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Oil climbed on Friday, with Brent settling at US$116.72, up 3.1%, and WTI up 3.8%, lifting Petrobras, YPF and Ecopetrol in New York. The post Brent Crude Settles at US$116.72, Up 3.1% | Oil, Oct 23 appeared first on The Rio Times.
Vikas Kaushal, Chairman and Managing Director (CMD) informed the state-owned OMC is procuring more on landed basis than on FOB basis and term contracts
The US will turn some "dark fleet" oil tankers into legitimate ships that can legally carry crude, says Energy Secretary Chris Wright. He says investors will refurbish some ships and have them carry non-sanctioned oil. He speaks to Bloomberg's Annmarie Hordern at a Citadel Securities event in New York. (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.
ADNOC supplied more than 500,000 barrels of crude a day to India in 2025, “almost one in ten barrels of [India’s] crude imports”. The company is exploring opportunities with ISPRL to expand storage of crude oil, LNG and LPG, including strategic reserves
A US Census Bureau correction moves a June cargo of 597,027 barrels, worth US$69.67 million, from Mexico to Singapore. Pemex says it imported no crude in 2026. The post Mexico Never Got 597,000 Barrels of US Crude, US Says appeared first on The Rio Times.
Oil steadied after gaining early on October 1st on uncertainty over the Middle East flow recovery can be sustained. Crude rose for a third month in September, as Washington and Tehran failed to make headway toward a lasting peace agreement that would fully reopen the Strait of Hormuz. Victoria Mitchell, Control Risks’ Senior Analyst for Maritime told Bloomberg’s Abeer Abu Omar on Horizons Middle East & Africa on the oil exports going up. (Source: Bloomberg)
Indian oil refiners are hiring tankers to sail through the Strait of Hormuz to pick up crude from within the Persian Gulf, a change of tactics to help them cut costs and secure their supply chains.
Iraq’s state oil marketer offered buyers contractual crude supplies for October at discounts of as much as $37 a barrel to regional benchmarks, according to a document obtained by Bloomberg.