Brent crude fell 35 cents, or 0.51 percent, to $68.45 a barrel, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37 percent, to $66.75.
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India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
Saudi Arabia and Indonesia have signed agreements worth $27 billion, covering clean energy, petrochemical industries, and aviation fuel services, during Indonesian President Prabowo Subianto's visit to the Kingdom.
The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
spokesperson for Iran’s Union of Exporters of Oil, Gas, and Petrochemical Products stated that the oil market is simultaneously influenced by fundamental factors, countries’ economic conditions, and political developments.
Brent crude futures fell 58 cents, or 0.8 percent, to $68.53 a barrel. U.S. West Texas Intermediate crude fell 57 cents, or 0.9 percent, to $66.88.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
Iranian energy minister announced that next week, three new packages, one conventional and two more technical models, will be unveiled for the construction of household solar power plants.
The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria.
Oil Minister Mohsen Paknejad said Wednesday that Iran’s oil exports are continuing unchanged in volume and terms, adding, “At present, we have no concerns in this regard.”
Brent crude rose 5 cents to $67.16 a barrel, while U.S. West Texas Intermediate crude was flat at $65.45 a barrel.
Informed trade sources have revealed that Saudi Aramco, the world's largest oil exporter, plans to raise its official selling prices for oil to Asian markets in August, marking the highest levels since April.
India's renewable energy sector faces financial challenges as subsidy ends, requiring projects to pay transmission costs after June, potentially increasing green energy tariffs and hindering clean energy goals.
Iran's Energy Minister, Abbas Aliabadi, launched 316 megawatts of solar capacity across 40 sites, praising local efforts in Mahallat County for driving renewable transition and reaffirming government support for solar investment.
During the 12-day war between Iran and Israel, Iran experienced a 50% increase in gasoline consumption, posing logistical challenges for fuel distribution, but fuel supply remained uninterrupted.
Iran's first vice president reported that gasoline consumption exceeded production by 80 million liters on the first day of the 12-day war, but the economic situation was effectively managed.
Brent crude rose 10 cents, or 0.2 percent, to $66.84 a barrel, while U.S. West Texas Intermediate crude rose 9 cents, or 0.1 percent, to $65.20 a barrel.
A tanker carrying the first cargo of liquefied natural gas from LNG Canada set sail Monday from British Columbia’s northern coast, heralding the commercial startup of the $18-billion Shell PLC-led export terminal and ushering in Canada’s long-awaited debut into the global LNG market.
Despite a projected decline in long-term global oil demand and a slowdown in 2025 due to Trump's tariffs, S&P Global Commodity Insights forecasts India will lead future oil demand growth, increasing import dependency.
A member of the Iranian Parliament’s Energy Committee described the oil industry’s performance during the 12-day war with the Zionist regime as a prime example of infrastructure resilience, centralized command and organizational cohesion.