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News
8Oil Rises to $94 Following Houthi Attack on Aramco Refinery and Strait of Hormuz Tensions
Brent rose to $94 per barrel, up 3.3% for the week, driven by a Houthi attack on an Aramco refinery in Jazan and tensions in the Strait of Hormuz, through which 20% of global oil passes.
النفط يتخطى 93 دولاراً وأمريكا تُشدّد العقوبات على شبكات الشحن الإيرانية
ارتفع خام برنت أكثر من 5% خلال أسبوع إلى 93.5 دولاراً مع تصاعد العقوبات الأمريكية على الشحن الإيراني وضربات أوكرانية على البنية الطاقوية الروسية.
Korea Fair Trade Commission Conditionally Approves Daesan Petrochemical Merger
The Korea Fair Trade Commission has conditionally approved the merger of HD Hyundai Chemical with Lotte Daesan Petrochemical, marking the first government-led industrial restructuring.
Saudi Producer Sells Out September PE Allocations to Vietnam Following Price Reduction
A Saudi producer sold its entire September polyethylene allocation to Vietnam after halving its price hike, drawing buyers back and resulting in a complete sell-out.
Shell Shares Jump 16% From Lows as Adjusted Profit Reaches $9.8 Billion
Shell shares rose 2-3% to reach 3,345 pence after the company reported adjusted profits of $9.8 billion and reduced costs by $5.8 billion since 2022.
BP Profits Rise to $5.7 Billion and Its Shares Recover 18% From Lows
BP achieved profits of $5.7 billion in the second quarter compared to $3.2 billion last year, while its shares rose 3% to trade at 534 pence.
Trump Closes the Door on Diplomacy with Iran as Brent Holds at $91
Trump announced that there are no scheduled talks with Iran following the expiration of the 60-day deadline, while Brent crude held at $91.75 with the likelihood of a nuclear deal not exceeding 23%.
Brent Crude Rebounds to $84.4 Amid Growing Strait of Hormuz Supply Fears
October futures rose 1% just a week after an 8% drop, as market anxiety over Strait of Hormuz shipping outweighs OPEC+ production plans.