Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Goldman Flags Risk of $120 Oil If Mideast Ship Attacks Intensify
Oil may rally to as much as $120 a barrel if attacks on shipping in the Middle East increase, according to Goldman Sachs Group Inc., which recommended bets on natural gas and diesel as a way to capture gains. “Events over the last few days…
Oil Edges Higher on Renewed Middle East Tensions: Markets Wrap
Asian stocks rose after US technology shares advanced on Friday. Oil climbed after the US and Iran traded tanker attacks in the Strait of Hormuz. Benchmark indexes in Japan and South Korea both gained, while those for Australia were little changed.
ASX LIVE: Australian shares set for a cautious start as oil pushes above $US96; energy stocksk in focus, $A at US72¢.
Go to latest Fresh military strikes between the US and Iran over the weekend threaten to push up energy prices and drag down the Australian sharemarket as investors brace for higher interest rates. At the close of Friday's trading, ASX 200 futures…
Oil extends gains after US and Iran strike ships
SINGAPORE, Sept 7 (Reuters) - Oil prices extended gains on Monday as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the…
Oil Majors Seek Bigger Bargaining Power in Labor Disputes
The biggest oil companies in the United States are playing hardball in unionized labor negotiations in a bid to get more concessions from workers' unions in the new contracts. Over the past few years, some of the top U.S. refining companies have…
Oil Rises Amid Escalation in U.S.-Iran Conflict
2334 GMT — Oil rises in early Asian trade amid an escalation in the U.S.- Iran conflict that could increase supply disruptions in the Middle East. The U.S. military said it struck three Iranian oil tankers on Saturday after Iran launched…
JGBs Edge Lower Amid Rising Oil Prices
0016 GMT — JGBs edge lower in price terms amid rising oil prices that typically lead to higher inflation in Japan, which could spur a quicker pace of BOJ rate increases. “The key question is whether markets bring forward the BoJ…
OPEC+ keeps oil output policy unchanged for October
Sarote Pruksachat | Moment | Getty Images OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday, it said in a statement, as the producer group needs to agree on new quotas before deciding its next output steps. The…
Peso Left Behind in Asia as Oil Shock Erodes Dollar Reserves
The Philippine peso just can't catch a break. In a quarter when all its emerging-market Asian peers advanced against the dollar, the peso fell. It's down 6.2% this year, and is the region's worst-performing currency.
Bessent predicts oil prices could drop as low as $40 after Iran conflict ends and supply floods market
Treasury Secretary Scott Bessent predicted oil prices could fall to between $40 and $50 per barrel once the Iran conflict ends, arguing that abundant supply is poised to hit the market after constraints ease. Bessent asserted that the American…
EM Stocks Jump to 2-Month High as Tech Rally Offsets Higher Oil
Emerging-market equities rallied at the start of the week as optimism over new AI models boosted heavyweight tech stocks, helping counter the drag on sentiment from higher oil prices. MSCI's gauge for developing-nation equities climbed as much as…
Oil Rises as Escalating U.S.-Iran Conflict Stokes Supply Disruption Fears
Oil prices climbed in Asian trade Monday morning as escalating tensions in the U.S.- Iran conflict stoked concerns over potential supply disruptions in the Middle East. The U.S. military said it struck three Iranian oil tankers on Saturday after…
Oil Surged, Then Slumped, Year to Date in 2026. Here's My Prediction for What's Ahead.
Brent crude, the global benchmark for oil, started the year at roughly $60 a barrel. Then the geopolitical conflict in the Middle East broke out, pushing crude oil prices to nearly $140 a barrel. After that spike, oil cooled off, losing around half…
OPEC+ set to keep oil output policy unchanged on Sunday, sources say
OPEC+ is set to keep its oil output policy unchanged for October at a meeting on Sunday, two people familiar with the discussions told Reuters, as the producer group needs to agree new quotas before deciding its next output steps. SCROLL TO…
US and Iran trade attacks on oil tankers
The US and Iran traded strikes on oil tankers over the weekend, intensifying pressure on energy flows through the Strait of Hormuz. As Washington steps up its campaign to obstruct Tehran's oil exports, the US struck Iranian tankers Saturday, with…
Receive a Daily briefing on Oil Industry News
Get Started