All of India's refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday.
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Brent crude futures fell 53 cents, or 0.6%, to $85.25 a barrel by 0651 GMT. U.S. crude futures shed 52 cents, or 0.6%, to $80.55 per barrel.
Canada's main crude-producing province Alberta introduced a bill to repeal the provincial carbon tax on Wednesday, setting up a legal tussle between Premier Jason Kenney's United Conservative Party and Justin Trudeau's Liberal government in Ottawa.
One of India's largest state-owned refiners, Bharat Petroleum Corporation Limited (BPCL), has signed an agreement with supermajor BP to buy U.S. WTI crude for four months beginning in June, trade sources told Reuters on Wednesday.
Brent crude futures for May were down 3 cents to $85.92 a barrel. U.S. West Texas Intermediate futures for May were down 10 cents, or 0.1%, to $81.17 a barrel.
India is set to import in April its highest oil volumes from the United States in 11 months as the stricter enforcement of the U.S. sanctions against Russia are slowing Russian crude flows to the world's third-largest crude importer.
Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas Intermediate futures for April delivery ,fell 47 cents, or 0.6%, to $83.00 a barrel.
Iran’s Oil Minister Javad Owji and Russian Deputy Prime Minister Alexander Novak hold phone talks on bilateral cooperation and oil market on Monday.
Iran’s government spokesman posted on X, formerly known as Twitter, that the contracts signed for the development of six oil fields will create job opportunities for 60,000 people.
The Brent crude oil futures for May delivery slipped 15 cents to $86.74 a barrel as at 0708 GMT, while U.S. West Texas Intermediate (WTI) prices fell 13 cents to $82.03. The WTI April contract.
Saudi Aramco is set to reduce its supply of crude oil to customers in China and India due to upcoming oilfield maintenance, according to comments made by five sources on March 11.
Brent crude oil futures for May delivery were up 62 cents, or 0.7%, at $85.96 a barrel by 1019 GMT. The April contract for U.S. West Texas Intermediate (WTI) crude was up 70 cents, or 0.9%, at $81.74.
Iran exported oil without a pause during the current Iranian calendar year (to end on March 19), said Oil Minister Javad Owji on Sunday.
The National Iranian Oil Company (NIOC) signed a contract with two domestic companies on Sunday for development of Soumar, Saman, and Delavaran oil fields.
Chinese oil major CNOOC is sending a group of senior executives to Angola for talks on oil exploration opportunities, the Angolan oil and gas ministry said on Sunday.
The National Iranian Oil Company and Dasht Azadegan Arvand Oil and Gas Development Company signed a contract on the integrated development of Azadegan joint oil field on Sunday.
Iran’s biggest contracts in the past decade worth over $13 billion will be signed in the presence of Oil Minister Javad Owji and National Iranian Oil Company (NIOC) Managing Director Mohsen Khojastehmehr.
The Indian government has raised its windfall tax on petroleum crude to 4,900 rupees ($59.15) a tonne from 4,600 rupees with effect from March 16, according to a government notification released on Friday.
The oil tanker NS Century, which is under sanction by the United States, arrived at the Chinese port of Qingdao late on Thursday to discharge its cargo of Russian crude oil, LSEG shipping data showed.
Brent crude oil futures were down 45 cents or 0.6% to $84.83 a barrel at 1155 GMT, a day after topping $85 a barrel for the first time since November. U.S. West Texas Intermediate (WTI) crude was down 47 cents or 0.6% to $80.70.