Amid widespread concern that the revived US sanctions against Iran, which shipped out nearly three million barrels per day of crude in July, would tighten global supply, Brent crude oil futures rose 86 cents to $74.61 per barrel at 1052GMT and US West Texas Intermediate (WTI) crude futures were up 59 cents at $69.60 a barrel. -China dispute percolated. As American sanctions isolate Iran, exports by OPEC's No. 3 producer have fallen and the Islamic Republic is relying more on its own tanker fleet to deliver oil to customers, according to ship-tracking data compiled by Bloomberg.
This was the company's first mini-term tender to buy United States oil, the executive, A.K. Sharma, said.
Less than a year after first oil from the U.S. was imported into India, state-owned Indian Oil Corp (IOC) has signed up to buy crude oil from the USA through a term-tender deal, a senior company official said.
Markets were still supported by the introduction of new USA sanctions against Iran on Tuesday, which initially target Iran's purchases of US dollars - in which oil is traded - metals trading, coal, industrial software and its auto sector.
Iran's oil industry is expected to be hit in the next round of economic penalties against the country, set to take effect in November.
The Trump administration on Tuesday imposed a first round of new sanctions on Iran.
Iran's oil exports have now fallen for three successive months as the country braces itself for the re-imposition of sanctions by the US.
He noted that: "Anyone doing business with Iran will NOT be doing business with the United States". Financial markets settled down Wednesday following the previous day's big moves when an easing of concerns over an imminent US -led military strike on Syria sent stocks sharply higher and oil prices down. Saudi Arabia is also India's fourth largest trade partner after China, the USA and UAE, and bilateral trade during 2016-17 was valued at $25.079 billion, with India's exports amounting to $5.13 billion.
The FTSE's rally was also supported by a slight improvement across the USA markets as they enjoyed a brief respite from the trade tariff tit-for-tat which dominated the start of the week.
Brent calendar spreads have also been sliding since late April as traders anticipated greater availability of crude in the second half of the year.
Some analysts said that global crude supply losses could range from 600,000 to 1.5 million barrels per day due to the re-imposition of US sanctions on Iran. This represents around a third of global oil demand.
Much of the northern hemisphere has been gripped by extreme heat this summer, pushing up demand for industrial and residential cooling.
In addition to crude oil and liquified natural gas, other listed products include diesel, coal, chemicals, cars, steel products and medical equipment. "The key to future global demand growth, and therefore, the underlying commodity price, is China and so to the extent that you're seeing noise around that, you're going to get softness in the crude market".
Comcast is still locked in a bidding war with Fox for control of Sky, the United Kingdom satellite TV distributor. Now, thanks to this report, we know that from Captain Marvel on, they will be heading to Disney's own platform.
Liverpool reached the conclusion of their pre-season friendlies this evening with a home tie against the Serie A club Torino . Wijnaldum and Salah combined to set up Firmino for a shot that deflected into the top corner off Lorenzo De Silvestri .
China has already retaliated with duties of its own, and has pledged to match the U.S. dollar for dollar with new tariffs. May 19: After a meeting, the two countriesannounce the outline of a trade dealto avoid the tariffs.
Jose Mourinho wants Pogba back at Old Trafford and is hopeful he can replicate his form on the global stage for United. They included Yerry Mina and Andre Gomes in the deal, bringing his valuation to over £100m.
The couple have been ordered to pay the boy 30,000 euros ($35,000) in compensation, and 12,500 euros ($14,500) to the girl. Police exposed the paedophile ring after they received an anonymous tip-off from a member of the public.
His wife, Diana Campbell, told PIX 11 , "You could see its little legs just floating and his head was in the water". The Campbell family left around 6 p.m., with Monte Campbell calling the experience "very emotional".
The former president celebrates turning 57 today , August 4, and Michelle posted a heartfelt message on social media in his honor. Former Vice President Joe Biden gave a birthday shoutout to his "brother", and included a picture of the two at lunch last week.
Meteorologist Melissa Dye says the southern half of the island should brace for winds of 35 miles per hour (56.3 kph) or higher. Hawaii's Big Island is preparing for a possible hurricane - while a volcano continues to erupt on its shore.
Tuesday's sanctions target Iran's purchases of US dollars, metals trading, coal, industrial software and the auto sector. That's because the EU is trying to protect European businesses that are trading in Iran from facing USA sanctions .
Watch Today's Super Smash Bros. Ultimate Direct Here!
There are actually only two *brand* new pugilists, plus three extra "Echo" fighters - altered clones of existing characters. In a Super Smash Bros . first, the Stage Morph option will let players seamlessly transition between two different stages .
Dallas resident is county's first West Nile death of 2018
In a small number of cases, especially among those with pre-existing medical risk factors, West Nile can be life threatening. The health district said mosquito testing, which began in June is expected to continue through the late fall.
Tesla board says Musk started going-private talks last week
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NASA set to announce astronauts for SpaceX, Boeing missions
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GOP congressman busted for insider trading
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Ruby Rose Lands Role As Lesbian Superhero Batwoman!
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Democrat O’Connor has lead in early OH returns
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