Brent crude futures fell 87 cents, or 0.82%, to $105.73 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $1.56, or 1.65%, to $93.05 a barrel.
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A 60% capital increase at Nouri Petrochemical, listed under the ticker Nouri, has been officially recorded at the companies registry after approval by an extraordinary general meeting and completion of the legal steps.
The manager of Refinery 7 at the South Pars Gas Complex said two important results were recorded during this year’s turnaround and that, relying on Iranian crews, replacement of the floor of one amine tank was cut from a planned 28 days to six days.
The TankerTrackers account said the United States has taken 6 million barrels of Iranian oil from tankers it seized in the Indian Ocean in April–May 2026.
Saudi Arabia has sold close to 100 million barrels of crude for October and November delivery to Asian customers after a temporary shutdown of its East-West oil pipeline forced the kingdom to move more oil through the Strait of Hormuz, the waterway off Iran.
Brent crude futures fell 92 cents, or 0.9%, to $102.16 a barrel. U.S. West Texas Intermediate (WTI) futures eased 77 cents, or 0.8%, to $91.39.
Abadan Oil Refining Company said smoke rising from the site was caused by a disruption in the water, power, and steam system of one refinery unit.
The first shipment of Jam Petrochemical’s F7000 grade has been loaded, putting the high-density polyethylene product on the market under Jam’s commercial name and brand.
The chief executive of Pars Oil and Gas Company said South Pars has set a record of 730 million cubic meters of gas a day and that 30 million cubic meters have been added to the field’s stable rich-gas production capacity over the past two years.
The chief executive of the West Oil and Gas Production Company said a project to clean contaminated soil in the Naftshahr operating area is using new environmental technologies.
An extraordinary general meeting of the National Petrochemical Company was held with the company’s chief executive and representatives of the relevant agencies present, and the financial statements for the fiscal year ended March 20, 2026, were approved.
Brent crude futures fell 78 cents, or 0.79%, to $98.47 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.21, or 1.34%, to $89.31 a barrel.
Two backup pumps on the firewater ring of Damavand Energy Assaluyeh have entered service to strengthen safety infrastructure and raise the reliability of the firefighting water network for Phase 2 petrochemical plants in Assaluyeh.
The spokesman for parliament’s internal affairs and councils committee said lawmakers will question the oil minister on why long-term contracts to sell Iranian oil to China were canceled.
Metering equipment at the South Pars gas-condensate terminal in Asaluyeh — including 13 damaged meter blades — has been rebuilt.
The chairman of parliament’s energy committee said two questions for the oil minister remain before the panel and that issues raised by the lawmakers from Shazand and Shush will be examined in specialized subcommittees with the questioning members and the committee’s presiding board present.
Brent crude futures fell $2.01, or 2%, to $98.33 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $2.50, or 2.61%, to $93.28 a barrel.
Oil Minister Mohsen Paknejad has appointed Omid Shakeri as deputy oil minister and chief executive of the National Petrochemical Company.
Baltic Exchange data show the daily charter rate for a very large crude carrier on the Persian Gulf-to-China route has risen above $1 million.
The production and operations manager of Pars Oil and Gas Company said a specialized offshore valve-repair workshop has been set up, cutting South Pars platform downtime and returning units to production faster. The change has prevented a shutdown of 28 million cubic meters of gas a day and generated more than $5 million in economic savings.