Page 12 - Basrah Medium News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- The escalating crisis over Ukraine has upended the cost of shipping oil by sea.

By Bloomberg News (Bloomberg) — The escalating crisis over Ukraine has catapulted the cost of shipping oil by sea.  Freight rates for hauling crude from Russia are surging as sanctions imposed...

Asian oil buyers are trying to secure more crude from Saudi Arabia to be shipped in the next few months, as the Russian invasion of Ukraine threatens to disrupt global flows and even create an energy crisis. Customers in the world’s biggest crude-importing region are putting in inquiries to Saudi Arabian Oil Co for shipments arriving in May, said traders with knowledge of the matter, who asked not to be identified as the information is private. That is on top of a likely increase in requests for April-loading barrels, with nominations for those cargoes due in the next couple of weeks. While

Iranian nuclear deal negotiators appear close to clinching a deal, bringing the prospect of significant supplies coming on to a tightening oil market and intensified intra-OPEC+ competition. Both sides have signaled that an agreement could come within days. Iran’s foreign ministry said Feb. 21 the negotiations had progressed considerably, with two or three remaining issues ...

Middle Eastern producers hiked oil prices for March as global inventories tighten and the disparity between OPEC’s self-reported production and third-party assessments widens