Iran steps up uranium enrichment, seizes tanker

The Hindu | Jan 4, 2021 at 12:36 PM

Iran on Monday began enriching uranium up to 20% at an underground facility and seized a South Korean-flagged oil tanker in the crucial Strait of Hormuz, further escalating tensions in West Asia between Tehran and the West.

Egypt: exploration deals worth 1 bn for gas and oil

ANSAmed | Jan 4, 2021 at 11:55 AM

Egypt has signed nine oil and gas exploration deals worth one billion dollars with local and international energy companies, the country’s oil ministry said in a statement reported by Emirati newspaper The National.

Oil Highly Volatile During OPEC+ Meeting

OilPrice.com | Jan 4, 2021 at 11:15 AM

In the morning trade on the first trading session of the new year, oil futures on the New York Mercantile Exchange and the Intercontinental Exchange saw mixed results, with international benchmark backing off overnight highs as traders remain uncertain whether the OPEC+ coalition will leave production quotas unchanged next month, skipping a 500,000 bpd increase amid rising COVID-19 cases and slower-than-expected roll-out of immunization campaigns in the U.S. and the European Union.