Iran has set the official selling price for its light crude oil grade for Asian buyers at $4.35 a barrel below the Oman/Dubai average for August, the state-owned National Iranian Oil Company said on Wednesday.
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Kuwaiti oil tanker that was passing through the US-Omani corridor in the Strait of Hormuz was stopped by Iranian armed forces.
Brent crude futures rose by $1.89 (2.12%) to $91.11 per barrel. U.S. West Texas Intermediate (WTI) crude futures also increased by $2.07 (2.49%) to $85.30 per barrel.
Crude oil exports from Saudi Arabia fell for a third straight month in May to a record low, data from the Joint Organizations Data Initiative (JODI) showed on Tuesday, with the U.S.-Iran conflict disrupting shipments across the Gulf.
Brent crude futures rose 18 cents (0.2%) to $88.28 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 34 cents (0.4%) to $82.15 per barrel.
The Manager of Engineering and Development at the National Iranian Oil Company, referring to the meeting between Iran's Oil Minister and Russia's Minister of Energy, emphasized the continuation of cooperation between the two countries in developing oil and gas fields.
The Central Treatment of Export Petroleum (CTEP) unit at the Azadegan oil field is on the verge of full operational capacity after completing production trains A and B and launching pre-commissioning operations, the Petroleum Engineering and Development Company (PEDEC) reported.
Two oil tankers were attacked at the Caspian Pipeline Consortium (CPC) terminal off Russia's Black Sea coast, CPC said on Sunday, adding that oil loadings are suspended.
Canada’s largest oil refinery is planning to shut down for maintenance in the fall, potentially exacerbating fuel market tightness in northeastern U.S. states that rely on the plant for gasoline and diesel imports.
A new production well at the Cheshmeh Khosh, Dalpari and Paydar-e Sharq oil fields has come online, adding 5,500 barrels of crude oil per day, concurrent with the 30th Joint Management Committee (JMC) meeting for the fields' development project.
Brent crude oil futures contracts rose by $1.77, or 2.1 percent, reaching $86 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures contracts increased by $1.91, or 2.4 percent, to $80.86.
If the U.S. and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday.
The Bill exempts countries, mostly European nations, whose imports of Russian natural gas account for less than 15% of Russia's total natural gas exports and which are taking significant steps to reduce those imports.
Brent crude futures fell 27 cents, or 0.32%, to $84.68 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 11 cents, or 0.14%, to $79.49 per barrel.
The United Arab Emirates raised its crude oil production by 1,707 thousand barrels per day in June 2026, reaching 3.818 million barrels per day, according to OPEC's monthly report cited by Trading Economics. This output level is the highest recorded since April 2020.
Technical and contractual negotiations have begun for the development of the Yadman oil field as part of Iran's broader strategy to expand production from its oil fields, according to the head of the Petroleum Engineering and Development Company (PEDEC).
Brent crude futures rose 69 cents (0.8%) to $85.42 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 73 cents (0.9%) to $80.07 per barrel.
Oil minister said Tuesday that crude oil sales are continuing through the same mechanisms used before a recent 60-day sanctions waiver period, following the US breach of that agreement.
Brent crude oil futures rose by $2.89 (equivalent to a 3.47% increase) to reach $86.19 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures increased by $1.53 (equivalent to a 1.96% rise) to $79.67 per barrel.
Iran's oil exports are continuing without interruption despite the termination of a 60-day exemption tied to US sanctions, the country's oil minister said.