Global oil prices have spiked in recent days as the conflict in the Middle East has reached fever pitch. They could rise yet further if Israel’s widening war embroils the vital Strait of Hormuz ...

An oil-exporting country’s “fiscal breakeven” oil price is the minimum price per barrel that the country needs in order to meet its expected spending needs while balancing its budget (figure 1).

Sharp, rapid swings in the price of oil can have outsize effects on companies, economies, and global geopolitics. Oil price spikes can stunt economic growth, for example, and a sudden price plunge ...

The price of oil has hit a six-week high amid fears over the escalating conflict in the Middle East. The market value of the benchmark Brent crude increased to almost $80 (£61) a barrel on Monday ...

The oil painting was created by the celebrated English painter, Royal Academician and politician Nathanial Dance (1735-1811). It is being sold by a US private collector. The Benyon family ...

NEW YORK, Oct 4 (Reuters) - Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were ...

U.S. President Joe Biden said on October 4 there had been no decision yet on what type of response Israel should mount against Iran but advised against striking Iran's oil facilities. "If I were ...

Asked by NBC News correspondent Monica Alba whether the U.S. would support Israel’s hitting oil facilities in Iran, President Joe Biden did not say whether this administration backed the idea. “ ...

Oil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst told CNBC. SEB's Bjarne Schieldrop noted that that Iran ...