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Francisco Blanch, Bank of America Commodities and Derivates Research Global Head, discusses energy markets and the volatile context around oil inventories as conflicts in the Middle East and Russia's invasion of Ukraine continue. "We've been living a little bit on borrowed time," Blanch tells Bloomberg Television. He adds crude oil could face a crunch point in "maybe four, five months." (Source: Bloomberg)
Oil rose following a deadly attack on a Saudi oil field, raising concerns that escalating hostilities in the Middle East could hit supply even as exports through the Strait of Hormuz have accelerated in recent months.
Treasuries fell after reports suggesting the Middle East war is heating up lifted oil prices.
Indian Oil Corp. plans to reduce the amount of crude purchased under term contracts with Middle Eastern producers next year, according to a person familiar with the matter, as attacks in the Persian Gulf continue to threaten supply routes.
A key benchmark for Middle East crude fell to its lowest in nearly three months, an indication of the resilience of the region’s exports despite intensifying Iranian attacks on shipping.
President Macron's Gulf visit aims to address rising energy prices and strengthen ties amid regional security concerns.
Halliburton Co. is predicting years of growing demand for oil field services as nations in the Middle East rebuild energy assets and infrastructure damaged in the Iran war.
Barrack highlights limits of US interventions, admitting past regime changes in the Middle East were often mistakes.
Filipino seafarer Jay was on lookout duty aboard a vessel passing through the Strait of Hormuz one evening in August when drones swarmed overhead, darting past his ship and two others it was following. Within seconds, an explosion rang out from the tanker ahead. “That was traumatic for me when I saw that the tanker ahead of our vessel had been hit,” said Jay, whose real name has been withheld to protect him from possible employer retribution. The 29-year-old and his fellow crew members made it...
Asian liquefied natural gas prices rose to the highest in almost four years, as attacks on tankers in the Middle East damped hopes for a recovery in exports from the war-torn region.
Saudi Arabia has decided to postpone its flagship investment conference until next year, organisers confirmed in a statement on Monday, following deadly attacks which rocked the kingdom in recent weeks as the Middle East conflict widens, disrupting business. The Future Investment Initiative, or FII, was planned for October 26 to 29, but will now take place in 2027, with a new date to be announced “very soon,” the organisers said. Reuters reported earlier Monday that the in-person event had been...
Malaysia hasn’t agreed to provide financial support to AirAsia Group Bhd. even as the airline faces losses from a sharp rise in jet fuel prices following the Middle East conflict.
Oil prices pulled back from a five-month high as traders weighed escalating tensions in the Middle East against surprisingly resilient supply. Houthi attacks on Saudi Arabia are intensifying, with fresh strikes and attempted attacks targeting the kingdom and its key energy infrastructure. Matthew Mullman, Senior Analyst for Global Macro at Signum Global Advisors spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East & Africa. (Source: Bloomberg)
Oil steadied after jumping on Friday, as flareups in fighting in the Middle East and Ukraine dimmed the prospect of a return to normal crude flows.
US President Donald Trump on Sunday endorsed his ally Benjamin Netanyahu as the long-time Israeli prime minister struggles for an edge in next week’s parliamentary election. Trump praised Netanyahu as a “great warrior prime minister” and peace partner, crediting him with joining the United States in launching strikes on Iran in February. The conflict, in its seventh month, has disrupted energy markets globally and wreaked havoc across the Middle East, damaging critical infrastructure and...
Instead of redrawing the region, Israel's wars of expasion pushed the region to work together against it.
“If you’re in doubt about somebody’s name from the Middle East, just say ‘Mohammed,’” says US President Donald Trump.
Iranian President Masoud Pezeshkian has decried the ecological damage caused by conflict in the Middle East
Angola is considering selling bonds in China or tapping Islamic debt markets in the Middle East as the oil-producing nation seeks to diversify its sources of financing, according to a senior finance official.
The Houthis launched a deadly missile attack on Thursday on the presidential palace in the Yemeni government’s interim capital of Aden, as Saudi Arabia blamed Iran for the recent dramatic escalation in the long-running war. Saudi Arabia and the internationally recognised government it backs in Yemen have come under sustained Houthi attack of late, shifting the focus of the wider Middle East war that erupted with US-Israeli strikes on Iran in February. The Iran-backed Houthis have seized swathes...
Rising fuel prices are having a negative impact on household budgets and sectors including transport, agriculture, and construction.
Bangkok, Oct. 15 (Jiji Press)--Finance ministers and central bank chiefs from the Group of 20 major economies met in Bangkok on Thursday to discuss ways to address rising inflation as crude oil prices remain high amid turmoil in the Middle East. Participants also discussed coordinating their policies to stabilize financial markets in light of a global rise in long-term interest rates, fuele...
Oil fell as concerns about the supply disruptions caused by the conflict in the Middle East eased and the International Energy Agency raised its forecast for the war’s impact on supply. Bloomberg's Stuart Livingstone-Wallace reports. (Source: Bloomberg)
Lorelai Jacinto had worked as a domestic helper in Riyadh for two and a half years before she flew home to the Philippines on September 19, increasingly worried that the conflict in the Middle East was making it unsafe to stay. “When the conflict with Iran happened, I started feeling like it wasn’t safe there any more because I was right there in Riyadh myself, so the bombing, the missiles, were closer to us,” Jacinto told This Week in Asia. “I got worried, I got scared that maybe I wouldn’t be...
Oil held a gain as a flare-up in attacks from Russia to the Middle East threatened supply that only recently recovered to near pre-war levels.
Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)
There has been a huge popular success for the IPO of the Dangote Refinery now ending on October 27th, 2026, after a 2-week extension. With the escalation of the conflict in the Middle East, the closure of the Strait of Hormuz has caused a surge in global crude prices and, in turn, supply shortages – pushing African and European countries to turn in mass to the Dangote refinery. The leading African producer of crude oil seeks to transform its status to a regional hub for refining and petrochemicals. FRANCE 24's Chinwe Ossundu reports.