Disruptions - Truenewj

While oil prices soared in the first quarter, ExxonMobil’s profits fell. This is what happened.

amefika1 month ago04 mins

Oil prices skyrocketed during the first quarter due to the war with Iran. Brent oil, the global benchmark, rose from $60 a barrel at the beginning of the year to more than $100 a barrel at the end of March. While higher oil prices benefit oil producers like ExxonMobil (NYSE: XOM)The global energy giant’s profits…

Factbox: The largest global oil supply disruptions in history

amefika3 months ago04 mins

March 13 (Reuters) – The International Energy Agency said the closure of the Strait of Hormuz has caused the biggest disruption to global oil markets in history, with supply expected to fall by around 8 million barrels per day in March, or about 8%. The agency’s member countries responded by agreeing to release a record…