Business & Finance

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Oil tankers U-turn in Hormuz as U.S.-Iran talks break down

Two empty crude tankers attempted to make their way through the Strait of Hormuz and into the Persian Gulf on Sunday, only to make last-minute U-turns just as peace negotiations between the US and Iran broke down, threatening a fragile…

Saudi Arabia says East-West pipeline restored to full capacity

Saudi Arabia has restored the full pumping capacity of its East-West pipeline to 7 million barrels a day, rehabilitating a vital link for oil exports via the Red Sea. A strike last week  — hours after a ceasefire was declared in the…