Charles Kennedy

6 days ago | oilprice.com | Charles Kennedy

The cost of shipping Russian crude from its ports in the Baltic Sea to India has dropped this month as the price of Russia’s flagship crude grade, Urals, slid in early April to below the G7 price cap, which increases the availability of tankers. The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling.

6 days ago | oilprice.com | Charles Kennedy

At least 58 people were killed in U.S. air strikes on a fuel port in Yemen, Houthi-run Al-Masirah TV said on Friday, in what could be the deadliest U.S. attack in Yemen since U.S. President Donald Trump ordered strikes on targets of the Iran-aligned rebels a month ago. In the middle of March, the U.S. began air strikes on Houthi targets in Yemen, with the U.S. Department of Defense stating the attacks would continue until the Houthis stop attacking ships traversing the Red Sea.

6 days ago | oilprice.com | Charles Kennedy

The United States will abandon efforts to broker a Russia-Ukraine peace agreement if progress isn’t made very soon and unless clear signs emerge that a deal can be reached, U.S. Secretary of State Marco Rubio said on Friday. “We're not going to continue with this endeavour for weeks and months on end. So we need to determine very quickly now, and I'm talking about a matter of days whether or not this is doable in the next few weeks,” Secretary Rubio said.

1 week ago | oilprice.com | Charles Kennedy

The Bicentenario crude oil pipeline in Colombia has been shut down following an explosion that state oil company Ecopetrol said was caused by a guerrilla attack. Per a Reuters report citing the company, the Bicentenario pipeline was hit by the National Liberation Army. Reuters notes the NLA is the largest guerrilla organization in Colombia and is considered a terrorist group by the United States and the European Union.

1 week ago | oilprice.com | Charles Kennedy

Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest private port operator, has announced a $2.4-billion non-cash deal to acquire the North Queensland Export Terminal (NQXT) in Australia, as Adani seeks to jumpstart its global expansion plans. Adani ports CEO Ashwani Gupta described as “pivotal” the transaction, which involves the issuance of 14.38 crore equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related entity controlled by the Adani family.