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 Trump Corruption Tax on the Oil Industry
May 13, 2026 Dean Baker Since Trump began his war on Iran, there have been a number of occasions where the price of oil futures tumbles just before Trump issues one of his “peace is at hand” proclamations on Truth Social. These drops…
The King's speech contained a huge bit of news for the North Sea oil industry
Proponents argue for a scrapping of the windfall tax on fossil fuel companies to open up investment, and for new licences to be granted for untapped fields. Opponents say a 'just transition' away from what is a finite resource is needed to avoid…
Energy Up with Oil Futures as Stalemate Continues -- Energy Roundup
Shares of energy companies rose alongside oil futures with no end to the energy shock in sight. Oil futures rose by more than 4% in New York to top $102 a barrel after statements from President Trump indicated a cease-fire between the U.S. and Iran…
Oil Prices Drive Inflation Above Wages: A Blip, Not A Trend
Man pumping gasoline, checking prices. The increase in consumer prices exceeded wage growth over the past 12 months, with near panic from some reporters. The numbers show wages rose 3.6% but consumer prices increased by 3.8%. This disparity is a…
Watch Oil Inventories Falling at 'Record Pace' Amid Hormuz Disruption, IEA's Toril Bosoni Says
IEA's Bosoni Says Oil Inventories Falling at 'Record Pace' International Energy Agency oil industry and markets head Toril Bosoni discusses the outlook for oil supplies and prices amid the ongoing disruption in the Strait of Hormuz. Inventories are…
Watch Oil Inventories Falling at Record Pace, Warns IEA | The Pulse 05/13/2026
Oil Inventories Falling at Record Pace, Warns IEA | The Pulse 05/13/2026 'The Pulse With Francine Lacqua' is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London…
Iran War Is Going to Make Oil Changes More Expensive - TT
Workers inspect vehicles at an oil change location in Indianapolis. (Luke Sharrett/Bloomberg) The Iran war is throwing a niche corner of the oil market into disarray as fallout from scrambled supply chains for the commodity reaches all the way to…
How Long Can the US Be the Oil Supplier of Last Resort?
What do the Federal Reserve and the US oil industry have in common? In today's war-torn market, both are the supplier of last resort. One provides dollars; the other barrels. But that's where the similarities end. The central bank can print the…
How the US and China's oil markets are 'shielding' the world economy from spiraling prices
Oil prices are high, but they haven't quite gone parabolic s ince the Iran war began. Morgan Stanley strategists said there's structural support from the US and China that's helped anchor oil prices and prevent them from rising to levels predicted…
Japan to procure 70% of its oil for June from outside Middle East
Japan is expected to secure over 70% of its crude oil procurement in June from sources other than the Middle East, Prime Minister Sanae Takaichi said Tuesday. At a meeting of related ministers on the day, Takaichi instructed industry minister…
Global oil supply to plunge below demand this year due to Iran war, IEA says
Global oil supply will not meet total demand this year as the Iran war wreaks havoc on Middle East oil production, the International Energy Agency said in its monthly oil market report on Wednesday. SCROLL TO CONTINUE WITH CONTENT The US and…
The global oil crisis is proving the case for sustainable aviation
As the conflict in Iran strains the world's oil supplies, a lot of attention has focused on gasoline: Average gas prices have increased more than a dollar a gallon since the war began, exceeding $4 a gallon for the first time in four years. But…
Tourmaline Oil Corp. stock rises Tuesday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.82% higher to C$66.41 Tuesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.44% to 34,290.73. Tourmaline Oil Corp.
The Iran War Is Going to Make Your Car's Oil Change More Pricey
The Iran war is throwing a niche corner of the oil market into disarray as fallout from scrambled supply chains for the commodity reaches all the way to the automotive maintenance and industrial sectors. Energy inflation is rippling through the US…
Hormuz Oil Flows Fell Nearly 30% in Q1, EIA Says - TT
Boats travel near the seafront on Qeshm Island, Iran, in the Strait of Hormuz. (Getty Images/Bloomberg) Flows of crude oil and fuels through the Strait of Hormuz fell by nearly 6 million barrels per day in the first quarter of 2026, the start of a…
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