EghtesadOnline: Iran's crude oil traded at about $43 per barrel in the week to June 30 amid concerns about rising US crude inventories and limited impact of an OPEC-led scheme to reduce supplies and raise prices.
EghtesadOnline: Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC.
EghtesadOnline: Oil dipped on Wednesday, pulled down by another rise in OPEC supplies despite a pledge to cut production, but geopolitical tensions in the Korean peninsula and the Middle East put a floor under prices.
EghtesadOnline: A reinvigorated shale oil industry and higher supplies from other producers will continue to keep prices in check, Hossein Amiri-Khamkani, a member of Majlis Energy Commission, said.
EghtesadOnline: Oil prices rose on Monday, lifted by the first fall in U.S. drilling activity in months, although gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.
EghtesadOnline: The bear market in crude in many ways resembles its more severe predecessors from 2014 and 2016: oil prices plummeting, non-U.S. producers floundering to keep supply at bay and concerns swirling around the impact of energy companies on high-yield bonds.
EghtesadOnline: Oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices.
EghtesadOnline: Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market.
EghtesadOnline: Oil fell for a third week as rising supplies from the U.S. to Nigeria to Libya showed that OPEC is still struggling to clear a global glut.
EghtesadOnline: Oil dropped to the lowest level in more than three weeks as the market refocused on glut concerns after a diplomatic clash involving Saudi Arabia and Qatar was seen as having a limited impact on supply.