Oil drops on demand concerns, US-China trade tension

Reuters news agency reported that oil prices fell on Monday, paring last week’s gains, on worries a global oil glut may persist amid slumping demand and US-China trade tensions that could rest

Beijing's March crude imports from Saudi fall, Russia up 31%: customs

Reuters news agency reported according to calculations based on customs data showed on Sunday China’s March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, whil

1.5 million Yemenis risk job loss in Saudi Arabia

More than 1.5 million Yemenis working in Saudi Arabia risk the loss of their jobs following the massive ramifications left by COVID-19 on the global economy, in general, and the Saudi economy in par

Shana: Iran authorises issuance of sukuk securities to fund oil, gas projects

Iran authorised the issuance of sukuk securities to fund oil and natural gas projects, Reuters reported on Saturday according to state-run energy news service Shana. First Vice President Eshaq Jaha

Oil prices fall to $26 as weak demand due to coronavirus crisis

Reuters news agency reported that oil slipped to around $26 a barrel on Friday as weak demand due to the coronavirus crisis and excess supply pressured the market, even as OPEC and its allies began

Oil prices rise as storage fills less rapidly than feared

Reuters news agency reported that US oil prices gained on Wednesday, trimming some of this week’s losses, after US stockpiles rose less than expected and on expectations demand will improve as

Oil prices fall as world runs low on storage capacity while demand plunges

Reuters news agency reported that oil prices fell again on Tuesday amid concern about dwindling crude storage capacity worldwide and fears that fuel demand may only recover slowly once countries eas

G20 launched Access to COVID-19 Tools (ACT) Accelerator” initiative

The G20 of rich and emerging economies on Sunday launched an international initiative to accelerate access to health tools needed to fight the new coronavirus, Reuters reported. The finance ministe

Houthis accuse coalition of holding 22 oil and food ships in Jizan port

Ansar Allah group (Houthis) Friday evening accused the Arab coalition to support of the Yemeni internationally recognized government of continuing to detain 22 oil and food vessels in front of Jizan

Oil rises, US approvs another package against turmoil over coronavirus outbreak

Oil prices rose on Friday, adding to gains from earlier sessions after producers such as Kuwait said they would move to cut output and the United States approved another package to cope with the tur

Arab coalition seeks to close Marib refinery: Houthis

The Sana'a-based Yemeni Petroleum Company (YPC) on Thursday accused the Saudi-led coalition and Yemeni official government of seeking to "stop Marib refinery's activity for personal interests amid l

Arrangements in Sanaa to sell oil at moderate cost

The Houthi-run Yemeni Petroleum company (YPC) announced on Thursday the arrangement to sell oil at an average cost, according to the Houthi-run Al-Masirah TV. The company confirmed, in a statement

Sources: Riyadh may re-route oil tankers if US imposes crude import ban

The kingdom, shipping and trade sources say that Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to blo

US oil futures rise over 20% and Brent prices steade after two-day price plunge

Reuters news agency reported that oil prices found some respite on Wednesday as US oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a m

Asia stocks off to cautious start, US crude oil slides

Reuters news agency reported that caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the glo

US crude oil falls over 10% to lows not seen since 1999

Reuters news agency reported that Crude oil futures fell on Monday, with U.S. futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that U.S. sto

Oil tanker arrives to refuel Aden power plants

An oil tanker arrived Sunday at Aden oil port to refuel power plants in the Yemeni southern port city."The 'Sabila' vessel is discharging its 37000-ton cargo of diesel into the refinery's storing fa

IMF, World Bank provide emergency funds to help countries battle pandemic

Reuters news agency reported that the International Monetary Fund (IMF) and the World Bank are providing emergency funds to developing and low-income countries across the world to strengthen their e