Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Aliko Dangote to launch Kenya oil refinery amid land protest in Lamu
Nigerian billionaire Aliko Dangote and Kenya's President William Ruto are set to break ground on a $16bn (£12bn) oil refinery in Lamu, on Kenya's northern coast. Upon completion, the refinery is expected to process 700,000 barrels of crude…
Aliko Dangote to launch Kenya oil refinery amid land protest in Lamu
Ondiro Oganga, Nkechi Ogbonna, Focus on Africa, Waihiga Mwaura, BBC Focus on Africa and Peter Mwangangi, BBC Africa Nigerian billionaire Aliko Dangote and Kenya's President William Ruto are set to break ground on a $16bn (£12bn) oil refinery…
Oil and gas industry expected surplus - but war brought shortage instead
In 2023, the International Energy Agency predicted that by 2028 the world's oil companies would produce more oil than people wanted to buy. Prices responded to that and similar projections of slowing oil demand, dropping too low to attract…
Customers in the South taking risks with heating oil orders, firm says
Heating oil customers who are worried about the cost are taking risks by delaying orders in the hope of a price fall, a firm has warned. Marsh Fuels, which supplies heating oil in Berkshire and Hampshire, said its sales were lower than expected as…
Stock Futures Rise as Oil Prices, Rate Hike Bets Ease
U.S. stock futures rose as market sentiment strengthened in early European trade, with investors checking expectations for near-term Federal Reserve rate hikes and bracing for inflation data later Wednesday. Oil prices extended recent declines on…
FTSE 100 falls as bond worries offset lower oil
News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The FTSE 100 fell sharply on Tuesday as US bond yields…
Asian Stocks Set for Rebound as Oil Prices Ease: Markets Wrap
Stocks in Asia were set for broad gains on Wednesday after oil prices fell, easing some pressure on markets as investors weighed the latest developments in the Middle East and the ongoing US-Iran stalemate. Equity-index futures pointed to gains in…
Big Oil can't hide behind the Clean Air Act
The first case that the Supreme Court will hear this term, Suncor v. Boulder, could have major consequences for state and local governments' ability to protect their residents from tortious conduct by corporations that are knowingly putting profits…
Mideast Crude Oil Flows Hit 98% of Pre-War Level, JPMorgan Says
Crude oil flows from the Middle East are almost back to pre-war levels despite continued risks to shipping, according to JPMorgan Chase & Co. “The Middle East's oil export arteries are flowing again,” analysts including Natasha Kaneva…
FTSE 100 falls as bond worries offset lower oil
The FTSE 100 fell sharply on Tuesday as US bond yields hit a 24-year high over fears that rising inflation will spark further interest rate hikes. In London, the FTSE 100 index ended down 48.17 points, 0.5%, at 10,636.71. The FTSE 250 rose 39.49…
Oil Prices Mixed, But Production Recovery May Weigh
0015 GMT — Oil prices are mixed in early Asian trade but may be weighed by signs of production recovery. Crude output from Saudi Arabia 's East-West pipeline is going through more swiftly than anticipated, analysts say. Saudi Arabia's…
Trump: US took record oil out of Strait of Hormuz
US President Donald Trump on Tuesday (local time) said Iran would 'give up' and claimed that the United States had taken more oil out of the Strait of Hormuz over the previous couple of days than at any point in history. Trump made the remarks…
Long-Term Treasury Yields Push Higher Despite Decline in Oil Prices
This is an edition of the Markets P.M. newsletter, a recap of the day's most important markets moves, delivered after the closing bell. If you're not subscribed, sign up here. Long yields rose again. Yields on benchmark 10-year Treasury notes…
Futures Rise As Oil Drops, Dragging Rates Lower
US equity futures have reversed earlier losses and trade in the green, near session highs, as bond yields drop across the curve, following a decline in oil which has also hit the dollar, despite lack of any tangible news out of Iran and as traders…
Markets Struggle As Treasury Yields Climb And Oil Slips
Bond yields edge up again. JOLTS and unemployment reports come out this week. Nvidia record buyback program juices shares. The three major indices are in negative territory in early trading after attempting to recover at least some of Monday's…
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