Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.OPEC and its allies led by Russia agreed last week to extend their supply-cutting deal until March 2020…
Oil prices were mixed on Tuesday ahead of data expected to show U.S. crude stocks declining, outweighing investors' concerns that U.S.-China trade tensions could dampen fuel demand.Benchmark Brent crude futures settled up 19 cents, or 0.3%, at $65…
Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.Brent crude was up $0…
Iran has created a grave situation and jeopardized global oil supplies with its aggressive behavior, Saudi Arabia's minister of state for foreign affairs said on Thursday, adding that the kingdom was consulting with allies on next steps.The…
Two oil tankers were attacked in the Gulf of Oman on Thursday, leaving one ablaze and both adrift, shipping firms said, driving oil prices as much as 4% higher over worries about Middle East supplies.The Front Altair, carrying petrochemical feedstock…
Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend…
The decision by the US government not to extend sanctions wavers for eight countries importing crude oil from Iran could remove around 1.1 million b/d from the market. But Saudi Arabia and several allies can replace the lost barrels, says a report…
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
Oil prices rose slightly on Thursday, boosted by a decline in U.S. inventories, ongoing supply cuts from OPEC and its allies, and U.S. sanctions on Venezuela and Iran.Brent crude futures were at $71.80 a barrel at 1313 GMT, up 18 cents from…
Iran and Iraq have reached an agreement for joint development of the Naft Shahr and Khorramshahr joint oil fields, Iranian Minister of Petroleum Bijan Zangeneh said.Speaking on Sunday, on during a visit to the Energy Industries Engineering and Design (EIED…
Iran is running short of options to replace its ageing fleet of tankers and keep oil exports flowing because renewed U.S. sanctions are making potential sellers and flag registries wary of doing business with Tehran, Western and Iranian sources said…
Oil prices edged higher on Wednesday, supported by OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, but gains were capped by falling stock markets and renewed concerns over demand growth.Brent crude futures gained 26 cents…
U.S. sanctions on Iran, Venezuela tighten markets, but soaring U.S. shale output offsets some of the disruption.Oil fell on Wednesday after the U.S. government said shale output would rise to a record next month, denting a rally that sent prices to their highest this year…
Iranian Oil Minister Bijan Zanganeh said on Thursday U.S. sanctions against his country were 'fully illegal' and Tehran would not comply with them.Zanganeh, speaking at a joint news conference in Baghdad with Iraqi Oil Minister Thamer al-Ghadhban…
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