Reuters reported that the Syrian opposition will be unable to sell crude oil for at least a month because it lacks real executive power even as the European Union governments have eased sanctions on Syria to help them.
Reuters reported that Italy, Albania and Greece signed an agreement in favor of building the Trans-Adriatic Pipeline (TAP), which will deliver gas from Azerbaijan to the European Union. It is hoped that the pipeline will reduce Europe's dependence on Russia for energy.
The Wall Street Journal reported that Iran's oil exports fell almost 45 percent in July, in part due to US sanctions and a European Union embargo on the country's oil, both of which are aimed at encouraging Iran to compromise about its nuclear program.
A brief overview of oil price developments, supply and demand, and significant market movers.
In an attempt to defy western sanctions, Iran has begun to expand its crude tanker fleet while simultaneously going to extraordinary lengths to conceal its crude customer base.
A brief overview of oil price developments, supply and demand, and significant market movers.
Rumors and Iranian nuclear programs are proving to be major challenges to a crude market already struggling to gain stability.
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