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petroleum

Oil climbs, stocks slide as Iran war uncertainty reigns

Oil climbs, stocks slide as Iran war uncertainty reigns

Oil prices jumped and equities slid Thursday as hopes for a peace deal between the United States and Iran wavered, with US President Donald Trump threatening to "obliterate" the country even as he claimed negotiations to end the conflict were ongoing. Markets had been buoyed at the start

Cathay Pacific raises fuel surcharge on all flights by 34%

Cathay Pacific raises fuel surcharge on all flights by 34%

Hong Kong aviation giant Cathay Pacific announced Thursday it was raising fuel surcharges on all flights by 34 percent as a result of increasing oil costs due to the Middle East war. "The price of jet fuel comprises both the crude oil component and the refinery component, both of

Russian oil arrives as Philippines battles 'energy emergency'

Russian oil arrives as Philippines battles 'energy emergency'

A ship carrying more than 700,000 barrels of Russian crude oil has arrived in the Philippines, a source with knowledge of the matter told AFP Thursday, days after the country declared a national energy emergency over the Middle East war. The Sierra Leone-flagged Sara Sky, bearing high-quality

Oil prices slip, stocks rally as Washington, Tehran bicker over talks

Oil prices slip, stocks rally as Washington, Tehran bicker over talks

Oil prices fell and stock markets rallied Wednesday on reports of a US plan to end the war with Iran -- which promptly rejected Washington's overtures, according to state media. After nearly four weeks of conflict, investors jumped on signs that hostilities could be winding down, with the safe-

Mideast war sparks long queues at Kinshasa petrol stations

Mideast war sparks long queues at Kinshasa petrol stations

Long queues of cars and motorcycles have built up at petrol stations in DR Congo's sprawling capital Kinshasa over fears of shortages and price hikes after Iran's blockade of a crucial shipping conduit. In retaliation for US and Israeli strikes that began more than three weeks

IEA chief says 'ready' to release more oil reserves if needed

IEA chief says 'ready' to release more oil reserves if needed

The head of the International Energy Agency (IEA) said Wednesday that he was "ready" to approve the release of more oil reserves if needed to cushion the impact of the Middle East war on global supplies. Fatih Birol made the comments on a visit to Tokyo, where Japanese

Montana gas prices remain below national average amid rising costs

Disruptions in Qatar and surrounding nations are directly impacting oil prices. As of Tuesday, oil prices are once again above $100 a barrel. At the same time, U.S. gas prices are continuing to rise. According to AAA, the national average price for a gallon of regular gas now sits