After decades of membership, the United Arab Emirates has decided to quit the oil producers’ group, OPEC, in order to focus on “national interests” and forge its own path, it has said. The move is seen as a major blow to the Vienna-based oil cartel – but will not spell the end of it altogether,…
To Kevin M. Warsh, the Federal Reserve’s more than $6 trillion portfolio of government bonds and mortgage-backed securities is emblematic of everything that has gone wrong at the institution he hopes to lead. The Fed’s decision to expand its portfolio by so much and so quickly since the 2008 global financial crisis has stoked inflation,…
The European Union warns that the deal on the link to Croatia could jeopardise Bosnia’s bid to join the bloc. Published On 28 Apr 202628 Apr 2026 Bosnia and Herzegovina has signed a deal to construct a gas pipeline that is backed by investors connected to United States President Donald Trump and promises to reduce…
Brent crude rises more than 1 percent despite Tehran’s offer to reopen waterway in exchange for deferral of nuclear talks. Published On 28 Apr 202628 Apr 2026 Oil prices are continuing to climb despite Iran’s proposal to end its effective blockade of the Strait of Hormuz in exchange for deferring nuclear negotiations with the United States. Brent…
The artificial intelligence boom has one big thing holding it back: energy. A.I. companies rely on power-hungry data centers to train their models, and they need gigawatts of power to keep them humming. With only so much energy to go around and only so much funding to build new infrastructure, it’s fiercely competitive out there….
A view shows a board with the logo of Shell at the company’s fuel station in Saint Petersburg, Russia May 6, 2022. Anton Vaganov | Reuters British oil major Shell on Monday said it agreed a deal to buy Canadian energy company ARC Resources in an output-boosting deal valued at $16.4 billion. The transaction will…
Brent crude rises more than 2 percent after Washington and Tehran fail to hold second round of talks in Pakistan. Published On 27 Apr 202627 Apr 2026 Oil prices have climbed higher amid stalled peace talks between the United States and Iran. Brent crude rose more than 2 percent on Sunday after hopes for a…
This handout photo released by the Iranian Foreign Ministry on April 25, 2026 shows Pakistan’s Army Chief and Field Marshal Syed Asim Munir (3rd R) meeting with Iran’s Foreign Minister Abbas Araghchi (3rd L) upon his arrival in Islamabad. (Photo by Iranian Foreign Ministry / AFP via Getty Images) / XGTY / RESTRICTED TO EDITORIAL…
Additional work by Jana Tauschinski Oil and gas tanker location and destination data are from Kpler. The map shows the latest position for vessels with an active AIS signal on April 19–20, filtered by minimum capacity thresholds: crude tankers of at least 50,000 deadweight tonnage (DWT); oil product tankers of at least 55,000 DWT; oil/chemical…
Ukraine has succeeded in depriving Russia of much of the windfall profits it would have made from oil exports during March and April, as the war in the Gulf sent prices soaring to above $100 a barrel, a series of sources suggest. Ukraine intensified a long-range strike campaign against Russian port and energy infrastructure on…
