LONDON — The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants, effectively rerouting global trade away from a crucial artery for consumer goods and energy supplies that is expected to trigger delays and rising prices. BP said Monday … Read more
LONDON — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia will try to agree Thursday on cuts to the amount of crude they send to the world, with prices having tumbled lately despite their efforts to prop them up. That’s been a good thing for U.S. drivers, who have been … Read more
DUBAI, United Arab Emirates — DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to increase their voluntary oil manufacturing cuts by the top of this yr, trimming 1.3 million barrels of crude out of the worldwide market and boosting vitality costs. The twin bulletins from Riyadh and Moscow pushed benchmark Brent … Read more