CRUDE OIL
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POLITICS
Second supertanker explodes after striking naval mine in Hormuz: IRGC Navy
The IRGC Navy says a second supertanker caught fire after hitting a naval mine while attempting to illegally cross the Strait of Hormuz.
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POLITICS
Iran rejects reports about incident for oil shipment near Singapore
The Iranian Oil Ministry has dismissed Western media reports about a maritime incident for an Iran-owned crude oil shipment near Singapore.
INDIA
India says growing trade with Russia not ‘temporary phenomenon’
India’s Foreign Minister S. Jaishankar says the country’s growing trade with Russia should not be perceived as a “temporary phenomenon”.
DEFENSE
Minister: Iran can retaliate against US theft of its oil on ‘larger scale’
Iran’s defense minister has rebuked the US government’s seizure of one million barrels of Iranian crude.
ENERGY
Iran’s oil prices rose by $6 per barrel in August: OPEC data
OPEC figures show Iran’s oil prices were higher than average OPEC and Brent prices in August.
ENERGY
Iraq to pay for Iranian gas with crude oil: PM
Iraq’s Sudani says he has reached a deal with Iran to settle gas debts to the country with crude oil.
POLITICS
Raeisi: Development of Abadan oil refinery symbol of ‘we can’ despite sanctions
Iranian President Ebrahim Raeisi inaugurates the first phase of the second development plan of Abadan oil refinery in southwestern Iran near the coast of the Persian Gulf.
BUSINESS
Russian crude oil heads to UAE as sanctions divert flows
Tanker tracking data show US sanctions have caused a spike in Russian oil supplies to the UAE.
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