US FILES A SUIT IN AN ATTEMPT TO SEIZE 2 MILLION OIL BARRELS, SAYS IT IS IRANIAN

Highlights

• The United States has filed a case in an attempt to seize 2 million oil barrels that it claims of coming from Iran

• It also said that the terrorist outfits use oil money for purchasing weapons of mass destruction and carry out human rights abuses

S KOREAN AVIATION FUEL INFLUX RETRACTS BY 40% ON WEAK GLOBAL FUEL DEMANDS

• The consumption of jet fuel in South Korea saw a 40.5 percent year-on-year drop during the first quarter this year, according to the latest data feed from the Korea National Oil Corporation.
• With most international flights from Korea canceled due to weak travel demand and inter...

SAUDI ARABIA IN AN AGGRESSIVE BID TO TILT THE OIL MARKET SHARE IN ITS FAVOR

• Saudi Arabia accused of decimating the rival oil producing nations by increasing oil stakes in an oil-inundated market
• Saudi Arabia has made intentions clear by refusing to act as the steadying force in a crumbling market.

An increase in oil reserves in all co...