energy

US solicits exchange of up to 17 million barrels of oil from strategic reserve Reuters

Brent oil hit $110 a barrel for the first time since May as prospects for imminent supply relief dwindle, prompting traders to ramp up bets on higher prices ahead of the weekend.

Exit comes amid deepening turmoil for White House as midterm elections loom

In time it could bring about an equally disruptive glut

UK watchdog moves to protect energy market from wholesale price swings Reuters

Angola is considering selling bonds in China or tapping Islamic debt markets in the Middle East as the oil-producing nation seeks to diversify its sources of financing, according to a senior finance official.

The threat of Trump tariffs is driving huge demand for the red metal.

Oil heads for weekly gain with Mideast supply risks Reuters

Accelerating crude exports through the Strait of Hormuz aren’t translating into higher production of a dirty shipping fuel, according to a top Vitol Group executive, tightening supplies and sending prices soaring.

The International Energy Agency said that member countries agreed to complete the release of 100 million barrels of oil that are still outstanding from an intervention in March aimed at cooling high fuel prices.