The Saudi Arabian King will not last even for two weeks without US backing; warns President Trump

The Saudi Arabian King will not last even for two weeks without US backing; warns President Trump

Washington: ‘The United States is protecting Saudi Arabia. Saudi Arabia is a rich country and I have respect for King Salman. But the Saudi King should realise that the United States is protecting them. Without the United States, the Saudi King cannot remain in power for more than two weeks. You will have to pay […]

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Crude rates will flare up due to new sanctions by the US against Iran; warns Iranian Deputy Foreign Minister

Crude rates will flare up due to new sanctions by the US against Iran; warns Iranian Deputy Foreign Minister

New York: ‘If the United States imposes fresh sanctions against Iran, it will have a severe effect on the crude oil prices in the international markets. This will also add to the woes of the United States’ allies in the Gulf,’ sternly warned e Iranian Deputy Foreign Minister, Abbas Araghchi. International analysts had already warned […]

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Saudi and Russia reject US President’s demand to increase oil production to control price rise

Saudi and Russia reject US President’s demand to increase oil production to control price rise

Riyadh/Moscow: Saudi Arabia and Russia have rejected the demand by US President Donald Trump to increase the oil production. There are indications of tension rising between the United States and Russia-Saudi over the oil issue. Trump had demanded that the OPEC countries should increase the oil production in view of the increasing fuel prices. But […]

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Oil rates may hit $100 a barrel, warn international financial institutions and leading oil companies

Oil rates may hit $100 a barrel, warn international financial institutions and leading oil companies

London/Washington: The oil rates jumped by 2% on Monday to settle at $80 per barrel. This takes the oil rates to its highest level since November 2014. This jump will continue and by the beginning of the year 2019, the oil rates would cross $100 per barrel, warned the companies from the oil sector. Severe […]

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Saudi stops marine oil shipments following the attack on the oil tanker by Houthi rebels

Saudi stops marine oil shipments following the attack on the oil tanker by Houthi rebels

Riyadh/London: The oil shipments are being affected by the Houthi conflict in Saudi Arabia and Yemen. The Houthi rebels attacked a Saudi Arabian oil tanker passing through the Bab Al Mandab Strait. Cautioned by this attack, Saudi has stopped the oil shipments to Europe passing through this marine sector. This has had its effect on […]

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Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Washington: The experts and analysts in the oil sector have claimed that crude oil rates could rise up to $120 due to the sanctions imposed by the United States on Iran and the trade war in the global economy. The oil supply from Iran has declined since the European and Asian countries have taken steps […]

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Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Washington/Riyadh: President Trump made a sensational claim that the Saudi Arabian ‘King Salman’ has expressed willingness to increase the crude oil production by 2 million barrels. Although, Saudi has accepted the report about a discussion between the US President and King Salman, it has refused to comment on the matter of any such firm commitment […]

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Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

London/Washington/Tehran: The crude oil prices have once again surged against the backdrop of US President, Donald Trump’s deadline to withdraw from the Iran Nuclear Deal and the Venezuelan economic crisis. On Monday, the crude oil prices in the global markets rose to $75 making it the first time since Nov 2014 to hit its highest […]

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India takes initiative to control fuel prices taking major buyers China, Japan and South Korea together

India takes initiative to control fuel prices taking major buyers China, Japan and South Korea together

New Delhi: When the crude oil prices crossed the $70 per barrel mark, financial experts raised an alarm saying that the ‘festive season’ for the Indian economy has now come to an end. After the oil producing countries decided to reduce crude oil production, crude oil prices began rising and reached an all-time high of […]

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Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

Riyadh/Moscow: The crude oil prices jumped by about 2% and surpassed the mark of $74 per Barrel. This was the highest rise in the last three and a half years. The reason attributed to this rise is the tension in the Gulf and regression in the United States oil reserves. In this scenario of escalating […]

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