Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The battle for green gold: 'Foreign olive oil passed off as Italian, while ours sits bottled up in tanks'
The language farmers use when protesting can sound melodramatic. “Harvest season is about to begin, and we can no longer afford to harvest tears,” one farmer proclaimed from the stage in Piazza Prefettura in Bari, where the first…
Rubio's India Visit: The Russian Oil Factor
US Secretary of State Marco Rubio's visit to India this week underscores the complex dynamics of global energy policy, as Washington re-evaluates sanctions on Russian oil buyers amidst India's continued reliance on Russian crude. US Secretary of…
Oil prices are falling sharply
The price of crude oil has fallen sharply again after Friday's high. However, Brent crude is still trading well above the $100-per-barrel mark. (File photo) Oil prices fell sharply at the start of the week after reaching a five-month high on…
Oil Futures Fall on Possible Correction, But Drop May Be Limited by Geopolitical Tensions
2348 GMT — Oil futures fall in early Asian trade on a possible technical correction after futures posted strong gains last Friday. However, futures' decline may be limited by geopolitical tensions that could lead to supply disruptions.
Russia says 'massive' drone attack kills one, hits oil sites
A 'massive' Ukrainian drone attack overnight killed one person, wounded five others and set two oil refineries ablaze in the Russian city of Saint Petersburg, its governor said Sunday. SCROLL TO CONTINUE WITH CONTENT 'One person was killed and five…
Stock futures rebound as oil nears $110, AI earnings loom
U.S. stock futures (SPX) advanced as investors prepared for a busy week of corporate earnings and Chinese economic reports, while oil prices remained near $110 a barrel amid escalating geopolitical tensions. S&P 500 futures (SPX) rose 0.3% and…
Ukraine war live: Kyiv launches massive 1,000-drone attack and sets oil sites ablaze
Ukraine launched more than 1,000 drones against Russia and set an oil terminal ablaze in St Petersburg after the US resumed intelligence sharing with Kyiv. The attacks, which sparked fires at the Petersburg Oil Terminal and the city's Ruchi oil…
Asian shares are mixed with tech stocks volatile, and oil falls on Trump's Russian sanctions waiver
Asian shares were mixed Monday as volatility in technology stocks persisted, while U.S. equity futures edged higher ahead of another week of American corporate earnings results. Oil prices fell more than 1% after U.S. President Donald Trump's…
Ukraine launches over 1,000 drones at Russia, setting oil facilities ablaze
At least one person has been killed, and five others injured after Ukraine launched more than 1,000 drones at Russia, one of Kyiv's largest aerial strikes in the war. St Petersburg Governor Alexander Beglov said firefighters were battling fires…
Chinese EVs racing into Gulf's oil-rich car market
The Gulf Cooperation Council, a bloc of oil-rich states long known for its appetite for imported cars, is becoming a growing market for Chinese electric vehicles (EVs) that are largely being blocked out of the West. Saudi Arabia, the United Arab…
Put the pedal down on electric trucks to dodge global oil shocks
Australia's energy transition has become a test of its energy security. With global fuel markets increasingly volatile, the pace of the transition will help determine how exposed Australian businesses remain to international energy shocks, and how…
Ukrainian Drone Strike Hits Putin's Hometown, Striking Oil Terminal
Ukrainian drones unleashed early Sunday the biggest attack on St. Petersburg since the start of the war, hitting a major oil terminal and other critical targets in Russian President Vladimir Putin's hometown following the collapse of a fragile…
Oil tanker on fire after hitting mine in Hormuz: Iran's Guards
TEHRAN — Iran's Revolutionary Guards said Monday an oil tanker caught fire in the Strait of Hormuz after hitting a mine, the latest such incident since Tehran tightened its grip of the waterway. Iran seized control of the strait after war…
My Costco price tracker is pretty stable, but big increases hit oil and protein
Like the proverbial pot that's been watched but won't boil, the Costco prices I've tracked this year have remained remarkably calm amid an economy full of heat. A basket of 45 items I'm following rose 3% since July, but that change is largely…
Week Ahead: Rates, AI, And Oil
The 30-day correlation between DXY and the US two-year yield fell to a seven-month low before the firmer than expected September CPI last week, slightly below 0.30. The semiconductor index finished at new lows since mid-September, and in what…
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