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Oil Prices Climb Despite Crude Build

Oil Prices Climb Despite Crude Build

Oil prices rose on Wednesday…

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An Uneasy Peace Between Armenia And Azerbaijan

Politics, Geopolitics & Conflict

The Armenian government has signed what it has referred to as a “painful” agreement with Russia and Azerbaijan to end the war over the disputed area of Nagorno-Karabakh. Under the deal, Azerbaijan will retain areas of Nagorno-Karabakh that it has taken during the ongoing conflict. Armenia has agreed to withdraw from several other adjacent areas over the next few weeks. The deal sparked celebrations in Azerbaijan and protests in Armenia, while Michael Carpenter, an adviser to U.S. president-elect Joe Biden, criticized the deal as a geopolitical victory for Russia. The truce calls for the deployment of nearly 2,000 Russian peacekeepers to the disputed enclave. This is a hugely - and dangerously - unpopular move on the part of Armenian PM Nikol Pashinyan, who now faces the specter of mass protests at home, which could pressure him to renege on the deal.

The U.S. government has imposed sanctions on 19 individuals and entities for allegedly providing support to Syrian President Bashar al-Assad oil production network. The Treasury's Office of Foreign Assets Control (OFAC) said those sanctioned include high-ranking officials and Syrian and Lebanese nationals attempting to revive Syria's oil industry, which is largely under the Assad government’s control.

Just weeks after acquiring Noble Energy’s high-profile Israel offshore gas assets, Chevron is already butting heads with the Israelis with tough renegotiations…

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