Gold hits 1-month peak fuelled by Fed’s new stimulus measures

Gold prices surged over 2% to their highest in a month on Thursday after the U.S. Federal Reserve announced a massive stimulus to combat the economic toll of the coronavirus pandemic.

Oil prices rise on optimism OPEC+ meeting will result in supply cut

Brent crude futures rose 1.2%, or 41 cents, to $33.25 a barrel as of 0529 GMT. The contract rose to an intra-day high of $33.90, climbing for a second day. U.S. West Texas Intermediate (WTI) crude futures were up 3.3%, or 82 cents, at $25.91 a barrel, after earlier climbing by as much as 6.1%.

Stock markets plunge as virus becomes a pandemic

Share markets in the US plummeted on Wednesday, with losses accelerating after the World Health Organization declared the coronavirus outbreak a pandemic.

Oil prices jump 8% on stimulus hopes, spending cuts by US producers

Brent hit a session high of $38.22 a barrel, and US crude hit $34.60

Citing past success, Mexico seeks to mediate Russia, Saudi Arabia oil row

Mexico and other nations are seeking to mediate between Russia and Saudi Arabia to end a price war that has battered world markets, Mexico’s finance minister said on Tuesday, citing his country’s prior experience in calming a crude producer feud.

U.S. oil and gas lease sale in Utah draws few bidders

A U.S. Bureau of Land Management auction of 25 oil and gas leases in Northeast Utah received mostly minimum bids of just $2 an acre a day after oil prices collapsed due to the impact of the spreading coronavirus outbreak.

Offering state-owned shares to be expedited

Iranian Finance and Economic Affairs Minister Farhad Dejpasand said offering the shares of state-owned companies, which are planned to be privatized, will be sped up, IRIB reported.

Over $210b worth of energy project underway across Iran

Iranian Energy Minister Reza Ardakanian says 5,931 energy projects worth 8.84 quadrillion rials (about $210.4 billion) are underway across the country, IRNA reported on Wednesday.

Oil ministry explores necessary measures for battling Covid-19

Necessary measures for containing the coronavirus (Covid-19) in the Iranian oil industry’s operational areas were explored in a meeting on Tuesday, attended by the Oil Minister Bijan Namdar Zanganeh and the Head of National Iranian Oil Company (NIOC) Masoud Karbasian.

Saudis’ price war or a Russian plot against U.S. shale?!

Since early Monday, the announcement of a “price war” between Saudi Arabia and Russia, two biggest OPEC+ allies, hit the headlines of almost all of the world’s news agencies and outlets and released a wave of panic across the markets all around the world.

Iran-EAEU trade exceeds $1.2b in 11 months

The value of trade between Iran and Eurasian Economic Union (EAEU)’s member states reached $1.244 billion during the first eleven months of the current Iranian calendar year (March 21, 2019-February 19, 2020), according to the spokesman of Islamic Republic of Iran Customs Administration (IRICA).

Iran’s oil rig operations ongoing despite coronavirus outbreak

Head of National Iranian Drilling Company (NIDC) says despite the coronavirus outbreak, all operations in the country’s oil and gas rigs are ongoing in full compliance with safety and healthcare standards, Shana reported.

Larijani urges int’l community collective action to remove anti-Iran sanctions

Iranian Parliament Speaker Ali Larijani in separate letters to Inter-Parliamentary Union and his counterparts called for international community’s collective action to remove all sanctions namely US’ medical sanctions against Iranians.

Iran speaker calls for regional cooperation to stem coronavirus

Iran’s Parliament Speaker Ali Larijani in separate telephone conversations with Kuwaiti and Omani counterparts on Tuesday called for regional cooperation to counter the new coronavirus outbreak.

Iran to Issue $3b of Islamic Bonds for Oil Projects

The Iranian parliament approved of a motion which allows the Ministry of Petroleum to issue 3 billion dollars worth of Islamic bonds (Sukuk) undersigned by the council of ministers.

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