Finding suitable vessels has become increasingly difficult due to the harshest Western sanctions to date targeting Russia’s oil exports. Consequently, only dozens of tankers have joined the shadow fleet this year, a significant decrease compared to the hundreds observed in previous years, according to a Reuters report. In a continued response to…

Despite weakening WTI fundamentals and increased US trade deals, Asian and European refineries consuming more WTI will face significant challenges due to heightened OPEC+ exports, upcoming refinery maintenance, and crude quality mismatches, analysts at Rystad Energy said. Mukesh Sahdev, senior vice president and chief oil analyst at Rystad Energy, said in…

England’s most severe drought in decades has led the UK government to urge citizens to delete old emails and unused digital files in a bid to conserve water. The appeal is part of a broader effort to address what the Environment Agency has declared a “nationally significant incident”, with multiple…

Otis Worldwide Corp.’s share price has been on a slow decline for much of the year, but signs are emerging that the worst may be over. While the stock has slipped more than 3% year to date, it gained over 2% in the past week, supported by improved analyst sentiment…

China’s petrochemical sector anticipates significant growth in a key segment, projected to expand by nearly 50% by 2028. This expansion is set to occur despite intensified competition within the wider refining industry, which is negatively impacting profit margins, according to a Reuters report.Li Suoshan, an executive at a chemical logistics company…

UK exports to the US fell to a three-year low in June 2025, showing that tariffs and trade rules are still hitting British businesses hard. Official figures released on August 14 put the value of exports at £3.9 billion ($5.3 billion), down £0.7 billion from May and about 20% below…

Switzerland’s influential gold industry on Thursday expressed significant reservations regarding a contentious proposal put forth by the head of Swatch, the renowned Swiss watchmaker. The proposal advocates for the imposition of a levy on Swiss gold exports destined for the United States. This measure is intended as a retaliatory action in response…

In a strategic move to reduce reliance on China, state-owned Indian miner IREL is reportedly seeking partnerships with Japanese and South Korean companies for the commercial production of rare earth magnets, according to Reuters.The company is reportedly exploring rare earth processing technology in Japan and South Korea, possibly via government-to-government…

Aviva shares climbed to their highest level since before the 2008 financial crisis on Thursday, after the FTSE 100 insurer reported a 22% jump in first-half operating profit and lifted its interim dividend by 10%.The London-listed group’s stock rose 5% in early trading to 691p, a more than 17-year high,…