The U.S. said on Thursday it has imposed new sanctions on Iran's military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz.
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Brent crude futures rose by $1.75, or 1.86%, to $96.04 per barrel. U.S. West Texas Intermediate (WTI) futures rose by $2.08, or 2.35%, to $90.76.
Bharat Petroleum Corporation Limited (BPCL) has appointed Pushp Kumar Nayar as Director (Human Resources), strengthening the leadership bench at a time when India’s energy sector is balancing operational scale, workforce transformation and digital capability building.
Iran’s Energy Minister stated that targeting water and energy facilities is a direct threat to global security and public health, and by presenting six proposals, called for the formation of a regional assembly for water and climate cooperation.
Brent crude oil futures dropped by $3.11 (a 3.12% decrease) to $96.47 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell by $3.64 (a 3.88% decrease) to $90.25 per barrel.
Canada is set to announce a deal to supply Germany with liquefied natural gas from a planned export facility on the coast of British Columbia, according to people familiar with the matter.
Turkey will build a 97-kilometer subsea natural gas pipeline to Northern Cyprus to bolster energy security and potentially link Eastern Mediterranean gas reserves to European markets, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced.
Brent crude futures rose by $2.03, or 1.86%, to $111.29 per barrel. U.S. West Texas Intermediate (WTI) crude futures also climbed $2.31, or 2.19%, to $107.73 per barrel.
The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude to expire.
Iranian President Masoud Pezeshkian said revenues generated through better domestic gas consumption management could significantly improve people’s livelihoods and public welfare.
Brent crude futures rose by 26 cents, or 0.25%, to $105.89 per barrel. U.S. West Texas Intermediate (WTI) crude futures also climbed 32 cents, or 0.32%, to $101.34 per barrel.
The 60% increase in gasoline prices in Canada following the war against Iran has driven up costs across the country.
The managing director of the Iranian Gas Engineering and Development Company called for faster execution of South Pars refinery reconstruction projects during an on-site visit, urging contractors to strictly adhere to the schedule, strengthen cooperation among project teams and expand technical and operational coordination with South Pars Gas Complex Company.
Brent crude futures fell by 82 cents, or 0.76%, to $106.95 per barrel. U.S. West Texas Intermediate (WTI) crude futures also declined by 66 cents, or 0.65%, to $101.52 per barrel.
According to oil industry experts, Iran's national CNG network, with 2,365 active stations, is a trump card that can reduce gasoline consumption by up to 24 million liters per day without spending a single additional rial.
Brent crude futures dropped by $14.51 (13.3 percent) to $94.76 per barrel. US West Texas Intermediate (WTI) crude futures fell by $17.16 (15.2 percent) to $95.79 per barrel.
Following the ceasefire and the end of the war, natural gas prices have fallen by 20 percent since last night.
In the wake of the Ramadan War developments and ongoing Israeli-American regime attacks, the price of Iranian heavy crude oil has jumped from around $60-66 per barrel in the first two months of 2026 to $111.80, while Iranian light crude has reached $113.70 per barrel.
Brent crude futures rose by 57 cents, or 0.5 percent, to $110.34 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $1.26, or 1.1 percent, to $113.67 per barrel.
In a significant maritime event, a Japanese-owned liquefied natural gas (LNG) carrier successfully transited the Strait of Hormuz.