Talk of $100 oil returned to the market this week following the Iranian attack against Israel that sparked fears of a widening conflict in the Middle East.   Analysts are not ruling out $100 oil in case of further escalation and even $130 oil if a broader conflict disrupts oil flows in the Strait of Hormuz, where around 21 million barrels per day (bpd)...

Israel launched missile strikes against Iran in the early morning hours, a U.S. official told ABC News today. The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian...

Following a strong rally amid escalating tensions in the Middle East, oil prices have pulled back sharply in the current week as demand worries outweigh geopolitical concerns. WTI crude for May delivery has declined 5.1% from the Friday close to trade at $83.15 per barrel while Brent crude June contract has retreated 4.9% to change hands at $87.50,...

The director of the FBI has warned that the Chinese state has its sights set on U.S. critical infrastructure to compromise U.S. economic and national security. Speaking at the Vanderbilt Summit on Modern Conflict and Emerging Threats, Christopher Wray said “The PRC [People’s Republic of China] has made it clear that it considers every sector that makes...

Coal was more popular than ever in 2023, despite big promises from many world powers to curb production and use in favour of cleaner alternatives. Mainly owing to China and India, the generation of electricity from coal production increased last year, as several new plants came online across Asia. While countries such as the U.S. and the U.K. are ditching...

China scooped up record volumes of crude oil imports from Russia in March, adding 790,000 barrels per day to its stockpiles, up from 570,000 bpd in January and February, Reuters’ Clyde Russell reported on Thursday, citing official Chinese import data.  Beijing’s efforts to boost its strategic stockpiles is simultaneously skewing the country’s oil demand...