Russia-Ukraine Issue Boosts Oil Prices

Oil prices soared once again on Thursday as fears of the conflict between Russia and Ukraine intensified. If Russia continues with its plan of invading Ukraine, the energy supply line to Europe could be disrupted. 

The heightened fear of this happening sent the Brent crude rising b...

US FILES A SUIT IN AN ATTEMPT TO SEIZE 2 MILLION OIL BARRELS, SAYS IT IS IRANIAN

Highlights

• The United States has filed a case in an attempt to seize 2 million oil barrels that it claims of coming from Iran

• It also said that the terrorist outfits use oil money for purchasing weapons of mass destruction and carry out human rights abuses

S KOREAN AVIATION FUEL INFLUX RETRACTS BY 40% ON WEAK GLOBAL FUEL DEMANDS

• The consumption of jet fuel in South Korea saw a 40.5 percent year-on-year drop during the first quarter this year, according to the latest data feed from the Korea National Oil Corporation.
• With most international flights from Korea canceled due to weak travel demand and inter...

SAUDI ARABIA IN AN AGGRESSIVE BID TO TILT THE OIL MARKET SHARE IN ITS FAVOR

• Saudi Arabia accused of decimating the rival oil producing nations by increasing oil stakes in an oil-inundated market
• Saudi Arabia has made intentions clear by refusing to act as the steadying force in a crumbling market.

An increase in oil reserves in all co...