World Brent crude oil price today February 27, 2025
Brent crude oil futures was up 2 cent at $72.55 a barrel by 0731 GMT. U.S. West Texas Intermediate crude oil futures were up 6 cents at $68.68 per barrel.
INTERNATIONAL Feed Atom
In a business world that strives for the win-win, U.S. President Donald Trump may achieve the rare lose-lose for consumers and producers with proposed tariffs on Canadian energy — but a windfall for U.S. government revenues.
The US sanctioned over 30 individuals and vessels, including four Indian firms, for their role in the sale and shipping of Iranian oil. The sanctions come amid ongoing efforts to curb Iran's oil exports, which primarily go to China using a network of shadowy intermediaries and vessels.
The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.
Iraq's oil ministry said in a statement on Saturday that all procedures had been completed to allow the resumption of exports through the Iraq-Turkey pipeline.
Sanctions have slashed Russian oil exports to India by about a quarter in February while the US oil exports have nearly doubled amid the country's plan to increase the purchase of American energy by two-thirds to $25 billion.
Oil India Limited has signed a Memorandum of Understanding with Mineral Exploration and Consultancy Limited to collaborate on the exploration and development of critical mineral blocks in India and overseas.
The United States jumped to the fifth-largest supplier to India, with imports tripling from December to January, and India plans to further increase US oil and gas imports.
India's Oil and Natural Gas Corp is seeking joint venture partners to build very large ethane carriers (VLECs) to ship feedstock for its petrochemical plant in western India, according to a document posted on the company's website.
India's oil imports from the United States rose sharply in January from December, turning Washington as the fifth largest oil supplier to New Delhi, data obtained from trade sources show.
World crude oil price today, February 18, 2025
Brent crude futures gained 23 cents, or 0.3%, to $75.45 per barrel at 0758 GMT.U.S. West Texas Intermediate crude futures were up 75 cents from Friday's close at $71.49 a barrel.
US President Donald Trump’s recent proposal to sell more oil and gas to India could significantly reduce New Delhi’s purchases of discounted Russian oil, thought to be funding Moscow’s war with Ukraine.
Indian state power company NTPC is looking to build 30 gigawatts (GW) of nuclear power capacity over the next two decades, three times more than expected, at a cost of $62 billion, three sources said.
Trump announced an agreement with Indian Prime Minister Modi, involving India importing more US oil and gas to reduce trade deficit between the two nations.
Petrobras, Brazil's state-owned energy company, has signed two MOUs and one framework agreement with India's state energy firms for cooperation in the oil and gas sector.
ADNOC Gas has signed a 14-year agreement to supply 1.2 million tonnes of LNG to Indian Oil Corporation Ltd, extending energy cooperation between the UAE and India.
World crude oil prices today, February 12, 2025
Brent futures fell 25 cents, or 0.3%, to $76.75 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 28 cents, or 0.4%, to $73.04 a barrel.
Oil India Ltd has signed an agreement with Petrobras to jointly bid for oil and gas exploration blocks in India, its chairman Ranjit Rath told Reuters on Tuesday.
Turkmenistan has signed a swap arrangement with Turkish energy company Bota to transit its natural gas through Iran, according to Halk Maslahaty Chairman Gurbanguly Berdimuhamedov.
India plans to launch new oil and gas licensing rounds this week, according to Oil Minister Hardeep Puri, as the country aims to increase its domestic hydrocarbon supply.