Tag Archives: Iran

The American Petroleum Institute (API) reported a large crude oil inventory draw of 7.55 million barrels for the week ending June 20, but still coming in over analyst expectations of a much bigger 2.891-million barrel drawdown in inventories. Last week, the API reported a draw of 812,000 barrels. A day later, the EIA …

U.S.-Iran tension continues to rise over the attacked tankers in the Gulf of Oman, but oil traders no longer seem to be paying attention. U.S. Secretary of State Mike Pompeo hit the cable news circuit over the weekend to blame Iranfor the tanker attacks and to drum up support for more …

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, …

Iran’s elite Revolutionary Guards on Wednesday vowed revenge for twin attacks by the Islamic State group in Tehran, and said Washington and Riyadh were “involved”. “The Revolutionary Guards have always proven that they will never allow the blood of innocents to be spilt without revenge,” they said in a statement. …

Oil prices rose on Thursday with Brent briefly topping $50 thanks to a weaker dollar and a drop in US crude stockpiles, traders said. Brent North Sea crude reached $50.05 a barrel — breaching $50 for the first time since early last month. Later around 1230 GMT, Brent North Sea …

A man convicted of murdering a 4-year-old girl was publicly hung at a bus terminal in western Iran on Monday, a report said. The man was sentenced to death having been found guilty of raping and killing the girl before hiding her body under a highway bridge in May. The …

Oil reached a 2016 high, hitting 43 dollars a barrel on Tuesday, and supported by hopes that upcoming meeting of oil producers will agree on steps to tackle a supply glut. The rise was also supported by a weak U.S. dollar and further signs of strong demand in China. oil …

Minister of State for Petroleum Resources, Ibe Kachikwu has said government has not unbundled the Nigeria National Petroleum Cooperation, NNPC yet. Explaining the development at the oil sector in an interview with State House correspondents after the meeting of the Federal Executive Council, FEC, at the Presidential Villa, Abuja, the …

Russian President Vladimir Putin said Wednesday that he had sealed a pact with the country’s oil majors to freeze production as proposed last month by Moscow and Saudi Arabia to curb slumping prices. “Yesterday we met with the management of our leading oil firms, and on the whole an agreement …