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BRENT OIL FALLS TO LOWEST LEVEL SINCE MARCH AS MARKETS BET ON U.S.-IRAN PEACE DEAL.
Brent crude prices dropped to their lowest levels since March as growing optimism over a possible peace agreement between the United States and Iran eased fears of prolonged supply disruptions in the Middle East. The sharp decline reflects shifting business sentiment in global energy markets, improving economic expectations linked to lower fuel costs, and major geopolitical developments surrounding negotiations aimed at ending tensions in the Gulf region. Traders and investors are increasingly betting that a breakthrough deal could reopen the Strait of Hormuz and stabilize global oil flows after weeks of severe disruption.
- 2 months
CHINA BEGINS TAPPING OIL STOCKPILES AS MIDDLE EAST CRISIS DRAGS ON
China began drawing from its substantial oil reserves in May, roughly three months after the Middle East conflict disrupted around 10% of global oil supply.
- 2 months, 1 week
DANGOTE REFINERY MOVES TO RESTORE FULL GASOLINE OUTPUT AS AFRICA WATCHES FUEL SUPPLY PRESSURES.
Nigeria’s Dangote Refinery is expected to restore full gasoline production by mid-June after weeks of reduced operations caused by technical challenges and feedstock adjustments, a development carrying major business, economic and geopolitical significance for Africa’s energy market. The refinery’s recovery comes as global fuel prices remain elevated due to Middle East tensions and supply disruptions, increasing the importance of regional refining capacity. As Africa’s largest refinery resumes normal operations, markets are closely monitoring its ability to stabilize fuel availability, strengthen regional trade flows and reduce dependence on imported petroleum products from Europe and the Gulf.
- 2 months, 1 week
CANADA LAUNCHES LOAN PROGRAM TO HELP AIRLINES DEAL WITH HIGH FUEL PRICES
The Canadian government has introduced a new loan program aimed at helping domestic airlines cope with rising fuel costs and continue supporting jobs and operations.
- 2 months, 1 week
OIL FALLS AFTER LEBANON AND ISRAEL AGREE ON A CEASEFIRE
Oil prices declined on Thursday after Israel and Lebanon agreed to a ceasefire, raising optimism that broader diplomatic efforts could ease tensions across the Middle East.
- 2 months, 2 weeks
TANZANIA TO BUILD 10 MORE CNG STATIONS IN MAJOR PUSH FOR CHEAPER TRANSPORT ENERGY.
Tanzania is accelerating its transition toward cleaner and cheaper transport energy with plans to construct 10 additional Compressed Natural Gas (CNG) stations across the country, strengthening the government’s strategy to reduce fuel costs, expand energy access, and increase the use of the country’s vast natural gas resources. The expansion reflects growing national efforts under President Samia Suluhu Hassan to modernize the energy sector, lower dependence on imported fuel, and position Tanzania as a leading regional player in gas-based transport and industrial development.
- 2 months, 2 weeks
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