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India urges Iran-Israel de-escalation, calls for diplomacy and civilian protection
India’s Ministry of External Affairs said renewed hostilities in West Asia, including between Iran and Israel, have raised international concern. India called on all parties to de-escalate immediately, protect civilians, and return to diplomatic engagement. The statement cited continuing humanitarian and economic costs linked to the conflict.
Energy & Commodities · 3 hours agoUAE tenders at least 14 million barrels of Upper Zakum, Umm Lulu and Das for upcoming loadings
At least 14 million barrels of United Arab Emirates crude grades, including Upper Zakum, Umm Lulu and Das, were sold via a tender for loading over the coming months. Separately, seven participating countries agreed to a production adjustment of 188,000 barrels per day, according to an OPEC statement.
Energy & Commodities · 4 hours agoBrent nears $97 and WTI tops $94 as Israel-Iran fighting and Lebanon strikes lift crude
Crude prices climbed more than 4% on June 8 as conflict escalated between Israel and Iran and Israel carried out strikes in Lebanon. Brent rose about $4 to around $97 a barrel and WTI gained about $4 to about $94. Reports cited concerns linked to disruptions around the Strait of Hormuz.
Energy & Commodities · 4 hours agoOPEC+ to lift July oil quotas by 188,000 bpd as Hormuz disruptions curb exports
Seven OPEC+ countries agreed on June 7 to raise July production quotas by 188,000 bpd, taking the group’s July quota to 35.83 million bpd, excluding compensation for prior overproduction. The increase applies to Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, with Iraq’s quota up 26,000 bpd, amid disruptions to flows through the Strait of Hormuz.