While the Trump administration has increased economic pressure on Iran to deter the country from obtaining nuclear weapons, President Trump and North Korean leader Kim Jong Un agreed to restart Continue Reading
The oil tanker is suspected of carrying crude oil to Syria An Iranian official has said a British oil tanker should be seized, if a detained Iranian ship is not Continue Reading
Gibraltar said on Thursday it had detained the supertanker Grace 1 on suspicion of carrying crude oil to Syria in what a legal source said may be the first such Continue Reading
As it has contemplated military action against Iran, the Trump administration has opened the door to virtually every legal authority it might use to justify an attack, from tying Iran Continue Reading
Iran will “take the next step” on Sunday and begin to enrich uranium beyond the levels specified under its 2015 accord with the United States and other global powers, President Continue Reading
The U.S. Department of State is discussing allowing China to import oil from Iran as payment for a Chinese company’s investment in an Iranian oilfield, Politico reported on Wednesday, citing Continue Reading
U.S.-Iran tensions are once again heating up, even as Iran has so far managed to stabilize oil exports at lower levels. Iran has officially breached the limits of low-enriched uranium Continue Reading
VCG via Getty Images A week ago, a small tanker ship approached the Persian Gulf after a 19-day voyage from China. The captain, as required by international rules , reported Continue Reading
Iranian Presidency Office, via Associated Press WASHINGTON — Iran has exceeded a key limitation on how much nuclear fuel it can possess under the 2015 international pact curbing its nuclear Continue Reading
Iran’s oil minister on Monday said he will veto OPEC’s long-mooted charter intended to formalize its oil market coordination with Russia and nine other non-OPEC partners, if it comes up Continue Reading
European countries offered too little at last-ditch talks on Friday to persuade Iran to back off from its plans to breach limits imposed by its nuclear agreement with world powers, Continue Reading
Highlights Crude imports from UAE, Ecuador replace supply from Iran Abu Dhabi grades more expensive than Iranian Heavy crude First intake of Cameroon’s Ebome crude, Australia’s Wheatstone condensate Singapore — Continue Reading
Facing an unexpectedly rigorous enforcement by the U.S. of its re-imposed sanctions on oil and the recent addition of partial sanctions on its petrochemicals sector, Iran is pushing for output Continue Reading
World powers will warn Iran to stick to the terms of their nuclear deal when they meet on Friday for “last chance” talks, but with Tehran feeling the pressure from Continue Reading
Iran’s main demand in talks aimed at saving its nuclear deal is to be able to sell its oil at the same levels that it did before Washington withdrew from Continue Reading
Iran could within days breach part of its 2015 nuclear deal with world powers, a move that could eventually culminate in the return of all international sanctions on the country. Continue Reading
Iran is on course to breach a threshold in its nuclear agreement within days by accumulating more enriched uranium than permitted, although it had not done so yet by a Continue Reading
Asia’s crude oil imports from Iran fell in May to the lowest in at least five years after China and India wound down purchases amid U.S. sanctions, while Japan and Continue Reading
Highlights US crude inflows recover to 8-month high Malaysia rises to 8th highest crude supplier China imported 1.08 million mt, or 255,065 b/d, of crude oil from Iran in May, Continue Reading
In a cut above the usual barb-trading between Iran and the United States, President Trump threatened to meet any attack by Iran on “anything American” with “great and overwhelming force,” Continue Reading
U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other senior Iranian officials with new U.S. sanctions on Monday, looking for a fresh blow to Iran’s economy Continue Reading
Iranian crude exports have dropped so far in June to 300,000 barrels per day (bpd) or less after the United States tightened the screw on Tehran’s main source of income, Continue Reading
Countries that get their crude oil via the shipping routes in the Middle East should protect their own ships along the lanes, U.S. President Donald Trump said on Monday, as Continue Reading
New U.S. sanctions against Iran’s supreme leader and foreign minister have closed off diplomacy, Iran said on Tuesday, blaming the United States for abandoning the only route to peace just Continue Reading
The United States has levied new sanctions on Iran today in an effort to further squeeze the regime into compliance over the controversial nuclear deal and stave off additional hostilities Continue Reading
India more than quadrupled its imports of U.S. crude oil between November last year and May this year as the U.S. sanctions on Iran significantly reduced Iranian crude purchases at Continue Reading
Mr. Trump, in an interview on NBC, said: “We’ve done very massive sanctions. We’re increasing the sanctions now.” Mr. Trump and his aides have indicated they are prepared to wait Continue Reading
The US will announce Monday “major” additional sanctions on Iran, President Donald Trump said Sunday, days after the US said Iran shot down an unarmed drone over the Gulf of Continue Reading
Russia is ready to help Iran with oil exports and its banking sector if the Instex European payment system is not launched, Interfax news agency cited Russian Deputy Foreign Minister Continue Reading
U.S. President Donald Trump said on Friday he aborted a military strike on Iran because he said it could have killed 150 people, a disproportionate response to Tehran’s downing of Continue Reading
Crude and condensate in long-term floating storage hit its highest since August 2017 in May at 24 million barrels, as U.S. sanctions against Venezuela and Iran hindered the ability of Continue Reading
US Secretary of State Mike Pompeo will travel to India next week, but will offer no relief from oil sanctions to what was a top Iranian export market just two Continue Reading
With sanctions re-imposed on Iran’s oil exports last year and recently applied in part to its petrochemicals exports as well, the U.S. is now looking to roll out the next Continue Reading
The United States sought on Wednesday to bolster its case for isolating Iran over its nuclear and regional activities by showing limpet mine fragments it said came from a damaged Continue Reading
“ Massive disruptions ” could be seen in the crude oil trade in the Middle East, particularly in the Strait of Hormuz, according to a new report from IHS Markit. Continue Reading
The Eni spokesman said the company “is not aware if, or has evidence of, a precise geographical origin different from that indicated on the documents of origin and load.” Washington Continue Reading
The volume of clean oil products flowing from the Persian Gulf into Asia could see some drops in the coming weeks as Asian traders and shipowners have become cautious about Continue Reading
Secretary of State Mike Pompeo told reporters Iran instigated attacks on two fuel tankers in the Gulf of Oman early Thursday. The attacks started fires, and crews on the vessels Continue Reading
Iran’s economy contracted by 4.9 percent in the 2018-2019 year ended in March, slipping further into recession as diminishing oil exports due to the U.S. sanctions are depriving the Islamic Continue Reading
WASHINGTON — Iran threatened on Monday to accelerate its nuclear program in violation of a 2015 nuclear agreement, moving it closer to the ability to build an atomic weapon — something Continue Reading
“Fewer owners are willing to take their vessels into the Middle East and those that do demand a premium for the service,” said Anoop Singh, a tanker analyst for Braemar Continue Reading
That doesn’t mean there won’t be a war—the chances for miscalculation are high and growing higher—but merely that war isn’t actually the outcome either side seeks. This is the high-stakes Continue Reading
Secretary of State Mike Pompeo said Sunday that more evidence will be released soon to prove the administration’s assertion that Iran was responsible for attacks on two oil tankers in Continue Reading
Iran said on Monday it would breach internationally agreed curbs on its stock of low-enriched uranium in 10 days — a move likely to strain already high tensions with Washington Continue Reading
Iran’s government has no plans to remove Oil Minister Bijan Zanganeh from his post, a government spokesman said on Sunday, according to the Iranian Students’ News Agency (ISNA). A senior Continue Reading
Iran had given European countries until July 7 to show that they could help cushion Iran’s economy from the impact of U.S. sanctions. Iran’s announcement Monday came days after two Continue Reading
Despite attacks on shipping in the Gulf and the continued instability across the Middle East, the oil market has settled into a new normal. Even after last week’s attack on Continue Reading
The second apparent attack on oil tankers in the Middle East in a month rekindled tensions in the region and had the oil market forget, at least for a day, Continue Reading
Risk levels associated with shipping crude oil and LNG via the Strait of Hormuz, the Middle East’s key shipping artery, have escalated sharply, inflating tanker costs in the region. US Continue Reading
The United States on Friday blamed Iran for attacks on two oil tankers at the entrance to the Gulf and said it was seeking international consensus about the threat to Continue Reading
