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Indian Oil Corp., India's largest refiner, plans to purchase at least 24 million barrels of Brazilian crude in the next two years. The diversification strategy will help the company mitigate potential supply disruptions from its traditional crude oil suppliers and secure competitive prices.
Global Chaos: Floods, Oil Prices, and Scandals Floods ravage Brazil and Australia, oil prices surge despite reserve releases, and scandals rock Haiti and the culinary world.
China's largest oil buyer, Unipec, is reportedly looking to buy Canadian crude. The move comes after US sanctions against Venezuela have cut off the flow of crude.
Oil prices drop to $94.27 per barrel, while SpaceX prepares for a historic IPO and Snapchat limits user sharing.
The Iran war has sent shockwaves through global markets, with oil prices surging past $100 a barrel for the first time in four years.
Conflict drives crude oil prices past $100 per barrel, with far-reaching economic implications
The US-Iran war has entered its second week, with oil prices surging past $100 a barrel and Dow futures sinking 800 points.
Oil prices soared above $70 a barrel following US threats against Iran. Meanwhile, memory prices continued to rise, threatening Nintendo's profitability. Elsewhere, the US and India discussed expanding their coal trade. Germany explored defense exemptions to secure energy infrastructure.
Oil prices remained relatively stable on Friday, pausing their three-day rally. The price of crude oil had surged more than 3% on Thursday, reaching a high of $63.05 per barrel. The rally was triggered by escalating tensions between the United States and Iran.