Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Global South race toward green energy amid oil shocks
The US-Iran conflict, alongside subsequent oil price spikes, is forcing developing countries like Nigeria and Sri Lanka to rapidly overhaul their energy strategies. Both nations are increasingly leaning on solar power despite significant financing…
This Texas startup is turning oil well waste into EV batteries
Across the Permian Basin, the vast, mineral-rich swath of land in West Texas that supplies much of the nation's crude oil, derricks pump out massive amounts of oil, roughly 6 million barrels a day. But that amount pales in comparison with the…
Oil Declines on Likely Technical Correction
0211 GMT — Oil prices decline in Asian trade on likely technical correction after Brent futures ended last week at the highest level since April this year. The increase in Brent oil futures last week reflected growing supply fears, says…
Gold gains on softer oil prices; Fed decision in focus
Gold edged higher on Monday as softer oil prices tempered inflation concerns, while investors awaited the Federal Reserve's policy decision later this week. SCROLL TO CONTINUE WITH CONTENT Spot gold rose 0.4 percent to US$4,010.51 per ounce by 0544…
US Equity Futures Climb as Crude Oil Price Dips: Markets Wrap
US equity-index futures advanced and crude oil retreated after a volatile week, with investors bracing for megacap earnings that will test the artificial intelligence trade and key central bank decisions. Nasdaq 100 Index futures rose 0.5% and…
Saudi Arabia to store crude oil in Singapore to bolster Asia supply security
Saudi Arabia plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027 to strengthen supply security in the region, energy ministers from both countries said on Monday. SCROLL TO CONTINUE WITH CONTENT The move comes…
Asia Pays Top Dollar For Canadian Oil Amid Slump in US Prices
Canadian heavy crude is fetching near-record premiums across the Pacific, bolstering the case for the country's plan to build a new pipeline to its west coast. A barrel of Canadian Cold Lake crude delivered to South Korea traded at a record $9.50 a…
Singapore to Store Saudi Oil in Underground Caverns From 2027
Singapore will store Saudi Arabian oil in caverns in the city-state from the second half of next year, part of a plan by the kingdom to cope with disruptions from the US-Iran war. The crude will be held in the Jurong Rock Caverns, in a…
Oil Prices Fall as Traders Weigh U.S.-Iran Diplomacy, Saudi Attacks
Oil prices fell Monday, pulling back from recent highs as traders weighed diplomatic efforts to ease U.S.- Iran hostilities against renewed Houthi attacks on Saudi Arabia and persistent Middle East supply risks. December Brent crude futures fell…
Chart Of The Day: Oil - Are New Highs Inevitable? (Technical Analysis)
The MoneyShow Chart of the Day shows the trading action in WTI futures over the past year. After the initial war-driven surge, oil round-tripped to its breakout level in July. That technical test was successful - and oil has stair-stepped higher…
Shares fall in Asia after a decline on Wall Street, and oil prices fall more than 1%
Shares were mostly lower Monday in Asia and oil prices fell after rising last week to their highest level in more than four years. Analysts said investors were bracing for earnings reports of big companies and central bank decisions this week that…
Exclusive | Death Threats, Lawsuits and Billions in Play: The Battle Over Moving Russian Oil
In a rare legal fight, a former Russian energy industry insider has sued sanctioned oil traders who, according to Western officials, have become the most important middlemen enabling Moscow to sell its oil and fund its war in Ukraine. Igor Soglayev…
The oil risk premium shoots up
Oil prices are back to the high levels of March as investors price in the growing risk that the Iran war will escalate. Why it matters: Higher energy prices ripple through the entire economy, pushing up inflation. The recent rise in oil has also…
Oil slides over 2% as traders weigh Saudi attack risks, demand destruction
Oil fell as investors weighed the threat of further attacks on Saudi Arabian energy infrastructure against concerns that elevated prices could eventually erode demand. The pullback followed a sharp rally on Friday after attacks by Yemen's Houthi…
US stock futures edge up as oil falls heading into earnings barrage
Oct 26 (Reuters) – US stock index futures ticked higher on Monday as crude oil prices retreated from last week's surge, lifting sentiment at the start of a week dominated by corporate earnings and the Federal Reserve's interest-rate…
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