Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Tourmaline Oil Corp. stock falls Friday, underperforms market
Shares of Tourmaline Oil Corp. TOU slid 2.59% to C$59.71 Friday, in what proved to be an otherwise all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.30% to 35,305.31. Tourmaline Oil Corp.
Iran conflict cuts global oil demand, the International Energy Agency says
Global oil demand is on track to post its first annual decline since the Covid-19 pandemic as the US-Iran war has severely disrupted Middle Eastern oil production and exports, the International Energy Agency (IEA) has said. The Middle East…
Oil's Calm Is Over as Middle East Risks Return
Renewed U.S.-Iran strikes have revived the Middle East risk premium, lifting Brent above $76 as traffic through the Strait of Hormuz slows and supply disruption fears return. The return of the Middle Eastern geopolitical risk premium has lifted…
EPA settles with Keystone Pipeline for $26M for Kansas oil spill
July 10 (UPI) -- The Environmental Protection Agency on Friday announced a $26 million settlement over a 2022 Kansas oil spill from the Keystone Pipeline. South Bow LP, the owner of the pipeline, agreed to pay the penalty and make $40 million in…
Oil Product Markets Are the Real Hormuz Pain Point
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, Europe oil markets team leader Alaric Nightingale looks at the persistent shortages in refined fuels in light of the Iran war. The…
Oil Prices Ease to End the Week
Benchmark crude futures settled Friday at $71.41 a barrel, down from a high around $76 reached on Wednesday when hostilities were escalating. The prospect of another round of peace talks pulled prices back 0.9% on Friday. For the week, they rose…
Global oil demand is dropping, but US drivers keep buying more gas
NEW YORK — Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency. The drop, which the agency expects to amount to about…
Delta says higher airfares expected to last despite drop in oil prices
Delta Airlines saidelevated airfares are likely to last despite a recent drop in oil prices, reporting strong appetite for travel and record-high revenue in its quarterly results Friday. Though the company had its highest quarterly fuel expense in…
Vanguard Buys Inflation-Protected Bonds on an Oil-Market Oddity
Unusual moves in an oil-market gauge are prompting Vanguard Asset Management Ltd. to buy insurance against stickier-than-expected US inflation. Gasoline prices have fallen, but they've failed to match the sharp slump in crude since the fragile…
Oil Tankers Still Cross Hormuz on Oman Side Despite Flare Up
At least two oil supertankers, both controlled by the same company, appeared to cross the Strait of Hormuz on a US protected route through the waterway, despite conflict reigniting in the region this week. The Nissos Kea popped up inside the…
Oil prices drift after unclaimed airstrikes - TT
A cargo ship is pictured off the Gulf of Oman on June 28. (AFP/Getty Images/Bloomberg) Oil prices are drifting toward a quiet finish to the week after earlier fireworks on worries about the war in Iran. A series of unclaimed airstrikes hit Iran…
Sinokor Oil Tankers Wait Near Saudi Arabia as Iran War Reignites
At least four oil supertankers controlled by South Korea's Sinokor Group are stationed near Saudi Arabia's main Persian Gulf export facility, vessels that may offer clues into shipowners' perceptions of the safety of the Strait of Hormuz after…
Surviving an Oil Spill in Louisiana, and More New Fiction for July
This month, we're reading novels about two communities—Cajuns in Louisiana and a Tamil immigrant family in Toronto—coping with the hardships of North American life. Stephanie Soileau (Doubleday, 336 pp., $30, July 2026) Stephanie…
Markets Wrap: Oil Rises, Tech Falters: What Investors Need to Know
Bloomberg senior reporter John Stepek is joined by co-editor of Bloomberg's Markets Today blog, Morwenna Coniam to discuss the ever changing status of the Iran ceasefire and the resulting impact on oil prices and bond yields. They also highlight…
Oil Softens, U.S. Tech Futures Lower Ahead of SK Hynix Float
U.S. stock futures were mostly lower in early European trade, while oil continued to pull back from its midweek spike following reports that peace talks between the U.S. and Iran are continuing. Nasdaq futures were lower and European technology…
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