A number of Iranian lawmakers hailed the 13th administration’s performance in the energy sector.
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Brent crude futures were down 16 cents, or 0.2%, at $91.01 a barrel by 1335 GMT. U.S. West Texas Intermediate crude was down 9 cents, or about 0.1%, at $86.82. Both benchmarks lost more than $2 earlier in the session.
India is concerned about rising crude prices, but oil marketing companies will take measures to mitigate the impact on retail consumers if the trend persists.
The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran's oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch.
Iraqi Oil Minister Hayan Abdul-Ghani plans to increase daily production capacity to five million barrels despite market restrictions and OPEC quota limitations for price stability.
Russia's Orsk oil refinery suspended work on Sunday, after the city's dam burst on Friday night amid flooding in the surrounding Orenburg region, Russian news agency cited the plant's press service as saying.
A member of Iran’s Parliament said increasing investments, development of oil fields, and infrastructure measures in the oil industry are among promising economic moves.
Saudi Arabia has raised the official selling price (OSP) for its flagship Arab Light crude oil for customers in Asia and the Mediterranean in May, an Aramco statement showed on Friday.
Iran’s oil minister said on Friday the resistance front’s actions in vital crossings have deterred energy exports to the occupied Palestinian territories.
Brent crude was up 36 cents, or 0.4%, to $91.01 a barrel by 1031 GMT. U.S. West Texas Intermediate crude was at $86.79 a barrel, up 20 cents, or 0.2%.
Deloitte Canada anticipates an increase in Canadian crude prices in 2024, attributing the expected rise to the commencement of the Trans Mountain Expansion (TMX) pipeline project later this year.
There was no surprise that a top meeting of OPEC+ ministers opted to keep output policy unchanged since the global crude oil market is almost exactly where the exporter group wants it.
The United States has not asked India to cut Russian oil imports as the goal of sanctions and the G7-imposed $60 per barrel price cap is to have stable global oil supplies while hitting Moscow's revenue, an American treasury official said on Thursday.
Brent futures for June fell 5 cents to $89.30 a barrel at 0919 GMT. U.S. West Texas Intermediate (WTI) futures for May fell 1 cent to $85.42 a barrel.
The National Iranian Oil Company (NIOC) says the country has discovered shale oil deposits in 10 different locations across the country.
The Khanaqin administration announced on Tuesday the imminent beginning of exploration and development of oil and gas production service in the Khanah Oil Field, on the border with Iran, by a large Chinese company to enhance oil and gas production and reserves.
Brent crude futures for June rose 17 cents, or 0.19%, to $89.09 per barrel at 0650 GMT, while U.S. West Texas Intermediate crude futures for May climbed 7 cents, or 0.08%, to $85.22 a barrel.
Rise in oil prices does not contribute to improvement of economic growth, said the Iranian government’s economic spokesman on Tuesday.
Canada's First Nations are buying stakes in Canadian energy projects at an accelerating pace as they seek economic benefits from projects on their land and companies look to raise capital.
Brent futures for June delivery were up $1.29, or nearly 1.5%, at $88.71 a barrel by 0912 GMT. U.S. West Texas Intermediate (WTI) crude futures for May rose $1.30, or about 1.6%, to $85.01.