Hedge funds cut bets on rising oil prices at the fastest pace since December 2012 as U.S. inventories expanded to the highest in more than three decades.
The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices.
Iran’s Parliament has approved a proposal to increase the rate of gasoline in the budget bill for the next calendar year of 1394 (to begin 21 March 2015).