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Oil swung wildly Monday as fears over the Strait of Hormuz collided with signals the US-Iran conflict may soon wind down.
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Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Donald Trump called $100 oil a 'small price to pay'.
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Crude oil stocks, not including the SPR, stood at 439.3 million barrels on February 27, according to the EIA's latest weekly petroleum status report.
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Saudi Arabia has started reducing oil production as the crucial Strait of Hormuz chokepoint remains at a near-standstill.
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The project will replace seven aging gas-run compressor stations with one electric compressor station to 'debottleneck upstream infrastructure and unlock future production growth' from the Central Fields.
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The best estimate of contingent gas resources on Cyprus' side of the field, located on the maritime border with Israel, has increased about 4 percent to 3.67 Tcf, according to a commissioned assessment.
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'The island has evolved into the backbone of Iran's export system', J.P. Morgan analysts stated.
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Part of proceeds from the offering of senior notes, due 2036 with a 5.15 percent interest, will be used to refinance existing debt.
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'These are just incredible moves', Aaron Hill, Chief Market Analyst at FP Markets, said.
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The Spanish power and gas utility has expanded its Australian presence to five states.
