Brent crude futures fell 58 cents, or 0.9 percent, to $63.81 a barrel. U.S. West Texas Intermediate (WTI) crude fell 59 cents, or 1 percent, to $59.50.
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India has exported its first-ever cargo of jet fuel to the U.S. West Coast, capitalizing on a rare arbitrage window created by severe supply shortages in California following a major fire at Chevron’s El Segundo refinery.
Iran became the fifth-largest importer of gold in the world by recording a demand of 58 tons of gold in the first nine months of 2025. The rate reflects a significant increase in consumption and huge currency pressure.
The first mobile TSP-type multiphase pump station at Well 21 in the Ahvaz field boosted output from 800 to 1,200 barrels per day and will eliminate the annual flaring of 1 million cubic meters of associated gas, according to NISOC.
KazMunayGas and Uzbekneftegaz signed a framework agreement on the implementation of a linear alkylbenzene production project, Kazinform News Agency reports citing the KMG press service.
Iran's Islamic Revolution Guards Corps (IRGC) Navy has seized an oil tanker off the southern coast of Makran under a judicial order over violations by the vessel.
A senior Chinese business leader in Tehran said Iran–China trade could expand several-fold if structural barriers are removed, citing vast untapped economic and geopolitical potential.
Mohammadreza Joulaei, production coordination and oversight director at the National Iranian Gas Company, announced that the country’s gas network remains stable despite household and commercial consumption nearly doubling due to colder weather, with all refineries fully operational after scheduled maintenance.
The Trump administration has allowed potential buyers to negotiate with Russia’s Lukoil over its foreign assets and approved business dealings with its Burgas refinery following Bulgaria’s move to seize the facility.
Saudi Aramco will sign LNG supply deals with Woodside Energy and Commonwealth LNG during Crown Prince Mohammed bin Salman’s upcoming visit to Washington.
Iran’s industrial parks have boosted solar capacity from 23 MW to 400 MW in one year, advancing ISIPO’s plan to power them fully with renewables.
Brent crude rose 79 cents, or 1.25 percent, to $63.80 a barrel, while U.S. West Texas Intermediate crude rose 82 cents, or 1.38 percent, to $59.50 a barrel.
The head of oil and gas production supervision at the National Iranian Oil Company (NIOC) described Health, Safety and Environment (HSE) as the backbone of the company’s value chain, emphasizing the importance of HSE participation from the design phase through operations to minimize potential risks.
Brent crude futures were unchanged at $62.71 a barrel, while U.S. West Texas Intermediate crude fell 3 cents, or 0.1 percent, to $58.46 a barrel.
The International Energy Agency (IEA) says India will become the new epicenter of global oil demand growth, with its energy consumption projected to rise by an average of 3% annually through 2035.
Iran’s renewable energy capacity is hoped to reach 4,000 megawatts (MW) by the end of the next Iranian calendar month (December 21), according to Mohsen Tarztalab, deputy energy minister and head of the Renewable Energy and Energy Efficiency Organization (SATBA).
The director of the CNG project at the National Iranian Oil Products Distribution Company announced the signing of two major agreements with domestic firms active in vehicle gas conversion, saying the contracts—worth a total of $23 million—will help save about 161 million liters of gasoline annually.
Brent crude fell 32 cents, or 0.5 percent, to $64.84 a barrel. U.S. West Texas Intermediate crude fell 35 cents, or 0.6 percent, to $60.69 a barrel.
India’s ONGC forecasts a significant production boost in FY2026-27, targeting 21 MMT of crude oil (up from 19.8 MMT) and 21.5 BCM of natural gas (up from 20 BCM).
Iran and Kuwait have signed a five-point agreement to expand trade and investment following the 13th Joint Trade Committee meeting in Kuwait, held after an 11-year pause, according to the Trade Promotion Organization of Iran (TPO).