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Keywords: Reserves
Oil markets swung sharply Monday after crude prices climbed above $100 per barrel for the first time since Russia’s invasion of Ukraine in 2022, while G7 governments debated whether to release strategic petroleum reserves to counter disruptions caused by the war involving the United States, Israel......
Finance ministers from the Group of Seven held an emergency virtual meeting Monday to discuss a coordinated release of strategic oil reserves as global crude prices surged above $100 per barrel amid the escalating conflict involving Iran. The call, scheduled for 08:30 Eastern Time, included International......
Hungary’s state controlled energy company MOL has ordered its first seaborne deliveries of Russian crude to be routed through Croatia, marking a new phase in an energy supply dispute involving Kyiv, Budapest and Bratislava after damage to the Druzhba pipeline in late January. Foreign Minister......
The government of Venezuela called Tuesday for a “negotiation in good faith” with neighboring Guyana to resolve their long-standing territorial dispute over the vast Essequibo region, a contested territory rich in oil and other natural resources. Essequibo, a 160,000-square-kilometer area......
The Arab world holds some of the largest proven oil and natural gas reserves on the planet, reinforcing its central role in global energy security and international commodity markets. Recent data drawn from leading industry sources, including OPEC, BP Statistical Review and the US Energy Information......
A Russian airstrike on January 27 damaged critical infrastructure along the Ukrainian section of the Druzhba pipeline, halting the flow of Russian crude oil to Hungary and Slovakia and triggering a diplomatic clash between Budapest and Kyiv ahead of Hungary’s parliamentary elections. Ukrainian......
Goldman Sachs has cautioned that global commodity markets have entered what it describes as an “era of high volatility,” driven by governments building strategic stockpiles that are fragmenting a once integrated global system and making prices more sensitive to disruptions. In a report published......
The Chinese yuan climbed to its strongest level in 33 months against the US dollar on Monday, extending its longest winning streak in more than a decade after reports that Chinese regulators advised domestic banks to reduce exposure to US Treasury bonds. The yuan traded as high as 6.9284 per dollar......
Japan announced Monday it has successfully retrieved sediment rich in rare earth elements from 6,000 meters under the Pacific Ocean, achieving the world's first extraction of these strategic minerals at such extreme depths. The breakthrough comes as Tokyo aims to cut heavy reliance on Chinese imports......