India's Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia's largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed.
Oil and natural gas prices dropped less than 1%, signaling a possible continuation of the downtrend as market uncertainties persist.
Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.
Russia's Lukoil last week restarted a key production unit at its Volgograd refinery, the largest in southern Russia, which was shut earlier this month after being damaged in a drone attack, two industry sources told Reuters on Monday.
President Vladimir Putin said on Monday that Russian gas output rose by 8% in the first four months of the year to 246.4 bcm.
Iranian President Ebrahim Raisi died in a helicopter crash Sunday. It wasn't enough to trigger a regional crisis, Barron's ideas editor writes.
Ebrahim Raisi, president of OPEC's third-largest producer, died in a helicopter accident.
Global energy executives wrestling with how much of President Biden's energy policy is durable against a possible second Trump term, are divided on whether they should pursue long-term clean energy projects using lucrative new tax incentives six months before election day.
Crude oil prices may rise further over the near-term as traders await clarity on OPEC+ output policy decisions at the upcoming June 1 meeting.
Oil prices climbed Monday after Iran's President Ebrahim Raisi died in a helicopter crash Sunday, according to state-run Press TV. But the move was fairly muted in early trading.
The recent helicopter crash involving Iran's President has driven oil prices up, with Brent crude holding above $80 amidst geopolitical tensions.
China's imports of fuel oil rose 10% in April from a year earlier to 2.93 million metric tons, data from the General Administration of Customs showed on Monday, which is the highest level since at least 2020 according to Reuters' records.