Tag Archives: oil


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Saudi Arabia blames Iran for oil tanker attacks

06 June, 2019 10:24 am 10:24 am

RIYADH (Reuters) – Saudi Arabia’s crown prince blamed Iran for attacks on two oil tankers in the Gulf of Oman and called on the international community to take a “decisive stand” but said in an interview published on Sunday that the kingdom does not want a war in the region. Attacks on two oil tankers … Read More



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Global stocks dip as Fed meeting looms, oil climbs on geopolitical fears

06 June, 2019 8:31 am 8:31 am

NEW YORK (Reuters) – US stocks ended nominally lower as investors awaited next week’s Federal Reserve meeting for signs of imminent easing, while the US-Iran confrontation in the Gulf of Oman added to geopolitical uncertainty, sending oil prices higher. Lingering worries over the US-China trade war also weighed on investor sentiment. Weak China data and … Read More



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Asia shares dazed by trade uncertainty, US jobs risks

06 June, 2019 9:06 am 9:06 am

SYDNEY (Reuters) – Asian share markets dithered as investors waited for concrete signs of progress in the US-Mexican trade standoff, while bracing for a US jobs report that could sway the course of interest rates there. MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.04% higher and looked set for another cautious session being … Read More



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Oil prices extend gains, move further away from five-month lows

06 June, 2019 8:29 am 8:29 am

TOKYO (Reuters) – Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts. Brent crude futures were up 50 cents, or 0.8%, at … Read More



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Asia markets cautious as Trump presses Mexico on trade

06 June, 2019 8:30 am 8:30 am

SYDNEY (Reuters) – Asian shares got off to a hesitant start on Thursday as investors feared a looming US trade war with Mexico would further depress global growth, even as they wagered central banks would have to respond with fresh stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.01% in sparse early trade. … Read More



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Oil prices extend drops as trade wars fan fears in financial markets

06 June, 2019 10:36 am 10:36 am

SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. Front-month Brent crude futures were at $61.12 at 0444 GMT. That … Read More



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Saudia to provide oil worth $3.2bn on credit to Pakistan: Dr Hafeez

05 May, 2019 9:16 pm 9:16 pm

ISLAMABAD (92 News) – Adviser of Prime Minister on Finance Dr Abdul Hafeez Shaikh said on Wednesday that Saudi Arabia will provide oil worth $3.2bn worth on credit to Pakistan every year. According to the details, Saudi Arabia has agreed to extend helping hand to Pakistan in difficult economic situation and good news surfaced. Abdul … Read More



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No oil, gas reservoir found from sea after drilling: sources

05 May, 2019 8:09 pm 8:09 pm

ISLAMABAD (92 News) – No reservoir of oil and gas was found from the sea after drilling, revealed sources. They said that the testing process had been completed after the drilling. “No reservoir of oil and gas could be found from sea,” they disclosed. The sources said that Prime Minister Imran Khan had been informed … Read More



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Saudi Arabia accuses Iran of ordering drone attack on oil pipeline

05 May, 2019 11:04 pm 11:04 pm

RIYADH (Reuters) – Saudi Arabia’s deputy defence minister on Thursday accused Iran of ordering an attack on Saudi oil pumping stations that Yemen’s Houthi militia has claimed responsibility for. The attack “proves that these militias are merely a tool that Iran’s regime uses to implement its expansionist agenda,” tweeted Prince Khalid bin Salman, a son … Read More



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Pakistan denounces drone attacks on oil pumping stations in Saudi Arabia

05 May, 2019 9:41 pm 9:41 pm

ISLAMABAD (92 News) – Pakistan on Wednesday condemned the drone attacks on oil pumping stations in eastern province of Saudi Arabia on Tuesday. In a statement, the Foreign Office (FO) said that Pakistan expressed its solidarity with Saudi Arabia and reiterated its full support against any threat to stability and security of the Kingdom of … Read More



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Saudi Arabia says oil facilities outside Riyadh attacked

05 May, 2019 11:24 pm 11:24 pm

RIYADH/DUBAI (Reuters) – Saudi Arabia said armed drones had struck two oil pumping stations in the kingdom on Tuesday in what it called a “cowardly” act of terrorism two days after Saudi oil tankers were sabotaged off the coast of the United Arab Emirates. The energy minister of the world’s largest oil exporter said the … Read More



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Saudi Arabia says its oil tankers among those hit off UAE coast

05 May, 2019 9:14 pm 9:14 pm

DUBAI/LONDON (Reuters) – Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions between the United States and Iran. The UAE said on Sunday that four commercial … Read More



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Iran rolls back nuclear pledges but stops short of violating pact

05 May, 2019 6:32 pm 6:32 pm

LONDON (Reuters) – Iran announced on Wednesday it was scaling back curbs to its nuclear programme, announcing steps that stop short of violating its 2015 deal with world powers for now, but threatening more action if countries did not shield it from US sanctions. A year to the day after Washington pulled out of the … Read More



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US prepares to end Iran oil waivers; Asian buyers to be hardest hit

04 April, 2019 6:06 pm 6:06 pm

WASHINGTON/SINGAPORE (Reuters) – The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 per cent jump in crude prices to their highest for 2019 so far. Officials in Asia opposed the expected … Read More



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Oil hits 2019 high on US plan to tighten squeeze on Iran

04 April, 2019 2:33 pm 2:33 pm

LONDON (Reuters) – Oil topped $74 a barrel on Monday, the highest since November, with the United States set to announce a further clampdown on Iranian oil exports, tightening global supplies. The United States is expected to say later on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a … Read More



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