Abu Dhabi National Oil Company said its new crude pipeline bypassing the Strait of Hormuz is nearly 50% complete. The United Arab Emirates accelerated construction after disruptions linked to the Iran war hit global oil supplies. ADNOC chief Sultan Al Jaber shared the update during a live streamed Atlantic Council event on Wednesday. “Today, it’s […]
Oil Prices Drop After Trump Signals Possible End to Middle East War
Global oil prices fell sharply after surging to their highest levels in years, following comments from US President Donald Trump suggesting that the ongoing war in the Middle East could end sooner than expected. The sudden shift in sentiment eased fears of prolonged supply disruptions that had rattled energy markets earlier in the week. The […]