Brent crude rose 70 cents, or 0.9%, to $78.95 a barrel by 1148 GMT while U.S. West Texas Intermediate crude futures rallied 74 cents, or 1%, to $73.44.
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Canadian energy, power and mining companies are expected to lead a rebound in dealmaking this year helped by lower interest rates, following a slump in overall mergers and acquisitions in 2023 to the lowest since the outbreak of COVID-19, bankers said.
Oil futures settled higher Wednesday after reports of fatalities following explosions at a ceremony held to mark the four-year death anniversary of Shaheed Qasim Soleimani.
Oil Minister Javad Owji, in a message, expressed his heartfelt condolences on the martyrdom of more than 100 people in the twin terrorist attacks in Kerman, a city in southeastern Iran, on Wednesday.
Canada’s Saskatchewan province has removed the national fuel emissions charge, or carbon tax, from state-provided electric and natural gas heating, in a relief for families during the winter.
India's oil imports from Russia fell due to unattractive pricing and not because of payment problems, oil minister Hardeep Singh Puri said on Wednesday.
Brent crude fell 39 cents to $75.50 a barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures slipped 51 cents to $69.87 a barrel.
The head of Iran Chamber of Cooperatives has said the Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU) is going to increase export-oriented production and consequently improve the country’s economic indicators.
Dock No. 17 of Assaluyeh Port in Iran’s southern province of Bushehr and the first domestically-built cryogenic loading arm were put into operation in the presence of the National Petrochemical Company (NPC) managing director.
India has hiked the windfall tax on crude oil while reducing the tax on diesel and aviation turbine fuel, according to a government notification.
Natural gas supplies to Europe by Russian energy giant Gazprom were down 55.6% to 28.3 billion cubic metres (bcm) in 2023, Reuters calculations showed on Tuesday.
Brent crude rose $1.28, or 1.7%, to $78.32 a barrel by 0438 GMT while U.S. West Texas Intermediate crude was at $72.69 a barrel, up $1.04, or 1.5%.
The value of Iran’s exports to China increased by 24 percent in November 2023 as compared to the same month in 2022, according to China’s Customs data.
As reported by Iran’s Ports and Maritime Organization (PMO), 61,741,198 tons of oil products were loaded and unloaded in the ports of country during the first nine months of the present Iranian calendar year (March 21-December 21, 2023).
India has reduced domestic natural gas price to $7.82 per mmBtu, the lowest level since July 2023, effective from January 1 to January 31, 2024.
Iran's Association of Petrochemical Industry Corporation (APIC) secretary general said domestic petrochemical industry has fetched $61 billion over the past five years.
Iran’s Arya Sasol Polymer Company has achieved record production and sales, said the ASPC managing director.
OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the COVID-19 pandemic on the back of output cuts and member Angola's exit, according to Reuters calculations and data from forecasters.
In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war.
Ecuador has reached an agreement with an Indigenous community in the country's Orellana province to end the group's blockade of oil projects in the area, the ministry of energy and mining said on Saturday.