Bus, oil tanker collision kills at least 13 in Iran

As it stated in Deadly accident in an highway in Kurdistan Province also left at least nine people injured. An overnight passenger bus and a fuel tanker collided early on Wednesday in western Iran, killing at least 13 people and injuring several others. Iran's Mehr news agency reported early on Wednesday that the tanker carrying tar crashed into the passenger bus in Sanandaj, a city in Iran's Kurdistan province, about 400km west of capital Tehran. According to highway police, the tanker ran into the bus on a highway near Sanandaj. Kurdistan province has declared three days of public mourning over the crash.

OIL PRICE CRISIS: Iran threatens to CUT OFF oil reserves to world

Following Donald Trump's warnings of punishments for companies which purchase Iranian oil, President Hassan Rouhani warned Tehran could soon halt exports of oil to neighbouring countries. Yesterday the leading commander of Iran's Revolutionary Guard, an elite branch of the military, said he is prepared to follow presidential orders to halt Iranian oil exports. Major-General Qassem Soleimani said in a letter published on Islamic Republic News Agency (IRNA): "I kiss (Rouhani's) hand for expressing such wise and timely comments, and I am at your service to implement any policy that serves the Islamic Republic."And Esmail Kowsari, deputy commander of the Sarollah Revolutionary Guards base in Tehran, said: "Any hostile attempt by the U.S. will be followed by an exorbitant cost for them. "If Iran's oil exports are to be prevented, we will not give permission for oil to be exported to the world through the Strait of Hormuz."

US oil hits $74 per barrel on concern over Iran sanctions

as mentioned in U.S. oil prices rose to a three-and-a-half year high on Thursday, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran. U.S. West Texas Intermediate (WTI) crude futures settled at $73.45 a barrel, up 69 cents, or 0.95 percent. The United States this week demanded all countries halt imports of Iranian oil from November, a hardline position the Trump administration hopes will cut off funding to Tehran. Oil prices have rallied for much of 2018 on tightening market conditions due to record demand and voluntary supply cuts led by OPEC and other producers including Russia. But analysts say the market has little spare capacity to deal with further disruptions.

Iran says Trump's oil ban on Iran is 'self harm' — SHANA

President Donald Trump's pressure on international firms not to buy Iranian oil will drive prices higher and end up hurting his own economy, a senior Iranian oil official said on Wednesday. Iran's OPEC governor, Hossein Kazempour Ardebili, said oil should not be used as a weapon or to make political gains, according to the Iran oil ministry news agency SHANA. "Trump's demand that Iranian oil should not be bought, and (his) pressures on European firms at a time when Nigeria and Libya are in crisis, when Venezuela's oil exports have fallen due to U.S. sanctions, when Saudi's domestic consumption has increased in summer, is nothing but a self harm," he was quoted as saying. "It will increases the prices of oil in the global markets," he said. "At the end it is the American consumer who will pay the price for Mr. Trump's policy," he added.

Will do our best to ensure oil supply to India: Iran

NEW DELHI: Iran on Wednesday said it will do its best to ensure the security ofto India, asserting that it has been a reliable energy partner for New Delhi. The clarification by Iranian Embassy came a day aftercautioned New Delhi that it will stand to lose "special privileges" if it cuts import of Iranian oil following US sanctions. Iran criticises India for not making promised investments in Chabahar port Read Also:The embassy said Iran will do its best to ensure security of oil supply to India by offering various flexible measures which facilitate bilateral trade, particularly Indian exports to Iran. "Iran has always been a reliable energy partner for India and others, seeking a balanced oil market and rational prices of oil which ensure the interests of both countries as consumer and supplier," the embassy said in a statement. The embassy said Iran and India share the same understanding towards many global and regional challenges and cooperate harmoniously in many international fronts.

collected by :Frank Ithan