RIYADH: Oil prices inched lower in early trade on Wednesday as US consumer prices unexpectedly rose in August, giving cover for the US Federal Reserve to deliver another hefty interest rate increase next week. Brent crude futures were down 0.53 percent at $93.20 a barrel at 07.30 a.m Saudi time. US West Texas Intermediate crude is priced at $86.90 a barrel, down 0.47 percent.
DUBAI: Iran on Tuesday brought under control a fire at its Shadegan oilfield which was caused by an apparent act of sabotage, a local oil company official told state television. The fire was caused early on Tuesday after “tampering by unknown elements,” but it was quickly brought under control, Qobad Nasseri, head of the Maroon Oil and Gas Production Company which exploits
DUBAI: Iranon Tuesday brought under control a fire at its Shadegan oilfield which was caused by an apparent act of sabotage, a local oil company offic.