Category: Uncategorized

Oil falls 6pc

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opec

HOUSTON: Oil prices tumbled $5 a barrel, or over 6%, on Monday after Iran attacked a US military base in Qatar in retaliation for US attacks on its nuclear facilities at the weekend, and took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz. Brent crude futures were down $4.90, or 6.3%, at $72.19 a barrel by 2:13 p.m. ET (1813 GMT). US West Texas Intermediate crude (WTI) eased $4.60, or 6.2%, to $69.23. Global benchmark Brent had kicked off the week with nearly 6%…

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Oil prices fall 5% as Israel-Iran ceasefire reduces Middle East supply risk

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oil

NEW YORK: Oil prices fell about 5% to a two-week low on Tuesday on expectations the ceasefire between Israel and Iran will reduce the risk of oil supply disruptions in the Middle East. That ceasefire, however, was on shaky ground with U.S. President Donald Trump accusing both Israel and Iran of violating it just hours after it was announced. Brent crude futures fell $3.29, or 4.6%, to $68.19 a barrel at 10:43 EDT (1443 GMT), while U.S. West Texas Intermediate (WTI) crude fell $3.20, or 4.7%, to $65.31. That put…

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Pakistan Showcases Mining Sector Reforms at St. Petersburg International Economic Forum, Attracts Global Investor Interest

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Pervaiz-Malik

Federal Minister for Petroleum,Ali Pervaiz Malik, presented the country’s transformative mining sector reforms during a high-level panel discussion titled “The Responsibility of World Leaders for Mineral Reserves and Production for the Sustainable Development of Global Economy” at the St. Petersburg International Economic Forum (SPIEF) 2025. The minister highlighted Pakistan’s recently launched Mining Framework Policy and the completion of Feasibility Study of Reko Diq Mine as key milestones in creating an investor-friendly environment for sustainable mineral development. He underscored the success of Pakistan Minerals Investment Forum that took place in Islamabad…

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Qatar hikes June term price for al-Shaheen oil to 1-year high, sources say

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qatar energy

SINGAPORE: QatarEnergy has raised the June term price for al-Shaheen crude oil to its highest premium in a year, according to three trade sources. The premium for June-loading al-Shaheen crude rose to $2.48 a barrel above Dubai quotes. The producer sold all five cargoes to TotalEnergies. Qatar cuts May term price for al-Shaheen oil, sources say The jump in premiums followed increases in Middle East crude benchmarks Dubai and Oman as fighting broke out between Israel and Iran last week, raising concerns of supply disruptions in the key producing region.…

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Nigeria to export first gasoline cargo to Asia from Dangote refinery, source says

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gasoline export

A 90,000 metric ton cargo of gasoline from Nigeria’s Dangote refinery will be sold out of the region for the first time and bound for Asia, a source familiar with the matter. Since the 650,000 barrel-per-day refinery started gasoline exports last year, the cargoes have stayed in west Africa. Mercuria is due to load the cargo on June 22, the source close to the deal said, speaking on condition on anonymity. A spokesperson for Mercuria did not immediately respond to a Reuters request for comment. “We sell our products to those who…

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