Shipping traffic through the Strait of Hormuz has fallen to its lowest level in more than two months after a sharp increase in tanker attacks raised fresh concerns about the safety of the strategic energy corridor. Vessel Traffic Drops Sharply Data from shipping analytics firm Kpler showed that only seven commodity vessels passed through the […]
Brent Crude Extends Rally as Middle East Tensions Persist Markets Monitor U.S.-Iran Conflict for Supply Risks Oil prices continued to rise today, with Brent crude gaining $1 to trade at $92.01 a barrel, while U.S. West Texas Intermediate (WTI) increased 82 cents to $85.16 a barrel. The gains followed yesterday’s strong rally, when both benchmark […]
A fire broke out at a unit of the Afipsky oil refinery in southern Russia’s Krasnodar region following a drone attack attributed to Ukraine, local authorities reported on Thursday. The extent of the damage at the facility remains unclear, as emergency crews continue to assess the situation. The refinery is one of the region’s key […]