EghtesadOnline: As the US ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market.
EghtesadOnline: The United States has made a major error of judgment by politicizing oil and using it as a weapon in already fragile international oil market.
EghtesadOnline: The US administration said on Monday that it will not renew waivers that let countries buy Iranian oil without facing sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
EghtesadOnline: The pact between OPEC, Russia and its allies is "here to stay," a longtime adviser at Saudi Arabia's energy ministry said, playing down concerns that the alliance could end given Russia's lukewarm comments around the ongoing market management.
EghtesadOnline: Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to US authorities to settle probes of violations of US sanctions on Iran and other countries, US authorities said on Monday.
EghtesadOnline: Venezuela is in chaos. Iran is grappling with US sanctions. And now there is a surge of violence in Libya. Trouble in these three OPEC nations has helped send US oil prices climbing back above $64 a barrel.
EghtesadPnline: Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, fighting in Libya as well as strong US jobs data.
EghtesadOnline: UniCredit SpA is nearing an agreement with US authorities over allegations that the bank provided dollar-clearing services to Iranian clients in violation of US sanctions, people with the knowledge of the matter said.
EghtesadOnline: Renewable energy demand and capacity are growing explosively.
EghtesadOnline: Japan's Tokyo Gas said on Friday it has signed a heads of agreement with Royal Dutch Shell for 500,000 tons per year of liquefied natural gas, with the purchase based partly on a coal-linked pricing formula.