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Another big decline in Iran’s stock market on Sunday has highlighted the precarious state of the economy amid uncertainty over the future of nuclear talks. The Tehran stock market index dropped by about 30,000 points, bringing it close to 1.2 million points, down from more than 1.4 million in early …

First it was rental cars, then building materials. Then it was housing, food, petrol. We are experiencing price rises not seen since the 1970s, or at least since the introduction of the euro, as we used to complain. First, we tried to talk it down. It will be ‘transitory’, was …

Saudi Aramco’s earnings soared as oil prices and production climbed, allowing the company to easily cover its quarterly dividend of $18.75 billion with free cash flow. The world’s biggest crude producer’s third-quarter profit climbed to 114.1 billion riyals ($30.4 billion) from 44.2 billion riyals year ago. Free cash flow was …

European consumers’ applications for supplies of Russian gas are being fulfilled in full, Russia’s energy giant Gazprom said in a statement amid reports that pumping via the Yamal-Europe pipeline had been stopped. “Fluctuations in demand for Russian gas depends on the buyers’ existing needs,” Gazprom said. Gas pumping to Europe …

For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ alliance, warned that $100 a barrel was a distinct possibility, the alarm …

OPEC+ is ready to risk prices going higher and affecting demand rather than add more supply to curb the upward potential of benchmarks, Reuters’ John Kemp wrote in a column this week. According to Kemp, OPEC+, like US shale oil drillers, tend to put more weight on the downside risks …

On the occasion of the International Disarmament Week, Iran’s Ambassador to the United Nations Majid Takht Ravanchi said that global nuclear disarmament would be done if there was political will to do so. Iran’s biennial draft resolution entitled “Follow-up to nuclear disarmament obligations agreed to at the 1995, 2000 and …

The US Energy Information Administration (EIA) said on Sunday that Iraqi crude oil exports to the US dropped to 4.901 barrels per day (bpd) during the past week. According to a report released by the EIA, “The United States imported crude oil from Iraq at a rate of 155,000 bpd. …

Factors such as tepid OPEC+ production hikes, gas-to-oil substitution, China’s power crunch and the inability of producers outside OPEC+ to meet surging demand could well spur oil prices towards $100 per barrel (/b), a report said. Markets have pivoted from pricing demand recovery to now pricing supply scarcity, said the …

Oil prices slumped to their lowest in two weeks on Thursday after Iran said talks with world powers on its nuclear program would resume by the end of November and U.S. crude inventories rose by much more than expected. Brent crude dropped $1.07, or 1.3 per cent, to $83.51 a …