Tuesday 5 November 2024
 
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Oil supplies

Asians scramble to find alternative oil supplies after US pullout

Asia’s petroleum refiners are scrambling to find alternative supplies as they prepare for renewed US sanctions against major oil exporter Iran amid an already tight market, reported Reuters. Iran is the third-largest oil pro

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Vitol wins Iran’s $1bn oil supplies finance deal

Netherlands-based Vitol Group, a global oil trader, has won a $1.04 billion deal with Iran to provide financing in exchange for future supplies of refined products, a report said. Vitol to lend money to the National Iranian Oil Co

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Reliance eyes long-term oil supplies from Iran

Reliance Industries, India's biggest oil refiner, said it is looking to buy more crude from Iran as the company seeks to rebuild ties to benefit from shorter shipping distances. The company had made small purchases from Iran i

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Oil hits 17-month low over ample supply

Brent crude oil prices fell to a 17-month low below $100 per barrel in volatile trade on Tuesday, a fourth straight daily decline as ample supplies weighed, while US crude rose on the expectation of dwindling fuel stockpiles. Bren

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Brent edges up to $102, but still near 14-month low

Brent crude edged up towards $102 a barrel on Tuesday, but stayed near a 14-month low reached in the previous session on weak demand and easing concerns over risks to supply. Brent shed nearly $2 on Monday, as investor worries ove

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EU ‘undeterred by Iran threat on oil cut’

The European Union trade commissioner brushed off on Thursday the potential impact of any Iranian suspension of oil supplies saying such a threat would not sway Europe from its opposition to Iran acquiring nuclear weapons. Iran's English

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Brent rises above $110 after record rout

Brent crude rose above $110 a barrel on Monday on a weaker dollar and concerns over global oil supplies, after losing $16 last week in its biggest ever decline in dollar terms. After the massive losses for oil on Thursday, banks Goldman Sa

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