Oil prices surged nearly 10% on Monday as renewed U.S.-Iran conflict focused attention on the Strait of Hormuz. Brent crude futures for September delivery gained $7.29, or 9.6%, to settle at $83.30 a barrel. U.S....
Tag : energy markets
Gulf Mercantile Exchange recorded the highest weekly trading volume in its history during the week of May 11, 2026, with more than 69,052 contracts traded, equal to about 69 million barrels of Oman crude oil,...
MANAMA: Bahrain and the United Kingdom said after meetings in Manama that they had reviewed regional and international developments, with both sides emphasizing the security and economic fallout from the current crisis and the need to support...
Oil prices continued their upward trend, settling above $72 per barrel amid ongoing supply uncertainty and a weak dollar, which made dollar-denominated commodities more attractive to investors. The rise marked the third consecutive session of gains...
BP, one of the world’s leading energy companies, announced on Thursday a significant workforce reduction as part of a broader cost-saving initiative. The British oil giant revealed that approximately 4,700 jobs will be cut this...
Oil prices edged higher on Wednesday, buoyed by a drop in U.S. crude inventories and an anticipated interest rate cut by the U.S. Federal Reserve. However, gains were tempered by the Fed's projection of a...