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US-China Competition Intensifies in Global Energy Market
Kathmandu. Competition between the US and China in the global energy market is intensifying. On one hand, the US is trying to expand the global market for fossil fuels by increasing oil and natural...
Why have India-US trade talks stalled again and what’s next?
Disputes over tariffs, Russian oil purchases and access to sensitive sectors have left the two countries struggling to revive a deal despite months of negotiations. Senior officials in India and t...
Iran's IRGC hit 7 "violating" oilers in Hormuz Strait in 5 days -- media
TEHRAN, Oct 4: The navy of Iran's Islamic Revolution Guard Corps (IRGC) has targeted at least seven "violating" oil tankers in the Strait of Hormuz in the past five days, the semi-official Fars new...
NOC projects Rs 7.5 billion loss in 3 months as global fuel prices rise
Kathmandu, October 2 Nepal Oil Corporation (NOC) has projected a net loss of around Rs 7.5 billion in the first three months of the current fiscal year as international crude oil and refined fuel ...
Two oil tankers catch fire after hitting naval mines in Strait of Hormuz
Tehran. The Islamic Revolutionary Guard Corps (IRGC) of Iran has stated that two oil tankers caught fire after hitting naval mines in the Strait of Hormuz. According to the state news agency IRNA,...
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India warns new US tariffs over Russian oil could hit ties, vows to protect energy security
New Delhi’s response could complicate already difficult trade negotiations with Washington, while refiners seek relief to manage existing Russian oil purchases. India has warnedWashington that new...
Iran's IRGC hit 7 "violating" oilers in Hormuz Strait in 5 days -- media
TEHRAN, Oct 4: The navy of Iran's Islamic Revolution Guard Corps (IRGC) has targeted at least seven "violating" oil tankers in the Strait of Hormuz in the past five days, the semi-official Fars new...
US stocks fall for fourth straight session as oil prices, inflation fuel rate-hike bets
New York, September 11 US stocks closed lower on Thursday for a fourth consecutive session as surging oil prices and stronger-than-expected wholesale inflation strengthened expectations of further...
Oman Rescues Crew from Attacked Ship; Iran Stops Tankers in Strait of Hormuz
Kathmandu. Oman has rescued 25 crew members from a commercial ship that caught fire after an attack on Friday. Meanwhile, Iran has stated that it has stopped three oil tankers attempting to cross t...
Asian stocks hit as oil spike fans rate hike bets, eyes on US jobs
HONG KONG, Oct 2: Most Asian stocks dropped Friday as investors grow increasingly concerned about surging oil prices and bond yields, while key jobs data later in the day will be pored over for an ...
Iran conflict drives up fuel costs for US consumers
Washington, September 8 The Iran conflict and disruptions to crude oil shipments through a key maritime route have pushed US gasoline prices to their highest level in years, increasing financial p...
Oil Prices Rise Amidst Strait of Hormuz Tensions and Asian Market Fluctuations
Kathmandu. Concerns about oil supply from West Asia have increased as Iran has increased attacks on oil tankers in the important Strait of Hormuz, leading to a rise in crude oil prices on Wednesday...
Stocks drop and oil rises as Hormuz hopes fade
HONG KONG, Sept 29: Asian stocks mostly fell and oil prices extended gains Tuesday as hopes for a reopening of the Strait of Hormuz fade amid expectations the Federal Reserve will hike interest rat...
Middle East Crude Oil Exports Increase Despite Strait of Hormuz Attacks
Tehran. Crude oil exports from the Middle East, excluding Iran, have seen a significant improvement. Despite attacks on ships in the Strait of Hormuz, oil exports have reached over 18 million barre...
Oil prices flare as Iran tightens grip on Hormuz
TEHRAN, Sept 10: Oil prices hovered above $100 a barrel on Thursday, a day after Iran said it attacked more than a dozen vessels trying to pass through the Strait of Hormuz.
G7 Nations Agree to Release 100 Million Barrels of Oil and Diesel
France. To control the global energy supply crisis and rising fuel prices, G7 nations have agreed to bring 100 million barrels of crude oil and diesel to the market from their strategic reserves ov...
Crude extends gains, most stocks drop as Mideast hopes dim
HONG KONG, Aug 18: Oil prices extended gains and Asian stocks mostly fell on Tuesday as a US-Iran deal to reopen the Strait of Hormuz remained distant, a day after the deadline for a truce expired.
US President Trump Rejects Iran Sanctions Removal, Oil Prices Rise
America. After US President Donald Trump rejected the possibility of lifting sanctions on Iran, the price of crude oil increased in the international market on Wednesday. With the supply of crude o...
India central bank holds rates as it assesses Mideast shock
MUMBAI, Aug 6: India's central bank kept interest rates unchanged on Wednesday as it waits to see whether volatile oil prices caused by the Iran war feed wider inflationary pressures.
West Asia Oil Exports Show Improvement
Oil exports from West Asia have increased significantly this month, according to some oil analysts, bringing them close to the level before Iran closed the Strait of Hormuz in March. This improveme...
"Strait of Hormuz is our land": IRGC warns countries aiding US of "harsh response"
TEHRAN, July 30: Iran's Islamic Revolutionary Guard Corps (IRGC) said that two oil tankers attempting to leave an "unsafe route" south of the Strait of Hormuz turned back after a fire broke out on ...
Crude Oil Prices Rise Amid Supply Disruption Fears
Riyadh. International market crude oil prices rose by about 3 percent on Monday amid concerns of supply disruption. Brent crude futures rose $2.93 or 2.8 percent to $107.54 a barrel. Similarly, WT...
Middle East escalation triggers oil price surge
TEHRAN, July 24: The United States launched fresh strikes on Iran Friday after Tehran-backed Houthi rebels attacked oil tankers in the Red Sea, marking an escalation that pushed crude prices past $...
Global Crude Oil Prices Surge Amidst Geopolitical Tensions
Kathmandu. Crude oil prices have risen sharply in the global market. Concerns that energy supply could be affected for a long time due to the war with Iran and rising tensions in the Gulf region ha...
Oil eases after Iran says US contacts continue through mediators
HONG KONG, July 20: Oil scaled back gains after hitting its highest price in a month on Monday as Iran said diplomatic exchanges with the United States were ongoing via mediators despite renewed co...
Crude Oil Prices Rise for Fourth Consecutive Day Amidst West Asia Conflict
New York. Crude oil prices rose for the fourth consecutive day in the global market on Wednesday. The price of oil in the international market has increased due to escalating conflict in West Asia....
Oil extends gains after fresh US strikes
LONDON, July 15: Oil prices surged on Tuesday after fresh US strikes against Iran, fuelling fears over their already fragile truce and the risk of another spike in inflation.
Crude Oil Prices Surge Past $90 Amidst US-Iran Tensions
New York. Crude oil prices have risen to over $90 in the global market. Crude oil prices have risen as hopes for an immediate resolution to the conflict between America and Iran have faded. Crude o...
IEA Projects 4.3 Million Barrels Daily Crude Oil Supply Cut This Year
Kathmandu. A significant drop in crude oil supply is estimated in the global market. The International Energy Agency (IEA) has projected that the global market's crude oil supply will decrease by 4...
Crude Oil Prices Rise Amidst Strait of Hormuz Tensions and Failed Negotiations
New York. Crude oil prices have increased in the international market. On Wednesday, crude oil prices rose as the possibility of successful negotiations regarding the reopening of the Strait of Hor...
Asian Share Market Rises on Weak US Jobs Report, Oil Prices Climb
Tokyo. Asian share markets rose on Monday as a weak US jobs report eased the risk of an immediate interest rate hike. The positive impact of Wall Street was seen in Asian markets, but crude oil pri...
Oil Prices Fall Over $4 After Trump Cancels Attack on Iran
Kathmandu. After US President Donald Trump postponed the planned attack on Iran's infrastructure, oil prices per barrel have fallen by more than $4 in the international market. According to Reuter...
Iraq and Turkey Sign One-Year Deal for Crude Oil Export
Kathmandu. Iraq has signed a one-year agreement with Turkey to transport crude oil through the Iraq-Turkey pipeline to Turkey's Ceyhan port and export it. Iraq's Oil Ministry provided information a...
Oil Prices Plummet as US-Iran Conflict Pauses Temporarily
Washington D.C. Crude oil prices fell sharply in the world market on Monday after the conflict between the United States and Iran was temporarily halted. This decline is considered the biggest sinc...
Crude Oil Prices Rise Nearly 3% Amidst US-Iran Tensions in Strait of Hormuz
Kathmandu. Due to the increasing tension between America and Iran in West Asia, oil transportation through the Strait of Hormuz has been affected, causing crude oil prices to rise by approximately ...