Oil prices slip further as markets await clarity on Iran ceasefire deal
Oil prices edged lower on Tuesday (16 June) as traders assessed the possibility of oil supplies returning through the Strait of Hormuz following a pre...
Traces of organic chlorides have been detected in some batches of crude oil sent to global markets via the Baku–Tbilisi–Ceyhan (BTC) pipeline, one of Azerbaijan’s main export routes.
This information was confirmed following an inquiry addressed to BP, the operator of the BTC project. Tamam Bayatli, Head of Communications at BP Azerbaijan, told AnewZ that BTC Co has conducted a comprehensive quality assessment of crude oil across all facilities along the pipeline.

Speaking to Anewz, Tamam Bayatli, Head of Communications at BP Azerbaijan, stated that
"The results of the assessment confirmed the presence of organic chlorides in some of the tanks at the Ceyhan terminal. Respective actions were taken to contain those tanks while continuing the loadings from the tanks that were assessed to be within the normal specification. BTC Co. has also continued to take necessary actions to fully resolve the issue. Currently, BTC export operations and loadings of Azeri crude at the Ceyhan terminal are continuing."
The company is currently undertaking measures to fully resolve the issue in close cooperation with SOCAR, with sampling continuing prior to each loading.

Experts note that, thanks to the timely measures taken by the company, there have been no stoppages or delays in the export process.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
Oil prices edged lower on Tuesday (16 June) as traders assessed the possibility of oil supplies returning through the Strait of Hormuz following a preliminary agreement aimed at ending the conflict involving Iran.
In an historic milestone for South Caucasus diplomacy, Hikmat Hajiyev, Assistant to the President of the Republic of Azerbaijan, conducted his first working visit to Armenia on 14 June for a high-level meeting with Armen Grigoryan, Secretary of the Security Council of the Republic of Armenia.
Iran has said that reaching an agreement with the U.S. to end the war does not mean Tehran will overlook what it describes as war crimes committed against Iranians by Israel and the United States.
The Trans-Caspian East-West International Transport Corridor, commonly known as the Middle Corridor, is a multimodal trade route linking China and the European Union via Central Asia, the Caspian Sea, the Caucasus and Türkiye.
The United Nations Security Council unanimously extended the United Nations Assistance Mission in Afghanistan (UNAMA) until 17 June 2027 in New York on Monday, preserving its humanitarian, rights and political work.
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