Qatar Cuts Prices for Its Oil

Qatar has followed Saudi Arabia in cutting the price of its al-Shaheen crude for May deliveries, Reuters has reported, citing trade sources. Al-Shaheen for delivery in May will now cost $1.29 per barrel above the Dubai benchmark—or less. According to the Reuters...

Russia Switches to Crypto in Oil Trade

Russia is increasingly using cryptocurrencies in its oil trade with top clients China and India amid U.S. sanctions, Reuters has reported, citing unnamed sources, who said Russian oil traders were using the cryptocurrencies to facilitate the conversion of yuans and...

Iran Sanctions Prop Up Oil Prices

A new round of sanctions targeting Iran’s oil industry and the country’s oil minister boosted oil prices earlier today, offsetting the negative effect of the International Energy Agency’s latest monthly report, released Thursday. At the time of writing, Brent crude...

Drillers Brace for Fallout from Steel, Aluminum Tariffs

Oil and gas drillers are bracing for the effects of the latest round of tariffs that President Trump has adopted in his attempts to revive domestic industries and punish U.S. trade partners for what he sees as unfair treatment for years. Luckily, the effect is...