Shipping in the Strait of Hormuz has plunged following Iran’s announcement that it has closed the waterway once again over Israel’s strikes on Lebanon, according to ship tracking data. A total of 12 vessels crossed the strait on Sunday, down from 35 transits the previous day, an analysis by maritime intelligence company Windward showed on […]
The energy giant said that a substantial oil-bearing reservoir was found in its Merlin-1X exploration well, which is part of Petroleum Exploration License 39 (PEL 39). It claims that the well produced some of the most promising geological data seen in the licensing area to date, including the existence of light crude oil and high-quality […]
The International Monetary Fund (IMF) said poverty in Nigeria has reached 63% of the population as conditions remain difficult for people amidst economic reform. In a statement released following its Article IV consultation with Nigeria, the IMF said strong reforms over the past three years have improved macroeconomic outcomes and strengthened resilience. The IMF said, […]
Gold prices climbed on Tuesday, reaching $4,467.80 per troy ounce, up 0.36 percent from the previous day, driven by investor bets on further U.S. Federal Reserve interest rate cuts. This momentum extended gold’s remarkable 68 percent year-over-year gain, building on a record high of $4,794.85 hit in December 2025. Market observers noted bolstered safe-haven demand […]
Kelleher and Bessent held talks in recent months about what a move to the US would look like for the lender, with the Trump administration receptive to welcoming one of Switzerland’s most prized assets, according to three people familiar with the conversation. The talks with Bessent are part of an ongoing effort by Kelleher to […]
President Trump said on Tuesday that Washington’s $20 billion bailout for Argentina comes with strings attached — namely, that the ruling party of his ally, President Javier Milei of Argentina, must prevail in the country’s legislative elections this month. “If he loses, we are not going to be generous with Argentina,” Mr. Trump told reporters […]
The United States (US) and China have resumed high-level discussions aimed at addressing ongoing trade tensions between the world’s two largest economies. In a statement on October 18, U.S. Treasury Secretary Scott Bessent confirmed that he held “frank and detailed discussions” with Chinese Vice Premier He Lifeng on Friday evening, focusing on key trade issues. […]
India says it is looking to step up purchases of crude oil and natural gas from the U.S. as it diversifies its energy supplies and confronts criticism by U.S. President Donald Trump over its imports of discounted Russian oil. Trump said Wednesday that Indian Prime Minister Narendra Modi had personally assured him his country would stop […]
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has recently announced an ambitious five-year strategy to expand oil and gas exploration and production across the country. The announcement came during his participation in the opening of the World Energies Summit in London, where he was a keynote speaker. The plan includes drilling around 480 […]
China’s Commerce Ministry on Sunday slammed the Donald Trump-led US government’s plan to impose another 100% tariff on Chinese imports (up and above the existing levies), calling it a “classic case of ‘double standards’.” Amid rising trade tension between the two trade giants, Beijing restated its consistent stance and said it does not “want to fight, but are […]