Oil prices reversed course to settle higher on Friday, with crude posting a second consecutive weekly gain amid uncertainty over the reopening of the Strait of Hormuz after US President Donald Trump threatened economic sanctions against Iran and its trading partners. Iran, meanwhile, warned on Friday that its response to any new US threats would
Oil prices rise, boosts weekly gains to over 6% Read More »
Global electric vehicle sales have surged this year following the oil supply disruption in the Middle East and the second oil price shock in four years. The accelerating EV adoption that began with the spike in oil and fuel prices earlier this year is set to remain a trend in the global markets and could
Hormuz oil crisis accelerates global EV sales Read More »
The Inter-American Development Bank (IDB) says the outlook for Guyana is still highly uncertain, given persistent geopolitical tensions that continue to push up international oil prices. “Although Guyana transitioned to become a net oil exporter in 2019, the country still produces 90 per cent of its energy from imported oil. As a result, electricity and
IDB says persistent geopolitical tensions affecting Guyana’s outlook Read More »
By Julianne Geiger – Aug 20, 2026, 4:30 PM CDT Washington is tightening the screws on Iran and loosening the rules on gasoline at the same time as Americans are paying more than $4 a gallon. The Environmental Protection Agency on Thursday authorized an early switch to cheaper winter-grade gasoline, allowing sales of gasoline blended
Washington Eases Gasoline Rules as Iran Pressure Campaign Jolts Fuel Costs Read More »
Oil prices rose after Trump threatened “ECONOMIC D-DAY,” then again after Bessent vowed to “collapse” Iran’s government. Treasury Secretary Scott Bessent speaks to members of the press outside the West Wing at the White House on August 20, 2026 in Washington, D.C. Alex Wong / Getty Images Did you know that Truthout is a nonprofit
Bessent Says He Doesn’t “Understand” Oil Price Spike After Trump War Escalation Read More »
Prime Minister Shehbaz Sharif has said the federal government provided Rs. 128 billion in relief to protect the public from the impact of rising fuel prices and inflation. The amount was used to reduce pressure on consumers during the period of sharp increases in global oil prices. He made the statement while addressing a federal
Govt Approves Rs. 128 Billion for Public Relief, PM Shehbaz Sharif Read More »
LONDON — Oil prices climbed to three-week highs on Thursday (Aug 20), driven by concerns that the impasse in the Iran war will continue to disrupt supply from the key Middle Eastern producing region. Brent crude futures for October delivery rose US$1.20 (S$1.53), or 1.3 per cent, to US$92.82 a barrel by 8.13am GMT (4.13pm
Oil hits 3-week high on Middle East supply concerns amid war impasse, Money News Read More »
BANGKOK — Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline. South Korea’s Kospi led the regional retreat, dropping 5.7% to 6,487.34. The two biggest companies benefiting from the AI boom tracked losses for their U.S. rivals. Samsung Electronics shed 7.5%, while memory chipmaker
Shares fall in Asia, with Kospi down 5.7%, while oil prices jump Read More »
Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As
Oil majors reap $93 billion windfall from the Iran war Read More »
By Irina Slav – Aug 17, 2026, 6:00 PM CDT U.S. shale producers are cutting spending, prioritizing debt reduction and shareholder returns despite higher oil prices. Production growth is slowing, with the EIA expecting output to rise just 200,000 bpd in 2026. With spending plans what they are, the rig addition rate may change. U.S.
U.S. Shale Majors Cut Spending Despite Higher Oil Prices Read More »
