oil

America’s Strategic Petroleum Reserve has fallen to 293.4mn barrels as Washington draws down emergency stocks

Salvage crews are racing to contain an oil spill from the grounded Caroline Bezengi tanker after Russian crude spread around an Omani marine reserve and reached the country’s coastline

ADNOC says 15 of its vessels have been attacked by missiles and drones in the Strait of Hormuz since the conflict began, killing one crew member and injuring 20 others

Oil prices fell more than 5 per cent on Monday after US President Donald Trump paused plans for a fresh strike on Iran

Morgan Stanley said it now models an implied global oil market surplus of 4.8 million barrels per day in 2027

On Sunday, Iran fired a salvo of missiles at Israeli targets in retaliation for the strikes on Lebanon

Oman’s Mina al Fahal terminal had suspended oil loading on Friday for a brief time following an explosion near its single-buoy mooring (SBM) berths due to an alleged drone attack

Crude prices edged higher on Friday, but both Brent and WTI remained on track for steep weekly declines as investors questioned whether US-Iran peace negotiations can deliver a lasting breakthrough

Trump said on Monday there was a “very good chance” the US could reach an agreement with Iran to prevent Tehran from obtaining a nuclear weapon

The platform has an annual production capacity of around 20,000 tonnes of CRA OCTG and is expected to support regional energy infrastructure projects