The United Arab Emirates defended its withdrawal from OPEC and OPEC+ on Saturday, calling the move a sovereign strategic decision. Energy Minister Suhail Al Mazrouei said the exit followed a review of production policies and future capabilities. The decision matters because it weakens OPEC’s influence over global oil supplies and energy markets. Mazrouei said the […]
global oil markets
Iran says US cannot dictate policy to nations
Iran has said the United States is no longer in a position to dictate policy to other nations. The statement comes as Washington considers a proposal from Tehran to reopen the Strait of Hormuz. The issue is significant as the waterway remains central to global energy flows and ongoing regional tensions. Iranian defence ministry spokesman […]
Oil prices drop as hopes grow for end to Iran conflict
Global oil prices fell sharply on Tuesday after reaching their highest levels in more than three years, as comments from US President Donald Trump raised expectations that the ongoing conflict in the Middle East could end sooner than anticipated. Read More: Govt scrambles to secure fuel as global oil prices surge International benchmark Brent crude dropped $6.51, […]
Fresh explosions in Tehran as Iran warns separatist groups
Fresh explosions were reported in Tehran on Thursday as Iran warned separatist groups against taking advantage of the escalating regional conflict and confirmed strikes on Kurdish factions based in Iraq. Read More: UAE closes Tehran embassy after Iranian missile attacks The widening war, which began on Saturday following joint US-Israeli strikes that killed Iran’s supreme leader, […]
Israel and Iran trade strikes as region reels from escalation
Israel launched a fresh wave of air strikes on Tehran on Sunday, prompting renewed missile barrages from Iran, a day after the killing of Supreme Leader Ayatollah Ali Khamenei deepened uncertainty across the Middle East and global markets. Read More: Iran’s leader Khamenei assassinated in US-Israel blitz The escalating confrontation, involving coordinated US and Israeli action, […]
Oil prices slide over 2% after Trump eases Iran war fears
Oil prices fell sharply in early Asian trade on Thursday after U.S. President Donald Trump said that killings in Iran’s nationwide protests were subsiding, easing fears of a U.S. military strike and potential supply disruption in the Middle East. This change in sentiment helped calm markets and reversed much of the recent rally driven by […]