Iran News Updates

Brent crude, the international standard, was up 0.7% at $96.47 a barrel on Nov. 13. It was trading near $72 per barrel in late February before the Iran war began.

Despite efforts to find a buyer, none has so far emerged publicly, and oil traders and analysts are growing increasingly skeptical that any of the four vessels Russia says are carrying diesel will unload in the U.S. 

Brent crude, the international standard, rose 0.6% to $93.34 a barrel. Prices had eased earlier on signs of resurgent oil supplies from Saudi Arabia.

The EIA increased its projected retail price of diesel next year to $5.03 a gallon, up from $4.49 a gallon, and gasoline to an average of $3.73 a gallon, up from $3.56 a gallon.

Brent crude, the international standard, fell 3.1% to $89.67 a barrel, the lowest level in three months. 

Gasoline remains about 19% above its seasonal average after Middle East conflict and other supply disruptions tightened global fuel markets.

Brent crude oil, the international standard, dropped 5.5% to $92.96 per barrel. Yet hostilities continue in the Middle East.

It’s unclear if there is political will to pass a federal gas tax suspension in the lame-duck session of Congress starting Nov. 9 or in the next Congress.

Brent crude, the international standard, fell 1% to $97.34 per barrel. Uncertainty still reigns about when the global energy industry can return to normal.

The tax suspensions temporarily waive or nearly eliminate state levies that normally add as much as 47 cents per gallon to diesel prices.