Owner of tanker attacked in Gulf of Oman blames 'flying objects,' seeming to contradict US suggestion that it was a mine

The owner of an oil tanker attacked in the Gulf of Oman said the crew saw “flying objects” before the ship was hit, seeming to contradict the US government’s favored narrative. The US military said it saw what it suspects is an unexploded mine on the side of the ship, and released a video it says shows Iranian forces removing […]

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Oil slips as demand concerns outweigh Mideast geopolitics

Former Shell Oil President on oil: We don’t need the imports Former Shell Oil President John Hofmeister on the need for the U.S. to be energy independent. Oil prices fell on Friday on fears trade disputes will dent global oil demand, although the attacks this week on two oil tankers in the Gulf of Oman gave prices a floor. Continue Reading Below Brent crude futures […]

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Why Are Oil Prices Rising and Should Investors Be Worried?

This article was originally published on ETFTrends.com. By: Alex Dryden via Iris.xyz. Brent crude oil prices have risen by 34% in 2019, and U.S. orientated WTI oil price have also rallied significantly, up 39% year-to-date. The main driving factors for higher oil prices in 2019 have been rising geopolitical concerns in places such as the Middle East and Venezuela, causing worry […]

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Iran's crude exports slide to 500,000 bpd or less -sources

LONDON, May 16 (Reuters) – Iranian crude oil exports have fallen in May to 500,000 barrels per day (bpd) or lower, tanker data showed and industry sources said, after the United States tightened the screws on Tehran’s main source of income, deepening global supply losses. The United States reimposed sanctions on Iran in November after pulling out of a 2015 […]

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Satellite images show oil tankers allegedly sabotaged

This satellite image provided by Maxar Technologies shows the Saudi-flagged oil tanker Amjad off the coast of Fujairah, United Arab Emirates, Monday, May 13, 2019. As many as four oil tankers anchored in the Mideast were damaged in what Gulf officials described Monday as a “sabotage” attack off the coast of the United Arab Emirates. (Satellite image ©2019 Maxar Technologies […]

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Revived proposal for new oil, gas drilling in California

This June 12, 2017 photo shows pumpjacks operating in the western edge of California’s Central Valley northwest of Bakersfield. The federal government wants to reopen over 1.7 million acres (690,000 hectacres) in California to oil and gas drilling that includes fracking on land that has been off-limits since environmentalists sued in 2013. The Bureau of Land Management issued final plans […]

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8 Oil & Energy ETFs to Trade as Sector Posts Big Losses

This article was originally published on ETFTrends.com. Despite efforts to buoy oil markets, WTI crude oil was off by nearly 4% Thursday, breaking through an important technical support level. Crude futures fell off rapidly despite an uptick in geopolitical concerns, including unrest in Venezuela and the US-backed attempts aimed at driving Iran’s crude exports to zero. John Kilduff, founding partner […]

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