WorldOil Oil pares steep weekly loss as U.S. says it downed Iranian drone Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Iran says it seized ship for smuggling, stoking tensions Iran said it seized a foreign ship that was smuggling fuel in the Persian Gulf, an act that threatens to heighten already tense relations in the world’s biggest oil-exporting region. EIA: Iran drove unplanned OPEC production outage to highest levels since 2015 EIA says unplanned crude oil production outages for OPEC averaged 2.5 MMbpd in the first half of 2019, the highest six-month average since the end of 2015. Iran confirms it seized fuel tanker in the Persian Gulf Oil extended gains after Iran confirmed it had seized an oil tanker in the Persian Gulf earlier this week. Oil extends loss as U.S. and Iran signal return to negotiations Oil extended losses below $60/bbl on the prospect of easing tensions between the U.S. and OPEC member Iran, and as Gulf of Mexico producers began resuming operations after a storm. Oil and gas in the capitals Middle Eastern Oil: Is Trump making the situation worse? BP oil tanker shelters in Persian Gulf on fear of Iran retaliation An oil tanker, run by BP, is being kept inside the Persian Gulf in fear it could be seized by Iran in a response to the arrest by Gibraltar last week of a vessel hauling the Islamic Republic’s crude. Iran says seized oil tanker in Gibraltar wasn't sailing to Syria Iran said an oil tanker that was seized by British forces near Gibraltar wasn’t destined for Syria. Bombed oil tanker near Persian Gulf now shipping fuel to Iran An oil tanker damaged in a bombing that was blamed on Iran is back in business. The ship’s first destination: Iran. Iran says EU’s channel for trade not enough without oil Iran’s oil minister said a European mechanism to shield some trade with his country from crippling U.S. sanctions won’t be useful if it doesn’t allow for oil sales, as efforts to preserve the unraveling nuclear deal face a looming deadline.