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Iranian President Hassan Rouhani said on national television that Iran would not reduce the extraction and export of crude oil, despite the restoration of restrictive measures by the US. Earlier, US State Department spokesman for Iran Brian Hook said: “Our goal is to reduce the trade of Iranian oil with any countries to zero by November 14.” The US authorities did not rule out the possibility of introducing secondary sanctions against third countries for trade with Iran after the full restoration of sanctions against this country. In early August, the US restored the first block of restrictive measures against Iran. They concerned the Iranian automobile sector, trade in gold and other metals. The second block of sanctions, which enter into force on November 4, will concern the energy sector of Iran, as well as transactions related to the hydrocarbon raw materials and the Central Bank of Iran.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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