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NEW YORK, United States (AFP) — Global stock markets were mixed on Monday ahead of key US economic data and a European Central Bank meeting, while crude prices gained as the new Saudi oil minister signaled he would defend oil prices. Major US stock indices finished little changed ahead of key reports on consumer prices and retail sales for August later in the week. Investors are in “wait and see” mode, said Art Hogan, chief […]
(Eagle News)–The Department of Foreign Affairs on Sunday, Sept. 8, said it was ready to provide assistance to the Filipino crewmen of a tugboat allegedly seized by Iranian authorities in the Persian Gulf. The DFA said that based on a report from Ambassador to Iran Wilfredo Santos, Coast Guard authorities have said that an investigation is so far ongoing on the alleged oil smuggling of the crew on Sept. 7. Once this has been […]
by Paul HANDLEY with Amir HAVASI in Tehran Agence France Presse WASHINGTON, United States (AFP) — The US Justice Department issued a warrant Friday for the seizure of the Iranian oil supertanker Grace 1, one day after a Gibraltar judge allowed the release of the detained vessel. The Justice Department alleged the ship was part of a scheme “to unlawfully access the US financial system to support illicit shipments to Syria from Iran by […]
WASHINGTON, United States (AFP) — The United States on Thursday threatened a visa ban on the crew of an Iranian supertanker whose departure from Gibraltar Washington failed to block. State Department spokeswoman Morgan Ortagus said the Grace 1 was assisting Iran’s Revolutionary Guards, which the US deems a “terrorist organization,” meaning crew members “may be ineligible for visas or admission to the United States under the terrorism-related inadmissibility grounds.” © Agence France-Presse
MONTREAL, Canada (AFP) — An oil platform off the Canadian island of Newfoundland spilled nearly 3,200 gallons of an oil-water mix into the Atlantic Ocean, and efforts were underway to minimize the environmental impact, ExxonMobil said Thursday. The spill occurred a day earlier during “routine activities related to removing water” from a platform storage cell, the American oil giant said earlier. “The estimated volume of oil released from the Hibernia platform was 75 barrels of […]
WASHINGTON, United States (AFP) — Armed Iranian boats attempted to seize a British tanker in strategic Gulf waters on Wednesday but were driven off by a Royal Navy frigate, CNN reported. The Iranians ordered the British Heritage oil tanker, which was crossing into the Strait of Hormuz area, to change course and stop in Tehran’s nearby waters, CNN said, citing two American officials. A US aircraft shot video of the incident, which ended when the […]
by Jorge GUERRERO GIBRALTAR, United Kingdom (AFP) — Iran on Thursday condemned the “illegal interception” of one of its oil tankers in Gibraltar where authorities said they suspected it was carrying crude to Syria in violation of EU sanctions. The detention of the 330 metre (1,000 feet) Grace 1 vessel comes at a sensitive time in Iran-EU ties as the bloc mulls how to respond to Tehran announcing it will breach the maximum uranium enrichment […]
HONG KONG, China (AFP) — Oil prices fell sharply on Tuesday even as leading crude exporters extended a supply agreement, while global equities mostly nudged higher in the aftermath of the weekend’s US-China trade detente. Benchmark crude prices tumbled more than four percent following the latest agreement among oil producers, confirmed at a meeting of the Organization of the Petroleum Exporting Countries in Vienna and supported by Russia and other exporters. Analysts still see the […]
by Roland JACKSON / Jastinder KHERA VIENNA, Austria (AFP) — OPEC agreed Monday to extend by nine months daily oil output cuts aimed at supporting prices and soaking up excess supplies, following last weekend’s G20 pact between cartel kingpin Saudi Arabia and non-member Russia. “We are very happy to announce that we have reached an agreement to extend for nine months the current production level,” said OPEC president and Venezuelan Oil Minister Manuel Quevedo at […]
OSAKA, Japan (AFP) — Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said on Saturday. “We will extend this deal, Russia and Saudi Arabia. For how long? We will think about that. For six or nine months. It is possible that it could be up to nine months,” Putin told reporters after a G20 summit in Osaka. The OPEC […]
by Roland JACKSON LONDON, United States (AFP ) — OPEC is on red alert over escalating US-Iran tensions that fuelled strong oil-price gains — but the cartel and other crude-producing nations are unlikely to end output cuts at a meeting Tuesday. The Organization of the Petroleum Exporting Countries, a cartel of 14 countries pumping one third of the world’s oil, is acutely aware that a faltering global economy is sapping growth in crude demand, helping […]
HONG KONG, China (AFP) — Oil prices extended gains Monday as rising US-Iran tensions fuelled supply concerns, while Asian equity traders moved cautiously ahead of a crunch meeting between Donald Trump and Xi Jinping this week. Both main crude contracts are up almost 10 percent since Tehran last week shot down a US “spy drone” for breaching its airspace, ratcheting up fears of a conflict between the old foes. At the weekend Trump said he […]
