Russian conflict News Updates

Disruptions in the Strait of Hormuz and damage to Persian Gulf refineries, as well as a wave of Ukrainian attacks on Russian plants, have severely constrained exports from exporting regions.

Adjusted net income rose to $9.8 billion, more than doubling from a year earlier, London-based Shell said in a statement.

The Bloomberg Agriculture Spot Index, which tracks 10 major crop products, reached the highest since July 2023 on July 22, advancing for a seventh week.

Key members led by Saudi Arabia and Russia will hold a monthly video conference Jan. 4, and review a decision to halt further supply hikes in Q1 after rapidly reviving production earlier this year.

The wager reflects growing sentiment among some of the world’s most prominent energy forecasters that the oil market will be oversupplied by the end of the year.

When Russian military forces invaded Ukraine in February, Sergey Bort’s thoughts immediately turned to family.

Officials within President Joe Biden’s administration are hunting for ways to head off a feared spike in oil prices later this year, including the possibility of an additional release from the nation’s emergency crude reserves.

President Joe Biden told U.S. oil refiners that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity as the soaring price of gasoline feeds record inflation and fears of a recession.

Removing sea mines near Ukraine’s key ports could take months, and hundreds of seafarers still are stranded in the region after Russia’s invasion of the country, according to the United Nations agency responsible for shipping safety.

Russia will take control of French car manufacturer Renault’s operations in the country and resurrect a Soviet-era auto brand, officials said May 16, marking the first major nationalization of a foreign business since the war in Ukraine began.