Oil prices hit multi-week highs on Tuesday after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the United States with "economic warfare".Brent crude futures LCOc1 were up $2.00, or 2.06%, at $99.00 a barrel by 0800 GMT. U.S. West Texas Intermediate crude CLc1 was at $94.41 a barrel, up $2.93, or 3.2%.Brent earlier rose to as much as $99.
The Iran war's redrawing of the global trade map is forcing Gulf nations to retool their investment play book, ploughing capital into infrastructure, from energy pipelines to ports, to weather the fallout from the conflict.The war has highlighted the Gulf's overreliance on the Strait of Hormuz
Warship manufacturer TKMS on Wednesday raised its outlook for the second time in six months, expecting higher demand for surface vessels such as frigates as well as for its sensors and mine-sweeping technology.TKMS has been one of the main beneficiaries of Europe's push to build up its defenses in light of dwindling U.S.
The Iranian-aligned Houthis said on Thursday they struck two Saudi oil tankers as part of a naval blockade on Saudi Arabia, threatening to create a second chokepoint on global oil supplies alongside Iran's near-closure of the Strait of Hormuz.Meanwhile the U.S. military completed a new round of strikes on Iran at President Donald Trump's direction
American Cruise Lines christened American Maverick in Newport, Rhode Island last week during the ship’s inaugural 9-Day New England Islands cruise, sailing roundtrip from Providence, Rhode Island. The celebration took place on board with guests, crew, community partners, and many employees from the Line’s headquarters in Connecticut.
Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities.Brent crude futures LCOc1 were down $1.33, or 1.4%, at $92.92 a barrel at 0741 GMT, while U.S. West Texas Intermediate CLc1 declined $1.73, or 1.
C&C Marine and Repair held a keel laying ceremony at its Belle Chasse shipyard, marking a milestone in a new series of four hybrid escort tugs being built for Green Tug Towing (GTT). The vessels will support LNG carrier operations at Woodside Energy's Louisiana LNG terminal in Calcasieu Parish.
Wilson Sons operates in the port and shipping logistics industry throughout Brazil, boasting more than 188 years of experience. They offer solutions to over 5,000 clients, including shipowners, importers and exporters, the offshore energy industry, renewable energy projects, the agribusiness sector, as well as other players across various economic segments.
Five European Union countries are calling for a windfall tax on energy companies' profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday.The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call for an EU-wide tax in a letter dated Friday.
Oil prices were little changed in choppy trade on Monday, as investors awaited clarity on the status of talks between the U.S. and Iran even as they remained wary about sustained supply losses due to shipping disruptions.Brent crude futures LCOc1 rose 76 cents, or 0.7%, to $109.79 a barrel at 0656 GMT. U.S. West Texas Intermediate crude CLc1 futures were trading 53 cents, or 0.5% lower, at $111.
Valero Energy Corp has shut its 380,000-barrel-per-day (bpd) oil refinery in Port Arthur, Texas, following an explosion and fire at a diesel hydrotreater unit, people familiar with the plant operations said on Monday.The cause of the explosion at the 47,000-bpd 243-diesel hydrotreater unit was not clear. The blast could be heard as far as 11 miles away, the sources said.
Wilson Sons held a launch ceremony for the tugboat WS Halcyon Thursday, January 29, in Rio de Janeiro. It is the first of a new series of three high-powered tugs.Built at the company’s shipyard in Guarujá (São Paulo), WS Halcyon is a class 2312 tug (23 meters long and 12 meters wide) with azimuth propulsion and 70 tons of bollard pull