Stories tagged “Global Oil Supplies.”
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Missiles targeting Saudi oil refineries shot down, sources say
Air defence systems in Saudi Arabia intercepted two ballistic missiles from Yemen on Saturday targeting oil refineries in Yanbu on the Red Sea. The defence system was operated by Greek military personnel.
The oil price has climbed back above $100 a barrel for the first time in two months, as a fresh escalation of the Middle East conflict threatens to compound disruption to global oil supplies.
Oil Prices Top $90 as Kuwaiti Tanker Hit in Strait of Hormuz
Oil prices have topped $90 as a Kuwaiti tanker was hit in the Strait of Hormuz, a key shipping route. The incident has reignited concerns about the safety of oil shipments in the region.