Oil prices have taken further southward graph to below $30 a barrel amid oversupply concerns due to increased Iranian crude exports into an already flooded market. Iran is a member of Organization of the Petroleum Exporting Countries (OPEC) and international sanctions against it are now lifted. As an aftermath the […]

Crude oil futures have gained the biggest one-day rally in more than six years on Friday amid news of diminished crude supplies and recovering equity markets. This is the first weekly gains in past eleven weeks on US crude CLc1 futures, ending the losing streak since 1986. However, the commodity […]

The US oil prices continued their downward flow on Friday for the 8th consecutive week of decline following weak Chinese manufacturing data. This is the longest losing streak in past 29 years, leading to worries for global economic growth. China is the second-biggest oil user in the world and the […]

India may be given a waiver if oil is imported from United States instead of Iran, said Secretary of State Mike Pompeo, who is in Delhi with Defence Secretary Jim Mattis on a 2+2 dialogue with Indian counterparts. Washington is seeking India should unwind its trade deals with Iran as […]

Oil prices dropped Monday in early Asian trade following Iraq getting excluded itself from the production cut plan of Organization of the Petroleum Exporting Countries (OPEC). The current output in Iraq is at 4.77 million barrels a day and it has warned not to scale back. As Iraq is the […]