Oil Industry News
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Energy Down Alongside Oil Futures - Energy Roundup
Shares of energy companies ticked down alongside oil futures. Oil fell 1.3% to $68.58 a barrel, the lowest level since the eve of the Iran war. Oil prices have now declined on six of the last eight sessions. Commercial crude oil stocks excluding…
Edible oil industry body IVPA inks MoU with China's trade body CFNA for bilateral cooperation
Edible oil industry body IVPA has signed an MoU with China Chamber of Commerce of Foodstuffs and Native Produce (CFNA) to strengthen cooperation between the companies of the two countries. In a statement on Thursday, Indian Vegetable oil Producers'…
Evolution of Scotland's oil and gas sector is creating positive energy
ONE of Scotland's proudest industries, oil and gas, has undergone a highly publicised transformation in recent years; the UK now imports over 42% of its energy needs, up from around 30% in 2019. A leading UK wealth planning business, TrinityBridge…
Alarm after herring gulls found covered in oil in Peel
A series of herring gulls have been found doused in oil in the west of the Isle of Man, prompting concerns from conservationists. Thirteen birds were discovered around Mill Road in Peel coated in an unknown orange substance and 'smelling like fish…
The backlash to Iranian oil sanctions relief misses the point
The Trump administration is currently coming under fire for their decision to temporarily lift sanctions on Iranian oil, but the proposed alternatives have become detached from reality. The vocal opponents are treating the decision as though…
NYMEX Overview: Crude Futures Fall on Optimism Over Recovering Middle East Oil Flows -- OPIS
London-based September ICE Brent crude futures were down about 90cts to $70.65/bbl and October Brent was around 85cts lower to $71.15/bbl. The price differential between WTI and Brent widened slightly to around $4/bbl, which was still sharply lower…
Watch Prasad: Oil Flow is Up But Market Uncertainty Remains
Prasad: Oil Flow is Up But Market Uncertainty Remains Oil extended its drop for a third day, as flows through the Strait of Hormuz climbed. Aathira Prasad, Director of Macroeconomics at Nasser Saidi & Associates, spoke to Bloomberg's Abeer Abu Omar…
India Plans to Expand Oil Reserves to Guard Against Price Spikes
India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I'm not worried about it, but I have to prepare for it,” Oil…
Oil falls to four-month low as US, Iran conclude talks in Doha
HOUSTON, July 2 (Reuters) - Oil prices fell more than 1% to a four-month low on Thursday as concerns over supply disruptions eased after mediator Qatar said Iran and the U.S. made progress in talks over ending the four-month war that shut…
Oil drops below prewar prices on Saudi supply rebound - TT
“A wave of oil is about to enter the market,” said Natasha Kaneva, head of commodities research at JPMorgan Chase & Co. (Elke Scholiers/Getty Images via Bloomberg) Oil fell below prewar levels as Saudi Arabia restored crude exports…
Iran's Floating Oil Stockpile Swells as Major Buyers Stay Away
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington. More than 58 million barrels of Iranian crude and condensate was on-the-water as of July 1…
Stocks Rise on Jobs Miss, Saudi Oil Ships Through Hormuz, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
Palm Oil Dips on Weaker Crude and Malaysian Production Outlook
Palm oil edged lower, weighed down by declining crude prices and expectations for strong output from the second-biggest grower, Malaysia. Futures in Kuala Lumpur dipped 0.2% to trade near 4,545 ringgit per ton, erasing the previous session's gain.
With Hormuz reopened, has the oil shortage turned into a glut?
The Strait of Hormuz is reopening faster than expected, after the US and Iran signed a memorandum of understanding (MoU) and launched indirect talks in Qatar to discuss the flow of shipping. Global oil prices have fallen back, providing respite to…
Daily on Energy: Trump's nuclear deadline met, oil prices decline further, and U.S. to outpace China on fossil fuel spending
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson). Email cpatteson@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this…
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