalition fighting Islamic State conducted 11 air strikes in Iraq and three in Syria on Monday, according to the task force organizing the operation.
SINGAPORE: Oil fell in Asian trade on Friday after major producer Saudi Arabia slashed the price of the crude it sells to Asia and the United States, analysts said.