Oil prices increased on Tuesday as unrest in Iraq and Ecuador raised supply concerns, but worries about US-China trade negotiations capped the market’s gains after President Donald Trump said a quick deal was unlikely.
Brent crude rose 43 cents, or 0.7%, to $58.78 a barrel. US West Texas...
Oil prices were up on Monday, buoyed by hopes of progress in US-China trade talks and supported by challenges to supply facing major exporters.
Brent crude rose 34 cents or 0.6% to $58.71 a barrel, while WTI crude was at $53.16, up 35 cents or 0.7%, CNBC reported.
Both futures contracts ended...
Saudi Aramco’s trading arm bought 70,000 tons of naphtha from Indian Oil Corp on Friday at premiums not seen since 2013 as it seeks to plug a supply gap following Sept. 14 attacks on its facilities, trade sources said on Monday.
Aramco Trading Company paid a premium to IOC price formula on a...
Crude oil futures edged higher during mid-morning trade in Asia Friday amid bargain hunting after prices sank to near two-month low the day before, and were currently moving in a tight range awaiting fresh cues to provide direction, analysts said.
On Friday Brent December futures were up 22...
The secretaries general of the Organization of the Petroleum Exporting Countries and the Gas Exporting Countries Forum (GECF) signed a Memorandum of Understanding to strengthen cooperation in research and sharing of best practices.
Mohammad Sanusi Barkindo, Secretary General of OPEC, and his...
Ecuador said Tuesday it will leave the Organization of Petroleum Exporting Countries in January.
For OPEC, the departure matters more in symbolism than barrels -- Ecuador is one of its smallest producers, but stated clearly it wants to leave the group to boost oil revenues at a moment when the...
Saudi Arabia lost its position as the largest crude oil supplier to Japan in August as relatively expensive heavy-end crude grades prompted refiners to seek lighter Abu Dhabi crudes during the trading cycle.
Reflecting the tight availability of heavy-end crude oil early in the third quarter...
US sanctions on two units of Chinese shipper COSCO hit the liquefied natural gas tanker industry on Monday as US-listed Teekay LNG said its joint venture in Russia had been “blocked” for its ties to COSCO.
The United States imposed sanctions on the two units - COSCO Shipping Tanker (Dalian) Co,...
The annual exhibition on water and wastewater, also known as Watex, opened at Tehran's International Fairground on Monday.
The 15th International Water and Wastewater Exhibition, which will run until October 3, is hosting several domestic and 13 foreign companies from Italy, Germany, Hungary,...
The Iranian Offshore Oil Company said the leak in the 24-inch oil pipeline from Abouzar Oilfield to Kharg Island, in the Persian Gulf, has been fixed and the spilled oil in the region has been cleaned up.
According to reports, the leakage occurred on September 13, about 4 kilometers off the...