Front-month Brent crude futures due to expire on Thursday were up 11 cents to $86.86 a barrel at 1200 GMT, while U.S. West Texas Intermediate (WTI) crude futures edged up 19 cents to $82.14.
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More than 250,000 barrels per day of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude.
Iran’s oil production increased by 50,000 barrels per day (bpd) in the first two months of 2024 to hit 3.2 million bpd, according to a recent report by the International Energy Agency (IEA).
The newly elected government has decided to seek exemption from potential US sanctions against Pakistani entities to be involved in the construction of Pak-Iran gas pipeline.
A member of the Iranian Parliament’s Energy Committee said the development of the oil and gas industry was the main factor in domestic economic growth in the previous Iranian calendar year of 1402 (March 21, 2023-March 19, 2024).
Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 GMT. U.S. crude futures gained 40 cents, or 0.5%, to $81.03 per barrel.
Iran’s Oil Minister Javad Owji put great emphasis on making use of people’s capacities.
A bright future is awaiting Iran’s oil industry, said the Parliament’s Energy Committee vice-chairman on Sunday.
A year after the closure of the Iraq-Turkey oil pipeline, the conduit that once handled about 0.5% of global oil supply is still stuck in limbo as legal and financial hurdles impede the resumption of flows.
Iran and China have agreed on boosting cooperation in areas related to the environment through forming a joint working group.
The Oil Ministry led other ministries in terms of applying the expertise of knowledge-based companies in the Iranian calendar year of 1402, which ended on March 19, said a member of the Parliament on Saturday.
Indian Oil Corporation Ltd has made a grand entry as the official fuel partner of the prestigious Asia Road Racing Championship (ARRC) - 2024 with its latest superior performance fuel offering, 'STORM-Ultimate Racing Fuel, the state-owned oil giant said on Friday.
Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new liquefied natural gas (LNG) plants to lift demand - and prices - for the fuel.
The Gas Exporting Countries Forum's (2050) forecast report projects that global natural gas investments will total almost $9 trillion by 2050, with $8.2 trillion directed toward the upstream sector and $0.74 trillion for the midstream sector.
The oil sector’s economic growth in the previous Iranian calendar year (ending March 19) shows that the sanctions imposed on the industry have failed, said a member of the Parliament.
All of India's refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday.
Brent crude futures fell 53 cents, or 0.6%, to $85.25 a barrel by 0651 GMT. U.S. crude futures shed 52 cents, or 0.6%, to $80.55 per barrel.
Swap of Iraqi refined products for Iranian gas could help settle an $11 billion debt but also risks friction with U.S. over sanctions.
Russian President Vladimir Putin said the successful holding of the 17th Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation in Tehran and the 77% growth in goods trade are positive signs of the promotion of bilateral cooperation.
Canada's main crude-producing province Alberta introduced a bill to repeal the provincial carbon tax on Wednesday, setting up a legal tussle between Premier Jason Kenney's United Conservative Party and Justin Trudeau's Liberal government in Ottawa.