oil

Saturday April 25, 2026 Somali pirates have seized an oil tanker off the country’s northeastern coast, underscoring a renewed threat on a sea lane long watched by global naval forces. A maritime policeman guarded an oil tanker after its release. Somali pirates have hijacked four ships in the past month.Credit...Abdiqani Hassan/Reuters Mogadishu (AX) — Somali pirates hijacked an oil tanker carrying 18,500 barrels of fuel and 17 crew members off Somalia’s northeastern coast, officials said Friday. The vessel, named Honour 25,…

An oil tanker has been hijacked off Somalia’s coast and forced into the country’s territorial waters, according to the British maritime security agency UKMTO, in a fresh sign of mounting danger for vessels moving through the region. The incident underscores the growing hazards facing ships in the Red Sea corridor, an increasingly vital supply route as Iran’s grip on the Strait of Hormuz — the gateway to the Gulf on the opposite side of the Arabian Peninsula — tightens pressure on maritime traffic. UKMTO said the tanker was…

Pirates have seized an oil tanker carrying 17 crew members off Somalia’s coast, multiple security officials told the BBC, in a brazen reminder of a menace once thought to be fading in the region. The vessel, Honour 25, was taken over late on Wednesday by six armed men when it was about 30 nautical miles offshore, the officials said. For years, this stretch of the Indian Ocean was synonymous with pirate attacks, but until three years ago such incidents had largely vanished. Since then, however, piracy has returned, with…

Saturday April 25, 2026 An oil tanker was left under guard after being freed, a stark reminder of how quickly piracy can again unsettle the waters off Somalia. Somali pirates have hijacked four ships in the past month.Credit...Abdiqani Hassan/Reuters Mogadishu (AX) — Somali pirates seized an oil tanker carrying 18,500 barrels of fuel and 17 crew members off Somalia’s northeastern coast, officials said Friday. The ship, identified as Honour 25, was taken late Wednesday by at least six armed men roughly 30 nautical miles…

Oil prices climbed sharply today as fears of renewed conflict in the Middle East gripped markets after Iran released footage showing commandos boarding a cargo ship in the Strait of Hormuz, with little sign of progress toward reopening the crucial shipping lane. Traffic through the strait, which before the war handled roughly a fifth of global oil output, remains effectively shut down. Iran’s seizure of two cargo ships has also underscored the challenges Washington faces in trying to secure passage through the waterway.…

Russian oil has resumed flowing through the Ukrainian stretch of the Druzhba pipeline after a stoppage that lasted months, officials said, clearing the way for Hungary to drop its veto on a €90 billion EU loan Ukraine says it urgently needs. Since a Russian drone strike damaged the line in western Ukraine and cut off deliveries to Hungary and Slovakia, the Druzhba pipeline has stood at the centre of one of Europe’s most politically sensitive energy disputes. Hungarian oil group MOL said Ukraine had notified it that shipments…

By  STAN CHOEWednesday April 22, 2026 Wall Street and oil markets lurched back and forth Tuesday as investors tried to gauge what comes next after the ceasefire in the war with Iran, which was due to expire Wednesday. The S&P 500 surrendered an early gain and finished 0.6% lower after U.S. Vice President JD Vance canceled a planned trip to Pakistan, where he had been expected to lead American negotiators in talks with Iran aimed at extending the truce. The Dow Jones Industrial Average fell 293 points, or 0.6%, after at…

Volodymyr Zelensky has denounced the loosening of restrictions on Russian oil, warning that revenue from those sales feeds Moscow’s war machine just as Washington moves to ease pressure on energy markets rattled by the conflict in the Middle East. "Every dollar paid for Russian oil is money for the war" and is used for devastating strikes on Ukraine, Mr Zelensky said in a post on X. Without naming the United States directly, the Ukrainian president’s remarks came after President Donald Trump's administration on Friday…

A fresh sanctions waiver from President Donald Trump’s administration will allow the sale of Russian oil and petroleum products already at sea for another month, the latest sign that Washington is trying to contain a sharp rise in energy costs. The Treasury Department issued the license just two days after Treasury Secretary Scott Bessent said the United States would not extend the waiver. Under the new measure, buyers may purchase oil and petroleum products loaded onto any vessel as of Friday, up to 12.01 am (5.01am) on 16…

A late-night fire at Viva Energy Group's Geelong refinery in southern Australia has triggered an emergency response, with local authorities describing the incident as "significant" as crews work to bring the blaze under control. The full scale of the damage was not immediately known. Fire Rescue Victoria said in a statement that the fire was reported at about 11 p.m. local time today. The agency said the blaze was still not under control, but confirmed that all staff had been accounted for. Emergency crews were sent to the…