Oil and gas prices rise as BP stops Red Sea shipments

Oil and natural gas prices rose sharply on Monday after BP said it would pause all shipments through the Red Sea because of increased attacks on commercial vessels by Houthi militants in Yemen, a media report said.

Oil dynamics

At the heart of the matter is the quest for stability in global oil markets.

Pak-Russia oil deal hits roadblock

The all-important oil deal between Pakistan and Russia has hit a roadblock, as the two nations are unlikely to finalise a long-term supply deal.