Oil Prices

Saudi Aramco’s profit soars as oil prices surge

The state-owned oil producer, which is at par with Apple as the world's most valuable company, reported an almost 82 percent rise in the first-quarter net profit.

BP posts $20B quarterly net loss on Russia exit

The company was pushed into a headline loss of $20.4 billion in the quarter following its decision in February to pull its 19.75-percent stake in Russian energy group Rosneft.

Oil prices rise on concerns over supply from Russia, Libya

Analysts say market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for the country's military operation in Ukraine.

Biden weighs massive release of oil to combat inflation

US President Joe Biden is planning to order the release of up to 1 million barrels of oil per day to control spiked energy prices, AP news agency reports.

Could China benefit from the Ukraine crisis?

Beijing will make some gains from the conflict as its sanctions-hit ally Russia will need China for goods and equipment more than ever.

Oil rockets, gold tops $2,000 as Ukraine war hits global economy

Sanctions on Russia have already rattled through international markets, hitting European equities in particular.

'Not our war': Gulf countries resist Western pressure to raise oil output

Oil-rich Gulf countries, which suffered from declines in oil prices since 2014, experts say, seem all the more reluctant to take immediate action as they benefit from the short-term price surge.

Markets tumble, oil prices rise on Ukraine conflict fears

After sharp Wall Street losses on Friday, the dip continued in Asia at the start of the week while oil prices closed in on the $100-a-barrel mark on fears over the Russian invasion of Ukraine.

Oil prices decline ahead of US interest rate decision

US Department of Energy approves an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.

Kazakhstan's Tokayev orders rebuilding of riot-hit Almaty

Kazakh leader asks local authorities to make his birthplace and former capital Almaty "look even better than before" after days of violent clashes between police and rioters damaged the city.

Japan to auction off 600,000 barrels of oil from national reserves

The industry ministry's decision to sell crude oils is part of a US request to cool mounting oil prices.

Why the UAE-Saudi differences will continue to escalate

Saudi resentment against the UAE, its main ally, grows further from the Yemen war to OPEC differences. Abu Dhabi, however, continues to pursue a foreign policy that conflicts with Riyadh's.