Brent crude futures fell 18 cents, or 0.2%, to $77.15 a barrel by 1003 GMT, while U.S. West Texas Intermediate futures were at $72.04 a barrel, down 24 cents, or 0.3%.
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UK banks have provided bank accounts to holding companies linked to a state-backed Iranian petrochemicals company which has been under western sanctions since 2018, according to claims and reports.
India has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels.
Iranian Oil Minister Javad Owji held talks with Venezuela’s high-ranking officials on bilateral relations and ongoing projects in Caracas.
Brent crude futures settled at $77.33 a barrel, shedding $1.37, or 1.7%. U.S. West Texas Intermediate crude futures settled at $72.28 a barrel, falling $1.54, or 2%.
The loading and unloading of oil products in the ports of Iran increased by four percent in the first ten months of the present Iranian calendar year, as compared to the same period in the past year, the country’s Ports and Maritime Organization (PMO) announced.
Iran asserts that the U.S. threat to re-impose sanctions on Venezuela’s oil industry is illegal under international law and the UN Charter.
The U.S. Department of Justice (DOJ) on Friday announced terrorism and sanctions-evasion charges and seizures linked to a billion-dollar oil trafficking network that it claims finances Iran’s elite Islamic Revolutionary Guard Corps (IRGC).
A specialized working group was formed by the order of Oil Minister Javad Owji to redress energy imbalance.
India has proposed to supply liquefied natural gas (LNG) to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.
Brent crude futures were up 50 cents, or 0.6%, at $79.20 a barrel by 1001 GMT and U.S. West Texas Intermediate crude futures gained 47 cents, or 0.6%, to $79.20.
The head of Iran’s National Petrochemical Company (NPC) has said 95 percent of the catalysts used in the country’s oil industry are produced by domestic companies, Mehr News Agency reported.
Iran’s President Seyyed Ebrahim Raeisi said on Thursday the completion of downstream industry and value chain enhances raw materials with added value.
The 52nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday.
Brent crude futures were up 68 cents at $81.23 a barrel by 1140 GMT. U.S. West Texas Intermediate crude futures gained 65 cents to $76.50.
Iranian Foreign Ministry spokesman Nasser Kanaani on Wednesday reacted to the joint statement of Saudi Arabia and Kuwait on the joint Arash gas field following a visit by the Kuwaiti emir to Riyadh.
The National Productivity Organization of Iran head said the country looks to the oil industry – the industry of work and efforts – for economic growth.
A member of Iran’s Parliament on Wednesday described the Oil Ministry’s performance in the energy diplomacy as “successful” and “transformational”.
A reimposition of U.S. sanctions on Venezuela's oil and gas sectors would hurt the OPEC country's ability to collect cash from its oil exports, crimp new energy investments and raise the risks of domestic fuel scarcity, analysts and executives said.
Brent crude futures for March, fell 27 cents, or 0.3%, to $82.60 a barrel by 0441 GMT. The more actively-traded. U.S. West Texas Intermediate crude futures declined 23 cents, or 0.3%, to $77.59 a barrel.