Oil
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Strait of Hormuz Closure Could Push Oil Past $98 and Cut Global Growth, Dallas Fed Says
MUSCAT, July 8 — Global energy markets are watching a narrow stretch of water with renewed concern this…
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Oil Prices Surge 6% After Trump Declares US-Iran Ceasefire Over
WASHINGTON, July 8 — The headline number: 5.8 percent. That is how much Brent crude futures surged on…
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Oil Above $100 Pushes Up Gasoline, Groceries and Heating Costs, Analysts Warn
WASHINGTON, July 8 — The nearly 6% jump in oil prices on March 30 is about to hit…
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Oil Reserves and Shipping Chokepoints Leave Global Supply Exposed, Analysis Finds
WASHINGTON, July 8 — A 21-mile-wide maritime chokepoint carries roughly one-fifth of the world’s daily oil consumption. That…
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US Strikes on Iran Rattle Global Oil Prices and Supply
TEHRAN — The aftershocks of a single day of military action are still being felt in global energy…
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Ukrainian Drones Hit Russia’s Largest Oil Refinery in Omsk, Siberia
ST. PETERSBURG, July 7 — The shift is unmistakable: a strategic strike on a flagship refinery has opened…
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How Oil Grew From One Pennsylvania Well Into a Force in the Global Economy
WASHINGTON, July 7 — The story of petroleum is one of discovery, power, and profound economic consequence. For…
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Ukrainian Drone Strike Halts Omsk Refinery, Russia’s Largest, Industry Sources Say
OMSK, Siberia — The idea that Siberia’s vastness offered a natural shield from conflict is quietly slipping away.…
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Ukraine Says Strikes Have Disabled Over 51% of Russia’s Oil Refining Capacity
MOSCOW, July 7 — The shift is subtle but unmistakable: Russia’s refining machine, once a sprawling engine of…
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Russia Bans Diesel Exports After Ukrainian Drone Strikes on Its Refineries
MOSCOW, July 7 — Russia’s oil refining sector processed approximately 275 million tons of crude oil in 2023,…
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Putin Says Ukrainian Refinery Strikes Cost Russia About 1% of GDP
MOSCOW, July 7 — The mechanics here are brutal in their simplicity: Ukrainian drone strikes hit Russian oil…
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Ukraine Hits Omsk Oil Refinery in Deepest Strike of the War, Moscow Responds
OMSK, July 7 — The shift is quiet, but its implications are enormous. Russia’s largest oil refinery, the…
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Ukraine Says Drones Hit Omsk Refinery in Deepest Strike Into Russia Yet
OMSK — A drone strike on May 9, 2024, that ignited a processing unit at the Omsk Refinery…
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Kirishi Refinery, Russia’s Second-Largest, Halted After Repeated Drone Strikes
MOSCOW, July 7 — The shift is subtle but unmistakable. Russia’s largest oil refinery, the Kirishi refinery —…
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Strait of Hormuz Disruption Pushes Brent Above $90, UNCTAD Says
TEHRAN, July 7 — The Strait of Hormuz, a narrow waterway that has long been the flashpoint for…
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Global Oil Prices Surge as Strait of Hormuz Shipping Halts
DUBAI, July 7 — Global oil markets are still feeling the shockwaves from an attack more than a…
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Saudi Arabia Reroutes Oil Across the Desert to Yanbu After Hormuz Closure
TEHRAN, July 7 — A narrow ribbon of water between Iran and Oman is getting renewed attention from…
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Attacks on Strait of Hormuz Push Global Oil Prices Higher
DUBAI, July 6 — Global oil markets are once again staring down the barrel of disruption in the…
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Fuel shortages grip Russia as war strains supply chains
MOSCOW, July 3 — The shift is subtle but unmistakable. As Russia intensifies its military campaign against Ukraine,…
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Putin dismisses refinery strikes as fuel shortages grow
MOSCOW, July 3 — President Vladimir Putin has downplayed the impact of Ukraine’s widening attacks on Russian oil…
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Alberta Wildfires and U.S. Sanctions Hit Canadian Energy Hard
EDMONTON, June 28 — 344,000 barrels per day offline. That is the figure that matters in Alberta right…
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Strait of Hormuz closure threatens plastics and fertilizer supply, Atlantic Council analysts warn
SYDNEY — The Strait of Hormuz crisis has done something unusual. It has made visible a fact the…
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Strait of Hormuz crisis shows oil’s role in more than 6,000 everyday products
Oil’s reach goes far beyond the fuel tank SYDNEY — The Strait of Hormuz crisis has done more…
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Hormuz Closure Pushes Oil to $119 a Barrel as Gulf Storage Fills Up
The crisis in the Strait of Hormuz did not start at sea. It started in the ground, decades…
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