Crude oil prices could jump as high as US$250 a barrel if Iran goes through with its threat to close the Strait of Hormuz in response to U.S. pressure on oil buyers to cut their Iranian purchases to zero, RT reports, quoting analysts. The most bullish among these analysts was Artem Avinov from online broker […]

 Oil cooperation between and Russia can be boosted to some $50 billion and Moscow has expressed readiness to make this investment, said Iranian Leader’s senior adviser Ali Akbar Velayati on Thursday. He made the remarks during a live interview with Iran’s state TV on Thursday noon. Referring to his meeting with Russian President Vladimir Putin […]

 Reuters market analyst John Kemp has warned against the consequences of Iran’s oil removal from the global markets. MNA republishes the Reuters market analyst’s article published on July 9. The text of the article is as follows: The United States wants to eliminate all Iran’s crude oil exports from November, and is relying on Saudi […]

 Oil prices fell on Wednesday, with Brent dropping by more than $1, after the United States said it would consider requests for waivers from sanctions due to snap back into place on Iranian crude exports, Reuters news agency reported. Brent crude futures were down $1.10, or 1.4 percent, at $77.76 a barrel by 0112 GMT. […]

An independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports, citing an official from the refiner, Dongming Petrochemical Group. What’s more, the source said that Beijing is planning to slap tariffs on US crude oil imports and […]

 Reuters market analyst John Kemp has warned against the consequences of Iran’s oil removal from the global markets. MNA republishes the Reuters market analyst’s article published on July 9. The text of the article is as follows: The United States wants to eliminate all Iran’s crude oil exports from November, and is relying on Saudi Arabia […]

Oil will soon cost $100 per barrel due to supply disruptions caused by US President Donald Trump, Iran’s OPEC Governor told Reuters on Thursday, warning that expectations that Saudi Arabia and Russia would help bring down prices were in vain. Iranian OPEC Governor Hossein Kazempour Ardebili told Reuters that Trump “should have expected” when blocking […]

China’s Foreign Ministry Spokesman Lu Kang has said that China has no plans to cooperate with the US President Trump’s call to end Iran oil exports. “China is always opposed to unilateral sanctions and long-arm jurisdiction,” Foreign Ministry Spokesman Lu Kang was cited by US Washington Examiner as telling reporters when asked if China would […]

 Naser Behzad, the Commercial Attaché at the Iranian Embassy in Baghdad, announced an increase of 13% in Iran’s non-oil exports to Iraq. Behzad said on Tuesday that the value of non-oil exports to Iraq in the first quarter of current year was also up 3 percent from the same period last year; Iran’s share of […]

The Iranian president has said that the US cannot go ahead with its plan of stemming Iran’s oil exports, calling on the American to go ahead with their plans if they can. “The Americans claim that they want to completely block Iran’s oil exports to zero but they don’t understand what they are saying because […]