Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Global South race toward green energy amid oil shocks
The US-Iran conflict, alongside subsequent oil price spikes, is forcing developing countries like Nigeria and Sri Lanka to rapidly overhaul their energy strategies. Both nations are increasingly leaning on solar power despite significant financing…
Oil Declines on Likely Technical Correction
0211 GMT — Oil prices decline in Asian trade on likely technical correction after Brent futures ended last week at the highest level since April this year. The increase in Brent oil futures last week reflected growing supply fears, says…
US Equity Futures Climb as Crude Oil Price Dips: Markets Wrap
US equity-index futures advanced and crude oil retreated after a volatile week, with investors bracing for megacap earnings that will test the artificial intelligence trade and key central bank decisions. Nasdaq 100 Index futures rose 0.5% and…
Singapore to Store Saudi Oil in Underground Caverns From 2027
Singapore will store Saudi Arabian oil in caverns in the city-state from the second half of next year, part of a plan by the kingdom to cope with disruptions from the US-Iran war. The crude will be held in the Jurong Rock Caverns, in a…
Shares fall in Asia after a decline on Wall Street, and oil prices fall more than 1%
Shares were mostly lower Monday in Asia and oil prices fell after rising last week to their highest level in more than four years. Analysts said investors were bracing for earnings reports of big companies and central bank decisions this week that…
Exclusive | Death Threats, Lawsuits and Billions in Play: The Battle Over Moving Russian Oil
In a rare legal fight, a former Russian energy industry insider has sued sanctioned oil traders who, according to Western officials, have become the most important middlemen enabling Moscow to sell its oil and fund its war in Ukraine. Igor Soglayev…
Saudi Arabia to store crude oil in Singapore to bolster Asia supply security
Saudi Arabia plans to store crude oil at Singapore's Jurong Rock Caverns from the second half of 2027 to strengthen supply security in the region, energy ministers from both countries said on Monday. SCROLL TO CONTINUE WITH CONTENT The move comes…
Live: Wall Street retreats as oil prices continue to rise, ASX set to slip
ASX 200 futures: -0.5% at 8,774 points ASX 200 (Friday): flat at 8,795 points Australian dollar: +0.2% to 70.33 US cents Wall Street (Friday): S&P 500 -0.5%, Dow -1.2%, Nasdaq -0.2% Europe (Friday): Dax -0.8%, FTSE -0.3%, Eurostoxx600 -0.3% Spot…
China-Myanmar crude oil pipeline delivers over 100 million tons, helping bolster energy security
An aerial view of an oil storage facility featured in a CCTV News report on the China-Myanmar crude oil pipeline on October 26, 2026. Photo: Screenshot from CCTV News The China-Myanmar crude oil pipeline has transported more than 100 million tons…
US military says it helped Gulf states export 1.5 billion barrels of oil
US military forces have helped Gulf countries export more than 1.5 billion barrels of oil since June, despite Iran's efforts to control the critical waterway, according to US Central Command (COMMAND). The US military command said on Sunday that…
Le Pen vows to revive oil prospecting in France, calling 2017 ban 'stupid'
Far-right presidential candidate Marine Le Pen vowed Sunday to allow France to prospect for oil again on its territory if she is elected in May, a proposal reminiscent of U.S. President Donald Trump 's “drill, baby, drill ' policy to speed…
Shares fall in Asia after a decline on Wall Street, and oil prices fall more than 1%
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ASX set to fall, Wall Street loses ground as oil prices rise
Stocks on Wall Street closed broadly lower as oil prices climbed to their highest level in more than four years, ratcheting up pressure on the market. The S&P 500 fell 0.5 per cent, adding to its decline from a day before. The index posted its…
'We're Making a Freaking Fortune': Trump Cheers Oil Profits Amid Gas Price Surge
For millions of Americans, filling up the gas tank has become an increasingly painful expense. On Saturday, however, President Donald Trump found plenty to celebrate in soaring fuel prices. Conflating the enormous profits of oil and gas companies…
Oil prices down almost $1 in early trading
By Thomson Reuters Oct 25, 2026 | 7:24 PM BEIJING, Oct 26 (Reuters) – Oil prices lost nearly $1 on Monday after the market opened, falling back from their highest in nearly six months. U.S.
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