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South Korea completely stopped importing Iranian oil in August, reacting to the demand of the US authorities to stop buying oil from Iran. The US authorities are planning to introduce the next block of sanctions against Iran on November 4, which will be aimed at restrictions in the field of hydrocarbons trade. Bloomberg agency referring to the data on the displacement of oil tankers reports that in August the supplies of Iranian oil to South Korea were completely stopped, whereas in July they were 194 thousand barrels per day. A researcher at the Korea Energy Economics Institute, Kim Jaekyung, noted that “South Korea's national security depends on a military alliance with the United States, so the country reduced imports in advance”.
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. ...
Intel Corp. (INTC.O) announced on Monday that Chief Engineering Officer Murthy Renduchintala would leave the company on August 3. The semiconductor manufacturing company said that it would reorganize its technology, systems architecture, and ...
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 ...
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