Read the latest news from regional and global sources, presenting different voices and perspectives.
Russell: What is not happening in Middle East crude oil supply matters more.
World Energy News - Connecticut
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It can be useful to consider what isn't happening in the Middle East when tensions are rising. On the crude oil markets, this means that we should focus on the fact there has not been a single barrel lost. All parties are interested in this...
Israel-Iran conflict sends oil prices soaring, risking global inflationary pressure
Korea JoungAng Daily
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June 16, 2025
Published: 16 Jun. 2025, 18:48 Updated: 16 Jun. 2025, 18:57 Audio report: written by reporters, read by AI A fire blazes in the oil depots of Shahran, Iran, on June 15. [AFP/YONHAP] As military clashes between Israel and Iran continue day after...
US resists EU and UK push to cut Russian oil price cap at G7 summit
BNE Intellinews
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The US is resisting calls from European governments to reduce the G7 price cap on Russian oil from $60 to $45 per barrel, frustrating efforts by the EU and UK to increase financial pressure on Moscow as leaders meet for a G7 in Canada. As bne...
Akabanga Lagos Becomes Exclusive Distributor of Rwanda’s Iconic Chili Oil in Nigeria
Alexa.ng
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June 16, 2025
Akabanga Lagos Becomes Exclusive Distributor of Rwanda’s Iconic Chili Oil in Nigeria Lagos, Nigeria – June 15, 2025 – Akabanga Lagos has officially become the sole distributor of Akabanga Chili Oil in Nigeria, following its 100% acquisition of...
Iran-Israel Tensions Fuel Oil Rally, Investors Are Piling Into Energy ETFs
Benzinga
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Investors have flocked into energy plays in the aftermath of last week's flare-up between Israel and Iran, signaling heightened expectations that escalating geopolitical tensions in the Middle East will continue to lift oil prices and benefit U.S....
Baker Hughes, Woodside CEOs Stay Wary Of Predicting Oil Prices Amid Israel-Iran Conflict – Here's Why Strait Of Hormuz Makes All The Difference
Asianet Newsable
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June 16, 2025
The CEOs of Baker Hughes (BKR) and Australia-based Woodside Energy, two of the largest energy companies in the world, said they couldn’t make firm predictions on oil prices amid the rising conflict between Iran and Israel, but noted there is a...
EU will not lower Russian oil price cap without G7 backing – sources from EU
Ukrainska Pravda
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Stock photo: Getty Images The European Union will not unilaterally reduce the price cap on Russian oil from US$60 to US$45 per barrel, as this initiative is unlikely to be supported by the Group of Seven (G7). Source: two diplomats from key EU...
Source from EU: EU will not lower Russian oil price cap without G7 backing
European Pravda
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The European Union will not unilaterally reduce the price cap on Russian oil from US$60 to US$45 per barrel, as this initiative is unlikely to be supported by the Group of Seven (G7). According to two diplomats from key EU member states familiar...
Russian Oil Prices Up Nearly 15% After Outbreak of Israel-Iran Fighting
The Moscow Times
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June 16, 2025
Russia’s flagship Urals crude oil, a key contributor to the national budget and the country’s war chest, jumped nearly 15% following the outbreak of hostilities between Israel and Iran, according to analysts at BCS Bank. Urals was trading at 5,000...
Wall Street recovers from Friday's shock as US stocks rally and oil prices ease
KNSS - Kentucky
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June 16, 2025
NEW YORK (AP) — Calm is returning to Wall Street, and U.S. stocks are rallying on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week. The...
South Sudan, CNPC strengthen partnership to increase oil output
Eye Radio
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June 16, 2025
Author: Obaj Okuj | Published: 9 minutes ago Oil pipeline in Paloch, Upper Nile State - photo: Courtesy The Ministry of Petroleum is planning to increase oil production in South Sudan by strengthening its cooperation with the China National...
Israel-Iran Tension May Push Oil Prices Up, UAE Fuel Prices Could Increase
Times of Dubai
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June 16, 2025
The pressure on fuel prices in the UAE is increasing, as the increasing tension between Israel and Iran is shaking the international market. Experts say that the cost of crude oil can cross $100 per barrel, which can directly affect petrol and...
Azerbaijan’s economic indicators improve on back of non oil sector gains
AzerNews
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June 16, 2025
Azerbaijan’s economic indicators improve on back of non oil sector gains 16 June 2025 19:15 (UTC+04:00) In May 2025, Azerbaijan's economy showed a mixed performance as the country grappled with inflationary pressures, a weakening oil sector, and...
Wall St set to open higher as oil prices ease, Fed meeting in focus
The Gazette - Colorado
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By Sruthi Shankar and Sukriti Gupta (Reuters) -U.S. stock index futures rose on Monday as easing oil prices supported sentiment despite ongoing attacks between Israel and Iran, while investors focused on the upcoming Federal Reserve meeting. Wall...
Dow Futures Edge Up As Israel-Iran Conflict Spares Oil Capacity: US Steel, Tesla, Victoria’s Secret, Sarepta Among Stocks To Watch
Asianet Newsable
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June 16, 2025
U.S. stocks appear set for a positive opening on Monday as the ongoing Israel-Iran conflict spared crude oil capacity over the weekend, resulting in oil prices simmering down. Crude oil prices surged by nearly 13% on Friday as Israel and Iran...
Soaring oil prices unlikely to spur US production, analysts say
E&E News
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June 16, 2025
The escalating conflict between Israel and Iran has already driven up oil prices, as investors worry about disrupted oil supplies and a potentially wider regional war in the Middle East. But experts don’t expect the higher prices — if they stick —...
Wall St opens higher as oil prices ease, Fed meeting in focus
The Gazette - Colorado
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By Sruthi Shankar and Sukriti Gupta (Reuters) - U.S. stock indexes rose on Monday as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, allaying investor concerns ahead of a Federal Reserve policy...
Oman’s oil exports dip 3.4% amid falling prices and production
The Arabian Stories
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June 16, 2025
MUSCAT : The Sultanate’s total oil exports dropped by 3.4% to 100.03 million barrels by the end of April this year, compared to 103.55 million barrels during the same period in 2024. The dip in exports was accompanied by a 5.2% fall in the average...
Shares nudge up, oil dips, with Middle East and central banks in focus
Zawya
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World shares nudged up on Monday, helped by oil walking back some of last week's increase, though the conflict between Israel and Iran remained a concern, adding further uncertainty to a week packed with central bank meetings. The escalation in...
Israel-Iran fallout sparks concerns for Africa’s oil producers
Semafor
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The escalating conflict between Israel and Iran has prompted fears about the impact on economies across Africa. Oil prices have surged following Israel’s initial strikes on Iranian targets on Friday and retaliatory attacks by Tehran amid concerns...