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  • Oil prices fall after hitting 2015 highs Wednesday, 6 May 2015 | 8:45 PM ET

    *OPEC indicates it will not cut output alone. OPEC comments made overnight also indicate that core Gulf oil producers are not wavering in their strategy to focus on market share rather than cutting output alone, suggesting big policy changes are unlikely at the June meeting unless non- OPEC producers change their stance. As a result, benchmark Brent crude...

  • LONDON, May 6- Oil prices rose more than a dollar to 2015 highs on Wednesday, as a month-long rally gained further impetus from a fall in U.S. crude stocks and conflict in the Middle East. Brent crude jumped by $1.36 to $68.88 a barrel by 0855 GMT, after hitting a 2015 peak of $69.14. "We haven't seen hedge funds and money managers to be as optimistic and bullish as they are...

  • TEHRAN, Iran— A Marshal Islands-flagged cargo vessel seized by Iranian forces as it was traversing the Strait of Hormuz last month will likely be released in two days, after it pays a fine, Iran's Foreign Ministry spokeswoman said Wednesday. Iranian forces boarded the ship after firing warning shots across the bridge and later took it to Bandar Abbas, the main...

  • UNITED NATIONS, May 5- Washington wants to be certain that any nuclear deal between Iran and major powers includes the possibility of restoring U.N. sanctions if Tehran breaks the agreement without risking Russian and Chinese vetoes, a senior U.S. official said on Tuesday. United Nations sanctions and a future mechanism for Iran to buy atomic technology are two...

  • UNITED NATIONS, May 5- Iran and world powers are struggling to overcome deep divisions on two core sticking points in talks on a possible nuclear deal: reimposing U.N. sanctions if the Iranians violate the agreement and how Tehran can buy atomic technology, envoys said. The negotiations between Iran, the United States, Britain, France, Germany, Russia, China and the...

  • *India to build port in Iran to get more trade with CIS and Gulf. NEW DELHI, May 5- India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran. India and Iran agreed in 2003 to develop a...

  • RIYADH, Saudi Arabia— French President Francois Hollande vowed to defend Gulf Arab allies as he announced Tuesday that his country is in talks with Saudi Arabia for business deals worth tens of billions of euros. Hollande made the remarks after a ceremonial meeting in Saudi Arabia's capital, Riyadh, with the heads of state of the six energy-rich countries of the...

  • RIYADH, May 5- After failing for years to win a single order for the Dassault-built Rafale fighter jet, France has scored a string of multi-billion-euro wins in recent weeks and is on a quest for more. Egypt, India and Qatar have all just signed contracts. After signing deals worth some 15 billion euros for a total of 84 aircraft, France now has the United Arab Emirates...

  • *India to build port in Iran to get more trade with CIS and Gulf. NEW DELHI, May 5- India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran. India and Iran agreed in 2003 to develop a...

  • *Saudis consider halt to Yemen bombing to let humanitarian aid in. SINGAPORE, May 5- Brent crude oil futures slipped towards $66 a barrel on Tuesday, falling from a 2015 high, as Saudi Arabia considered halting bombing in Yemen to allow the delivery of aid, which eased concerns about oil supply from the Middle East. "The stronger U.S. dollar and also news out of Saudi...

  • *Saudis consider halt to Yemen bombing to let humanitarian aid in. SINGAPORE, May 5- Brent crude oil futures slipped towards $66 a barrel on Tuesday, falling from a 2015 high, as Saudi Arabia considered halting bombing in Yemen to allow the delivery of aid, which eased concerns about oil supply from the Middle East. "The stronger U.S. dollar and also news out of Saudi...

  • Talks between six major powers and Tehran are approaching the final stages after they hammered out a preliminary agreement on April 2, with Iran committing to reduce the number of centrifuges it operates and to other long-term nuclear limitations. Iran, which is has been under sanctions for years, has a long history of illicit nuclear procurement using front...

  • TOKYO, April 30- Asian imports of Iranian crude fell 9.2 percent in March from a year ago as India bought no oil from the sanctions-hit country for the first time in at least a decade under U.S. pressure, offsetting a jump in purchases by Japan and South Korea. Imports by Iran's four biggest buyers- China, India, Japan and South Korea- totalled 1.04 million barrels per...

  • Talks between six major powers and Tehran are approaching the final stages after they hammered out a preliminary agreement on April 2, with Iran committing to reduce the number of centrifuges it operates and other long-term nuclear limitations. "The UK government informed the Panel on 20 April 2015 that it' is aware of an active Iranian nuclear procurement...

  • SEOUL, April 30- U.S. crude futures held around $58.50 a barrel on Thursday, near their highest this year as U.S. crude stockpiles grew less than expected after the first decline since November in stocks at the main U.S. delivery hub. *Brent crude futures, the more widely-used benchmark, shed 39 cents to $65.45, after finishing up $1.20 at $65.84 in a session that saw...

  • The cities at greatest risk for a mega-quake Wednesday, 29 Apr 2015 | 10:50 AM ET
    A member of Nepalese police personnel walks amidst the rubble of collapsed buildings, in the aftermath of Saturday's earthquake in Kathmandu, Nepal, April 27, 2015.

    In earthquake-prone cities, growing populations live amidst infrastructures that are unable to withstand the effects of large quakes.

  • Iran scraps cash handouts to its wealthiest to ease burden Wednesday, 29 Apr 2015 | 10:25 AM ET

    TEHRAN, Iran— Iran has scrapped the country's wealthiest citizens off a list of people receiving monthly cash handouts in a small step toward easing the burden on the budget and freeing up more government funds, an official said Wednesday. That deal, expected to be finalized by the end of June, is meant to ensure that Iran cannot make a nuclear weapon in return for...

  • The Marshall Islands- flagged MV Maersk Tigris was taken Wednesday to Bandar Abbas, the main port for Iran's navy, under escort by Iranian patrol boats, according to Maersk Line, the Danish shipping company that had chartered it. The incident comes at a critical time in Iran's relations with the United States and the West, as talks about its contested nuclear...

  • Iran vessel takeover: Who probably did it—and why Tuesday, 28 Apr 2015 | 1:04 PM ET
    Iranian Revolutionary Guards drive speedboats during a ceremony to commemorate the 24th anniversary of the downing of Iran Air flight 655 by the US navy, at the port of Bandar Abbas on July 2, 2012.

    Iran's abrupt seizure of a commercial vessel in the Persian Gulf raises a question of who ordered the taking of the Maersk Tigris, and why?

  • Iran seizes Western cargo ship: Pentagon Tuesday, 28 Apr 2015 | 12:33 PM ET
    The Maersk Tigris was reportedly by seized by Iranian forces on April 28, 2015.

    The Iranian military on Tuesday seized a Western cargo ship in the Persian Gulf, the Pentagon said, roiling markets.