Oil shipping costs have jumped sharply, making it more expensive to transport crude oil from the United States to Japan. The oil supertanker Esteem Explorer is scheduled to sail from the US to Japan in late November, carrying around 2 million barrels of crude oil. The journey is expected to cost $81 million, compared with … Read more
Oil prices slipped on Monday as markets weighed the possibility of more Russian diesel supplies. US President Donald Trump said Russia would supply additional diesel to the US and global markets. He also announced that Russia and Ukraine had agreed to stop attacks on each other’s energy facilities. These developments raised hopes that fuel supplies … Read more
The move comes amid an energy crisis that has erupted due to the escalating Russia-Ukraine war, and America’s inconclusive conflict with Iran (Photo: Reuters). United States on Tuesday offered to loan energy companies 40 million barrels of oil from its Strategic Petroleum Reserve, an attempt to control rising prices due to the Ukraine and Iran … Read more