Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Flat Alongside Oil Futures -- Energy Roundup
Shares of energy companies were more or less flat, mirroring moves in U.S. oil futures. Gulf producers are increasingly looking to expand overseas storage to ensure crude continues to flow, as the Iran war poses risks to energy infrastructure and…
American Oil Giants See Profits Soar as Wars Crimp Energy Supplies
America's two biggest oil companies banked huge third-quarter profits, benefiting from the disruption in energy markets after drones took out major oil refineries in Russia and the Middle East. The fuel-making divisions at and turned in their…
ANZ Raises Oil Price Forecast as Market Tightens on Iran War
Oil-market balances are now more fragile than at the start of the Middle East conflict, and any flareup after the US midterm elections will push prices higher, according to ANZ Group Holdings Ltd. The bank now expects Brent to end the year at $105…
After His Iran War Triggered an Oil Crisis, Trump Blames Soaring Energy Prices on Climate Regulations
Fuel prices have exploded throughout the US since Donald Trump began his war on Iran. According to the Center for American Progress, gas and diesel prices are 43 and 68 percent higher, respectively, as of October 22 compared to when the war began…
BP reports soaring profits in 'obscene' sector haul amid oil price crisis
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. BP has revealed profits nearly quadrupled in the third…
BP profits jump as Middle East conflict drives up oil refining margins
BP has posted a jump in its quarterly profits as the war in the Middle East drove up oil and gas prices and led to “significantly higher” trading. The energy company said on Friday that third-quarter underlying…
Exxon and Chevron Beat Estimates as Oil Refining Profits Soar
ExxonMobil Holdings Corp. and Chevron Corp. beat profit expectations as conflicts in the Persian Gulf and Russia roiled energy markets, driving refining results to record highs. ExxonMobil's adjusted third-quarter earnings of $4.23 a share were 10…
Strong Earnings Mask Growing Struggle With Inflation, Oil Prices
At first glance, the third-quarter earnings season is going great. Overall earnings growth for the S&P 500 is tracking above pre-season estimates and 82% of companies have surpassed expectations, with over half of the benchmark's market…
AI Selloff Deepens, Oil Jumps and Crypto Falls
A selloff in artificial-intelligence stocks accelerated after a fresh batch of quarterly results rocked market confidence, as investors seeking a safe place to park their cash pushed Treasury yields to multiweek lows. Nasdaq futures fell more than…
BP reports soaring profits in 'obscene' sector haul amid oil price crisis
BP has revealed profits nearly quadrupled in the third quarter as it became the latest oil giant criticised for raking in “obscene” profits on soaring crude prices caused by the Iran war. The FTSE 100 firm said underlying replacement…
Milei's Voters Abandon Buenos Aires to Hunt for Jobs in Oil Country
Diego Esquivel heard the wild tales down south as his career mired in Buenos Aires. Big pay, breakneck growth and small businesses with so much money they didn't know what to do with it. He realized an energy boom in windswept Patagonia wasn't…
Consumer Cos Up Slightly as Oil, Inflation, Rate Fears Subside -- Consumer Roundup
Consumer companies rose slightly as oil futures and inflation concerns moderated. The core personal-consumption expenditures price index rose by 3.1% in September from a year earlier, according to the Commerce Department's Bureau of Economic…
'The $100 level is ours for awhile': Oil won't be getting cheap anytime soon, no matter what happens in the Gulf
The oil market didn't bat an eye after reports Thursday of tankers hit by mines in the Strait of Hormuz. The market may soon reach a point, however, where the dust finally settles enough to see the true chaos the eight-month-old conflict in the…
Nymex Overview: Oil, Diesel Retreat as U.S. Steps Up Diplomacy -- OPIS
Crude-oil and diesel contracts fell sharply as the latest diplomatic efforts by the Trump administration to engage Iranian hard-liners in peace talks eased worries over a possible war escalation. December Nymex West Texas Intermediate crude futures…
Trump touted a record Venezuela oil deal. Now reality is setting in
By Marianna Parraga, Mircely Guanipa and Mariela Nava HOUSTON/MARACAIBO, Venezuela, Oct 30 (Reuters) – President Donald Trump called it the biggest oil deal in history: 17 Venezuelan oilfields holding some 64 billion barrels of reserves…
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