Multiple airlines halt Cuba service amid reported fuel crisis. Thousands affected as carriers scramble to arrange emergency return flights.
Oil was up early in the Asia session amid lingering U.S.-Iran tensions that could lead to supply disruptions.
Oil held steady on Wednesday, finding support as the market waited for direction while U.S.–Iran talks continued, with lingering geopolitical uncertainty helping to underpin prices.
Record Resources Inc (TSX-V:REC) is making a deliberate move onto the global oil and gas stage, anchored by a large, high-potential offshore asset in one of West Africa's most established petroleum provinces. At the center of the strategy is Gabon, a country that Record Resources president and COO Alain Mizelle calls “one of the last unexplored, well-rich regions of the world.
Management at a Russian-owned oil refinery in Germany have privately warned Berlin that U.S. sanctions are hurting its business and threatening fuel supply for the country's capital and the region, according to correspondence seen by Reuters.
Rising Iran tensions keep a supply premium under crude oil as traders watch support levels and shifting oil outlook while WTI holds its uptrend.
Indian explorer Oil India reported a fall in third-quarter profit on Tuesday as lower realisations squeezed margins, despite higher fuel demand.
The EU's proposed sanctions on Russian oil exports, including third-country ports and refineries, raise global supply risks and keep WTI crude trapped in a tight consolidation range.
Oil prices eased slightly on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran.
Oil fell in the morning Asian session on possible position adjustments, but could be supported by U.S.-Iran tensions.
OPEC's oil output fell in January due to lower supply from Nigeria and Libya, a Reuters survey found on Monday, which offset increases in members including Venezuela after the U.S. capture of Nicolas Maduro and the ending of an oil blockade.
Venezuela's state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country's main crude region, the Orinoco Belt, which has boosted the nation's total production close to 1 million barrels per day (bpd), sources close to operations said.