Opec cuts 2026 global oil demand growth forecast

The war has effectively closed the Strait of Hormuz, a key global oil route

Brent crude futures were down 30 cents, or 0.3 per cent, to US$107.47 a barrel at 1220 GMT on Wednesday.

Oil little changed as Trump visits China

The International Energy Agency said global oil supply would not meet total demand this year

China is the biggest buyer of Iranian oil despite pressure from the Trump administration.

Oil prices slip on teetering Iran ceasefire as Trump heads to China

Elevated interest rates make borrowings more expensive, potentially denting demand for oil

Gold is India’s largest import item after crude oil.

India hikes gold and silver tariffs to 15% as it defends rupee against Iran war fallout

The move aims to dampen demand in the world’s second-largest bullion market

India has raised import tariffs on gold and silver to 15% from 6% as part of efforts to curb overseas purchases of the metals.

Gold steady with US-China summit, Middle East developments in focus

President Trump and his Chinese counterpart Xi Jinping will discuss the Iran war

Hengli Petrochemical's refining complex in China's Dalian in 2018.

Hengli’s ex-Singapore unit dismisses staff after US sanctions, at risk of being wound down: sources

Singapore is an important base for many China-based firms seeking to source crude and metals

Brent crude futures gained US$3.47, or 3.3 per cent, to US$107.68 a barrel by 1045 GMT on Tuesday.

Oil prices jump on latest US-Iran peace process impasse

[LONDON] Oil prices rose by more than 3 per cent on Tuesday as stark differences between the US and Iran on a proposal to end the war in the Middle East pushed supply concerns back into the spotlight.

Consumers in China can tap domestic production and overland pipeline supply, which reduces the need for LNG.

China LNG imports hint at recovery as buyers replace lost supply

The country’s petrol sector is better insulated from the disruptions due to sellers from Canada to Nigeria

The independents face an estimated loss of 500 yuan to 600 yuan for each tonne of crude processed in the last week of April, according to a source.

China’s independent crude refiners cut output in May as losses mount amid Iran war: sources

Some of the smaller refiners have shut their plants for maintenance, sources say

Storage tanks in Oman on Mar 12. In the week ended May 10, Brent crude futures and  US West Texas Intermediate recorded 6 per cent weekly losses.

Oil prices settle higher after Trump says Iran ceasefire ‘on life support’

He pointed to disagreements over several demands, such as the cessation of hostilities on all fronts