Brent crude rose $1.12, or 1.6 percent, to $69.27 a barrel, while U.S. West Texas Intermediate crude rose $1.77, or 2.77 percent, to $65.78 a barrel.
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Syria exported 600,000 barrels of heavy crude oil on Monday from the port of Tartus as part of a deal with a trading firm, a Syrian energy official told Reuters, the first known official export of Syrian oil in 14 years.
Bloomberg reported Sunday that India has turned to the spot market to secure shipments of Libyan oil, amid Washington’s efforts to choke off the flow of Russian crude into the country.
Iran’s oil industry aims to bring more than €3.7 billion worth of strategic projects online by the end of this year, focusing on boosting oil and gas production and processing capacity to ensure the country’s energy stability.
Brent crude rose 83 cents, or 1.2 percent, to $68.31 a barrel. U.S. West Texas Intermediate crude rose 83 cents, or 1.3 percent, to $64.84.
French oil major TotalEnergies has been awarded an exploration permit for the Nzombo area off the coast of the Republic of Congo, close to its already operational Moho facilities, it said on Monday.
India is not "profiteering" from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country's oil minister, said in the Hindu newspaper on Monday.
New Delhi has called the targeting of India over the purchase of Russian oil “unjustified and unreasonable” and said these imports began as its traditional supplies were diverted to Europe, with the US having “actively encouraged such imports by India for strengthening global energy markets stability”.
Brent crude futures fell 39 cents, or 0.6 percent, to $68.23, while West Texas Intermediate (WTI) crude futures fell 39 cents, or 0.6 percent, to $64.21.
Russian oil exports to India are set to rise in September, dealers said, as New Delhi defies U.S. punitive tariffs designed to force the country to stop the trade and push Moscow towards a peace deal with Ukraine.
Brent crude futures fell 50 cents, or 0.73 percent, to $67.55, while West Texas Intermediate (WTI) crude futures fell 51 cents, or 0.80 percent, to $63.64.
Brent crude futures fell 9 cents to $67.13 a barrel, while West Texas Intermediate (WTI) crude futures fell 8 cents to $63.17.
India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight.
Russia's fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow's fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West.
Brent crude fell 37 cents, or 0.5 percent, to $68.43 a barrel, while West Texas Intermediate (WTI) crude fell 40 cents, or 0.6 percent, to $64.40 a barrel.
Alberta, Canada's primary oil-producing province, is considering investing in Japan's refining sector to decrease its dependence on the US for oil exports.
Refiners in India, among the largest buyers of Russian crude, are planning to trim their purchases in the coming weeks, a modest concession to Washington’s hawks less than a day ahead of a hike in US tariffs, but also a signal that the country has no plans to sever ties with Moscow.
The CEO of the National Iranian Oil Company announced the country has set a new record for oil production.
Brent crude futures rose 29 cents, or 0.4 percent, to $68.02, while West Texas Intermediate (WTI) crude futures rose 36 cents, or 0.6 percent, to $64.02.
The managing director of Karoun Oil and Gas Production Co. announced a historic milestone in March 2025, with daily crude oil output reaching 1 million barrels for the first time.