Houston, Sept 10, 2025 – Oil prices rose about $1 on Wednesday after Israel attacked Hamas leadership in Qatar, Poland shot down drones in its airspace and the U.S. made a push for new sanctions on buyers of Russian oil, although concerns about excess crude supply capped gains. Brent crude futures were up 99 cents, or 1.87%, at $67.37 a barrel, at 11:28 a.m ET (1528 GMT), and U.S. West Texas Intermediate crude futures rose 98 cents, or 1.5%, to $63.60 a barrel. Prices had settled 0.6% higher …
Indian Oil skips US crude, buys Nigerian, Mideast oil via tender
Singapore, Sept 5, 2025 – Top Indian refiner Indian Oil Corp skipped the purchase of U.S. oil in its latest tender and instead bought two million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday. The state refiner also bought one million barrels each of Nigerian oil grades Agbami and Usan from French oil major TotalEnergy, and another million barrels of Abu Dhabi’s Das crude from Shell, the people said. Nigerian oil has been bought on free-on-board basis and Das has been purchsed …
Oil prices drop as OPEC+ weighs another output hike
London, Sept 3, 2025 – Oil prices fell by about 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October. Brent crude fell $1.16, or 1.7%, to $67.98 a barrel by 1030 GMT. U.S. West Texas Intermediate crude fell $1.28, or 2%, to $64.31 a barrel. Eight members of the Organization of the Petroleum Exporting Countries and allies (OPEC+) will consider further raising oil production at a meeting on Sunday, two sources familiar with the discussions told Reuters, …
NNPCL, TotalEnergies, Sapetro execute landmark PSC for deepwater blocks
…As partners commit to boosting reserves, local content Abuja, Sept. 2, 2025 – The Nigerian National Petroleum Company (NNPC) Ltd, in partnership with the TotalEnergies–Sapetro Consortium, has executed a Production Sharing Contract (PSC) for Petroleum Prospecting Licences (PPLs) 2000 and 2001. The contract marks a significant milestone in Nigeria’s upstream oil and gas sector as the first of such PSC to comprehensively cover both crude oil and natural gas exploration and production. The event, which took place at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Headquarters in Abuja on Monday, …
Oil weakens as Putin, Modi huddle in China after US tariff
London, Sept. 1, 2025- Oil declined following a monthly drop in August, with traders focused on concerns over a potential glut and signals over Russian supply. Brent fell toward $67 a barrel, while West Texas Intermediate was below $64. With Washington seeking to force India to halt imports of Russian oil by ratcheting up secondary tariffs, Indian Prime Minister Narendra Modi met with Vladimir Putin at a regional summit in China. In social-media comments, Modi said it was “always a delight” to meet with the Russian president. Heading into the …
Oil ticks lower as end of driving season looms, Druzhba restarts
London, Aug 28, 2025 – Oil prices edged lower on Thursday, pressured by expectations of lower U.S. fuel demand at the end of the summer travel season and by the restart of Russian oil supplies to Hungary and Slovakia through the Druzhba pipeline. Brent crude futures fell 46 cents, or 0.7%, to $67.59 by 12:04 p.m. ET (1604 GMT). U.S. West Texas Intermediate (WTI) crude futures were down 57 cents, or 0.9%, at $63.58 a barrel. The upcoming U.S. Labor Day long weekend ends the summer driving season. The outlook …
Oil steadies as investors eye Ukraine war, US inventories
London, Aug 27, 2025 – Oil prices steadied on Wednesday, after falling in the previous session, as investors watched for fresh developments in the Ukraine war and weighed an industry report that showed a drop in U.S. crude inventories. U.S. special envoy Steve Witkoff said on Tuesday he will meet Ukrainian representative in New York this week, adding that Washington is also in talks with Russia as it seeks to end the war. Brent crude futures were down 4 cents at $67.18 a barrel as of 0820 GMT, while West Texas Intermediate …
Oil prices set for weekly gain as Ukraine peace process stalls
Houston, Aug 22, 2025 – Oil prices edged up on Friday as hopes of an imminent peace deal between Russia and Ukraine faded, putting prices on track for their first weekly gain in three weeks. Brent crude futures were up 18 cents at $67.85 a barrel by 10:31 a.m. EDT (1431 GMT). West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.39%, to $63.77. Both contracts gained more than 1% in the previous session. Brent has risen 3.04% so far this week while WTI is up 1.5%. Advertisement · …
PENGASSAN calls for reforms in refineries, warns against political interference in oil sector
Abuja, Aug. 21, 2025 – The Petroleum and Natural Gas Senior Staff Association of Nigeria has called for urgent reforms in the country’s refineries and warned against political interference in the oil and gas sector. Festus Osifo, the President of PENGASSAN, said this on Thursday in Abuja at the ongoing 4th PENGASSAN and Labour Summit 2025 with the theme “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment and Incremental Production.” Osifo said that Nigeria’s refineries should operate under a model similar to the Nigeria Liquefied …
Oil stable ahead of Trump-Putin Alaska meet
London, Aug. 14, 2025 – Oil prices were stable on Thursday as investors weighed the potential impact of Friday’s U.S.-Russia summit on Ukraine on Russian crude flows, after U.S. President Donald Trump warned of “severe consequences” for Russia if it does not agree to peace. Brent crude futures were up 35 cents, or 0.53%, at $65.98 a barrel by 0957 GMT, while U.S. West Texas Intermediate crude futures were 35 cents, or 0.56%, higher at $63.00. Both contracts hit their lowest in two months on Wednesday after bearish supply guidance …