Oil prices dipped for a second day on Tuesday, but the decline was limited as the global market grapples with the ongoing conflict in Gaza and tight supply concerns. Ceasefire talks remain deadlocked, raising worries about potential disruptions to Middle Eastern oil supplies. However, a projected rise in U.S. crude oil production could offer some relief in the coming months.
Victor Adetimilehin
Victor Adetimilehin
Victor Adetimilehin, widely known as Vic’Adex, is a celebrated global arts in medicine fellow and a staunch ambassador for religious tolerance. Beyond his institutional affiliations, Victor is an incredibly passionate and award-winning spoken word artiste, most notably recognized for his stirring poem, "men not gods." A fervent supporter of pan-Africanism, he actively champions and bolsters Nigerian creative hubs, fostering an environment of artistic growth and cultural exchange. Victor's dedication to the arts and peace advocacy positions him as a vital influencer in bridging cultural gaps.
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BP is nearing a deal to sell some of its mature gas assets in Trinidad and Tobago to Perenco. The move reflects BP’s shift towards deepwater exploration, while Perenco’s arrival could lead to renewed production for the island nation.
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Drone attacks and refinery outages have strained Russia’s fuel supply chain, prompting them to seek gasoline reserves from Kazakhstan.
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Oil prices experienced a significant decline on Monday, dropping more than $1 a barrel as tensions in the Middle East eased. This welcome shift comes after Israel withdrew troops from the Gaza Strip and committed to engaging in renewed ceasefire talks with Hamas.
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Ukraine’s energy infrastructure demonstrates unwavering stability and resilience in the face of ongoing challenges, spotlighting President Zelenskiy’s urgent appeal for international solidarity.
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US oil and gas producers are tapping the brakes on drilling activity. For the third week in a row, the rig count in the United States has dipped, according to energy services firm Baker Hughes. This marks the first such streak since last October, raising questions about future US energy production.
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The United States has clarified its position on India’s purchases of Russian oil, stating they don’t object to India buying discounted Russian crude, as long as Western shipping and financial services aren’t used. This approach aims to limit Russia’s revenue from oil sales without disrupting the global oil supply.
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Oil prices have been on a rollercoaster ride in recent months, and the latest surge above $90 a barrel is causing concern for consumers and businesses alike. This excerpt explores the key factors driving the current oil price spike, including geopolitical tensions, supply disruptions, and the complex interplay of global economic forces.
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The European Union (EU) is investigating two Chinese companies over potential unfair advantages gained through subsidies in their bids for a solar power plant project in Romania. This move highlights the EU’s growing scrutiny of foreign subsidies and their impact on fair competition within the European market.
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Oil major Shell is pushing for a longer license from the US before giving the green light to a natural gas project in Venezuela. The “Dragon” field, located near the maritime border with Trinidad and Tobago, holds significant gas reserves and could provide a vital energy source for both nations.