Marines capture Olina tanker in Caribbean as Washington steps up efforts to curb fuel exports from South American country

Move threatens to sever critical energy lifeline for Communist-run island, which now has to depend on Russian fuel

Tankers at high seas without known flag or safety documentation, shipping data shows

Control of country’s vast oil reserves emerges as key factor in possible follow-up attack

Decline also attributed to hiked OPEC production, lower geopolitical risk over Gaza truce

Anwar says as an exporter, it could be profitable for Malaysia to buy gas

Truce to extend to Nov 10, triple-digit duties staved off for now

LONDON, July 18 — Oil prices edged higher today, heading for a small weekly loss, as investors weighed new European Union sanctions against Russia.

KUALA LUMPUR, July 11 — A new regulation aimed at tightening enforcement against illegal ship-to-ship (STS) oil transfers in Malaysian waters is set to take effect by the end of the month, said Foreign Minister Datuk Seri Mohamad Hasan.

MOSCOW, July 11 — The International Energy Agency (IEA) has downgraded its forecast for global oil demand growth in 2025 to 700,000 barrels per day — the lowest annual demand growth since 2009, excluding the crisis year of 2020.

KUALA LUMPUR, June 26 — Geopolitical tensions in the Middle East present a short-term impact on Malaysia, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

KUALA LUMPUR, June 16 — The Iran-Israel conflict will not necessarily hurt the oil industry or price mechanisms of the commodity, said Prime Minister Datuk Seri Anwar Ibrahim.

BRASILIA, April 20 — Brazil should not explore oil reserves in the Amazon region, because of the dangerous impact on local communities, Indigenous leader Raoni Metuktire, of the Kayapo people, told Reuters during the country’s largest Indigenous gathering last week.

LONDON, April 15 — Oil prices inched down today after the International Energy Agency (IEA) followed Opec in slashing its oil demand forecast, though price falls were limited by United States President Donald Trump’s suggestion of new tariff exemptions.

SINGAPORE, March 26 — Oil prices edged higher today on supply concerns, with the United States stepping up efforts to limit Venezuelan and Iranian oil exports, while a bigger-than-expected drop in US crude inventories also lent support.

SINGAPORE, Aug 5 — Oil prices hovered at eight-month lows today as fears of a recession in the United States, the world’s top oil consumer, offset concerns that escalating tensions in the Middle East may affect supplies from the largest producing region.

VIENNA, Aug 2 — The Joint Ministerial Monitoring Committee (JMMC) of Opec+, the Organisation of the Petroleum Exporting Countries (Opec) and its allies, yesterday confirmed the oil-producer group’s commitment to its current output policy, reported Xinhua.

SINGAPORE, June 13 — Singapore is offering refiners and petrochemical companies rebates of up to 76 per cent for its planned carbon tax for 2024 and 2025 to help them ease cost stress and remain competitive versus rivals elsewhere, four sources familiar with the matter said.

TOKYO, March 8 — Oil prices rose on Friday, driven by growing demand in the United States and China, the world's biggest oil consumers, and as the US Federal Reserve gave a positive signal on possibility of rate cuts.

KUALA LUMPUR, March 5 — The Malaysian palm oil industry is expected to show growth in 2024 in light of recovery in labour supply, improved palm oil price projections and heightened demand from key export destinations, said Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar.