World crude oil price today, May 2, 2025
Brent crude futures rose 49 cents, or 0.8 percent, to $62.62 a barrel, while U.S. West Texas Intermediate crude futures rose 50 cents, or 0.8 percent, to $59.74 a barrel.
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Indian Oil Corporation Ltd (IOCL), the country’s largest oil refiner, has entered into a five-year deal with global commodities trader Trafigura for the supply of liquefied natural gas (LNG), according to trade sources and a company statement.
President Donald Trump on Thursday threatened sanctions on anyone who buys Iranian oil, a warning that came after planned talks over Tehran’s rapidly advancing nuclear program were postponed.
Iran's National Petrochemical Company CEO expressed readiness to participate in Niger's petrochemical complex construction and supply urea for the African agricultural sector.
World crude oil price today, May 1, 2025
Brent crude futures fell 6 cents, or 0.1 percent, to $61 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.2 percent, to $58.09.
The US imposed sanctions on entities involved in the illicit trade of Iranian petroleum and petrochemicals ahead of a new round of US-Iran negotiations.
Iran’s oil minister announced the continuation of quality improvement projects at domestic refineries to enhance gasoline standards, stating that some refineries already produce Euro 4 and Euro 5 gasoline. Once these projects are completed, the supply of higher-quality fuel will increase.
The CEO of the National Petrochemical Company (NPC) announced that by the end of the Iranian calendar year 1404 (March 2026), the nominal production capacity of the petrochemical industry is expected to reach 105 million tons, with exports of approximately 34.8 million tons worth about $13.6 billion.
World crude oil prices today, April 30, 2025
Brent crude futures fell $1.13, or 1.8 percent, to $63.12 a barrel. U.S. West Texas Intermediate crude fell $1.11, or 1.8 percent, to $59.31 a barrel.
Abu Dhabi National Oil Company (ADNOC) will start replacing some of the liquefied petroleum gas it supplies to India with cheaper U.S. cargoes from June, industry sources said, as U.S.-China tariffs rejig global trade flows.
Iran’s first vice president announced that Iran is ready to cooperate with Niger in agriculture and energy, adding that the two nations can also share expertise in new technologies and artificial intelligence.
The Gas Exporting Countries Forum (GECF) expressed deep sorrow over the deadly explosion at Shahid Rajaee Port in Bandar Abbas of Hormuzgan Province offering condolences to Iran’s government and people.
India increased purchases of ESPO Blend oil from Russia in April to the highest level since August 2024 amid weaker demand from Chinese companies, according to LSEG and traders' data.
Iran and Azerbaijan are enhancing trade relations through joint projects, border trade exchanges, and transit corridor development, leveraging cultural, historical, and geographical similarities.
The deputy CEO of the National Iranian Drilling Company (NIDC) for drilling operations announced the drilling and completion of eight oil and gas wells using the company’s rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year.
Iran’s oil minister emphasized the country’s readiness to expand and strengthen bilateral cooperation in oil, gas, refining and petrochemicals during a meeting with Bolivia’s minister of energy and hydrocarbons.
World crude oil prices today, April 28, 2025
Brent crude futures fell 13 cents, or 0.19 percent, to $66.74 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.19 percent, to $62.90 a barrel.
Indian Oil GPS Renewables plans to invest Rs 1,200 crore in ten Compressed Biogas (CBG) projects across Uttar Pradesh, Haryana, Chhattisgarh, and Andhra Pradesh, marking a significant biofuel industry milestone.
The head of the Chamber of Commerce for Northeast Oman said Iran’s West Azarbaijan province offers exceptional development potential, adding that Oman is ready to invest in the region.
The director-general of HSE at the Ministry of Oil announced the deployment of expert and HSE teams from the ministry and the National Iranian Oil Refining and Distribution Company (NIORDC) in response to the incident at Shahid Rajaee Port in Bandar Abbas.