Recent Posts

Oil Gains over $1 as Gustav Shuts US Output

TEHRAN (FNA)- Oil prices rose more than $1 on Monday after energy firms in the US Gulf shut down nearly all offshore oil output and a host of flood-prone coastal refineries ahead of Hurricane Gustav, the biggest threat since 2005’s devastating Katrina.

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Persian Gulf Monarchies to Boost Links with Turkey

TEHRAN (FNA)- Oil-rich Persian Gulf monarchies will sign an accord with Turkey aimed at boosting ties between the Arab bloc and Ankara, the chief of the Persian Gulf Cooperation Council (PGCC) said on Sunday.

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