Middle East
Why oil prices haven’t skyrocketed on Middle East supply fears — yet
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Fatemeh Bahrami | Anadolu | Getty Images Oil prices have jumped more than $5 a barrel since the […]
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Satellite imagery shows Iranian oil tankers at country’s major terminal disappearing amid fears of Israeli counterattack
A general view of the Port of Kharg Island Oil Terminal in Iran on March 12, 2017. Fatemeh Bahrami | Anadolu Agency | Getty Images Satellite imagery revealed a number of oil tankers vacating the waters around Iran’s key Kharg Island oil loading terminal, amid fears of an Israeli counterattack on Tehran’s energy infrastructure. “The […]
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Oil market faces a rude awakening if Iran’s energy infrastructure is targeted, analysts say
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Anadolu | Anadolu | Getty Images Oil markets are being too complacent given the risk of major supply disruptions in the Middle East, […]
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As Netanyahu vows Iran payback, markets watch for dangers of further escalation
Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, Israel, October 1, 2024 Amir Cohen | Reuters Israel’s government has vowed a severe response to Iran’s unprecedented missile barrage into Tel Aviv, leaving the Middle East on edge as fears rise over a possible all-out war between the two long-time foes. On Tuesday […]
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Saudi Arabia slashes growth forecasts, sees wider budget deficits
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, looking ahead to a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic […]
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Iran’s response to Israel will be a choice between revenge and survival. Markets say it’s choosing survival
Iran’s Supreme Leader Ayatollah Ali Khamenei waves before voting in the country’s presidential election, in Tehran, Iran July 5, 2024. Office Of The Iranian Supreme Le | Via Reuters Iran’s powerful proxy network across the Middle East is being dealt blow after blow from Israel, which has dramatically escalated fighting with Lebanese militia group Hezbollah […]
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Israel pounds Lebanon, pressuring Hezbollah after killing its leader
Smoke rises from Israeli airstrike locations on September 29, 2024 in the southern suburbs of Beirut, Lebanon. Daniel Carde | Getty Images News | Getty Images Israel struck multiple targets in Lebanon on Sunday, pressing Iran-backed Hezbollah with more attacks after it struck a huge blow by killing the group’s leader Sayyed Hassan Nasrallah. The […]
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Israel strikes Beirut suburb, Nasrallah’s fate unclear after Friday’s massive attack
Residents check the damaged in the aftermath of overnight Israeli bombardment in Beirut’s southern suburbs, on September 28, 2024. Anwar Amro | Afp | Getty Images Israel launched airstrikes on Beirut’s southern suburbs and other areas of Lebanon on Saturday, a day after carrying out a massive attack on Hezbollah’s headquarters that appeared to be […]
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Israel says it struck Hezbollah’s headquarters as huge explosions rocked Beirut
Smoke rises from Israeli airstrikes in Beirut, seen from Baabda, Friday, Sept. 27, 2024. AP The Israeli military said Friday it carried out an airstrike on the central headquarters of Hezbollah in Beirut, where a massive explosion leveled buildings in a southern district, sending clouds of orange and black smoke billowing in the skies. The […]
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OPEC is highly bullish on long-term oil demand growth. Not everyone agrees
The sun sets beyond crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia, on Monday, Oct. 1, 2018. Bloomberg | Bloomberg | Getty Images Global benchmark Brent crude falling below $70 a barrel in early September — its lowest in […]
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