A Teekay and COSCO joint venture operating LNG tankers serving Yamal LNG has been cleared to resume operations.
Tanker prices have rocketed over the last week, driven by US sanctions on various Chinese shippers, principally COSCO Dalian.
Oil price predictions always end in disaster but complacency in the market poses a number of risks, given global uncertainty.
The Gas Exporting Countries Forum (GECF) has expressed “deep concern” about sanctions in the gas sector, the group has said after a meeting in Moscow.
British special forces seized a supertanker off Gibraltar carrying Iranian oil to Syria in violation of European and U.S. sanctions against the war-torn country.
An oil tanker thought to be carrying Iranian oil to Syria has been detained by Royal Marines in Gibraltar.
Crude kept rising following its biggest weekly gain since late 2016 after PresidentDonald Trump said he would impose “major additional sanctions” on Iran, exacerbating tensions in the oil-rich Middle East.
The U.S. State Department sought to quash speculation that the Trump administration is easing its clampdown on Iranian oil exports after a sanctions waiver program ended May 2, saying there was no softening in the American stance that any country buying Iran’s oil would be subject to penalties.
The US said on Monday that it won’t extend the sanctions waivers for eight countries importing crude oil from Iran. The move could remove around 1.1 million barrels per day from the market.
Oil extended gains after leaping to a six-month high on Monday as the U.S. said it’ll no longer give any buyer of Iranian crude a waiver from sanctions aimed at cutting the OPEC producer’s exports to zero.
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Six months after the U.S. rocked oil markets by letting Iranian exports continue, its decision to end sanctions waivers that allowed shipments is also set to reverberate across the globe.
Uncertainty over U.S. waivers for buyers of Iranian oil is starting to grip the market again, under very different circumstances than when American sanctions were set to go into effect last year.
The UN's nuclear watchdog has said that Iran is abiding by the deal reached in 2015 with major powers that aimed at preventing Tehran from building atomic weapons in exchange for economic incentives.
Brent crude dropped below $70 per barrel for the first time since April today as waivers took the sting out of Washington's latest sanctions on Iran.
Crude’s poised for the longest losing streak since 2014 as concerns of a supply crunch eased on a forecast for rising U.S. production and waivers for eight countries allowing temporary import of Iranian oil.
Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy.
Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc.
Oil held near the lowest level in seven months as concerns over a supply crunch eased after the U.S. granted waivers to eight governments to continue buying some Iranian crude.
Britain will continue to expand trade relations with Iran despite Donald Trump's decision to re-impose sanctions on the state, Downing Street has said.
Oil extended its decline to a sixth day as the U.S. defended the temporary waivers given to eight nations to keep buying Iranian crude after American sanctions against the OPEC producer snapped back on Monday.
Iran has greeted the re-imposition of US sanctions with air defence drills and an acknowledgement from President Hassan Rouhani that the nation faces a "war situation".
Oil firm Serica Energy took another step towards completing a series of UK North Sea acquisitions today.
Oil sceptics have been proved right in downplaying sanctions against Iran.
The Trump administration has announced the reimposition of all US sanctions on Iran that had been lifted under the 2015 nuclear deal.