Reuters Iran supports an oil price of $50-60 per barrel and any measure to stabilise the market, state TV quoted the country’s oil minister as saying on Tuesday. “Iran wants a stable market and therefore any measure that helps the stabilisation of the oil market is supported by Iran,” Bijan Zanganeh said after meeting OPEC Secretary-General Mohammed Barkindo in …

  Bloomberg Brent oil dropped after a pledge by Russia and Saudi Arabia to cooperate to stabilize the market failed to include any specific measures to bolster prices. Futures fell as much as 0.8 percent in London after climbing 4.8 percent over the previous two sessions. Brent jumped as much as 5.5 percent on Monday as news broke that Saudi …

  Bloomberg A group of liquefied natural gas industry executives is launching a digital platform that will allow LNG traders to buy and sell spot cargoes via online auctions. The Global LNG Exchange, or GLX, will begin testing its platform in October and plans to handle live deals starting in the first quarter, Chief Executive Officer Damien Criddle said in …