Business - Energy - Emirates 24|7

Oil prices rose today, Wednesday, extending a rally that began several days ago, while gold prices showed little change amid volatile trading. In oil markets, Brent crude futures for June delivery rose by US$0.52, or 0.47 percent, to reach $111.78 per barrel as of 01:54 GMT, while the more active J

Washington: The Trump administration on Friday renewed a waiver allowing countries to buy sanctioned Russian oil at sea for about a month, even as lawmakers accused the government of going easy on Moscow as its war on Ukraine grinds on. The Treasury Department 's waiver lets countries purchase Russ

London: Oil prices fell on Friday as possible further talks between the US and Iran at the weekend and a 10-day ceasefire between Lebanon and Israel raised investors ' hopes the war in the Middle East could be nearing an end. Brent crude futures declined by $3.08, or 3.10%, to $96.31 a barrel at 11

Abu Dhabi: Global equity research firm, Bernstein, has initiated sell-side coverage of the Middle East and North Africa (MENA) energy sector, highlighting the UAE’s adaptive governance model, disciplined, sovereign-backed ownership structures and strong cashflow visibility across the energy value c

Riyadh: The Saudi Ministry of Energy announced today the success of operational and technical efforts in restoring the full pumping capacity through the East–West pipeline, amounting to approximately seven million barrels per day (mbpd), and recovering the affected volumes from the Manifa field pro

His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and its group of companies, stressed the need for the Strait of Hormuz to be fully reopened without any restrictions or conditions, saying the current situation does n

A surge in jet fuel prices driven by the US-Israeli war on Iran has upended the global aviation industry, forcing airlines to raise fares and revise financial outlooks. Jet fuel prices have soared from $85 to $90 per barrel to $150 to $200 per barrel in recent weeks before falling back, a financial

Dubai:   Oil prices extended gains on Tuesday as a U.S.-imposed deadline loomed for Iran to open the Strait of Hormuz or be "taken out", with U.S. President Donald Trump threatening to order attacks on Iranian bridges and power plants. Brent crude futures rose $1.74, or 1.6%, to $111.51 a barrel by

U.S. President Donald Trump’s efforts to lower energy costs via "Truth Social" are facing a significant market disconnect: a surge in refined products that is outstripping crude oil benchmarks. While the administration targets headline crude prices, the real economic pressure is stemming from a "re

Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the Supply and Transport Committee, affirmed that the transport system and supply chains in the UAE continue to operate efficiently and regularly within an integrated framework characterised by resilience and readines

Mubadala Energy, the Abu Dhabi-headquartered international energy company, on Thursday announced the award of the Southwest Andaman exploration Production Sharing Contract (PSC) under Indonesia 's Gross Split scheme. The block was awarded by Direktorat Jenderal Minyak dan Gas Bumi (DG MIGAS) as par

Crude oil prices plunged more than 5% on Wednesday while global equity markets rallied as investors weighed the possibility of a de-escalation in the Iran conflict following signs of diplomatic outreach between Washington and Tehran. Brent crude, the international benchmark, dropped 5.2% to $94.97