Oil topped $100 a barrel for the first time in three weeks on Tuesday as tension over Iran kept oil supply concerns in focus and investors bet on further policy action to support global economic growth.
Iran said on Tuesday it had successf
Iran on Tuesday urged the European Union to reconsider an embargo on Iranian oil that comes into effect on July 1, saying it wanted engagement and not confrontation with the bloc.
EU governments on Monday formally approved the embargo, dis
The European Union banned imports of oil from Iran on Monday and imposed a number of other economic sanctions, joining the United States in a new round of measures aimed at deflecting Tehran's nuclear development programme.
In Iran, on
Iran should halt all oil sales to the European Union immediately to disrupt EU plans for an embargo in six months' time, a senior Iranian politician said on Monday.
Ali Fallahian was responding to the European Union's decision earlier in t
World powers argued about the details of a UN resolution on Syria, with Europe and the US pushing for an arms embargo and other sanctions on Syria's government after suicide car bombers killed 44 in Damascus.
Western powers say governm
Iranian oil supplies to Europe would be difficult to replace if a ban supported by some European Union states were to be imposed, Opec's secretary general said on Wednesday.
"I really hope that there will be no embargo from the EU, but it
Syria has opened its main prison in Damascus to the Red Cross, the organisation said, a move that could help reveal the fate of some of the thousands detained since the start of a five-month uprising.
The announcement came on Monday as for
Syrian forces killed one person and arrested dozens in raids on an eastern tribal region on Wednesday as part of a crackdown on dissent which could lead to European Union oil sanctions on Damascus as early as next week.
A force of more tha
European Union governments are likely to adopt an embargo against imports of Syrian oil by the end of next week to ratchet up pressure on President Bashar Al-Assad, an EU diplomat said on Wednesday.
The bloc's 27 governments agreed last Fr