A big intervention is being discussed in the oil markets, but as yet, we do not know how big the problem will be. Source link

Energy Minister Saad al-Kaabi says oil could hit $150 a barrel if the Iran conflict continues over the coming weeks. Source link

The conflict in the Middle East has rattled financial markets and global energy prices have soared. Source link

Global oil prices spike after Iran launched strikes across the Middle East in response to attacks by the US and Israel. Source link

International shipping is said to have come to a standstill at the strait's entrance, with fears of disruption already pushing up global oil prices. Source link

During the Chávez presidency, Venezuela reclassified its reserves. Previously, there were thought to be just 80 billion barrels of extractable oil, but by 2011, its reported figure had nearly ...

The US has announced the seizure of two oil tankers: the Marinera formerly known as the Bella 1 in the North Atlantic and the Sophia in international waters near ...

The US will control sales of sanctioned Venezuelan oil "indefinitely" as it prepares to roll back restrictions on the country's crude in global markets, the White House said.Officials said ...

Russia has deployed navy assets to escort an oil tanker also being pursued by US forces across the Atlantic, CBS News, BBC's media partner in the US, reported.The ship, ...

Archie Mitchell,Business reporterandNatalie Sherman,Business reporterReutersDonald Trump has vowed to tap into Venezuela's oil reserves after seizing President Nicolás Maduro and saying the US will "run" the country until a ...

PetrofacPetrofac employs around 2,000 people in Aberdeen Thousands of jobs are set to be saved after part of energy services firm Petrofac was bought out of administration. American company ...

The US Coast Guard is in "active pursuit" of another vessel in international waters near Venezuela as tensions in the region continue to escalate.US authorities have already seized two ...