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File photo: Ukrainian President Zelenskyy (Picture credit: AP) Ukrainian President Volodymyr Zelenskyy on Friday said a US decision to temporarily ease sanctions on Russian oil sales could hand Moscow about $10 billion in extra revenue, warning the move would directly undermine efforts to end the war in Ukraine.“This one concession alone by the United States…
As the war between the United States, Israel and Iran is nearing third week, the global oil market has become one of the biggest casualties of the conflict.Missile strikes across the Gulf and drone attacks on energy infrastructure have pushed crude prices sharply higher, forcing Washington into a geopolitical pivot that seemed impossible just months…
US President Donald Trump has long boasted about keeping gasoline prices low in the United States during his tenure. Last month, during his State of the Union address, he highlighted falling petrol prices as a sign of the country’s economic strength.That stance now appears to be shifting. Earlier this week, Trump struck a more positive…
NEW DELHI: US envoy to India Sergio Gor on Friday expressed concern over rising tensions at the Strait of Hormuz, asserting that India is “vital partner” for the United States in helping keep global oil prices stable as the Middle East conflict intensifies.Speaking at the India Today Conclave, Gor said, “Today we’re in a situation…
India’s manufacturing sector is on high alert as the war involving Iran threatens to disrupt key maritime routes used for global trade. (AI image) US-Iran war impact: The ripple effects of the ongoing Middle East tensions, LPG supply issues, rising oil prices and closure of Strait of Hormuz are being felt across industries in India….
As tensions in the Middle East continue to boil, the ripple effects are being felt across global oil markets. Disruptions around the Strait of Hormuz, one of the world’s most vital oil transit routes, have thrown supply chains into uncertainty, prompting governments and refiners worldwide to rush in search of alternatives. The International Energy Agency…
A temporary waiver issued by the United States has opened the door for buyers to purchase Russian oil cargoes that are already at sea, placing nearly 30 tankers in Asian waters back in the market. According to ship-tracking data compiled by Bloomberg, these vessels together are carrying at least 19 million barrels of Russian crude…
Stock market today (AI image) Stock market today: Continuing the down trend, Nifty50 and BSE Sensex opened in red on Friday as oil prices climbed and the Strait of Hormuz closure halted important global trade. While Nifty50 went below 23,500, BSE Sensex was down over 580 points. At 9:17 AM, Nifty50 was trading at 23,461.40,…
Russia said on Friday that the global energy market “cannot remain stable” without its oil after the United States temporarily allowed the sale of Russian crude already in transit, a move that came as energy prices surged amid the escalating war involving Iran, Israel and the US.Russia’s economic envoy Kirill Dmitriev said the US decision…
The Middle East crisis impact has continued to spill across global oil supply chains, once again pushing crude prices beyond the $100 mark. Brent crude, the global oil benchmark, rose slightly after moving past $100 a barrel on Thursday (local time), gaining 0.20% to trade at $100.66 by 0020 GMT. Meanwhile, US benchmark West Texas…
