Tempered optimism over a Middle East peace agreement has left global oil trading volatile, positioning local fuel prices for another round of hikes next week as market anxiety outweighs diplomatic breakthroughs. Based on four-day trading of Mean of Platts Singapore (MOPS), diesel prices may...
TORONTO (AP) — Canada took a step Thursday toward opening a new route for its vast oil reserves to Asian markets as Prime Minister Mark Carney advanced a Pacific Coast pipeline from Alberta, seeking to reduce the country’s dependence on the U.S. while easing separatist tensions and preserving...
Today’s piece is a reflection on the fuel marking program (FMP), a topic that is the current buzz in business circles and one close to my heart as a chemist by education and a nosy journalist by profession. That’s right, Virginia, I’m joining the fray. I will try to go deep into the...
Japanese financial giant MUFG Bank Ltd. expects the Philippine peso to gradually regain footing against the United States (US) dollar on the back of lower oil prices, improving government spending, and additional interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). MUFG Global Markets...
The Department of Social Welfare and Development (DSWD) has concluded its nationwide distribution of ₱5,000 cash assistance to public utility vehicle (PUV) drivers and delivery riders affected by rising fuel prices. In a statement on Wednesday, July 1, DSWD Assistant Secretary and spokesperson...
DUBAI, United Arab Emirates (AP) — A Liberian oil tanker made its way out of the Strait of Hormuz on Thursday despite threats to shipping from Iran’s paramilitary Revolutionary Guard and using a new route close to Oman’s shore that has been promoted by a U.N. maritime agency. The transit of...
Motorists are on track for major relief at the pumps next week, with diesel prices poised to plunge by up to ₱9.5 per liter and gasoline by up to ₱5.00 per liter as global oil markets cool down. Based on the four-day trading average of the Mean of Platts Singapore (MOPS), the regional...
Local pump prices are on track for a big-time rollback next week, with diesel projected to drop by up to ₱9 per liter and gasoline by ₱5 due to the United States (US)-Iran peace deal, which will reopen the Strait of Hormuz, a critical global oil route. Based on the first three days of...
EVIAN-LES-BAINS, France (AP) — The United States could soon reimpose sanctions on Russian oil shipments after President Donald Trump and fellow leaders at the Group of Seven summit of major industrialized democracies moved Tuesday to put the war in Ukraine back on top of their agenda, more than...
The oil spill caused by a cargo vessel that ran aground in the sea of Badoc, Ilocos Norte has been successfully contained through the coordinated efforts of government agencies, local authorities, and community volunteers, the Philippine Coast Guard (PCG) reported. Ensign Aeron Paul Sotiangco,...
NEW YORK — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s...
LONDON (AP) — Armed British forces boarded and detained a sanctioned tanker Sunday that is suspected of being part of the Russian "shadow fleet," shipping oil in violation of international sanctions over Moscow 's war on Ukraine, British Prime Minister Keir Starmer said Sunday. Royal Marine...
