Brent crude futures rose 20 cents, or 0.29 percent, to $68.64 a barrel, while U.S. West Texas Intermediate crude rose 15 cents, or 0.23 percent, to $65.31 a barrel.
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Iran’s oil minister emphasized the continuation of the country’s oil exports, stating that the Ministry of Petroleum has necessary plans in place to address sanctions and the potential activation of the "snapback" mechanism.
Central European Petroleum, a Canadian company, has discovered 200 million barrels of recoverable oil and gas at the Wolin East well in Poland, marking the largest petroleum discovery in Northern Europe in over a decade.
Brent crude futures rose 20 cents, or 0.29 percent, to $69.38 a barrel, the highest in a week. U.S. West Texas Intermediate crude futures rose 20 cents, or 0.30 percent, to $66.23.
Brent crude futures rose 54 cents, or 0.8 percent, to $69.05 a barrel. U.S. West Texas Intermediate crude futures rose 58 cents, or 0.9 percent, to $65.83 a barrel.
TotalEnergies reported a 23% fall in second-quarter earnings on Thursday, the French oil major's worst performance in four years but in line with expectations, as lower oil and gas prices outweighed a rise in production and power sales.
Isfahan Oil Refining Company has launched the pilot operation of the first phase of a major seawater transfer project, aiming to supply around 700,000 cubic meters of water each month to the refinery, its head announced.
Another tanker will not load fuel from India’s Nayara Energy refinery, which is under sanctions. This is the second such vessel to alter plans due to European Union restrictions, Reuters reports.
Brent crude futures rose 21 cents, or 0.31 percent, to $68.80 a barrel. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.26 percent, to $65.48 a barrel.
Indian refiners' crude throughput declined by 4.2% month-on-month in June to 5.41 million barrels per day (22.13 million metric tons), according to provisional government data released on Tuesday.
Iran’s top economic council has approved an emergency plan to increase daily crude oil production by 250,000 barrels, with 80 percent of the funding to be provided by the National Development Fund (NDF), the country’s sovereign wealth fund.
Brent crude futures fell 53 cents, or 0.8 percent, to $68.68 a barrel. U.S. West Texas Intermediate crude fell 63 cents, or 0.9 percent, to $66.57 a barrel.
The European Union's delayed ban-effective January 21 next year-on fuels made from Russian crude offers temporary relief, but its restrictive definition of such fuels could pose a challenge to Indian exporters.
Specialists at Iranian Offshore Oil Company (IOOC) designed and manufactured spare parts for safety valves at the Salman oil and gas platform using domestic expertise and reverse engineering, overcoming challenges posed by international sanctions.
Brent crude futures were down 12 cents, or 0.2 percent, at $69.16 a barrel after falling 0.35 percent on Friday. U.S. West Texas Intermediate crude was flat at $67.34 after falling 0.3 percent in the previous session.
India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said.
Iran's oil and petroleum products pipeline network is set to surpass 15,000 kilometers after major transmission projects are completed and commissioned.
The deputy speaker of Iran’s Parliament praised the operational teams at the Abadan Oil Refinery for containing the fire at Unit 70 of the facility.
India's Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, hopes for a potential reduction in petrol and diesel prices, pending stable global crude oil prices for the next two to three months.
The European Union has imposed sanctions on India's Nayara Energy's Vadinar refinery in Gujarat, as part of its 18th sanctions package targeting Russia's energy sector. The move aims to curb Russia's war budget but has sparked India's criticism of the EU's energy trade standards.