India's annual trade surplus with the US has averaged about $20 billion in the past four years. The US this year has withdrawn preferential treatment on some Indian exports to the US, stepping up the pressure on New Delhi, while arguing that India has not provided equitable and reasonable access to its markets.

Brent were down 52 cents or 0.84% at $61.39 a barrel, WTI were 35 cents or 0.63% lower at $55.56 a barrel.

“If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” Prince Mohammed, known as MbS, said through a translator. “Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes.”

Germany and the UAE see that there is a great value in close consultations on foreign and security policy, Annen said. "We also want to deepen our cooperation on trade and investment, in particular on exchanging state-of the-art technologies and enabling small and medium-sized companies to succeed in our respective markets," the minister explained.

U.S. Rig Count is down 8 rigs from last week to 860, with oil rigs down 6 to 713, gas rigs down 2 to 146, and miscellaneous rigs unchanged at 1. Canada Rig Count is up 8 rigs from last week to 127, with oil rigs up 6 to 88 and gas rigs up 2 to 39.

Brent fell 6 cents to $62.68 a barrel, WTI rose 18 cents to $56.59 a barrel

Представитель Минэнерго сообщила, что сегодня в топливно-энергетическом балансе России более 60% приходится на долю безуглеродных или низкоуглеродных источников энергии. В части электроэнергетического баланса 75% выработки электроэнергии уже осуществляется на источниках с низкой удельной эмиссией парниковых газов, в том числе на атомных и гидроэлектростанциях. «По сути, топливно-энергетический и электроэнергетические балансы нашей страны уже сегодня соответствуют логике низкоуглеродного будущего», - заключила Анастасия Бондаренко.

Turkish President Tayyip Erdogan said on Friday it was impossible for Turkey to stop buying oil and natural gas from Iran, despite the threat of U.S. sanctions, and added that trade between the two countries would continue, according to broadcaster NTV.

ExxonMobil signed an agreement with Vår Energi AS for the sale of its non-operated upstream assets in Norway for $4.5 billion

Brent were at $62.55 a barrel, WTI gained 13 cents, or 0.23%, to $56.62 a barrel.

“I should like to invite all the countries directly affected by the developments in the Persian Gulf and the Strait of Hormuz to the Coalition for Hope meaning Hormuz Peace Endeavor,” stated President Rouhani.

«Мы активно взаимодействуем в многостороннем формате, в том числе в рамках усилий по стабилизации рынка нефти, а также по линии Форума стран-экспортеров газа. Российские компании ТЭК имеют многолетнюю историю успешного взаимодействия с венесуэльскими партнерами» - добавил Министр.

At 419.5 million barrels, U.S. crude oil inventories are at the five year average for this time of year

Analysts have said the Trump administration remains unlikely to sanction a major Chinese entity, even as imports of Iranian crude continue, due to the impact on the global economy if the trade dispute between the two nations drags on.

Brent were down $1.05 cents at $62.05 a barrel, WTI dropped to $56.47 a barrel, down 82 cents.