Oil prices fell on Thursday but stayed within the tight range they have been in all week, as optimism on the summer driving season in the United States and Europe offset concerns about demand in India and a potential supply increase from Iran.
Hyundai Motor Group will slash the number of combustion engine models in its line-up to free up resources to invest in electric vehicles (EVs), two people close to the South Korean automaker told Reuters.
Japanese refiners will need at least three months to resume Iranian oil imports even if Tehran's nuclear talks with world powers lead to an agreement and a lifting of sanctions, the head of the Petroleum Association of Japan (PAJ) said on Thursday.
Venezuela's first diesel imports since November arrived this week aboard the tanker Bueno, carrying almost 500,000 barrels of fuel desperately needed by farmers and truckers in the sanction-hit country, according to a shipping document and two sources.