MIDEAST
Oil Rebounds as Key Pipeline Remains Shut and China Eases Curbs
Following the imposition of the price cap and related curbs, a backlog of tankers waiting to haul oil through Turkey’s vital shipping straits built up amid a dispute over insurance cover. That now appears to be clearing, with a port agent tally on Sunday showing 19 tankers waiting to pass through the Bosphorus and Dardanelles … Read more
OPEC+ Will Consider Output Cut of More Than 1 Million Barrels
The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day when it meets in Vienna on Wednesday, according to delegates.
Oil Set for First Quarterly Drop Since 2020 as Macro Mood Sours
Oil headed for its first quarterly loss in over two years on global economic slowdown fears and a stronger dollar.
US Aids Iran Protesters, Eases Curbs On Musk’s Starlink-Like Internet Services
The Treasury Department is easing restrictions around internet communications in Iran as protests continue in the country.
Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook
West Texas Intermediate was steady near $84 a barrel, and down almost 2% for the week. The Federal Reserve gave its clearest signal yet that it’s willing to tolerate a US recession as the necessary trade-off for regaining control of inflation, while the UK, Norway and South Africa also followed with hikes.