Brent futures rose 4 cents to $85.79 a barrel by 0622 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 2 cents to $82.35.
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Iran exported $3.0 billion worth of commodities to Iraq during the first three months of the current Iranian year, registering a 27 percent rise compared to the previous year's corresponding period, the caretaker of Iran’s Commercial Consultancy Office in Baghdad said.
Following the tragic loss of Ibrahim Raisi during the incident of a chopper crash in May, Iran held a snap presidential election in which Masoud Pezeshkian, a reformist-supported candidate was elected as the 9th president of the Islamic Republic of Iran in the run-off election on July 5.
Brent crude futures were down 36 cents, or 0.4%, at $86.18 a barrel, as at 0646 GMT. U.S. West Texas Intermediate crude was at $82.71 a barrel, down 45 cents, or 0.5%.
The head of the National Iranian Gas Company (NIGC) Majid Chegeni has officially unveiled the country’s energy and environment optimization market in the Iran Energy Exchange (IRENEX), Shana reported.
Indian Ambassador to Iran Rudra Gaurav Shresth says that if the Iranian economy was not under the pressure of sanctions, the volume of trade between the two countries could reach $16 billion while it is now as low as $2 billion.
Balanced development and completing the value chain are two main targets of the petrochemical industry which are expected to be attained over the next seven years.
The price of the OPEC basket of twelve crudes rose by 3.91 dollars month-on-month from 83.22 dollars on May 31 to 87.13 on June 30.
The electricity generated by renewable sources increased by 28 percent in the third Iranian calendar month (ended on June 20) compared to the same month last year, ISNA reported.
China’s independent refiners have increased their crude imports from Iran by 4.3 percent in June to an eight-month high of around 6.1 million metric tons.
The U.S. Coast Guard warned of possible Texas port closures from Corpus Christi to Houston and began restricting vessel traffic because of Tropical Storm Beryl, which is expected to become a hurricane before making landfall by Monday morning at Port Lavaca.
Official figures show that pro-reform candidate Masoud Pezeshkian wins about 16.4 million votes, thereby becoming Iran's new president. His conservative opponent Saeed Jalili garnered about 13.5 million votes.
Suncor Energy has shut down its 215,000 barrel-per-day (bpd) Firebag oil sands site in northern Alberta and curtailed some production as a precaution due to a wildfire about eight kilometres (5 miles) away, according to the company and an Alberta government minister.
Indian oil companies, BPCL, Hindustan, and BPCL are negotiating with Brazilian energy firm Petrobras to secure long-term crude oil supply contracts, as part of India's energy diversification strategy.
Brent crude futures was up 11 cents, or 0.13%, at $87.54 a barrel by 0817 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 24 cents, or 0.29%, to $84.12.
Iran and Turkmenistan have signed a gas swap deal under which Ashgabat will sell up to 10 billion cubic meters (bcm) of natural gas to Iraq each year.
China’s independent refiners have increased their crude imports from Iran by 4.3 percent in June to an eight-month high of around 6.1 million metric tons.
A visit to Russia by Indian Prime Minister Narendra Modi, expected within days, could help dispel worries that New Delhi is getting too close to the West and further away from Moscow, ceding space to China, analysts said.
Brent crude futures were down 43 cents, or 0.49%, at $86.91 a barrel by 0855 GMT while U.S. West Texas Intermediate (WTI) crude futures fell 49 cents, or 0.58%, to $83.39 in trade thinned by the U.S. Independence Day holiday.
While the enemy has announced clearly that it has failed to prevent Iran from selling its crude oil, some call it into doubt at home, the spokesman of the Iranian government Ali Bahadori-Jahromi announced.