Brent crude futures slipped 3 cents (about 0.04%) to $67.72 per barrel. U.S. West Texas Intermediate (WTI) crude futures also dropped 3 cents (around 0.05%) to $62.86 per barrel.
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US Secretary of State Marco Rubio stated that India has assured the White House it will not increase its purchases of Russian oil beyond current levels, following new US sanctions on Russia’s energy sector.
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu agreed at a White House meeting on Wednesday that the U.S. would work to reduce Iran's oil exports to China, Axios reported, citing two U.S. officials briefed on the issue.
Iran's parliament has set the National Development Fund's share of oil export revenue at 20% in next Iranian year's budget, which begins in March 2026.
A fire erupted Friday at Cuba’s Ñico López oil refinery in Havana, producing thick black smoke over the bay, but was swiftly brought under control with no injuries, authorities said, as the island endures an intensifying fuel shortage due to U.S. restrictions on Venezuelan oil supplies. The blaze, confined to a warehouse of unused additives near docked tankers, highlights the precarious energy situation gripping the nation.
The United States has issued a general licence to India's Reliance Industries Ltd that will allow the refiner to buy Venezuelan oil directly without violating sanctions, two sources familiar with the matter said.
Brent crude futures fell 6 cents (0.1%) to $67.46 per barrel. U.S. West Texas Intermediate (WTI) crude futures also declined 12 cents (0.2%) to $62.72 per barrel.
Brent crude oil futures rose 21 cents (0.30%) to $69.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 26 cents (0.40%) to $64.89 per barrel.
India is already the third-largest consumer market for the oil exported by Petrobras, behind China and Europe.
Brent crude futures rose by 57 cents (0.83%) to $69.37 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 56 cents (0.88%) to $64.52.
India will continue to rely on a diversified mix of energy sources to ensure stable and affordable supplies for its consumers, Foreign Secretary Vikram Misri said, underscoring New Delhi’s focus on energy security and market-driven decisions.
Brent crude futures fell 16 cents (0.23%) to $68.88 per barrel. U.S. West Texas Intermediate (WTI) futures dropped 20 cents (0.31%) to $64.16 per barrel.
India has agreed to halt Russian oil purchases under a sweeping trade deal with the United States, marking a potential historic break in Moscow–New Delhi energy ties.
Brent crude futures dropped 67 cents (about 1%) on Monday to settle at $67.38 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) futures fell 61 cents (1%) to $62.94 per barrel.
Indian Oil Corp bought six million barrels of crude from West Africa and the Middle East, traders said, as the Asian country steered clear of Russian oil in New Delhi's push for a trade deal with Washington.
Indian refiners are avoiding Russian oil purchases for delivery in April and are expected to stay away from such trades for longer, refining and trade sources said, a move that could help New Delhi seal a trade pact with Washington.
Iran’s oil industry has set new records in production, exports and capacity development over the past 18 months, despite continued sanctions and external constraints.
US President Donald Trump has removed the 25 per cent tariffs it imposed on India for purchasing Russian oil, citing that the country has undertaken "significant steps" and New Delhi has committed to stop directly or indirectly importing oil from Moscow.
Brent crude futures fell 5 cents (0.1%) to $67.50 per barrel. U.S. West Texas Intermediate (WTI) crude futures also declined 11 cents (0.2%) to $63.18 per barrel.
Reliance Industries has partially unloaded a cargo of jet fuel in Italy. This is India's first export to the region since the EU ban on petroleum products derived from Russian oil came into effect on January 21, according to shipowners' data and trading sources, Reuters reports.