US to boost pressure on China to stop importing Iran oil, envoy says
The US said it will increase pressure on China to stop buying Iranian oil, as the White House seeks to enforce sanctions aimed at curbing the Islamic Republic’s nuclear activities.
Iran
Drone attack off Oman targets Israeli-owned tanker
Eastern Pacific Shipping has confirmed that one of its product tankers appears to have been hit by a “projectile” offshore Oman.
Iran oil workers join protests over death of 22-year-old woman as UK sanctions morality police
Fresh violence erupted in a Kurdish city in western Iran and reports emerged of oil workers joining nationwide protests that have spread since the death of a 22-year-old woman last month in the custody of the nation’s so-called “morality police.”
Iran may drain offshore crude oil cache if nuclear deal reached
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out.
Oil prices don’t fully reflect Russian supply risks, Vitol says
Oil prices have fallen to levels that don’t reflect the risk of disruptions to Russian exports or the ability of China to keep the coronavirus pandemic under control, according to the world’s biggest independent crude trader.
Security risks abound for MENA oil supply
The Middle East and North Africa region is at “growing risk” of oil supply disruption, a new analysis from Verisk Maplecroft has reported.
Iranian missiles target Israelis in Kurdistan, miss US consulate
Iran’s Islamic Revolutionary Guards Corp (IRGC) fired missiles into a Kurdistan city, the autonomous region of Iraq, on March 12.
Methane emissions ‘significantly higher than countries claim’
Emissions of planet-warming methane from oil, gas and coal production are significantly higher than world governments claim, according to the International Energy Agency.
Oil rally pauses as traders take stock of Ukraine crisis, Iran
Oil headed for a weekly loss as investors weighed the crisis over Ukraine and the possibility that Iran’s nuclear deal may be revived.
Oil steadies as US stockpiles drop with focus on Iran progress
Oil was steady in Asian trading after a surprise decline in US crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
Biden, Saudi King discussed oil price stability and Yemeni war
President Joe Biden spoke on Wednesday with King Salman of Saudi Arabia about ensuring stable energy prices as well as Mideast security, in light of recent attacks by Yemeni rebels, and the status of talks over Tehran’s nuclear program.
Dwindling OPEC+ spare capacity sets oil up for sizzling summer
As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies -- potentially setting up crude prices for a sizzling summer.
Iran insists on crude oil exports as Vienna nuclear talks resume
Iran has insisted that the United States and its allies should promise to allow Tehran to export its crude oil as negotiations on restoring the tattered nuclear deal resume in Vienna.
Guide: The polluting countries that could derail COP26 climate talks
More than 190 countries signed on the dotted line of the Paris Agreement in 2015, forming a new global consensus on the imperative to halt rising temperatures. The collective results since then haven’t been enough.
‘Distressed’ crude from Venezuela, Iran stacks up off Singapore
Oil stored in ships has been piling up off key Asian ports as a crackdown in China on private crude oil processors has blunted purchases and disrupted flows, including some US-sanctioned barrels from Iran.
Lebanon fuel crisis takes its toll
Fuel shortages are taking their toll in Lebanon, including on the UK embassy, which is withdrawing some staff.
US sanctions Omani businessman for Iranian oil smuggling
The US government has sanctioned an Omani businessman for his participation in oil smuggling for Iran, with the proceeds going to destabilise the region.
Iran’s rapid oil comeback looks less likely after tanker attack
Iran’s oil comeback, already taking longer than many traders expected, will be further complicated by last week’s deadly drone attack on a tanker in the Gulf of Oman, which the US, UK and Israel all blamed on Tehran.
UK blames Iran for deadly attack on tanker
The UK has accused Iran of being behind an attack on a tanker offshore Oman on July 29 and is working with partners on a response.
Iran opens Hormuz bypass with Jask terminal
Iran has opened a new export terminal in Jask, in the south of Iran, allowing it to bypass the Straits of Hormuz.
Alfa Laval settles with US over trade with Iran
Alfa Laval has settled a complaint from the US about exporting storage tank cleaning units to Iran.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Oil steady near $74 with focus turning to upcoming OPEC+ meeting
Oil held near $74 a barrel as investors focused on an OPEC+ meeting this week that may pave the way for more supply from the group.
Oil sinks amid dollar strength with Iran nuclear deal looming
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors.
Indonesia releases Iran oil tanker seized four months ago
Indonesia released on Friday an Iranian-flagged ship it had seized four months ago over suspected illegal transfer of crude oil, an Indonesian official and Iranian state media said on Saturday.