WorldOil Oil prices rebound ahead of Iran nuclear deal talks Oil prices showed signs of recovery in advance of multiparty negotiations taking place in Vienna later on Tuesday, though the chances of a breakthrough are seen by analysts as slim. China inks 25-year oil investment deal with Iran, straining U.S. ties Beijing plans to invest in Iran while buying oil from the Islamic Republic, further straining its relationship with the U.S. which has already been frayed by China’s imports of covertly-shipped Iranian crude. China buying record volumes of Iran’s sanction-discounted crude Chinese imports of Iranian crude will hit 856,000 barrels a day in March, the most in almost two years and up 129% from last month, said Kevin Wright, a Singapore-based analyst with Kpler. Israel calls oil spill an act of ‘environmental terrorism’ by Iran A Libyan ship that sailed from Iran dumped oil into the sea off the coast of Israel in early February, Israel's Minister of Environmental Protection Gila Gamliel told reporters on Wednesday. Iran calls U.S. oil tanker seizure an ‘act of piracy’ Iran said an attempt by the U.S. government to seize 2 million barrels of oil aboard a Greek-owned tanker was “an act of piracy,” as tensions between Washington and the Islamic Republic show little sign of easing under Joe Biden’s presidency. U.S. signals Biden’s tough stance on Iran with new oil seizure attempt The Department of Justice filed a case in a U.S. district court, seeking to seize the cargo on the Greek-owned Achilleas tanker. The U.S. alleges that Iran’s Islamic Revolutionary Guard Corps and the IRGC-Qods Force covertly shipped the oil abroad. Iran says more oil exports are key to restoring U.S. nuclear deal Iran sent a clear signal to the Biden administration that it expects relief from sanctions, and the full restoration of the United Nations resolution that underpins the deal, before it starts scaling back its nuclear activities. Iran exporting more oil as U.S. sanction pressure fades With the U.S. campaign of “maximum pressure” now over, Iran’s oil customers may be growing a little bolder. Iran boosts oil production to pre-sanction levels President Biden is expected to seek the restoration of the nuclear accord, and officials in Tehran have expressed the hope he will ease restrictions on its petroleum sales. But for now, the sanctions are still in place and any buyer of Iranian crude would face the same legal and financial penalties. South Korea lobbies Qatar for aid in recovering tanker seized by Iran Choi traveled to Doha from Tehran after fruitless talks over the South Korean-flagged Hankuk Chemi, an oil-products tanker detained by the Islamic Revolutionary Guard Corps on Jan. 4. He also discussed billions of dollars of Iranian money trapped in South Korea due to U.S. sanctions.