China's crude oil imports decreased by 5% in 2024 due to the Biden administration's sanctions on Russian energy, impacting international flows.
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India's BPCL plans to issue a tender for U.S. WTI crude in four consecutive months this summer, according to a source familiar with the plans.
World crude oil prices today, March 7, 2025
Brent crude futures rose 93 cents, or 1.34%, to $70.39 a barrel by 1017 GMT. U.S. West Texas Intermediate futures rose 88 cents, or 1.33%, to $67.24 a barrel.
The Trump administration is considering stopping and inspecting Iranian oil tankers at sea under an international agreement to prevent the spread of weapons of mass destruction.
World crude oil price today, March 6, 2025
Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.
U.S. exports of crude oil to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
A faculty member at Allameh Tabataba'i University stated that the oil industry requires substantial investment, emphasizing that existing perspectives on concession agreements need revision.
World crude oil price today March 5, 2025
Brent futures fell $1.47, or 2.1%, to $69.57 a barrel by 1408 GMT. U.S. West Texas Intermediate (WTI) crude declined $1.77, or 2.6%, to $66.49 a barrel.
World crude oil prices today, March 4, 2025
Brent futures were down 90 cents, or 1.26%, to $70.72 a barrel at 0827 GMT while U.S. West Texas Intermediate (WTI) crude was off 79 cents, or 1.16%, to $67.58.
The National Iranian Oil Company (NIOC) has set the official selling prices (OSP) for Iranian crude oil in March. According to the company, Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.
The Economic Council, reviewed and approved a request from the Ministry of Oil to amend a previous resolution regarding a gas supply project for power plants on Kish Island and to invest in the development and operation of the Band Karkheh oil field.
World crude oil price today March 3, 2025
Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%.
India’s imports of crude oil from Russia slumped this month to the lowest level since January 2023, according to data analytics company Kpler, underlining how stringent US sanctions have disrupted supply chains.
A new monitoring system aimed at advancing development projects and increasing production at the Aban, Paydar Gharb, Cheshmeh Khosh, Dalpari, and Paydar Sharq oil fields was unveiled Wednesday.
World Brent crude oil price today February 27, 2025
Brent crude oil futures was up 2 cent at $72.55 a barrel by 0731 GMT. U.S. West Texas Intermediate crude oil futures were up 6 cents at $68.68 per barrel.
Shazand Oil Refinery's CEO confirmed normal operational activities, no disruptions to production or output of strategic products like gasoline and other essential derivatives.
World crude oil price today February 26, 2025
Brent crude eased by 3 cents to $72.99 a barrel by 1142 GMT while U.S. West Texas Intermediate crude oil futures gained 3 cents to $68.96.
In a business world that strives for the win-win, U.S. President Donald Trump may achieve the rare lose-lose for consumers and producers with proposed tariffs on Canadian energy — but a windfall for U.S. government revenues.
The US sanctioned over 30 individuals and vessels, including four Indian firms, for their role in the sale and shipping of Iranian oil. The sanctions come amid ongoing efforts to curb Iran's oil exports, which primarily go to China using a network of shadowy intermediaries and vessels.
World crude oil prices today February 25, 2025
Brent crude oil futures rose 15 cents or 0.2 percent to $74.93 per barrel. West Texas Intermediate (WTI) crude oil rose 23 cents, or 0.3%, to $70.93 a barrel