The US military and its regional allies conducted additional airstrikes against ISIS-controlled oil infrastructure in Syria and Iraq. “The U.S. said on Sunday that its forces along with Saudi Arabia and the United Arab Emirates targeted four modular refineries and a command facility north of Raqqa—Islamic State’s de facto capital in northeastern Syria. The U.S.… Keep reading →
The US military partnered with Saudi Arabia and the UAE on air strikes that bombed 12 “teapot” refineries in eastern Syria reportedly used as part of ISIS’ underground oil operations. These small modular refineries – producing 300 to 500 barrels per day of refined products – are major sources of funding for the extremists, generating “as… Keep reading →
By Sri Jegarajah U.S. crude futures may draw some support this week from signs of improving gasoline demand and a pick-up in U.S. refinery activity, CNBC’s latest survey of market professionals showed — although a record supply overhang may restrain any move higher. Gasoline prices have now increased for 12 weeks in a row, gaining nearly… Keep reading →
