Brent crude futures fell 27 cents, or 0.32%, to $84.68 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 11 cents, or 0.14%, to $79.49 per barrel.
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The United Arab Emirates raised its crude oil production by 1,707 thousand barrels per day in June 2026, reaching 3.818 million barrels per day, according to OPEC's monthly report cited by Trading Economics. This output level is the highest recorded since April 2020.
Technical and contractual negotiations have begun for the development of the Yadman oil field as part of Iran's broader strategy to expand production from its oil fields, according to the head of the Petroleum Engineering and Development Company (PEDEC).
Brent crude futures rose 69 cents (0.8%) to $85.42 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 73 cents (0.9%) to $80.07 per barrel.
Oil minister said Tuesday that crude oil sales are continuing through the same mechanisms used before a recent 60-day sanctions waiver period, following the US breach of that agreement.
Brent crude oil futures rose by $2.89 (equivalent to a 3.47% increase) to reach $86.19 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures increased by $1.53 (equivalent to a 1.96% rise) to $79.67 per barrel.
Iran's oil exports are continuing without interruption despite the termination of a 60-day exemption tied to US sanctions, the country's oil minister said.
President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway.
Brent crude oil futures rose $2.39 (equivalent to 3.14%) to $78.40 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures also increased by $2.17 (3.04%) to $73.58 per barrel.
The Caretaker of the Physical Asset Management Department at the Ministry of Oil announced that establishing an Operation, Maintenance, and Repair (O&M) Contractors Association is one of the highest-priority initiatives in the ministry's roadmap for improving O&M services across the oil industry.
The global oil market will break out of its roughly $80-$100 range by the first quarter of 2027 at the latest, boosting inflation and reducing energy demand, if the Middle East conflict continues, Claudio Descalzi, the CEO of Italian state-controlled group Eni said.
The CEO of the National Iranian Oil Company (NIOC) emphasized accelerating oil and gas field development, removing project bottlenecks, increasing production, and fast-tracking flare gas recovery projects as key strategic priorities for Iran’s oil industry.
Brent crude futures rose 19 cents, or 0.25%, to $76.49 per barrel. U.S. West Texas Intermediate (WTI) crude futures also increased 19 cents, or 0.26%, to $72.27.
India's top explorer Oil and Natural Gas Corp will build a 1.75 million metric ton (MT) national strategic petroleum reserve in Mangalore in southern India, the company said in a stock exchange filing late Thursday.
Iran has rushed out five supertankers and one Suezmax vessel carrying roughly 11 million barrels of crude in the past 24 hours, as strikes between the US and Iran threaten to escalate into another blockade on its ports, Bloomberg reported on Thursday.
Brent crude oil futures rose $0.83, or 1.06%, in today’s trading to settle at $78.88 per barrel. U.S. West Texas Intermediate (WTI) crude futures also climbed $0.80, or 1.09%, to $74.37 per barrel. The gains were recorded relative to yesterday’s closing prices.
a statement issued on Wednesday, the Foreign Ministry said the US Treasury Department’s decision to revoke the temporary suspension of sanctions on Iran’s oil sales constituted “a flagrant violation of Clause 10 of the Memorandum of Understanding on the Termination of the War, dated June 18, 2026.”
Shipping traffic through the Strait of Hormuz has virtually come to a standstill today, according to vessel-tracking data cited by Bloomberg.
Brent crude futures rose $2.40, or 3.2 percent, from the previous settlement to reach $76.56 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $2.26, or 3.2 percent, to $72.70 per barrel.
Indian state-held refiners are considering buying Iranian crude oil if the United States extends the waiver on Iran's oil sales beyond August or further eases restrictions on that trade.