Fire at oil pipeline in southwest Iran under control

Fire at oil pipeline in southwest Iran under control

A fire broke out at an oil pipeline in southwest Iran after an accident on Monday and is under control, the Tasnim news agency reported. The fire started when a construction loader vehicle collided with a pipeline during an attempt to repair a section

How Trump’s hawkish advisors won debate on Iran oil sanctions

How Trump’s hawkish advisors won debate on Iran oil sanctions

U.S. President Donald Trump’s unexpected decision to ban all Iranian oil purchases after May 1 – ending exemptions for eight nations – came after hawkish economic and security advisors allayed the president’s fears of an oil price hike, according to three sources familiar with the internal debate.

Oil prices hit five-month highs on OPEC supply cuts, U.S. sanctions

Oil prices hit five-month highs on OPEC supply cuts, U.S. sanctions

Oil prices rose to their highest levels since Nov. 2018 on Monday, driven up by OPEC’s ongoing supply cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were at $70.67 per barrel at 0022 GMT on Monday, up 33 cents, or 0.5 percent from their last close.

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