EghtesadOnline: National Iranian Oil Company announced that it will launch crude oil futures by the last week of October, with one million barrels of crude oil to be offered on Iran Energy Exchange international platform.
EghtesadOnline: Iran Energy Exchange will launch crude oil futures from next week as part of a plan to facilitate oil exports as US sanctions targeting its energy sector in November draw nearer.
EghtesadOnline: U.S. oil futures sank to six-week lows on Monday on expectations that major producers may raise output, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit.
EghtesadOnline: Oil futures in New York zeroed in on $70 a barrel as traders brace for a re-imposition of U.S. sanctions on Iran.
EghtesadOnline: Oil futures dipped on Monday as a higher U.S. rig count indicated rising shale output and stoked worries about global oversupply, while a stronger dollar also pressured prices.
EghtesadOnline: Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year.
EghtesadOnline: Oil futures rose on Monday, with traders citing opportunistic buying following sharp declines in the previous week that brought prices to their lowest since early August because of ongoing weak fundamentals.
EghtesadOnline: Crude prices reversed early losses on Monday as the dollar lost its momentum, but persistent concerns over a global glut despite some signs producers may try to tackle weak oil futures kept a lid on gains.
EghtesadOnline: Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices.