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Transpacific spot rates have hit their post-crisis ceiling after tripling since February, though ocean carriers will keep pricing elevated through late 2026.
The Gulf crude producers plan to offer priority emergency deliveries to regional markets that remain heavily dependent on Middle East imports.
Chinese buyers lifted intake to 7.84 million barrels a day in September, easing a multi-month inventory drawdown that previously insulated transport and retail supply chains from price spikes.
A nationwide relief program offering 100 rupees per litre in petrol discounts begins tonight to protect gig workers and low-income drivers from surging import costs.
The consultancy beat three rival bidders to design storage options as Islamabad seeks buffers against Middle East shipping disruptions.
The second consecutive weekly increase lifts domestic diesel and petrol prices as shipping friction in the Strait of Hormuz tightens regional product benchmarks.
Tech exporters in Tokyo, Seoul and Taipei pause ahead of chipmaker revenue forecasts of 92 billion dollars and fresh trade tensions.
Japanese households face renewed financial pressure as companies prepare to pass on rising crude oil costs to consumers from summer onwards, exacerbating a slowdown in domestic demand. This comes after GDP growth was driven by external factors.
Vietnam’s crude oil export is plunging, partly because of depleting resources. An industrialist says the situation can only improve after new fields come online in several years. Crude exports volume from January 1 to February 15 this year fell nearly 50…
Oil price fell about 2 percent on Thursday as the market was weighed down by concerns that global demand growth would lag in the coming year. A rebound from late December lows seemed to stall amid worries that a trade war between the U.S. and China would…
Crude oil prices edged lower on Monday after sharp gains during the previous session but were supported by expectations of shrinking supply and signs that China-US trade tensions could ease. International Brent crude oil futures on Monday were down 20 cents,…
SK Innovation, Korea’s largest oil refiner, said Thursday that its earnings sank 21 percent last year on lower oil prices and less demand for petrochemical goods. Net profit reached 1.69 trillion won last year, compared with a profit of 2.15 trillion won a…
The Nghi Son Refinery began commercial operation Sunday, and is expected to meet about 40 percent of domestic petroleum demand in 2019. Speaking at its inauguration, Prime Minister Nguyen Xuan Phuc emphasized the key role of the project. The refinery will…
A prime ministerial advisory body has said the state budget is overly dependent on crude oil, an unsustainable income source. The National Financial Supervisory Commission (NFSC) recently said crude oil is not a sustainable income source, both in the short…
A prime ministerial advisory body has said the state budget is overly dependent on crude oil, an unsustainable income source. The National Financial Supervisory Commission (NFSC) recently said crude oil is not a sustainable income source, both in the short…
Shares in Europe and Asia fell on Monday in trade thinned by holidays in a number of financial centres, hit by slumping oil prices and concerns over Chinese growth and finances – two of the year’s major factors. Prices of both Brent and U.S. crude fell 1.8…
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