Oil

News
Videos

OIL NEWS

Privatisation and petroleum: Let’s resurrect an old question

August 02, 2026 11:33 pm

Government’s investment is not an insignificant amount, especially as it generates no return. Privatisation could provide the funding. Hence, the question

Who profited most from US-Iran war? The numbers tell the story

August 02, 2026 4:36 am

As fighting between the US and Iran chokes off oil shipments through the Strait of Hormuz, American giants Exxon and Chevron are posting record profits, even as drivers, airlines and households worldwide pay sharply more for fuel.

Sources told Reuters that NIOC was offering crude at $3-$4 a barrel below comparable regional grades on a landed basis. (File Photo)

Iran offers discounted crude to India after US sanctions waiver, refiners weigh return: Report

June 26, 2026 8:17 pm

Reuters reported that Indian refiners have limited room to take on Iranian crude in the near term, as most have already secured their oil supplies through August.

Pakistan hints at cutting fuel prices after US-Iran deal, eases Middle East tensions

June 18, 2026 10:00 pm

Fuel prices have been falling globally, driven by a proposed US-Iran peace agreement and easing supply concerns.

Oil holds near $95 as Strait of Hormuz fears intensify

June 02, 2026 11:06 am

Despite the spike in crude prices, US stock markets remained resilient, with the S&P 500 and Nasdaq hitting fresh record highs.

Cuba has completely run out of diesel and fuel oil,

'We have absolutely no fuel oil', says Cuba. Here's why

May 15, 2026 12:24 pm

Cuba fuel crisis has escalated after the government confirmed diesel and fuel oil reserves were exhausted, triggering severe blackouts and protests.

IEA warns oil supply crunch amid the West-Asia war

May 13, 2026 9:10 pm

IEA oil market report warned of a severe global supply shortfall in 2026 due to disruptions caused by the Iran conflict and Gulf instability.

Tankers anchored in the Strait of Hormuz off the coast of Qeshm Island, Iran, Saturday, April 18, 2026.

West Asia war: Impact of disruptions on global fuel supply, with potential for coal and n-power switch

April 21, 2026 11:52 am

About 80% of oil and oil products transiting the Strait of Hormuz in 2025 were destined for Asia. The war has significantly affected fuel deliveries, and could force a shift to both conventional and renewable alternatives.