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.
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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.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
India has increased crude oil purchases from Russia since 2022, causing tensions with the US, leading to a 25% penalty tariff on India over the existing 25% reciprocal tariff.
Ukraine attacked the Druzhba pipeline for the third time, halting oil deliveries to Slovakia and Hungary. The European Commission has not reacted so far, but US President Donald Trump said he was very angry.
Brent crude futures rose 12 cents to $67.79 a barrel, while West Texas Intermediate (WTI) crude futures rose 13 cents to $63.65.
Russian Foreign Minister Sergei Lavrov announced Russia and India are exploring joint energy ventures, including oil and gas projects in the Far East and Arctic, amid US tariff increases.
The United Kingdom government imposed sanctions on one Iranian individual and four entities on Wednesday with the accusation of what has been called "facilitating Tehran's cross-border activities”.
The US announced new sanctions Thursday targeting individuals and companies it alleged were facilitating Iran’s illicit oil sales.
Brent crude futures rose 46 cents, or 0.7 percent, to $67.30 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 0.8 percent, to $63.21 a barrel.
Russia has a “very special mechanism” to maintain crude oil supplies to India despite punishing US tariffs, a senior Russian diplomat posted in New Delhi said Wednesday.
Iran’s crude oil production rose by about 200,000 barrels per day (bpd) in July, according to the International Energy Agency (IEA), which reported the country’s output reached 3.27 million bpd.
Iran’s oil minister said Wednesday the country has no unsold crude stored offshore, adding that all oil shipments are planned in line with market conditions.
Brent crude futures rose 55 cents, or 0.8 percent, to $66.34 a barrel. U.S. West Texas Intermediate crude futures rose 65 cents, or 1 percent, to $63.
India's state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday.
State-owned Indian Oil Corporation Ltd has signed a Memorandum of Understanding (MoU) with Air India for the supply of Sustainable Aviation Fuel (SAF) for remarkable green future of aviation fuel strategy.
The International Energy Agency reported that Iran’s crude oil production rose by about 200,000 barrels in July.
Brent crude futures fell 48 cents, or 0.72 percent, to $66.12 a barrel. U.S. West Texas Intermediate crude futures fell 40 cents, or 0.63 percent, to $63.02 a barrel.
India should halt purchases of Russian crude oil as the trade undermines efforts to isolate Moscow, the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times on Monday.
Brent crude futures rose 0.46 percent, or 30 cents, to $66.15 a barrel, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.61 percent, to $63.18 a barrel.