Brent futures for June delivery fell 70 cents, or about 0.8%, to $89.75 a barrel by 1133 GMT while West Texas Intermediate (WTI) futures for May delivery were down 74 cents, or about 0.9%, at $84.92.
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Iran has exported $2.217 billion worth of goods to India during the past Iranian calendar year (ended on March 19), according to an official with Iran’s Trade Promotion Organization (TPO).
The extension of a contract to export Iran’s gas to Iraq is the outcome of promoting energy diplomacy, particularly with neighboring states, said a member of the Parliament’s Energy Committee on Saturday.
Indian conglomerate Reliance Industries will not purchase Russian oil loaded on tankers operated by SCF following recent US sanctions, reported Reuters, citing sources.
Iran’s National Petrochemical Company (NPC) managing director said on Saturday 12 projects will become operational by the end of the Iranian calendar year of 1403 (March 20, 2025).
Canada, the world's fourth-largest oil producer, can be a key global supplier for years to come providing it sticks to promises to sharply cut emissions, the International Energy Agency (IEA) said on Thursday.
India has ordered companies to operate underutilized gas-based power plants in May and June and import coal-based plants until October 15 to meet high electricity demand.
Iran's oil production increased by 28,000 barrels in March 2024, marking the largest increase among OPEC members, according to the Monthly Oil Market Report.
The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.
The economy ministers of more than 30 African countries are expected to take part in the second Iran-Africa summit which is scheduled to be held in Tehran on April 26.
Brent crude futures climbed 79 cents, or 0.9%, to $90.53 a barrel by 0900 GMT, while U.S. West Texas Intermediate crude futures rose 92 cents, or 1.1%, to $85.94.
Biden's administration seeks an appeals court to consider international implications of Enbridge's Line 5 shutdown, arguing a federal judge did not fully consider treaty obligations.
India now consumes more than double the petrol it used a decade ago as new and larger vehicles are selling at a scorching pace. Diesel consumption is up by about a third while the overall oil demand is up by half.
The provision of foreign exchange funds for the Oil Ministry’s projects in collaboration with the Central of Bank of Iran (CBI) will be put on the agenda, said Oil Minister Javad Owji on Wednesday.
The poster of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition having the moto “Oil Industry; Surge in Production, Technological Optimization” was unveiled on Wednesday.
Brent crude futures were down 49 cents or 0.5% to $89.99 a barrel at 1030 GMT, while U.S. West Texas Intermediate crude futures lost 55 cents or 0.6% to $85.66 a barrel.
Canada's Newfoundland and Labrador province approved renewable energy firm World Energy's hydrogen plant on Tuesday, after more than 80 low-carbon hydrogen production projects have been announced in the country until March.
China and India remained the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to buy the fuels to partially replace crude oil, traders said and LSEG data showed.