United Arab Emirates leaves Opec and Opet+, a hard blow for the group

The United Arab Emirates announced on Tuesday its departure from Opec and Opec+, in a severe blow to the oil exporting groups and their de facto leader, Saudi Arabia. at a time when the war with Iran has caused an unprecedented energy crisis and destabilized the global economy. The surprising loss of the UAE, a …

Oil rises as peace talks to reopen Hormuz stall

Oil rises as peace talks to reopen Hormuz stall

Charlie

He Oil prices rose after efforts to restart peace talks over the war with Iran failed, leaving the Strait of Hormuz virtually impassable and prolonging the supply disruption that has shaken global markets. Brent crude oil rose up to 3%, reaching US$108.50 per barreland West Texas Intermediate advanced toward $97, before giving up some of …