CAIRO, March 26 — The Suez Canal stepped up efforts on Friday to free a stuck mega vessel, after an earlier attempt failed to end a blockage that has lifted shipping rates for fuel tankers and disrupted global supply chains …
NEW YORK — Oil prices inched lower on Friday as Hurricane Laura passed the heart of the U.S. oil industry in Louisiana and Texas without causing any widespread damage and companies were beginning to restart operations. Brent crude futures for …
Oil pared an earlier decline on contradicting reports about when Saudi Arabia will restore production lost in unprecedented attacks. A Financial Times report citing unidentified Saudi sources contradicted an earlier article from Reuters that the kingdom is close to restoring …
Seizures of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a …
The cost of insuring tankers to ship Middle East crude looks set to jump after a second spate of attacks on vessels in the region in just over a month underscored escalating tensions in the oil-exporting region. A so-called “additional …