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Costly Saudi defenses prove no match for drones, cruise missiles

58 mins ago DieselGasoil Comments Off on Costly Saudi defenses prove no match for drones, cruise missiles
RIYADH/DUBAI (Reuters) – Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry. Smoke is seen following a fire at Aramco facility in the eastern Read More

Cycle of panic & death: Humankind totally not ready for global pandemic, emergency preparedness group warns

58 mins ago DieselGasoil Comments Off on Cycle of panic & death: Humankind totally not ready for global pandemic, emergency preparedness group warns
A sudden lethal pandemic could wipe out tens of millions of people, destroy the world’s economies, and leave humanity in chaos, according to a new report from an emergency preparedness body that isn’t alarmist in the slightest. Citing a reactionary “cycle of panic and neglect” in which health emergencies are dealt with as they arise, Read More

GM stops paying for health insurance for striking union workers; talks continue

2 hours ago DieselGasoil Comments Off on GM stops paying for health insurance for striking union workers; talks continue
BOWLING GREEN, Ky. (Reuters) – General Motors Co shifted health insurance costs for its striking workers to the United Auto Workers union as its members walked the picket line for the second day on Tuesday. The UAW on Monday launched the first company-wide strike at GM in 12 years, saying negotiations toward a new national Read More

FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies

4 hours ago DieselGasoil Comments Off on FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies
London — Oil prices fell Tuesday, giving back more than half of Monday’s surge, after Saudi energy minister Prince Abdulaziz bin Salman said he expects most of the country’s lost crude production to be restored within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fast recovery Read More

Oil shock unites China with Asia rivals worried about supply

16 hours ago DieselGasoil Comments Off on Oil shock unites China with Asia rivals worried about supply
By Iain Marlow, Dandan Li and Archana Chaudhary on 9/17/2019 HONG KONG (Bloomberg) – If anything could distract Asia’s top powers from sparring over disputed territory and crimes committed during World War II, it’s the need for cheap oil. Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies Read More

Crude oil futures lower on producer assurances, bearish economic signs

1 day ago DieselGasoil Comments Off on Crude oil futures lower on producer assurances, bearish economic signs
Singapore — Crude oil prices tumbled in mid-morning trade in Asia Tuesday after global producers assured ample availability of oil reserves, allaying supply concerns arising from attacks on Saudi Arabia’s oil facilities, while fresh macroeconomic data weighed on sentiment. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 10:34 Read More

FACTBOX: Crude prices soar as Saudi attacks expose tight global spare capacity

1 day ago DieselGasoil Comments Off on FACTBOX: Crude prices soar as Saudi attacks expose tight global spare capacity
New York — Oil prices rallied Monday as markets evaluated the fallout from the attacks on Saudi Arabia’s key Abqaiq processing facility and Khurais oil field over the weekend. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The threat of an extended supply outage from Saudi Arabia, the world’s Read More

Oil rally holds as traders weigh Saudi supply loss, geopolitical risks

1 day ago DieselGasoil Comments Off on Oil rally holds as traders weigh Saudi supply loss, geopolitical risks
Highlights Market awaits updates from Saudi Arabia Houthis take credit for attack; US blames Iran Global crude stocks tighten New York — Petroleum futures remained bullish Monday as traders evaluated the fallout from the Saturday’s attacks on key Saudi Arabian oil infrastructure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More

Factbox: Crude prices surge as Saudi attacks expose lack of global spare capacity

2 days ago DieselGasoil Comments Off on Factbox: Crude prices surge as Saudi attacks expose lack of global spare capacity
London — Oil markets are feeling the ramifications of the attacks on Saudi Arabia’s key Abqaiq processing facility and Khurais oil field over the weekend, which pushed crude futures up by more than 15% when markets opened Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The threat of Read More

Biggest oil price surge since 1991 as ‘locked and loaded’ U.S. points finger at Iran for attack

2 days ago DieselGasoil Comments Off on Biggest oil price surge since 1991 as ‘locked and loaded’ U.S. points finger at Iran for attack
DUBAI (Reuters) – An attack on Saudi Arabia that shut 5% of global crude output caused the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate. FILE PHOTO: Smoke is seen following a fire at Aramco facility in the eastern Read More