By Julian Lee, Serene Cheong and Alex Longley (Bloomberg) — The most aggressive Western sanctions imposed on Russia’s oil sector since Moscow’s 2022 invasion of Ukraine threaten to disrupt global supply as buyers — led by China and India — scour the Middle East for alternative suppliers. Some estimates suggest the measures could halve Russian oil exports […]
Continue ReadingThe two nations, both under immense pressure, are together pushing to create a fairer world The relationship between Russia and Iran is deeply rooted in history, dating back to the 16th century when the two nations first established contact. Despite periods of tension, pragmatism has always been at the core of their interactions. Historically, Russia […]
Continue ReadingThe U.S. recently announced sanctions on Russian oil producers, along with vessels that have been shipping barrels of Russian crude. India will be hit the hardest by the sanctions, more so than China which has also been snapping up Moscow’s cheap oil, said analysts. The South Asian nation imports a significant 88% of its oil […]
Continue ReadingPrices have hit a five-and-a-half-month high amid fears of disruptions to supply, according to the outlet Global diesel prices and refining margins have surged following the latest round of US sanctions targeting Russia’s oil trade, driven by traders’ expectations of reduced diesel and crude supply, Reuters reported on Friday, citing analysts and London Stock Exchange […]
Continue ReadingFuel shipments have hit an 11-month high driven by diesel and fuel oil, the outlet has said Russia’s refined fuel exports have surged to their highest level in nearly a year, even as the US imposed new sanctions on the country’s energy sector last week, Bloomberg reported on Thursday. Seaborne shipments of Russian petroleum […]
Continue ReadingThe US President-elect’s advisers are reportedly considering easing restrictions on Russian energy depending on how Ukraine peace talks go Advisers to US President-elect Donald Trump are developing a strategy to push Russia-Ukraine peace talks which could involve easing sanctions on Moscow, Bloomberg reported on Thursday, citing sources familiar with Trump’s plans. Last week, incumbent US President Joe […]
Continue ReadingThe International Energy Agency had earlier warned that US restrictions could disrupt global supply chains Global oil prices soared on Wednesday after the US announced a new sanctions package targeting the Russian oil sector. The rally has also been supported by a drawdown in US crude stockpiles. According to market data, Brent crude futures rose […]
Continue ReadingDeliveries of newbuild product tankers will reach their highest level since 2009 this year, according to international shipping organisation BIMCO. The 2025 will see about 12m dwt delivered, up 256% compared to last year’s deliveries, and the second highest on record, chief shipping analyst at BIMCO Niels Rasmussen noted. The increase follows a surge in […]
Continue ReadingIsrael and Hamas have agreed on a Gaza ceasefire and hostage release deal following 15 months of war with the shipping industry now looking towards the Houthis of Yemen to see if they will stop targeting merchant ships and bring an end to the Red Sea shipping crisis. The six-week phase one of the ceasefire […]
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Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory dip of 2 million barrels for the second week of the year. The change estimated by the EIA compared with a modest draw of around 1 million barrels for the previous week, which also saw sizable builds in fuel inventories that dragged oil prices […]
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