Brent crude futures rose by $0.18 (0.27%) to $67.60 per barrel. US West Texas Intermediate (WTI) futures increased by $0.25 (0.40%) to $62.50 per barrel.
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China hasn’t brought in a single cargo of US liquefied natural gas (LNG) for a full year now, but that doesn’t mean it has completely walked away from the American supply.
India has sharply increased its purchases of discounted Russian crude oil since 2022, triggering tensions with the United States—including new tariffs under President Trump and threats of far steeper levies. Although a February 2026 trade deal brought some relief and a partial shift toward U.S. (and possibly Venezuelan) supplies, New Delhi continues to prioritize energy security for its 1.4 billion people and insists on maintaining strategic autonomy in sourcing oil—highlighting the deep geopolitical tug-of-war between Washington and Moscow over India’s growing energy needs.
Iranian Lawmakers approved allocating funds for the creation and expansion of natural gas storage infrastructure for the coming year.
Russia’s energy minister said a comprehensive agreement signed by the presidents of Iran and Russia, along with the outcomes of recent expert-level meetings, has paved the way for a new cooperation protocol and a fresh phase in ties between Tehran and Moscow.
Brent crude futures declined by 32 cents (0.47%) to $68.33 per barrel. In contrast, U.S. West Texas Intermediate (WTI) futures rose by 62 cents (0.99%) to $63.51 per barrel.
Hungary and Slovakia have asked Croatia to help them secure Russian oil and Hungarian company MOL initiated the release of strategic crude reserves after disruption to flows via Ukraine that the two countries have blamed on Kyiv.
China's oil imports from Russia are on track for all-time high of over 2 million barrels per day in February as India is withdrawing from Russian spot purchases and supply is now heavily discounted for Chinese independent refiners.
The project manager for development of the joint Farzad field said the first jacket for the Farzad B gas field has been successfully loaded and will soon be transported for installation in the Persian Gulf.
The CEO of the National Iranian Gas Company said gas tariff reforms are designed to improve consumption patterns rather than increase government revenue, stressing that smart management of consumption data, stronger network maintenance and precise implementation of optimization programs have helped stabilize the country’s gas network.
Brent crude futures slipped 3 cents (about 0.04%) to $67.72 per barrel. U.S. West Texas Intermediate (WTI) crude futures also dropped 3 cents (around 0.05%) to $62.86 per barrel.
In a move to help the chances of a trade deal with the United States, India intends to raise imports of U.S. liquefied petroleum gas (LPG) and reduce such purchases from the Middle East, anonymous sources familiar with the plans told Reuters on Thursday.
The National Petrochemical Company said it has fully lifted gas restrictions for petrochemical complexes, allowing companies to receive feedstock at their required capacity.
Iran and Russia are aiming to increase their annual bilateral trade to $20 billion, a senior Iranian oil ministry official said Monday, as the two countries opened a joint economic commission in Tehran.
US Secretary of State Marco Rubio stated that India has assured the White House it will not increase its purchases of Russian oil beyond current levels, following new US sanctions on Russia’s energy sector.
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed at a White House meeting on Wednesday that the U.S. would work to reduce Iran's oil exports to China, Axios reported, citing two U.S. officials briefed on the issue.
Iran’s unemployment rate reached 7.8 percent in autumn 1404 (September-December, 2025), marking a 0.6 percentage point increase compared with the same period last year, according to new data released by the Statistical Center of Iran.
The operator of Phase 13 of the South Pars gas field has announced the commissioning of a new well, boosting daily production from the phase by more than 1.5 million cubic meters.
Iran's parliament has set the National Development Fund's share of oil export revenue at 20% in next Iranian year's budget, which begins in March 2026.
A fire erupted Friday at Cuba’s Ñico López oil refinery in Havana, producing thick black smoke over the bay, but was swiftly brought under control with no injuries, authorities said, as the island endures an intensifying fuel shortage due to U.S. restrictions on Venezuelan oil supplies. The blaze, confined to a warehouse of unused additives near docked tankers, highlights the precarious energy situation gripping the nation.