2 weeks ago - The parallels between the onset of the current events in the Middle East and those that preceded the 1973 Oil Crisis are uncanny

Despite potential oil market competition, Iranian firms are planning to revamp Venezuela’s largest oil refinery, Reuters said Monday in an exclusive report.

May 9, 2023 - During the night of 6th December 1985 very large crude carrier (VLCC) NOVA, carrying 188,000 tonnes of Iranian Light crude oil, collided with ultra large cru...

2 weeks ago - By purchasing a majority of the ... After 1935 the APOC was called the Anglo-Iranian Oil Company (AIOC). A 60-year agreement signed in 1933 established a flat payment to Iran of four British pounds for every ton of crude oil exported and denied Iran any right to control ...

March 16, 2022 - SINGAPORE, March 16 (Reuters) - ... of its Iranian Light grade for its Asian buyers at $4.70 a barrel above the Oman/Dubai average for April, up $2.05 from the previous month, two industry sources with direct knowledge of the matter said on Wednesday. The table below shows April crude prices to ...

December 11, 2023 - So far, only one deal for Venezuelan crude to China in January has been spotted, two Chinese market sources said, at a discount of $11 a barrel against ICE Brent on a delivered basis. That compares with discounts as deep as $14 a month earlier and around $20 when the U.S. sanctions were in place. Venezuela ships mostly heavy sour grades to China, including Merey and Boscan. These were on average more than $7 a barrel cheaper than medium-sour Iranian Light ...

In this paper, it is investigated the crude oil price deviation from its long-term direction with regard to the relationship between mentioned markets in short-term. For this purpose, Fisher price jump model and Frankel theory will be used for test by using daily time series data of 2005-13 about Iran's light ...

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3 weeks ago - The impact on the oil market would be significant if Israel struck Kharg Island, through which 90% of Iran's crude exports pass, Croft said. "We do really have to see what the Israelis hit, what would the Iranian response mechanism be" Croft told CNBC's "Worldwide Exchange" on Monday.

4 weeks ago - Though oil prices have surged this week on geopolitical tensions, they have risen from a low baseline.

1 month ago - U.S. crude oil futures prices initially jumped more than 5 percent Tuesday morning when warnings about the pending Iranian missile strike filtered into the market — but prices quickly pared those gains after the attack, which saw most of the missiles destroyed before hitting their targets.

July 20, 2018 - Kuwait s newly launched Super Light crude oil is increasingly finding a home in Japan and South Korea as the grade has emerged as a possible alternative grade to Iranian condensate market sources said

September 12, 2024 - High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations. Light sweet crude oil is the most sought-after version of crude oil as it contains a disproportionately large fraction that is directly processed ...

1 month ago - The oil market faces a rising risk ... and crude market analysts say. Israel could hit Iran's oil facilities in response for the Islamic Republic's ballistic missile attack. Prices could rise as a result, though OPEC has spare capacity that can cushion the market so long as the Strait of Hormuz is not disrupted. The Iranian flag above ...

It is the major export grade for Saudi Arabia and a global crude benchmark. Arab Light is mainly produced from the super giant Ghawar field, but it also contains volumes from other fields.

Iran has set the official selling price (OSP) of its Iranian Light crude oil grade for Asian buyers at $3.50 a barrel above the Oman/Dubai average for October, state owned National Iranian Oil Company (NIOC) said Thursday.

April 10, 2019 - Refiners are having to draw up ... levels Iranian exports are about 1 million barrels per day (bpd) below potential and those from Venezuela are down about 500,000 bpd. Add in output restrictions by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, and the market looks increasingly short of heavier grades in Asia. Surging U.S. shale oil production doesn’t help, as this type of crude is light and sweet, ...

2 weeks ago - Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of a supply disruption.

June 1, 2018 - Iran Crude Oil: Exports was reported at 1,322.634 Barrel/Day th in Dec 2023. This records an increase from the previous number of 900.632 Barrel/Day th for Dec 2022.

1 month ago - Earlier in the day, both crude benchmarks were up by over 5%. Alarms sounded across Israel and explosions could be heard in Jerusalem and the Jordan River valley after Israelis piled into bomb shelters. Clay Seigle, an independent political risk strategist, said in an email that Israel "will not hesitate to widen its military offensive to hit Iran directly. And Iran's oil assets are very likely on the target list." An Israeli attack on Iranian ...