Oil

A drone attack targeted an oilfield in Iraqi Kurdistan this Thursday, in what represents a big hit that lowers oil output between 140,000 and 150,000 barrels per day.

Several oilfields halted operations due to significant infrastructure damage, the Kurdistan region's Natural Resources Ministry said.

The drone attacks have been a continued source of concern for Erbil and the Kurdistan regional authorities, who govern the Kurdish autonomous region in northern Iraq.

Iran's Department of Environment condemned Israel's targeting of fossil fuel storage facilities and industrial infrastructure, calling it "a destructive assault on the natural environment"

Refineries purchase Iranian oil, and then transfer payments to these front companies, who in turn, move funds to other front company accounts also controlled by IRGC-QF, OFAC stated.

The US has imposed waves of sanctions on Iran's oil exports over its nuclear program and funding of terrorist groups across the Middle East.

The food-tech company Beyond Oil has developed an innovative formula that may reduce carcinogenic substances from used frying oil.

The loading of the mines - which have not been deployed in the strait - suggests that Tehran may have been serious about closing one of the world's busiest shipping lanes.

A sophisticated theft operation led to a months-long investigation. Four suspects with different roles, a battle over millions in cash, and a product that has become the gold of the modern age.

The world's top oil importer and biggest buyer of Iranian crude brought in more than 1.8 million barrels per day from June 1-20.