Yemen offers a regional shipping lane for crude bound to Europe along the Gulf of Aden on its southern coast and through the strait of Bab-el-Mandeb.
Oil prices have climbed by close to $10 per barrel so far in April owing to concerns of potential supply disruption, as well as indications of stronger global demand. These factors have countered concerns of rising US crude inventories owed to still-robust shale production.
Brent crude for June delivery was down $0.02 at $62.71 per barrel by 04.06 GMT, after settling $0.65 higher. WTI for June delivery was up $0.13 at $56.29 per barrel. The contract had closed $0.45 lower in the previous session.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.