Crude Oil News
Latest articles and news about Crude Oil on AXL Media.
Latest Articles
- Global Commodities Surge as Geopolitical Tensions in the Strait of Hormuz Drive Crude Oil and Base Metals Higher
Published: Apr 30, 2026
Section: Investing
Midday trading on April 30, 2026, saw a significant rally in energy and metal markets, fueled by escalating maritime tensions between the United States and Iran. While domestic Chi...
- Finance Minister Prioritizes Commercial Storage Expansion Over Oil Ticket Swaps Amid Ongoing Fuel Crisis
Published: Apr 28, 2026
Section: Politics
Finance Minister Nicola Willis has signaled a strategic shift in the government’s fuel response, moving away from a proposal to swap International Energy Agency (IEA) crude oil tic...
- Nigerian Army 6 Division Dismantles Ten Illegal Refineries and Seizes N250 Million in Stolen Petroleum
Published: Apr 27, 2026
Section: Africa
Troops from the Nigerian Army 6 Division recovered 156,000 litres of stolen crude oil and diesel during a 25 day operation across the Niger Delta. Nine suspects were arrested as se...
- Indian Industrial Giant Alternicq Reports 40 Percent Surge in Plastic Production Costs Amid Iran War
Published: Apr 21, 2026
Section: Companies & Industry
The chief executive of Alternicq, India’s leading rigid plastic manufacturer, warned that the ongoing conflict with Iran has caused a massive spike in raw material expenses. These...
- President Xi Jinping Urges Saudi Crown Prince to Secure Critical Oil Arteries Amid Escalating Iran War
Published: Apr 20, 2026
Section: Politics
President Xi Jinping held a high-level call with Saudi Crown Prince Mohammed bin Salman on April 20 to advocate for the guaranteed passage of vessels through the strategic Strait o...
- US Treasury Issues Temporary License Extension for Russian Crude Oil Sales on High Seas
Published: Apr 18, 2026
Section: US & Canada
The US Treasury Department has authorized a new general license allowing the sale and delivery of Russian petroleum products currently at sea. The temporary measure applies specifi...
- Global Markets Reels From Fifty Billion Dollar Loss As Iranian Conflict Halts Five Hundred Million Barrels
Published: Apr 17, 2026
Section: Middle East
The ongoing conflict involving Iran has resulted in the removal of 500 million barrels of crude oil from the global market over a span of 50 days. This historic energy disruption h...
- US Treasury Terminates Temporary Sanctions Relief On Iranian Oil Ending Short Term Supply Relief
Published: Apr 14, 2026
Section: US & Canada
The US Treasury Department announced it will not renew the temporary easing of sanctions that allowed the sale of stranded Iranian crude oil. This decision marks a return to a maxi...
- Tehran to Divert Surplus Oil Revenue Toward Post-War Industrial Reconstruction Following Port Attacks
Published: Apr 14, 2026
Section: Middle East
Iranian Oil Minister Mohsen Paknejad has announced that favorable crude sales will fund the repair of industrial facilities damaged during recent wartime strikes. Despite the confl...
- Trade Union Congress Urges Federal Government to Redirect Excess Crude Revenue Toward Feedstock Subsidies for Local Refineries
Published: Apr 10, 2026
Section: Africa
TUC President Comrade Festus Osifo has proposed that 60% of surplus crude oil revenue be used to subsidize local refineries, including the Dangote plant. The labor center argues th...
- China Authorizes State Refiners to Tap Commercial Oil Reserves as Middle East Conflict Strains Global Supplies
Published: Apr 10, 2026
Section: Oil
The Chinese government has granted permission for state-owned refiners to access commercial crude oil inventories to mitigate the impact of a six-week energy crunch fueled by Middl...
- Iran Imposes Mandatory Bitcoin Tolls for Oil Tankers Navigating Strait of Hormuz Amid Regional Ceasefire
Published: Apr 9, 2026
Section: Banking & Finance
Iranian authorities have established a new regulatory framework requiring oil tankers to pay transit fees in Bitcoin to navigate the Strait of Hormuz. The system, which includes ma...