For those interested in putting money into the oil-rich nation, a new directive has made it more appealing.» Read More
Iran, world powers to meet in Vienna for nuclear talks. *UK to reopen Iran embassy in diplomatic breakthrough. NEW YORK, June 17- Brent oil held steady above $113 per barrel on Tuesday and U.S. crude weakened slightly as fears over oil supply disruptions from Iraq offset thawing relations between Iran and the West.
NEW YORK/ LONDON, June 17- Gold edged lower on Tuesday, backing away from the previous session's three-week highs as a stronger dollar and possible thawing of Middle East-West tensions quelled appetite for safe-haven assets.
NEW DELHI, June 17- India imported 13.5 percent more Iranian oil in May compared with April as the country's biggest refiner Indian Oil Corp bought crude from Tehran after a three-month break, tanker data obtained from trade sources showed.
James Woolsey, former Director of the CIA from 1993 to 1995, says the U.S. needs to be careful about cooperating with Iran to quell instability in Iraq.
*Medtronic to buy Covidien for $42.9 bln. *U.S. considering talks with Iran over Iraq. NEW YORK, June 16- U.S. stocks edged higher on Monday afternoon, reversing a midday dip, supported by a flurry of merger news, but the advance was limited as investors kept a close watch on rising oil prices caused by turmoil in Iraq.
As rebels continue to create unrest in Iraq, policymakers and observers alike can't agree on what, if anything, the U.S. should do.
A dozen former BNP insiders and senior trading executives said it had in recent months handed over a host of documents relating to its oil dealings with Sudan and Iran, including details on trading houses' and oil majors' involvement in the trades.
BAGHDAD, June 13- Iraq's most senior Shi'ite Muslim cleric urged followers to take up arms against a full-blown Sunni militant insurgency to topple Shi'ite Prime Minister Nuri al-Maliki, escalating a conflict that threatens civil war and a possible break-up of the country.
Shiite Iran is so alarmed by Sunni insurgent gains in Iraq that it may be willing to cooperate with Washington.
LONDON, June 13- In 1988, Supreme Leader Ayatollah Ruhollah Khomeini "drank the cup of poison" and agreed to a U.N.-mediated ceasefire with Saddam Hussein to end the devastating Iran- Iraq war.
*Tehran may be willing to cooperate with US in Iraq. *Iran closely watching insurgent advance in Iraq. ANKARA, June 13- Shi'te Muslim Iran is so alarmed by Sunni insurgent gains in Iraq that it may be willing to cooperate with Washington in helping Baghdad fight back, a senior Iranian official told Reuters.
LONDON- Bank of England Governor Mark Carney says that British interest rates could rise sooner than financial markets expect in a surprisingly stark warning that monetary policy may start to tighten within months. -MARKETS- UK/ REACTION, moved, by Anirban Nag, 480 words.
The stunning victories of the hardline Islamic State in Iraq and the Levant in capturing Iraq's second city Mosul and advancing on the capital Baghdad have grabbed headlines and moved prices, yes, but do not yet appear to have raised long-term supply worries.
Iraq has been absent from the global agenda for years – but now the very existence of the state is being called into question.
BEIJING, June 12- Chinese state-run oil trader Zhuhai Zhenrong Corp has entered a one-year supply agreement to buy Iranian South Pars condensate, in its first term contract for the light crude oil with the Middle East supplier, according to industry officials.
*Iraq fears join Libya and Iran supply uncertainty. VIENNA, June 11- OPEC sailed through a brief, calm meeting on Wednesday- even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran.
Bijan Namdar Zanganeh, Iranian oil minister, discusses the "illegal limitations" imposed on the country's oil production and the on-going talks between Iran and the P5+1.
*Apart from China, others to keep imports steady at first four months level. BEIJING/ TOKYO, June 11- China is set to take more Iranian crude than it did before tough sanctions were put in place in early 2012, as Asia's biggest refiner Sinopec Corp buys more oil from the Middle East nation, sources with direct knowledge of China's buying strategy said.
*Libya arrives for OPEC meet with exports at a trickle. SINGAPORE, June 10- Brent futures rose above $110 a barrel on Tuesday, a day after posting their biggest daily percentage gain in nearly two months, on hopes of healthy demand growth from the United States and China- the world's top two oil consumers.
Richard Mallinson, geopolitical analyst at Energy Aspects, says the talks between Iran and the P5+1 are likely to be extended and that oil supply should therefore stay at the same level for longer.