India and Russia will continue oil trade regardless of US stance and sanctions, stated Sammy Kotwani, President of the Indian Business Alliance, at the St. Petersburg International Economic Forum. He noted that both countries have experience managing complex trade conditions and that cooperation extends beyond oil to defense, pharma, agriculture, and technology.
German minister expects no quick Bafög reform, citing lack of support and privileged student situation. Meanwhile, US sanctions on Iran's oil trade, using a 'shadow fleet', continue to face challenges in disrupting the regime.
The US and Iran are reportedly close to signing a deal to extend a ceasefire for 60 days, reopening the Strait of Hormuz and lifting oil trade restrictions on Tehran. Negotiations will also address the Iranian nuclear program and Israeli military actions.
A nearly $1 billion oil short placed before news of progress toward US-Iran deal to end the war has raised suspicions of insider trading Read Full Article at RT.com
Firm benefits from conflict to rake in $6.9bn as higher energy prices turbo-charge profitsShell has reported better than expected profits of $6.9bn after its oil traders reaped the benefits of soaring energy prices during the war in Iran, angering climate campaigners.Higher oil and gas prices during the Middle East conflict helped Europe’s biggest oil and gas company post a 115% jump in first-quarter profits from the $3.2bn reported in the last three months of 2025, easily surpassing the $6.4bn forecast by City analysts. Continue reading...
The US has threatened sanctions against shipping firms paying Iran for safe passage through the Strait of Hormuz. This follows a US naval blockade on Iranian tankers and rising tensions after mutual strikes in late February.
The United States on Friday sanctioned multiple entities and individuals it said were involved in trading Iranian petroleum and petroleum products, including a China-based oil terminal operator and a Chinese national. The State Department said the operator, Qingdao Haiye Oil Terminal Co., Ltd, “imported tens of millions of barrels of sanctioned Iranian crude oil”. Also on the sanctions list is Li Xinchun, a Chinese national who is president of the China-based oil terminal, as well as a Hong...
President Trump described the US naval blockade against Iran as 'genius' and '100% foolproof,' asserting Tehran must abandon nuclear ambitions for any deal. US Central Command reported the 42nd commercial vessel was redirected attempting to violate the blockade. Iran has proposed a conditional ceasefire offering to halt military operations if the US lifts the blockade, with Washington reviewing the offer.
Bitcoin traded near $76,600 after failing to sustain a push toward $78,000. While the asset initially resisted rising crude oil prices, the opening of US equity markets triggered a pullback, highlighting the ongoing tension between crypto-specific demand and broader macro risks.
BP has reported first-quarter profits of $3.2bn, more than double the $1.38bn from the same period last year, after capitalising on surging oil prices caused by the Iran conflict. The energy giant's new chief executive Meg O'Neill credited "exceptional oil trading" for the result, the highest quarterly profit since 2023. The conflict has throttled Gulf oil exports through the Strait of Hormuz, with Brent crude reaching $119/barrel in March. Campaign groups condemned the "horrifying" profits as coming at the expense of millions of consumers, while BP's Rumaila oilfield in Iraq was damaged by drone attacks.
The US Treasury Department announced fresh sanctions on a major China-based oil refinery and approximately 40 shipping companies and tankers linked to Iranian oil transport. The measures target what Washington describes as an extensive shadow network moving Iranian crude to global markets, part of the broader 'maximum pressure' campaign and 'Economic Fury' initiative to restrict Iran's oil income. China criticized the move, accusing Washington of abusing unilateral sanctions. China remains the largest buyer of Iranian oil, accounting for over 80% of exports.
Leading international oil traders at the Financial Times global commodity summit in Lausanne warned that the world underestimates the oil deficit stemming from the Middle East conflict. Industry attendees expressed concern that politicians, society, and financial markets fail to grasp the severity of the coming global oil shortage, with many countries' inventories insufficient if the conflict continues.
US claimed that it holds "total control" over the Strait of Hormuz, calling it a success. However, reports reveal Iran-linked tankers are bypassing these restrictions. At least 34 tankers have continued operations, with some carrying significant oil volumes. This situation creates a complex environment for global oil trade. Tensions remain high as both sides assert control over the vital waterway.
The Strait of Hormuz remains effectively closed despite the April 8 ceasefire, with traders on Polymarket placing just 28% odds on normal traffic returning by April 30. BIMCO has advised vessels to avoid the area entirely, citing uncleared mine threats, while tanker traffic remains below 5% of pre-war volumes. Brent crude peaked near $126 per barrel—the fastest oil price spike in modern history—while prediction markets suggest a slow, complicated normalization with 61% odds of reopening by May 31 and 70% by June 30.
The UAE has reportedly threatened the ditch the dollar in oil trade during talks on a potential currency swap with the US Treasury Read Full Article at RT.com
Crypto majors are mostly flat headed into Monday open; btc even at $90,600; eth +1% at $3,110, sol +2% at $140; xrp -2% to $2.04. Ip (+20%) and xmr (+15%) led top movers; xmr hit a new ath at $590. Fed chair Jerome Powell released a video message claiming that the criminal charges he faces are due to his not cutting interest rates in line with Trump’s wishes. X (twitter) announced plans for “smart cashtags” to show crypto and stock prices live next to tickers. Vaneck projected bitcoin could reach $53m by 2050, outlining long-term adoption, trade settlement and store-of-value assumptions driving 29% annual growth. Andreessen Horowitz (a16z) raised $15b to fund American Dynanism, with ai and crypto at the forefront. Ripple received FCA approval to scale crypto payments in the uk. Bny mellon debuted tokenized deposits for institutional and digital-native clients. A new house bill would bar lawmakers and federal officials from using prediction markets. Tether froze $182m in usdt linked to Venezuela oil trades.
