Iran Says Draft US Deal Includes Oil Sanctions Waiver, Nuclear Limits and Asset Release

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Reuters A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and U.S. waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two …

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Oil Falls to Lowest Since March on Expected Peace Deal

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Summary Brent hits lowest level since early March, WTI at lowest since April Analysts say upside risks remain, seasonal demand could lift prices OPEC lowers 2026 oil demand growth forecast to 970,000 barrels per day, raises 2027 forecast HOUSTON, June 12 (Reuters) – Brent crude prices fell to their lowest levels since early March as …

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US LNG Exporters Find Few Takers in Europe for New Supply

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By Priscila Azevedo Rocha and Ruth Liao US liquefied natural gas developers expected Europe to become the cornerstone market for the next generation of export projects. Instead, the region is increasingly shying away from the long-term contracts needed to get them built. US executives are coming back empty-handed this year from the industry meetings and …

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Britain Says Full Import Ban on Russian Diesel, Jet Fuel Will Happen by 2027

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LONDON, June 12 (Reuters) – Britain on Friday said that a full ban on ​diesel and jet fuel made ‌in Russia would happen by 2027 as it set out its timeline ​to end a temporary licence ​for Russian oil products. Britain last ⁠month said it would continue to ​allow imports of diesel and ​jet fuel …

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Shell Pauses $3 Billion Share Buyback Ahead of ARC Acquisition Vote

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By Stephanie Kelly Buyback pause linked to pending ARC Resources acquisition and shareholder vote Unpurchased shares will be rolled into 2026 buybacks, pending board approval ARC deal is Shell’s largest since ​2016 LONDON, June 12 (Reuters) – Shell (SHEL.L) said ‌on Friday it was pausing its $3 billion share buyback programme through July 14, citing …

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US Refiners Can Still Absorb More Venezuelan Crude, Energy Secretary Wright Says

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(Reuters) – U.S. refiners can still absorb more Venezuelan crude, Energy Secretary Chris Wright said Friday at an event at Port Houston. Venezuela is sending about half of its total exports of 1.2 million barrels a day to the U.S., Wright said, adding that that percentage could increase in the coming months. Iran is not …

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US Energy Firms Cut Rigs for First Time in Eight Weeks, Baker Hughes Says

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(Reuters) – U.S. energy firms cut the number of rigs operating for the first time in eight weeks, energy services firm Baker Hughes said in a closely followed report on Friday. The total oil and gas rig count, an early indicator of future output, fell by 1 to 562 in the week to June 12. …

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Tired of Chaos, Investors Retreat From Oil Market at Record Pace

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(Reuters) – The extreme volatility of global oil prices has drained liquidity from the market this year at the fastest pace on record, as investors have become increasingly wary of committing cash to an asset that has become hostage to U.S. President Donald Trump’s daily social media posts on the Iran war. Liquidity, or how …

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Lost Gulf Oil Exports Far Smaller Than Thought, Traders and Shippers Say

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(Reuters) – Since the start of the Iran war and Tehran’s announcement that the Strait of Hormuz was “closed”, the market has grappled to put a figure on lost crude supply and to predict the price of oil. Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 …

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