Latest news
Iran: Gas field discovered with $40 billion worth of reserves
A new gas field with 13,000 billion cubic feet of recoverable reserve and 385 million barrels of condensate, valued at $40 billion, has been discovered in Fars province, southern Iran.
read more... 15/10/2019
Daily (14.10.2019): Brent crude climbed by over 2.4% on Friday, following an Iranian tanker explosion in the Red Sea
Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.
read more... 14/10/2019
Iran Planning to Build LNG Park with 3m-Tonne Capacity: Minister
Iranian Oil Minister Bijan Namdar Zanganeh said the country plans to construct an LNG park with an annual capacity to produce three million tons of liquefied natural gas.
read more... 07/10/2019
Daily (19.09.2019): French year-ahead power price surged by 4% on Wednesday, amid eased French nuclear reactor worries
Crude oil prices continued to fall on Wednesday, as U.S. President chose to impose substantially increased sanctions rather than military action against Iran, while expressing U.S. readiness for the second measure. Further pressure came from Saudi Arabia’s commitment to bring its oil production back to pre-attack levels by the end of September. A surprise build in the U.S. crude inventories last week put more pressure on prices. As a result, Brent crude dropped by 1.5% to 63.60 USD/bbl, while WTI futures dipped by 2.1% to 58.11 USD/bbl.
read more... 19/09/2019
Daily (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran
Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.
read more... 12/09/2019