Category: Singapore

Tankers filled with dirty Russian oil are piling up around Asian ports ahead of fresh EU sanctions

Getty Images Tankers carrying Russian oil have settled at ports near Malaysia and Singapore ahead of the next round of EU sanctions.  Roughly 1.1 million tons of high-sulfur fuel oil was sitting on vessels for the week ending October 24. New European Union sanctions will ban insurance on tankers holding Russian oil starting December 5.  Tankers carrying Russian oil have settled at ports near Malaysia…

The world is in the middle of the ‘first truly global energy crisis’ and needs Russian oil to flow into...

The OPEC+ deal to slash oil output raises the risk of an energy-driven recession next year, IEA director Fatih Birol said. Pavel Golovkin/AFP/Getty Images  The OPEC+ oil output cut is fueling the “first truly global energy crisis”, the head of the IEA said. He warned the Russia and Saudi-driven move cut 2 million barrels a day raises the risk of recession. Russian oil will need…