EghtesadOnline: Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Persian Gulf War in 1991, after an attack on Saudi oil facilities on Saturday shut over 5% of global supply.
EghtesadOnline: Saudi Arabia shut down half its oil production Saturday after a series of drone strikes hit the world’s largest oil processing facility in an attack claimed by Yemen’s Houthi fighters.
EghtesadOnline: OPEC oil output increased in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by US sanctions on Iran, a Reuters survey found.
EghtesadOnline: China's crude oil imports from Iran rose 4.7% month on month to 926,119 bpd in July, while the US ranked as the eighth largest crude supplier as shipments surged to a 13-month high of 362,364 bpd, data made available Tuesday by China's General Administration of Customs showed.
EghtesadOnline: A possible trade deal with the US will do little to mitigate the impact of Britain leaving the EU without a deal in place, economists have told CNBC.
EghtesadOnline: In an apparent tit-for-tat move, South Korea said Monday it will remove Japan from its "whitelist" of trusted trade partners, an act that risks further exacerbating tensions between the two US allies.
EghtesadOnline: The International Monetary Fund is urging the world’s two largest economies to resolve the escalating trade war quickly and fairly.
EghtesadOnline: HSBC ousted John Flint as chief executive after just 18 months in a shock move the chairman of Europe’s biggest bank said was needed to speed up progress on priority areas such as the turnaround of its US business.
EghtesadOnline: The world’s biggest oil companies have been steadily shifting investments toward natural gas, driven by an emerging globally traded market and environmental concerns. But right now they are taking a hit as prices tank.
EghtesadOnline: EU ministers on Friday chose the Bulgarian number two of the World Bank Kristalina Georgieva as the bloc's candidate to become IMF chief, in a fractious vote that failed to heal bitter divisions between member states.