Post Tagged with: "Iran"

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel

Source: Reuters

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

Reuters


Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according …

Source: Reuters

Hit by coronavirus and Trump, Iran’s oil exports dwindle to record low

Reuters


LONDON  – Iran’s oil exports have sunk to a record low as the coronavirus crisis compounds the impact of U.S. sanctions already limiting shipments, underlining the diminishing oil clout of what was OPEC’s second-largest producer.

Exports averaged 70,000 barrels …

Source: CNBC

How the oil price capitulation will hit Nigeria, Saudi Arabia and other major exporters

CNBC


The historic plunge in oil prices earlier this week has left some major exporters of the commodity scrambling to shore up their economies.

The U.S. West Texas Intermediate (WTI) crude contract for May delivery fell by more than 100% …

Source: Reuters

Iran oil projects reined in because of lack of funds: minister

Reuters


DUBAI (Reuters) – Iran has had to reduce oil production projects because of a lack of funds and a drop in income from oil exports, Oil Minister Bijan Zanganeh said on Tuesday, according to the official IRNA news agency.…

February 18, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Houston Chronicle

Gasoline price fears stoked by Iran may still roil election

Houston Chronicle


Donald Trump’s decision to authorize the killing of an Iranian general and reignite Middle East tensions briefly roiled energy markets and underscored a U.S. political reality: Higher gasoline prices can tip elections.

The president, who is counting on …

January 10, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, Fracing
Source: CNBC

Biggest ‘black swan’ event for oil markets is disruption in the Strait of Hormuz, expert says

CNBC


The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts.

“The market is extremely exposed to any disruption to vessel …

Source: CNBC

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

CNBC


Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.

Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants …

Source: Reuters

Oil prices fall as alarm over Iran rocket strike fades

Reuters


LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows.…

January 8, 2020 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil tops $70 as Iran, Trump trade threats

Reuters


LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike

Brent crude futures LCOc1 …

Source: Houston Chronicle

Oil soars as U.S. killing of Iran general stirs fear of conflict

Houston Chronicle


Oil jumped toward $70 a barrel in London after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.

 

Brent futures …

Source: Reuters

Exclusive: U.S. probe of Saudi oil attack shows it came from north – report

Reuters


WASHINGTON – The United States said new evidence and analysis of weapons debris recovered from an attack on Saudi oil facilities on Sept. 14 indicates the strike likely came from the north, reinforcing its earlier assessment that Iran was …

December 19, 2019 - 3:00 pm Closing Bell Story‎, Energy News, International
Source: apnews.com

Syria hands oil exploration contracts to two Russian firms

Reuters


BEIRUT – Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions.

State news agency SANA said the deals cover …

An oil tanker anchored near Marseille, France, in 2017. An array of factors are coming together to support high tanker earnings. Photo: jean-paul pelissier/Reuters

Crude Exporters Brace for Sustained High Shipping Costs

Wall Street Journal


The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high

Crude oil exporters and users probably should get used to high shipping costs.

The freight-rate roller coaster …

FILE PHOTO: Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia, September 20, 2019. REUTERS/Hamad l Mohammed/File Photo

Exclusive: U.S. carried out secret cyber strike on Iran in wake of Saudi oil attack: officials

Source: Reuters


The United States carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities, which Washington and Riyadh blame on Tehran, two U.S. officials have told Reuters.

The …

October 16, 2019 - 9:55 am Closing Bell Story‎, Energy News, International
Iran claims $40B natural gas discovery

Iran claims $40B natural gas discovery

Iran says it discovered natural gas deposit worth $40B

Iran announced that it has discovered a natural gas field with about $40 billion of condensed gas.

The National Iranian Oil Company said Sunday that the newly found deposit holds about …

October 14, 2019 - 9:10 am Closing Bell Story‎, Crude Oil News, International
U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

Source: Reuters


MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.

The move has taken roughly …

Source: Reuters

Iranian oil tanker hit off Saudi coast, may have been missiles: Iran reports

Source: Reuters


An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers …

October 11, 2019 - 8:30 am Closing Bell Story‎, Energy News, International
Pompeo: Iran lied to Britain, sold oil to Syria

Pompeo: Iran lied to Britain, sold oil to Syria

U.S. Secretary of State Mike Pompeo called on the European Union Wednesday to condemn Iran for delivering some 2.1 million barrels of crude oil to Syria after reassuring Britain it would not do so.

The Adrian Darya 1, formerly known …

October 10, 2019 - 9:17 am Closing Bell Story‎, International, Politics & Opinions
Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

Iranian Tanker Sought by US Heading Toward Greece

Iranian Tanker Sought by US Heading Toward Greece

From The Houston Chronicle


An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next …

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

Gibraltar Releases Captured Iranian Oil Tanker, US Makes Immediate Request to Seize Vessel

From CNBC


An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful.

On July 4, Gibraltar authorities with …

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

Panama Canal Will Not Block Venezuela Vessels Despite U.S. Sanctions

From Reuters


The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a …

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

China Continued Iran Oil Imports in July in Teeth of U.S. Sanctions: Analysts

From Reuters


China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves.

According …

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …