Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded, as the US secretary of state said sanctions against Tehran were unlikely to be lifted.
Brent crude futures were up 32 cents, or 0.4%, at...
Iranian exporters aim to increase LPG exports to full capacity, if the US administration lifts sanctions that limited shipments from the country's petrochemical plants and gas refineries, adding to healthy Middle East supply, industry sources familiar with the sector said.
Assuming the US...
The National Iranian Oil Company paid $35 billion in natural gas subsidies in 2020, up 35% compared to 2018.
Oil Minister Bijan Namdar Zanganeh made the statement in a parliamentary hearing on Tuesday over criticisms concerning Iran’s high rate of energy waste in the form of flare gas, IRNA...
Oil pulled back after hitting fresh multi-year highs on Monday, as investors awaited the outcome of this week’s talks between Iran and world powers over a nuclear deal that is expected to boost crude supplies.
Brent crude futures for August fell 38 cents, or 0.5%, to $71.51 a barrel, after...
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery.
With oil prices rising above $70 and demand for gasoline and diesel...
A year after shuttering unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get acutely tight.
The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the...
Oil advanced in Asian trading with the market focused on an OPEC+ supply policy meeting early this week and any commentary around the prospect for returning Iranian supply.
Futures in New York rose toward $67 a barrel after falling 0.8% on Friday. OPEC and its allies are expected to stick with a...
Oil prices pushed higher on Friday, taking Brent to near $70 a barrel as firm US economic data and expectations of a strong rebound in global fuel demand in the third quarter underpinned the market.
Brent crude futures for July gained 32 cents, 0.5%, to $69.78 a barrel while US West Texas...
Iran may be holding as much as 69 million barrels of oil at sea, according to estimates from E.A. Gibson Shipbrokers Ltd., a London-based broker.
It is hard to be sure exactly how big the floating stockpile really is because it’s unclear exactly how many ships are being used and how full they...
Oil futures edged higher during mid-morning trade in Asia on Tuesday, extending overnight gains, as some uncertainty emerged over the restoration of Iran’s Joint Comprehensive Plan of Action, and as optimism grew that the market would be able to absorb any increase in Iranian oil export, if an...