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Oil slips as market assesses fallout from Saudi attack

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LONDON (Reuters) – Oil prices slid on Tuesday, although the market remains on tenterhooks over the threat of a military response to attacks on Saudi Arabian crude oil facilities that halved the kingdom’s output and prompted a price spike not seen in decades. Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, Read More

Factbox: Britain’s insulin providers prepare for Brexit fallout

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FILE PHOTO: The logo of Sanofi is seen at the company’s research and production centre in Vitry-sur-Seine, France, August 6, 2019. REUTERS/Charles Platiau LONDON (Reuters) – With Britain sourcing the vast majority of the insulin needed by its 1 million diabetics from overseas, its biggest providers have had to restructure their supply chains in case Read More

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

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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

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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

Fallout from Saudi attacks highlights shift in ties with US

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Highlights Shale growth has flipped US-Saudi relations US imports of Saudi crude have fallen to historic lows Displaced Saudi barrels could be filled by light US crude Washington — The US-Saudi relationship may have been upended by the growth of US shale long before Saturday’s attacks on Saudi oil infrastructure, but the historic shift may Read More

Attack on Saudi oil facilities puts focus back on geopolitical risk

3 days ago DieselGasoil Comments Off on Attack on Saudi oil facilities puts focus back on geopolitical risk
As Saudi Arabia seeks to reassure customers that their crude supplies would see limited impact from the weekend’s drone attacks on its critical crude processing plant, analysts said its significant volumes of oil in storage should help keep exports flowing and mitigate any disruption in the short-term. Not registered? Receive daily email alerts, subscriber notes Read More

The Americans will see attack on Saudi oil as an attack on them

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One of the two oil facilities struck in the early hours of Saturday morning was recently described by one industry expert as the the Achilles Heel of the Saudi oil industry. Its size and production capacity makes it a critical part of the global oil supply industry. It’s not yet clear how much damage was Read More

‘No rational human being can talk of a nuclear war’ – Imran Khan to RT

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The further escalation between nuclear-armed rivals India and Pakistan may lead to “unimaginable” fallout so the world must intervene to help avoiding that, Pakistani Prime Minister Imran Khan told RT in an exclusive interview. The “explosive” situation in Kashmir could escalate “way beyond” the Indian subcontinent, Khan told RT’s Paula Slier. He reminded that it would Read More

Record low rates deliver competitive advantages to Australia’s biggest banks: regulator

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SYDNEY (Reuters) – Australia’s banking watchdog on Friday said record-low interest rates are likely to benefit the country’s “Big Four” lenders over their smaller counterparts due to their better capital position and access to cheaper funds. FILE PHOTO: A man uses his mobile phone as he leaves the Commonwealth Bank of Australia building in central Read More

10,000+ cases under review in Denmark after phone data glitch used to convict the innocent

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Dozens of prisoners have been released and over 10,700 criminal cases are under review after Danish police realized the software they use to pinpoint the location of cellphone users is riddled with inaccuracies. Some 32 prisoners – some of whom had already been convicted and sentenced – were released after an external audit launched late Read More