
Oil Prices Rise at Settlement - Iqtissad Al Balad
Oil prices rose at settlement, influenced by renewed escalation between the United States and Iran in the Middle East.
Oil, gas, petrochemicals, Sonatrach, and energy sector developments

Oil prices rose at settlement, influenced by renewed escalation between the United States and Iran in the Middle East.

Algerian oil exports to Spain increased by 106% in April 2026, reaching 116,000 barrels per day compared to 56,000 barrels per day in March, with an increase of 60,000 barrels per day, amid supply disruptions in the Gulf due to the closure of the Strait of Hormuz. According to data from the Energy Research Unit, the Spanish market represented about 13 percent of Algeria's total oil exports in April, despite exports remaining below the level of the same month in 2025, when they reached 152,000 barrels per day. Read the full content on Echourouk Online.

A delegation from the SONELGAZ group arrived in N'Djamena to prepare for the launch of a project to build a 40 megawatt power generation plant in Chad, according to a statement from the public group today, Saturday. This project comes as a realization of the directives of the President of the Republic, Mr. Abdelmadjid Tebboune, aimed at enhancing African cooperation and promoting South-South strategic partnerships, particularly with Chad, following the official visit of the Chadian President, Mr. Mahamat Idriss Déby Itno, to Algeria from April 22 to 24 last.

Algeria is currently at a strategic crossroads facing a Norway that has decided to abruptly accelerate its rise to power

Algerian oil exports to Spain surged sharply in April 2026, increasing by 60,000 barrels per day, which represents a growth of over 106% month-on-month, coinciding with the disruption of Gulf supplies due to the closure of the Strait of Hormuz.

Oil prices increased during trading on Friday, May 8, 2026, as tensions returned to the Arabian Gulf, raising concerns about the continued disruption of supplies from the Middle East.

Coinciding with the disruption of Gulf supplies due to the closure of the Strait of Hormuz.

Algeria - The SONELGAZ group held a meeting for its general assembly today, Thursday, chaired by the Minister of Energy and Renewable Energies, Mourad Ajal, according to a statement from the ministry.

Oil prices rose during trading on Thursday, with Brent crude reaching $101.74 per barrel, up 0.46%, while West Texas Intermediate crude hit $95.31 per barrel, rising 0.24%, amid sharp market fluctuations linked to geopolitical developments and energy inventories. This increase follows significant losses in the previous session, as Brent crude fell by 7.8% and West Texas crude by 7% on Wednesday, before recovering some of those losses in today's trading. Read the full content on الشروق أونلاين

Oil prices rose during trading on Thursday, recovering part of the losses incurred over the past two sessions, as investors monitor developments in efforts to reach a peace agreement in the Middle East and the potential implications for global supply stability.

State Minister of Energy and Renewable Energies, Mourad Adjoul, and Minister of Mines and Mining Industries, Mourad Hanifi, discussed the progress of projects connecting several mining sites to electricity and gas, emphasizing the need to complete energy facilities within the specified deadlines and to continue coordination between the two sectors to implement major strategic projects. A statement from the Ministry of Energy and Renewable Energies indicated that the coordination meeting, held at the ministry's headquarters yesterday, was attended by central officials from both sectors, as well as the general directors of the 'Sonelgaz' group and its relevant subsidiaries, along with the 'Sonaram' group.

The closure of the Strait of Hormuz by Iran since the end of February 2026 reshuffles the cards of global energy supply.