Middle East

Bangladesh has raised fuel prices by up to 17.4 percent, its third hike since April, as the Middle East conflict drives up global oil and shipping costs.

Japan’s oil refiners have secured enough crude through November despite Middle East tensions, the Petroleum Association of Japan said, drawing on national reserves.

Australia’s energy minister will visit Saudi Arabia next week over fuel security fears, as the escalating Middle East conflict threatens global oil supply.

Gulf states called off a planned meeting with Iran as Yemen’s Houthis struck a Saudi airbase, sending oil prices higher amid a widening Middle East war.

Brent crude rose above $100 a barrel for the first time since July as escalating Middle East conflict deepened fears over regional oil supply.

Iran says it will soon declare a new restricted zone in the Gulf and new Strait of Hormuz shipping maps, as fresh US-Iran attacks on ships lifted oil prices.

Asia’s diesel exports to Africa are set to hit a four-and-a-half-year high in August as buyers replace falling Middle East supply disrupted by shipping risks.

Shipping through the Strait of Hormuz slowed over the weekend after tanker attacks, with only five commodity vessels crossing on Saturday and none on Sunday.

Oil prices rose in volatile trade on Wednesday after attacks on two ships and stalled US-Iran talks renewed worries about Middle East supply disruptions.

KEY POINTS ExxonMobil is bracing for a noticeable decline in its oil and gas output as escalating tensions in the Middle East continue to disrupt operations across the region. The …