Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Indonesia Eyes Guyana and Suriname Oil Investments for Energy Security
Indonesia's national energy company Pertamina is considering upstream investments in Guyana and Suriname to diversify Indonesia's oil and gas supply and boost energy security, the Indonesian government has said. 'Pertamina has already initiated…
MBS and Saudi Arabia face crisis with key oil pipeline shut for weeks
The U.S.-Iran war has reached crisis point for Saudi Arabia and its de facto leader, Crown Prince Mohammed bin Salman. The kingdom was spared the worst of the Islamic Republic's counterstrikes against the U.S. and Israel early in the conflict, and…
Trump sold out Venezuelan freedom for oil money America will never see
The agreement gives the U.S. control over some 65 billion barrels of Venezuelan crude — nearly a fifth of Venezuela's massive oil reserves. In exchange, the Venezuelan regime will receive an estimated $200 billion in royalty and tax payments…
PXJ ETF: A Good Choice For An Oil And Gas Services Investment (NYSEARCA:PXJ)
Managing Director, Boslego Risk ServicesHarvard College, Economics (Honors), BA Undergraduate thesis: 'OPEC Pricing Strategy.' Harvard Business School Case Study: 'Industrialized World and Oil.'Stanford University Graduate School of Business, MBA I…
Saudi Pipeline Shutdown Threatens South Korea's Oil Supplies
Anchor: A recent drone attack shutting down a key Saudi oil pipeline has compounded global energy shortages triggered by the blocked Strait of Hormuz. This disruption directly threatens South Korea, which relies on Saudi Arabia for one-third of its…
Bond yields are spiking, oil is up - but investors aren't giving up on stocks
The 10-year Treasury yield crossed 5% as higher rates and geopolitical risks added to market volatility. But Bank of America's latest fund manager survey showed investors remained overweight global equities and optimistic about earnings. BlackRock…
Wall Street ends lower as oil spikes and the benchmark Treasury yield breaches 5%
Wall Street extended its selloff on Tuesday, as rising U.S. Treasury yields, mounting debt concerns and soaring crude prices kept buyers on the sidelines. SCROLL TO CONTINUE WITH CONTENT All three major U.S. stock indexes extended Monday's losses…
JPMorgan says the US economy can withstand surging oil prices
Surging oil prices have long been anathema to markets and the economy, but the latest shock may not matter as much this time around, JPMorgan Private Bank says. Oil spiked back back above the $100-a-barrel mark last week, an important psychological…
US borrowing costs hit highest level since 2007 as oil jumps
US government borrowing costs climbed to their highest level since 2007 after a jump in oil prices further fuelled concerns about inflation. The effective interest rate on US government bonds over 10 years, known as the 10-year Treasury yield, rose…
Oil Declines But Remains Elevated Amid Supply Concerns, Geopolitical Risks
0030 GMT — Oil declines in early Asian trade but remains above $100 a barrel as the Middle East conflict continues to squeeze supply. A particularly strong combination of geopolitical risks and physical supply disruptions continues to…
Japan records a trade deficit for 4th month as oil imports soar
Japan's trade deficit totaled 1.1 trillion yen ($7 billion) last month as surging oil prices due to the conflicts in the Middle East sent the cost of imports soaring. It was the fourth straight month of red ink, according to the Finance Ministry's…
Futures Drop As Yields, Oil Prices Keep Rising
Futures are lower - but well off session lows thanks to some well-time oil sell orders just before US traders walked in to work - as bond yields continue to make new highs, with both Nasdaq and Russell lagging the S&P which feels like more…
Oil squeeze tightens as Iran-backed attacks cripple Hormuz escape routes
The U.S. is choking off Iran's oil exports through the Strait of Hormuz. But the routes meant to shield other Gulf producers from that disruption are now coming under pressure themselves. A drone attack last week badly damaged Saudi Arabia's…
How Long Will It Take to Repair That Saudi Oil Pipeline?
A few days ago Iranian backed militants operating in Iraq used drones to bomb a crucial Saudi oil pipeline that carries oil east and west across the country. That pipeline has been critical this summer because it allowed the Saudis to avoid the…
US borrowing costs hit highest level since 2007 as oil prices jump
Francisco Velasquez Business reporter, New York US government borrowing costs climbed to their highest level since 2007 after a jump in oil prices further fuelled concerns about inflation. The effective interest rate on US government bonds over 10…
Receive a Daily briefing on Oil Industry News
Get Started