Brent crude futures fell 83 cents, or 0.8%, to $99.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1.1%, to $88.43 a barrel.
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The Yaran oil-field development project manager said the latest execution, technical, financial, human-resources, and HSE status of the scheme was reviewed at the 19th Joint Management Committee meeting.
Brent crude futures rose 5 cents to $102.30 a barrel. U.S. West Texas Intermediate (WTI) futures fell 49 cents, or 0.5%, to $90.62 a barrel.
The acting oil minister said the oil industry is in an all-out economic war and that new strategies will be used to push oil production to the maximum and keep exports going in the way most useful to the country.
The chief executive of Gachsaran Oil and Gas Production Company said oil and gas output continued without a break during the third imposed war and that, despite hard conditions, production did not fall. Operational projects added 15,000 barrels a day to the Mansourabad field.
A turnaround of equipment and replacement of worn process lines at the Asmari-1 gas compressor station of the National Iranian South Oil Company has been completed, aimed at maintaining physical assets, keeping production going, and raising operating safety.
Tajikistan has begun receiving oil and fuel products from Iran. The move opens a new export market in Central Asia and could affect Iran’s foreign-currency earnings.
The Group of Seven has called for 100 million barrels of oil to be released from strategic stocks over the next four months to curb a jump in fuel prices and sharp swings in the oil market. The step is part of an earlier decision by the countries that is now being carried out.
Brent crude futures fell 70 cents, or 0.7%, to $101.61 a barrel. U.S. West Texas Intermediate (WTI) crude futures also fell 85 cents, or 0.9%, to $92.02 a barrel.
Iranian Parliament Deputy Speaker Ali Nikzad said the United States will never be able to reduce Iran’s oil exports to zero, arguing that Washington had drawn up plans targeting Iran’s oil and a significant share of the world’s oil resources and believed it could pressure Iran’s economy by gaining control of the Strait of Hormuz, but had failed to understand the Iranian people.
Daily oil production from Iran’s Shadegan Oil Field has increased by 17,000 barrels following the successful completion of the first production target under the field’s development and production contract.
OPEC+ producers are expected to leave their November oil-output targets unchanged at Sunday’s meeting.
Brent crude futures rose 84 cents, or 0.82%, to $103.43 per barrel. U.S. West Texas Intermediate (WTI) crude futures also rose 25 cents, or 0.28%, to $89.63 per barrel.
The National Iranian Drilling Company (NIDC) drilled and completed 63 oil and gas wells in Iran’s onshore and offshore oil-producing areas during the first half of 2026, according to the company’s CEO. Of the total, 48 wells were completed as part of well workover and maintenance operations, while 15 were development and appraisal wells.
The CEO of the National Iranian Offshore Oil Company (NIOOC) announced plans to deploy three new drilling rigs, saying their addition will increase the operational capacity of the company’s drilling fleet and accelerate drilling operations in fields under its management, particularly the Qeshm gas fields.
Brent crude futures rose $1.71, or 1.6%, to $106.99 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.40, or 1.5%, to $94 a barrel.
A member of the Islamic Consultative Assembly’s economic committee said a parliamentary inquiry into the National Iranian Oil Company has begun. He listed the main aims as a precise review of violations, recovery of public assets, identification and action against those involved, and reform of oil-sales processes.
Indian Oil Corporation has bought 2 million barrels of Iraqi crude at a discount of about $28 a barrel to the Dubai benchmark for October 2026 delivery. The deal was done on a free-on-board (FOB) basis.
Sedigheh Khazaei, deputy oil minister for management development and human capital, said people must be treated with respect when their requests and complaints are handled, and that attention to public feeling is essential. Serving the ministry’s target community well is a priority, she said.
Brent crude futures rose $3.43, or 3.29%, to $107.75 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $2.14, or 2.32%, to $94.55 a barrel.