Brent crude futures rose 85 cents, or 1.3 percent, to $67.99 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 87 cents, or 1.4 percent, to $65.24.
The United States is threatening India with what one senator has called an “economic bunker-buster”—a dramatic tariff strike if New Delhi continues to buy Russian oil, according to an Economic Times.
Despite recent days of heightened tensions following Israeli’s imposed war, Iran's daily oil production has continued without disruption and all oil installations remain operational, according to the National Iranian Oil Company (NIOC).
Tehran Governor General Mohammad-Sadeq Motamedian said Tuesday that despite multiple attacks on fuel storage facilities by enemy forces, fuel delivery continued uninterrupted with the help of neighboring provinces and armed forces.
Half of India‘s total natural gas requirement is met via imports that come through the Strait of Hormuz – supplied by Qatar and the UAE – and thus stands exposed to a higher risk of disruption, according to experts who track movement of energy supplies.
US President Donald Trump expressed a desire on Monday to see oil prices kept down amid fears that the aftermath of the attacks on Iran's nuclear facilities could cause them to spike.
Brent crude futures rose 16 cents, or 0.2 percent, to $76.61 a barrel. U.S. West Texas Intermediate crude futures rose 17 cents, also 0.2 percent, to $75.01 a barrel.
India's benchmark indexes fell on Tuesday due to Trump's urging Iranians to evacuate Tehran, escalating fears of a broader regional conflict amid ongoing Israel-Iran hostilities.
Iran's head of the Islamic Republic of Iran Customs Administration (IRICA) revealed that liquefied propane and natural gas were the primary non-oil products exported in the first two months of the current Iranian calendar year.
Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 27.022 million barrels per day (bpd) of oil in May, according to the group’s latest report.
As geopolitical tensions in West Asia escalate, particularly with the intensifying Israel-Iran conflict, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday assured the nation that India is well-positioned to meet its fuel demands without disruption.
President Masoud Pezeshkian emphasized standing firm against enemy aggression, stating that the government is working to ensure people’s daily lives remain unaffected.
attack on Iran’s oil facilities in Asaluyeh is a clear sign of the Zionist regime’s intent to drag others into this conflict, the Foreign Ministry spokesperson said.
Brent crude futures rose 64 cents, or 0.86 percent, to $74.87 a barrel, while U.S. West Texas Intermediate crude futures rose 76 cents, or 1.04 percent, to $73.74.
French oil major TotalEnergies will deploy 30% of its capital expenditure to build an integrated power business, its chief executive Patrick Pouyanne said on Monday.
The Organization of the Petroleum Exporting Countries (OPEC) has extends condolences over the recent aggression by the Zionist regime against Iran, a key member of the oil-producing bloc, in a formal letter addressed to Iranian officials.