Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Is Trump coming for oil industry profits?
President Donald Trump returned to office last year promising to unleash fossil fuels to power U.S. energy production. But the Iran war has sparked months of persistently high gasoline prices, threatening GOP fortunes in the midterm elections, and…
Brittany Kelm, White House energy aide, takes oil-industry job
Brittany Kelm, one of the White House's senior energy advisers, is leaving to work for Sable Offshore, a small oil company with a big political footprint. Why it matters: Sable Offshore was at the center of a dispute between California and the…
How our food became so dependent on oil
Global food prices have hit their highest level in over three years. We are told this is due to rising oil and energy costs, but how exactly do they affect prices? The most reported reason is that transport and fertiliser are to blame, but the…
I'm Bullish On Energy Without Relying On Oil Prices (NYSEARCA:XLE)
Energy sector returns have been driven by supply disruptions, but future demand from AI-driven data centers supports sustained infrastructure volume growth. the Global X MLP & Energy Infrastructure ETF (MLPX) offers efficient exposure to midstream…
Oil prices decline as IEA forecasts a decline in demand
Aug. 13 (UPI) -- The price of crude oil was on the decline on Thursday after the International Energy Agency projected a decline in demand later this year. Brent crude oil prices, the international benchmark, fell by 45 cents to $88.53 per barrel…
Oil Edges Lower Amid Mixed Signals
2335 GMT — Oil edges lower in early trade amid mixed signals. On one hand, there are signs of oil flows rising, ANZ Research analysts say in a research report. “Persian Gulf producers such as the U.A.E. and Saudi Arabia are said to be…
Nymex Overview: Oil Futures Retreat on Demand Concerns, U.S. Stock Build -- OPIS
Crude oil futures retreated midday Thursday amid concerns over weaker global demand and a large U.S. crude inventory build, while ongoing disruptions to traffic through the Strait of Hormuz continued to support prices. As of 11:40 a.m. ET, the…
Hormuz Stalemate Raises Risk of $120 Oil
For months now, traders and market analysts have had to weigh two opposing scenarios for oil prices—the ongoing war and severely disrupted oil flows at the Strait of Hormuz and hopes that a U.S.-Iran deal would free up millions of barrels of…
Iraq Says Abu Dhabi's Adnoc Among Buyers of Its Oil
Iraq's oil marketing company said Abu Dhabi's main energy company was among firms buying its crude and sending cargoes out through the Strait of Hormuz. “Adnoc is one of the buyers SOMO deals with,” along with other companies, Ali…
Ukrainian drones strike major oil refinery deep inside Russia, setting it ablaze
KYIV, Ukraine (AP) — Ukrainian drones struck a major refinery deep inside Russia, military officials said Thursday, the fourth in three days in Kyiv's ongoing campaign to choke Moscow's vital oil sector. Russia is one of the world's biggest…
For the Oil Market, the Strait of Hormuz Isn't Closed
'In price, is knowledge,' is an old market saying. So what is the oil price telling us? At less than $90 a barrel, it isn't screaming shortage. How so amid the Iran war? The release of strategic reserves is helping, as are bypass pipelines around…
Oil falls on weaker demand outlook and higher US stocks
LONDON, Aug 13 (Reuters) - Oil prices declined on Thursday as investors assessed prospects for weaker global demand this year and higher U.S. crude stocks, though prices found support from a lack of progress in talks over the blockaded…
Stocks rise as traders reduce rate hike bets, oil prices drop
By Chris Prentice and Stefano Rebaudo NEW YORK/MILAN, Aug 13 (Reuters) - Stocks rose on Thursday as investors pared back U.S. rate hike bets, while oil prices dropped as higher inventories and lower global demand forecasts offset geopolitical…
Giant Oil Tanker Runs Aground in Marine Nature Preserve, Spills Nonstop for Weeks
Can't-miss innovations from the bleeding edge of science and tech When an oil tanker runs aground in a contested war zone, does it make a sound? Evidently not — at least not the kind of sound anyone could hear for over six weeks, the amount…
Oil Holds Drop as Hormuz Deal Elusive While Ship Attacks Persist
Oil held a decline as traders monitored efforts toward a deal that could reopen the Strait of Hormuz, while fresh attacks on tankers and energy infrastructure kept the market on edge. West Texas Intermediate traded near $81 a barrel after closing…
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