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 oil market has moved from fearing shortages to pricing in a very different future
The oil market has gone from fearing a supply shock to worrying about too much crude. International Brent crude oil futures were trading around $73 a barrel early on Tuesday. That is roughly back to prewar levels after topping $126 in April as the…
Why oil prices are stabilizing
Every tit for tat missile strike between the U.S. and Iran matters only if traders believe a significant volume of oil will be permanently removed from the global market. As dramatic as the headlines may be, oil traders are increasingly convinced…
Current price of oil as of June 29, 2026
As of 8:50 a.m. Eastern Time today, oil sold for $74 per barrel (using Brent as the benchmark, which we'll get into momentarily). That's 15 cents lower than yesterday morning and approximately a $6.67 rise over the past year. It's impossible to…
India Plans to Cut Reliance on Middle East Oil After War Shock
India's state oil refiners are planning to reduce their reliance on the Middle East following the supply shock of the Iran war, and will lean more heavily on alternative options including through spot-market purchases, according to people familiar…
Growing Oil Glut Spurs Asian Refiners to Offer Cargoes to the US
Oil output from Persian Gulf nations is ramping up so quickly as the Strait of Hormuz reopens that Asian refiners, already adequately supplied, are pushing some crude to destinations as far afield as California. While Asia is typically the biggest…
Is coconut oil a weight loss miracle? Doctor debunks 3 myths
In recent years, Hong Kong has seen a surge in trends like 'drinking oil for weight loss' and the 'ketogenic diet.' Many people eager to lose weight quickly blindly follow online fads, consuming a large spoonful of oil on an empty stomach every…
Goldman says the Iran oil crisis is a preview of commodity shocks to come
Goldman Sachs says the era of commodity shocks will stick around even after the historic Iran war oil disruption fades into memory. In a note on Sunday, Goldman analyst Samantha Dart and her team wrote that they see a market in which commodity…
Morgan Stanley Cuts Oil Forecasts on Fast Return of Hormuz Flows
Morgan Stanley cuts its oil price forecasts as flows through the Strait of Hormuz return faster than expected, while strong US supply and weak Chinese demand increase the risk of a surplus. The bank lowered its third-quarter 2026 Dated Brent…
Indian Stocks Beat Emerging Peers, Rupee Rebounds as Oil Slides
Indian markets are recovering after months of weakness, with stocks outperforming emerging-market peers, the rupee among Asia's best-performing currencies and foreign demand for bonds surging. The NSE Nifty 50 Index climbed 1.7% in June while the…
To Protect Its Drinking Water, This City Has to Appeal to the Oil Regulators That Put It at Risk
Preventing Water Pollution: Oklahoma restricts oil field wastewater injection within a half-mile of public water wells to protect against pollution. Regulators have let companies do it anyway. Ignoring Its Own Rules: The Frontier and ProPublica…
Asian shares mostly higher tracking Wall Street gains and oil stabilizes
Asian shares were mostly higher on Tuesday tracking Wall Street gains, with South Korea's stock market rebounding after sharp losses on a tech sell-off. Oil prices stabilized after the U.S. and Iran said separately they would send delegations to…
U.S. crude oil hovers above $70 as Trump, Iran issue mixed messages on talks in Qatar
Oil prices were mixed as traders focused on the prospect of fresh talks between the U.S. and Iran in Doha. Trump has said talks will take place in Qatar's capital on Tuesday, although a spokesperson for Iran's Foreign Ministry has denied this. The…
Oil Markets Are Pricing A Supply Surge That Isn't Guaranteed
Oil prices are tumbling as tankers stream out of the Strait of Hormuz, but most of that traffic is stranded vessels finally allowed to leave, not new supply heading in. Iran struck a commercial ship near Oman this week even as the 60-day U.S.-Iran…
Oil Falls on Possible Position Adjustments Before Expected U.S.-Iran Talks
2346 GMT — Oil falls in early Asian trade on possible position adjustments. U.S. President Trump said on social media Monday that Iran had requested a meeting and that the meeting would take place in Doha on Tuesday. However, oil-price…
Another Russian Oil Refinery in Flames
Last week I highlighted a video showing a line of thousands of cars waiting in a 10 kilometer long backup as people try to get out of Crimea. Those people would eventually cross the Kerch bridge and then continue east where they would pass through…
Receive a Daily briefing on Oil Industry News
Get Started