Oil and Gas
BP offloads German refinery to Klesch, boosts cost savings target
BP said on Thursday it would sell its German oil refinery site in Gelsenkirchen to investment firm Klesch Group for an undisclosed sum and raised its cost reduction target, in the latest move to simplify its portfolio and shore up its balance sheet. The transaction forms part of the British oil major’s $20 billion divestment […]
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Gulf airlines are burning through serious cash as airport, safety picture stays patchy: Analyst
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Aviation analyst Alex Macheras says disruption in the Gulf has far-reaching financial implications as the region handles 10% of global international passengers. He discusses how airports in Doha, Dubai and Abu Dhabi collectively handle up to 500,000 passengers daily at peak seasons […]
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Australia says fuel supply levels stable, PM urges residents to avoid panic buying
Anthony Albanese, Australia’s prime minister, during an address at the National Press Club in Canberra, Australia, on Tuesday, June 10, 2025. Bloomberg | Bloomberg | Getty Images Prime Minister Anthony Albanese on Thursday urged Australians to avoid panic buying of petrol and diesel, which he said had led to shortages in some rural regions, and stressed the nation’s fuel supply levels remained stable. Australia is dependent […]
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Investors rip up European boom bets as stagflation fears soar on Iran war oil shock
The Iran war is hammering market sentiment in Europe, and investors are increasingly gloomy about the prospects for the continent’s growth, according to Bank of America ‘s latest survey of European fund managers. They’re slashing exposure to eurozone-area stocks amid fears of flatlining growth and a stagflation shock resulting from the ongoing conflict , per […]
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Iran conflict looms large over Takaichi’s upcoming summit with Trump, experts say
U.S. President Donald Trump (L) and Japanese Prime Minister Sanae Takaichi (R) hold up signed documents for a critical minerals/rare earth deal with Japan during a meeting at Akasaka Palace on October 28, 2025 in Tokyo, Japan. Trump is on a visit to Asia that takes in the ASEAN summit in Malaysia, followed by a […]
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Iran targets UAE energy infrastructure as gas field set ablaze, tanker struck near Strait of Hormuz
Naval units from Iran and Russia carry out to simulation of rescue a hijacked vessel during the joint naval drills held at the Port of Bandar Abbas near the Strait of Hormuz in Hormozgan, Iran on February 19, 2026. Anadolu | Anadolu | Getty Images A fresh wave of attacks on the United Arab Emirates’ […]
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Oil jumps over 3% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
Oil prices headed for weekly gains as of Friday, despite the U.S. issuing a 30-day license for countries to buy Russian oil and petroleum products at sea. Bloomberg Creative Photos | Bloomberg Creative Photos | Getty Images Oil prices jumped more than 3% on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping […]
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Bessent says Treasury is not intervening in oil commodities markets and has no authority to do so
Treasury Secretary Scott Bessent said Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted. In a CNBC interview, Bessent addressed rumors that the Treasury Department or some other arm of government might step in to try to lower oil […]
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Oil’s war-driven volatility pulls in record retail money, fueling ‘meme-style’ trading
The Iran war news flow-driven oil moves are drawing retail investors into the world’s most traded commodity, further fueling volatility. Small investors have poured record sums into oil-linked exchange-traded funds in recent weeks as prices have whipsawed amid the Middle East conflict and fears of extended disruptions to crude flows through the Strait of Hormuz. […]
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Why traders are getting nervous about Iran’s $200 oil warning as the conflict drags on
Energy analysts and traders said Monday that they wouldn’t be surprised if oil prices climb to as high as $200 per barrel as the sprawling Middle East crisis drags on. It comes as the U.S. and Israeli-led war on Iran continues to disrupt oil production and shipping in the region , with traffic through the […]
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