Brent crude futures rose 40 cents, or 0.4%, to $101.61 a barrel. U.S. West Texas Intermediate (WTI) futures gained 49 cents, or 0.51%, to $96.54 a barrel.
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The production manager of the National Iranian South Oil Company (NISOC) said the company is continuing programs to identify, gather, and allocate associated gas, adding that most of the identified volumes have already been assigned to qualified firms and that remaining volumes are still being processed.
The CEO of Khazar Oil Company said the Iran Amir Kabir semi-submersible drilling rig is being prepared, after nearly a decade of inactivity, through major overhaul and reconstruction work to carry out oil and gas exploration drilling in the deep waters of the Caspian Sea.
Brent crude futures rose $2.77, or 2.83%, to $100.69 a barrel. U.S. West Texas Intermediate (WTI) futures gained $2.18, or 2.34%, to $95.21 a barrel.
National Iranian Oil Company CEO Hamid Bovard said the Varavi pressure-boosting plant is finished and development of South Pars Phase 11 is under way, as NIOC rolls out a wide slate of field projects.
Brent crude futures rose $2.00, or 2.06%, to $99.00 a barrel. U.S. West Texas Intermediate (WTI) crude gained $2.93, or 3.2%, to $94.41 a barrel.
Development of Iran’s Susangerd oil field has begun with the start-up of Well No. 4, and first-phase output is targeted at 18,000 barrels a day.
Brent crude futures fell 9 cents, or 0.1%, to $96.19 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 45 cents to $91.03 a barrel.
The first engineering, procurement and drilling (EPD) project run by the National Iranian Oil Company’s Exploration Directorate at the shared South Azadegan field has brought 10 Fahliyan and Gadvan wells back into production, the project manager said.
Lorestan’s governor has warned that the oil depot in Khorramabad’s Masur district must be moved because it sits too close to residential housing.
Iran is still selling crude without a break and there is no problem in oil trade, Supreme National Security Council Secretary Mohsen Rezaei said.
Iraqi Oil Minister Basim Mohammed Khudair said the country’s crude oil export capacity has increased to more than 3 million barrels a day and that Baghdad is planning a path to 5 million barrels a day.
Output at Iran’s South Azadegan oil field has risen from about 130,000 barrels a day at the start of the 14th government to more than 183,000 barrels a day, Petroleum Engineering and Development Company (PEDEC) Managing Director Nasrollah Zarei said, as the company completed 320,000 barrels a day of processing capacity and advanced other development work.
Several tankers carrying about 7 million barrels of oil and gas are preparing to transit the Strait of Hormuz with a U.S. escort, tanker-tracking firm TankerTrackers said Saturday.
Iran Oil Terminals Company (IOTC) has received €500 million in funding for priority rehabilitation and upgrade projects aimed at restoring idle capacity, reinforcing export infrastructure and raising operational readiness across the country’s crude oil loading system, the company’s managing director said.
Brent crude futures were unchanged at $95.52 a barrel on Friday, September 4, while U.S. West Texas Intermediate (WTI) rose 7 cents, or 0.1%, to $91.36 a barrel.
According to a report by Iran’s Audit Organization, the National Iranian Tanker Company recorded 35.8 trillion tomans in net profit in the year ended January 2026.
The CEO of the Iran Energy Exchange said the market has the capacity to expand crude exports and that offering Iran’s export oil on the exchange could diversify sales methods, ease some of the problems in selling and settling oil deals, and help finance upstream oil and gas development.
Iran’s oil minister said oil and gas production rose, flare-gas collection accelerated, South Pars pressure-boosting projects moved forward, crude processing capacity increased at shared fields, and diesel imports stopped during the Oil Ministry’s two years in the 14th government. He said Iran’s crude exports did not halt for even one hour during the 40-day war.
Brent crude futures fell 59 cents, or 0.62%, to $95.04 a barrel. U.S. West Texas Intermediate (WTI) futures dropped 38 cents, or 0.42%, to $90.63 a barrel.