President Barack Obama announced new US sanctions on Tuesday against foreign banks that help Iran sell its oil, efforts that he said would increase pressure on Tehran for failing to meet its international nuclear obligations. Obama’s ...

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India's two biggest importers of crude oil from Iran will cut shipments from the Islamic republic by at least 15 percent this financial year due to US pressure, a report has said. Washington has been seeking ...

Oil was higher in Asian trade Tuesday, supported by improved sentiment on the US economy and continued concerns over tensions between Iran and the West, analysts said. Oil New York's ...

Iran's biggest Indian oil client, Mangalore Refinery and Petrochemicals Ltd (MRPL), plans to cut its annual import deal with Tehran by as much as 44 percent to 80,000 barrels per day (bpd) in 2012/13, two sources said, as western sanctions make trade more difficult....

Amid pressure from the United States, Iran has offered to export 80,000 barrels of oil per day to Pakistan on three-month deferred payments which may ease pressure on energy supplies due to the circular debt. Earlier, ...

Oil rose in Asian trade Friday on expectations the US economy saw robust growth in the final quarter of 2011, analysts said, while tensions between the West and Iran also supported prices. New York's main contract, West ...

Oil prices dipped after news that the IEA had cut its estimate for demand growth in 2012. Oil prices dipped Wednesday in light trade, reversing earlier gains as traders digested news that the International Energy Agency had cut its estimate for demand growth in 2012, traders said....

Oil was mixed in Asian trade Thursday after OPEC ministers agreed to higher crude output without setting new quota rules, analysts said. New York's main contract, light sweet crude for January delivery was four cents higher at $94.99 ...

Oil prices slid after official data showed a bigger than expected increase in energy stockpiles in the United States, indicating weak demand in the world s biggest economy and oil consumer. [caption id="attachment_15464" align="alignright" width="300" caption="Oil Prices"][/caption] New York s ...