(Oil & Gas 360) – Over the past few decades, the Assad dictatorship in Syria, supported by Iran and Russia, played a pivotal role in Middle Eastern instability. Syria was the channel by which Russia established a naval base on the Mediterranean and extended its influence to the heart of the Middle East and supported its military in sub-Saharan Africa.
(Oil & Gas 360) – What will happen to Syria now that the Assad family’s brutal dictatorship is over is a big question in the foreign policy establishment. A bigger question is: What is Syria? The boundaries of Syria, Iraq, Jordan, and other parts of the Middle East were established after World War I by the British and French colonial powers
Investing – HOUSTON- Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010. Brent crude futures were up $1.34, or 1.9%, to $72.46 per barrel at 11:25 a.m. ET (1625 GMT). U.S. West Texas
Reuters BEIRUT – Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions. State news agency SANA said the deals cover exploration and production in three blocs, including an oilfield in northeast Syria and a gas field north of the capital
U.S. Secretary of State Mike Pompeo called on the European Union Wednesday to condemn Iran for delivering some 2.1 million barrels of crude oil to Syria after reassuring Britain it would not do so. The Adrian Darya 1, formerly known as Grace 1, was captured by British forces off Gibraltar in July on suspicion that it was en route to
From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From The Houston Chronicle An Iranian supertanker with $130 million worth of light crude oil that the U.S. suspects is tied to a sanctioned organization left Gibraltar and was heading east into the Mediterranean Sea on Monday, with its next destination reported to be Greece. The Iran-flagged Adrian Darya 1, previously named Grace 1, set course for Kalamata, Greece, with
From CNBC An Iranian oil tanker held in Gibraltar since early July has been officially released by local authorities, although it may not sail if a U.S. application to seize the vessel proves successful. On July 4, Gibraltar authorities with the help of the British Royal Marines, seized the Grace 1 oil tanker following suspicions it was delivering oil to
From Reuters The Panama Canal will continue authorizing vessels coming from Venezuela provided they present the necessary paperwork, the waterway’s chief said on Wednesday, suggesting a new round of U.S. sanctions on the South American nation should not make a difference to canal traffic. President Donald Trump’s administration last week issued an executive order freezing all Venezuelan government assets in
From The Houston Chronicle Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about the safety of shipping routes in the Middle East. “Official and unofficial documents have been exchanged to resolve the matter
From Reuters China imported Iranian crude oil in July for the second month since a U.S. sanctions waiver ended, according to research from three data firms, with one estimate showing some oil entered tanks holding the country’s strategic reserves. According to the firms, which track tanker movements, between 4.4 million and 11 million barrels of Iranian crude were discharged into
From Reuters Britain told Iran on Monday that if it wants to “come out of the dark” it must follow international rules and release a British-flagged oil tanker seized by its forces in the Gulf. Iranian commandos seized the Stena Impero near the Strait of Hormuz, the world’s most important waterway for oil shipments, on July 19. That was two
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
