Oil Hits 2019 High
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 waivers allowing eight economies to buy Iranian oil without facing U.S.
Oil Hits 2019 High on U.S. Plan to Tighten Squeeze on Iran
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 waivers allowing eight economies to buy Iranian oil without facing U.S.
Iran's Oil Tanker Fleet Being Squeezed as Sanctions Bite
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.Since U.S. President Donald Trump reimposed sanctions in November…
Oil Slips as Pessimism Over Supply Resurfaces Despite OPEC Pledge
Oil fell on Monday, surrendering earlier gains as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output.Brent crude futures were down $1.04 at $65.72 a barrel at 1447 GMT, having retreated from a session high of $67.64.
Calm in Oil Markets Could be Short-lived -IEA
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S.
Iran's Oil Customers in Europe Might Reduce Imports
European oil companies are not ruling out reducing Iranian oil imports after the threat of new U.S. sanctions, with some expecting banking issues to hinder trade, but there was no rush to immediately cut volumes.U.S. President Donald Trump said on Tuesday the United States was exiting an international…
NY Charges 44 with Sweeping Fraud in Heating Oil Industry
New York City officials on Tuesday charged 44 people and nine companies with systematically cheating thousands of residential and commercial heating oil customers out of tens of millions of dollars for nearly a decade. The defendants include company owners and executives, truck drivers and dispatchers.
Libyan Oil Firm Postpones Dubai Conference to Discuss Contracts
A state oil firm loyal to Libya's official government based in the east of the country has postponed a conference in Dubai to discuss oil majors' existing contracts with the OPEC member country. The event will now be held on Sept. 16, two weeks later than originally planned, the organisers said in a statement late on Friday.
Eastern Libya Appoints New Chairman for its State Oil Firm
Libya's internationally recognised government has appointed Naji al-Maghrabi as chairman of its state oil firm NOC based in the east of the country, an oil official said on Saturday. The move is largely symbolic as oil production and the marketing of exports are controlled by the established state oil firm…
Iran Yet to Receive $7.8 bln for Oil Sales
Iran has yet to receive $7.8 billion for crude oil sales made in recent months, government spokesman Mohammad Baqer Nobakht was quoted as saying, as Western sanctions keep Tehran shut out of the global banking system. Iran's state-run Press TV said Nobakht gave no reason for payment delays, but reported that Tehran's oil customers were mainly China…
Iran's Oil Exports Surge above Sanctions
Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency's monthly report revised February's global crude imports from Iran upwards by 240…
