India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
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The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
Brent crude futures fell 58 cents, or 0.8 percent, to $68.53 a barrel. U.S. West Texas Intermediate crude fell 57 cents, or 0.9 percent, to $66.88.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria.
Brent crude rose 5 cents to $67.16 a barrel, while U.S. West Texas Intermediate crude was flat at $65.45 a barrel.
Informed trade sources have revealed that Saudi Aramco, the world's largest oil exporter, plans to raise its official selling prices for oil to Asian markets in August, marking the highest levels since April.
Brent crude rose 10 cents, or 0.2 percent, to $66.84 a barrel, while U.S. West Texas Intermediate crude rose 9 cents, or 0.1 percent, to $65.20 a barrel.
Despite a projected decline in long-term global oil demand and a slowdown in 2025 due to Trump's tariffs, S&P Global Commodity Insights forecasts India will lead future oil demand growth, increasing import dependency.
A member of the Iranian Parliament’s Energy Committee described the oil industry’s performance during the 12-day war with the Zionist regime as a prime example of infrastructure resilience, centralized command and organizational cohesion.
The CEO of Iran’s Offshore Oil Company announced the return of the Salman field’s water injection system to service, stating that with the startup of the gas injection compressor turbine by the end of the first half of this year, oil production from the shared Salman field will increase, and flared gas will also be reduced.
Brent crude futures fell 12 cents, or 0.18 percent, to $67.65 a barrel. U.S. West Texas Intermediate crude fell 36 cents, or 0.55 percent, to $65.16 a barrel.
The Indian Navy swung into action after receiving a distress call of an oil tanker catching fire in the Gulf of Oman on Sunday. Indian Navy's stealth frigate INS Tabar was mobilised to rescue Pulau flagged MT Yi Cheng 6, which reported a major fire after engine failure.
A member of Parliament's Energy Committee praised the Oil Ministry's selfless efforts during the 12-day Zionist regime war, highlighting the selflessness of its employees.
Ukraine will initiate appropriate sanctions against those countries that buy the most Russian oil, Ukrainian Foreign Minister Andriy Sybiha said.
The CEO of the National Iranian Oil Company (NIOC) described Operation "True Promise 3" as a symbol of the Islamic Republic of Iran's defensive strength and the nation’s decisive response to enemy aggression.
TotalEnergies is in advanced discussions to sell its shale oil assets in Argentina, with two suitors submitting bids, aligning with CEO Patrick Pouyann's statement of divesting stakes at the right price.
India's US oil imports surged over 270% YoY in Q1 2025, highlighting its strategy to boost American imports amid trade pact negotiations and diversify crude oil sources.
World crude oil price today June 27, 2025
Brent crude futures rose 36 cents, or 0.53%, to $68.09 a barrel while U.S. West Texas Intermediate crude gained 33 cents, or 0.51%, to $65.57.
China's Iranian oil imports surged in June as shipments accelerated before the recent conflict in the region and demand from independent refineries improved, analysts said.