Global oil prices extended their rally on Wednesday, rising for a fifth consecutive session as fears of potential supply disruptions from Iran overshadowed signs of increasing output elsewhere. Markets remained on edge amid growing concerns that escalating tensions between the United States and Iran could disrupt crude flows from the…
Tag: #EnergyCrisis
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Oil Prices Surge 5% After US Sanctions on Russian Giants
Global oil prices spiked sharply on Thursday after the United States imposed sweeping sanctions on Russia’s largest oil companies, Rosneft PJSC and Lukoil PJSC. Brent crude surged by more than 5%, trading near $66 a barrel — its biggest single-day gain since the Israel-Iran conflict began in mid-June. The sanctions,…
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Ukraine PM Condemns Russia’s Largest Drone Strike on Kyiv
Russia carried out its largest drone and missile attack on Kyiv since the beginning of the war, killing at least two civilians and damaging a key government building. Ukraine responded by targeting Russia’s Druzhba oil pipeline, escalating tensions further as peace talks remain stalled. Kyiv Government Building Hit For the…