Oil
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Economy
US Diesel Prices Hit Record $5.85 per Gallon
DID Press: The average price of diesel in the United States reached a record $5.85 per gallon on Friday, surpassing the previous high recorded in June 2022, according to AAA data. Diesel is a major fuel source for freight transportation,…
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Economy
Trump’s Oil Deal Accused of Looting Venezuela’s National Wealth
DID Press: US President Donald Trump has announced a sweeping oil agreement with Venezuela that he described as the “biggest oil deal in world history,” saying it would give the United States majority control over more than 65 billion barrels…
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Afghanistan
Turkmenistan Sells $1.44M of Low-Sulfur Diesel to Afghanistan, UAE
DID Press: Turkmenistan has signed two contracts worth a combined $1.44 million to sell low-sulfur diesel to buyers from Afghanistan and the United Arab Emirates, according to Turkmen media. The contracts were recently concluded at the foreign market of Turkmenistan’s…
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Economy
Yemen Expands Saudi Maritime Blockade to Arabian Sea, Targets Aramco
DID Press: Yemeni military and maritime sources say forces aligned with Sanaa have expanded their maritime blockade of Saudi Arabia from the Red Sea to the Arabian Sea following attacks on Saudi Aramco facilities in Jizan, warning that “anything linked…
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Afghanistan
Kabul and Minsk Agree to Expand Economic and Trade Cooperation
DID Press: Afghanistan and Belarus have agreed to expand economic and trade cooperation during the second meeting of their Joint Economic and Trade Commission in Minsk. The meeting was co-chaired by Afghanistan’s Taliban-appointed Agriculture Minister, Mawlawi Ataullah Omari, and Belarusian…
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Government
US Strategic Oil Reserve Falls to Lowest Level in More Than 40 Years
DID Press: United States’ Strategic Petroleum Reserve (SPR) fell by about 6.1 million barrels this week to approximately 298.7 million barrels, dropping below the 300-million-barrel mark for the first time since 1983. The decline comes as Washington continues drawing on…
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Economy
US Crude Oil Inventories Fall by 7.2 Million Barrels
DID Press: US commercial crude oil inventories fell by 7.2 million barrels in the week ending July 24, reaching approximately 404.5 million barrels, according to the weekly report from the U.S. Energy Information Administration (EIA). The EIA said crude stockpiles…
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Economy
Saudi Oil Exports Plunge as Hormuz, Bab al-Mandab Closures Disrupt Shipments
DID Press: Saudi Arabia’s oil exports have fallen sharply after Saudi tankers were blocked from transiting the strategic Strait of Hormuz and Bab al-Mandab waterways, according to maritime intelligence firm Windward. Windward said oil loadings at the Red Sea port…
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Economy
Why US Light Oil Cannot Replace Middle East Crude
DID Press: Energy experts say U.S. light crude oil cannot replace heavier Middle Eastern crude due to structural and chemical limitations that restrict its ability to meet global demand for refined fuels. According to leading analysts, including petroleum geologist Art…
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Afghanistan
Afghanistan Terminates Oil Extraction Contract with Chinese Company
DIDPress: Ministry of Mines and Petroleum of Afghanistan’s interim government announced the termination of a 25-year oil extraction contract for the Amu Darya oil field due to repeated violations. In a statement issued on Tuesday, June 17, the ministry said…
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