Oil

West Texas Intermediate futures rose one per cent to $56.32 a barrel on the New York Mercantile Exchange. Brent crude.

Five projects will share the funding as part of the Department of Energy’s strategy focused on increasing recovery and operational efficiency.

Crude has been weighed down by concerns that demand is slowing. but the focus is now shifting back to supply and geopolitical risks.

Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz. stoking concern crude flows from the Middle East may be disrupted.

The University of Colorado suggests pregnant women living in close proximity to gas wells and oil refineries could have up to a 70% greater chance of giving birth to babies with congenital heart defects.

A Mobile Oil Separator (MOS) has been launched in South Yaran Oilfield.

An Iranian oil tanker which was illegally held by Saudi Arabia for two months has reportedly been released. and is now on its way back home with its entire crew on board.

The CEO of Pars Oil and Gas Company (POGC) said the onshore refining unit of Phase 14 of supergiant South Pars gas field would become operational by November 2019.

Russia is now preparing to dilute the contaminated oil stuck in the pipeline with clean crude.

India imports more than 80% of its oil and around two-thirds of that comes from the Middle East.