Japanese refiners have started weighing alternative crude supply sources that would not need to transit through the Strait of Hormuz, including from the Red Sea side in Saudi Arabia, West Africa and the US, amid rising tensions in the region, Petroleum Association of Japan President Takashi...
After being hit by the trade war and US sanctions on Iran, some Chinese buyers of liquefied petroleum gas from the Persian Gulf nation are finding it is too tough a habit to kick.
China sourced around a fifth of its LPG -- used as cooking fuel, in cigarette lighters and to make plastic -- from...
Oil prices rallied towards $65 per barrel on fears of a US military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output.
Brent crude was up 42 cents, or 0.66%, at $64.87 a barrel.
The global benchmark jumped 4.3% on Thursday and...