Economy
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Oil Hits Two-Week High as Hormuz Stays Shut and US Lets Russian Waiver Lapse
GENEVA, July 25 — The US Treasury issued a 60-day waiver on sanctions covering Iranian oil exports on…
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Houthi Blockade of Saudi Arabia Pushes Brent Crude Above $100 a Barrel
RIYADH, July 20 — The Houthi blockade declaration in the Red Sea has sent a jolt through global…
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US and Saudi Arabia Sign Civil Nuclear Agreement Giving American Firms Access
RIYADH, July 22 — Saudi Arabia has thrown open its civilian nuclear market to U.S. companies, a move…
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OPEC+ keeps output steady despite rising geopolitical tensions
VIENNA, July 21 — The 23-nation OPEC+ alliance holds a spare production capacity of roughly 4 to 5…
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Russia’s Central Bank Sells Gold for a Tenth Straight Month, Ukrainian Intelligence Says
MOSCOW, July 21 — The shift in global gold flows is becoming harder to ignore. Russia, the world’s…
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Texas, Spain and Norway show the risks of putting households on wholesale electricity prices
WASHINGTON, July 21 — At a suburban utility substation outside Denver, the digital readout on a transformer flickers…
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EIA Reports Crude Stocks Drop 6.1 Million Barrels in June
WASHINGTON, July 21 — Every Wednesday morning, the ritual unfolds quietly behind the scenes. At 10:30 AM Eastern,…
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Natural gas price swings drive rising US electricity rates
WASHINGTON, July 21 — In the corridors of global energy markets, a quiet but consequential shift has been…
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U.S. oil reserve falls to its lowest level since 1983 as Trump releases barrels
WASHINGTON, July 21 — The underground salt caverns of the Strategic Petroleum Reserve, buried deep in the earth…
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Hormuz squeeze pushes Southeast Asian states toward Russian oil as fuel prices soar
MANILA, July 20 — For communities across Southeast Asia, the fuel that powers daily life—from motorbikes in Hanoi…
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Strait of Hormuz Closure Drives Fuel Prices and Subsidy Bills Up Across Southeast Asia
MANILA, July 20 — For the ten economies of Southeast Asia, a hypothetical closure of the Strait of…
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US Strategic Petroleum Reserve Falls to 357.1 Million Barrels, Lowest Since January 2024
WASHINGTON, July 19 — The Strategic Petroleum Reserve sits at roughly half its size from just a few…
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Canada unveils new east-west pipeline to reduce U.S. oil reliance
OTTAWA, July 19 — Canada holds 158.9 billion barrels of oil reserves, almost entirely in Alberta, and ships…
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Hormuz Disruption Pushes Brent Crude Above $120 a Barrel
DUBAI, July 19 — The Strait of Hormuz, a 39-kilometer-wide chokepoint between Oman and Iran, carries roughly 20…
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British Steel nationalised to secure UK’s steel supply
LONDON, July 17 — British Steel Limited is now a state-owned enterprise. The nationalisation took effect on 16…
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George Mitchell, Oilman Who Proved Shale Gas Could Pay After 17 Years of Trying
HOUSTON, July 14 — The figure that matters: $250 million. That is what George P. Mitchell poured into…
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How the Petrodollar System Took Shape After the 1973 Oil Shock
LONDON, July 14 — The mechanism that has underpinned global oil trade for half a century is the…
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Oil Transit Data Reveals Tanker Traffic and Economic Dependence
LONDON, July 13 — The United States Energy Information Administration has published a detailed assessment of the Strait…
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US Launch Cost Per Kilogram Is a Third of Europe’s, New Study Finds
LOS ANGELES, July 14 — The commercial space launch market is in the midst of a pricing war…
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Oil steadies above $78 after Trump drops 20% Hormuz cargo fee
LONDON, July 14 — The global shipping industry and oil markets are breathing a collective sigh of relief…
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Kpler Analyst Suspects Gulf States Pay Iran Tolls to Move Oil Through Hormuz
BEIJING, July 13 — Brent crude oil futures rose 3.2 percent to $87.50 per barrel on March 18,…
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Putin Admits Fuel Rationing as Ukrainian Strikes Hit Russian Refineries
MOSCOW, July 13 — The arithmetic of Russia’s war economy is becoming harder to balance. Oil and gas…
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Strait of Hormuz: geography, history and why Asia depends on it
MANAMA, July 13 — The Strait of Hormuz, a narrow waterway that connects the Persian Gulf to the…
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Drone Strikes on Baltic Ports Cut Russian Oil Exports by About $970 Million in a Week
MOSCOW, July 13 — Russia’s oil exports declined by 10% in 2024 compared to the previous year, according…
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