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  • TEHRAN, May 24- Hopes that Iran would quickly reintegrate with world markets after its nuclear deal, bringing investment and opportunities to a young population, are turning to frustration. An opaque business environment in Iran and political uncertainty in the United States are to blame. Tehran's hotels are buzzing with businessmen keen for a slice of a big...

  • NEW YORK, May 23- Oil prices eased again on Monday after Iran vowed to ramp up output and as the number of rigs drilling for crude in the United States held steady after declining for eight straight weeks. Oil has traded in a $5 range below $50 a barrel for the past month, buoyed by supply disruptions from Canada to Venezuela and Nigeria. "We are still not seeing any...

  • *Brent to average $45/ barrel this year, WTI $45- Goldman. NEW YORK, May 23- Oil prices eased again on Monday after Iran vowed to ramp up output and as the number of rigs drilling for crude in the United States held steady after declining for eight straight weeks. Oil has traded in a $5 range below $50 a barrel for the past month, with prices buoyed by supply disruptions from...

  • BHUBANESWAR, India, May 23- India's National Aluminium Co Ltd and Iran's mining development body have agreed to explore the possibility of building an aluminum smelter in Iran, NALCO said in a statement on Monday, as New Delhi tries to boost trade ties with Tehran after the lifting of sanctions. The agreement also opens up the prospect of other Iranian smelters...

  • TEHRAN, Iran— India said Monday it will invest up to $500 million in a deal to develop a strategic port in Iran and both countries planned a number of projects they say are worth hundreds of millions of dollars. In a ceremony marking the agreements, Modi said the bilateral agreement to develop Chabahar, in southern Iran, and the "availability of about $500 million...

  • Brent futures were down 14 cents at $48.58 a barrel as of 0154 GMT, after ending the previous session 9 cents down. That came as U.S. crude rose 3.3 percent last week, while Brent was up 1.7 percent, as unplanned supply outages rose to the highest since at least 2011 due to wildfires in Canada and losses in Nigeria, Libya and Venezuela. "It's hard to trade with the current...

  • U.S. crude futures fell 16 cents to $48.25 a barrel as of 2347 GMT after settling down 41 cents in the previous session. Brent futures were down 7 cents at $48.65 a barrel after ending the previous session 9 cents down. U.S. crude rose 3.3 percent last week, while Brent was up 1.7 percent week, as unplanned supply outages rose to the highest since at least 2011 due to...

  • WASHINGTON, May 19- The United States and European powers will work to clear up any confusion companies may have about doing business with Iran following Tehran's acceptance of a deal to curb its nuclear program, the countries said in a statement on Thursday. Despite an influx of investment into Iran from the West, uncertainty over the rules is making some firms...

  • Tough sanctions on Iran that hammered its oil exports may have helped the country cope with the commodities slump by forcing it to diversify its economy.

  • LONDON, May 19- Iran's efforts to unify its official exchange rate with the market rate have been stymied by a lack of progress in re-integrating the country in international capital markets, central bank governor Valiollah Seif said on Thursday. In January, world powers led by the United States and the European Union lifted most sanctions on Iran in return for...

  • TEHRAN, Iran— A senior International Monetary Fund official says Iran must deal with a shift to lower crude prices and cannot count on a big jump in oil revenue as it looks to boost production and better integrate with the global economy. First Deputy Managing Director David Lipton made the remarks Tuesday during a visit to Iran's Central Bank.

  • IMF official warns Iran of its oil dependency

    Deputy managing director, David Lipton says the country can no longer rely on oil to fuel growth in the future.

  • LONDON, May 16- A Swedish firm is looking to launch the first initial public offering to raise capital for investments in Iran since international sanctions on Tehran were lifted. Although global trade sanctions against Iran were lifted in January in return for Tehran curbing its nuclear program, the United States still forbids its own nationals and firms to...

  • *U.S. sanctions on trade with Iran still in place. LONDON, May 16- A Swedish firm is looking to launch the first initial public offering to raise capital for investments in Iran since international sanctions on Tehran were lifted. Although global trade sanctions against Iran were lifted in January in return for Tehran curbing its nuclear programme, the United...

  • TEHRAN, Iran— Iranian police have arrested eight people in a new crackdown targeting "un-Islamic acts" online such as female models posting images of themselves without their hair covered, state media reported Monday, part of a larger cultural struggle in the Islamic Republic over the country's future. The arrests and harsh sentences handed down signal that...

  • *Major oil exporters Nigeria, Venezuela in crisis. *Renewed Canadian output, rising OPEC supplies also weigh. Supply disruptions from Nigeria, Venezuela, the United States and China triggered a U-turn in the oil outlook of Goldman Sachs, which long warned of overflowing storage and another looming crash in prices.

  • *Major oil exporters Nigeria, Venezuela in crisis. *Recovering Canadian output, rising OPEC supplies weigh on market. SINGAPORE, May 16- Oil prices edged up in early trading on Monday as output falls in Nigeria and worries about political instability in Venezuela tightened the market, although rising OPEC output and a stronger dollar capped gains.

  • DUBAI, May 14- Kuwait's deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran, state news agency KUNA reported on Saturday. "There is no choice but to freeze production," KUNA quoted Jarallah as telling Japanese news agency Jiji press while he and acting oil...

  • *Forecast drop in 2016 non- OPEC supply is uncertain. *OPEC output climbs in April; implied surplus rises. LONDON, May 13- OPEC said the global oil market is oversupplied and signalled the glut may increase this year, as surging output from its members makes up for losses from other countries whose production has been hit by a price fall.

  • *Forecast drop in 2016 non- OPEC supply is uncertain. *OPEC output climbs in April; implied surplus rises. *Saudi Arabia tells OPEC it raised April production.