Brent crude oil futures rose by 42 cents, equivalent to 0.7 percent, reaching $60.10 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by 44 cents, equivalent to 0.79 percent, reaching $56.38 per barrel.
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Asia’s purchases of U.S. crude oil, liquefied natural gas (LNG), and coal are set to fall this year, defying President Donald Trump’s aggressive use of tariffs and trade deals to ramp up American energy exports.
A growing fleet of tankers carrying Russia’s flagship Urals crude oil has accumulated off China’s eastern coast, following a sharp reduction in purchases by India—the grade’s largest buyer—due to Western sanctions.
Iran is accelerating refinery upgrade projects under its Seventh National Development Plan, concentrating resources and management on three national priority initiatives, according to NIORDC’s chief.
Cumulative oil production from the Sepehr and Jofeir oil fields has surpassed 34.5 million barrels, according to a report presented at the 24th meeting of the Joint Management Committee for the fields’ development and production increase plan.
Brent crude oil futures rose by 79 cents (1.3 percent) to $59.71 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by 77 cents (1.4 percent) to $56.04 per barrel.
TotalEnergies has agreed to sell an indirect interest of approximately 10% in Malaysia’s offshore Block SK408 to Thailand’s state-backed PTTEP for an undisclosed sum, the French energy major announced on Tuesday.
Nigeria earned about ₦12.81 trillion from crude oil exports in Q3 2025, representing 56.14% of total exports and highlighting a recovery in oil revenues.
The chief executive of Shazand Oil Refining Company said liquefied petroleum gas flaring has stopped at the facility, marking the first time in a year that no LPG was burned and all output was sold.
The managing director of Iran’s Central Oil Fields Company said sweet gas produced at the Cheshmeh Khosh gas refinery and the NGL 3100 plant has been successfully injected into the country’s national gas pipeline.
Brent crude futures dropped 35 cents (0.6%) to $60.21 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 30 cents (0.5%) to $56.52 per barrel.
Canada’s Imperial Oil plans to boost 2026 capital spending to C$2.0–2.2 billion and raise output to 441,000–460,000 boepd, prioritizing oil sands projects at Kearl and Cold Lake to cut costs and strengthen cash flow amid weaker oil prices.
India’s Petroleum Minister Hardeep Singh Puri announced that ONGC will soon begin production at West Bengal’s Ashoknagar oil field after resolving regulatory issues, with ₹1,000 crore invested since its 2018 discovery and land provided on a nominal lease.
The project manager for the Phase 13 development at the South Pars gas field said drilling has been completed and a new well brought online, increasing the field’s daily gas production capacity by 1.7 million cubic meters.
The head of the National Iranian Gas Company said gas deliveries to the petrochemical industry rose 19.4% above the company’s commitments despite the onset of colder weather this fall.
Brent crude oil futures rose 30 cents (0.49%) to $61.42 per barrel. U.S. West Texas Intermediate (WTI) crude futures also gained 28 cents (0.49%) to $57.72.
Japan’s leading city gas supplier, Tokyo Gas, plans to allocate more than half of its 350 billion yen ($2.3 billion) overseas investment budget over the coming three years to the United States, CEO Shinichi Sasayama announced in an exclusive interview.
Indian Prime Minister Narendra Modi and Russian President Vladimir Putin reaffirmed their energy partnership in New Delhi, with Russia pledging steady fuel supplies to India despite U.S. sanctions and tariffs on discounted crude imports.
Iran’s oil minister said the country plans to build and commission over 1,000 kilometers of gas pipelines by year’s end to boost energy security and reliability during peak demand.
President Masoud Pezeshkian said all revenue generated from the fuel price reform plan will be spent entirely on improving people’s livelihoods and that not a single rial may be used for other government purposes.