Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Shares fall as oil surge fuels inflation fears
News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Stock prices in London closed lower on Thursday, as oil…
Oil Climbs as Markets See a Long Iran War
Oil landed just short of $109 a barrel late Thursday afternoon, some $8 higher over yesterday as markets see the intractability of the US-Israel war with Iran — given Donald Trump's inability to extract his country and Iran's unwillingness…
Oil price forecasts climb as Wall Street gives up on a quick end to the global oil shock
Around the time Ben Shelton was polishing off his US Open victory over Carlos Alcaraz in the wee hours of Wednesday morning, the price of oil was making some waves of its own, climbing back above $100 per barrel. The break into triple digits was…
Trump's Venezuela oil venture eyes 150% output hike by 2028 - TT
Petroleos de Venezuela SA oil rigs on Lake Maracaibo in Cabimas, Zulia state, Venezuela, on Sept. 4. (Gaby Oraa/Bloomberg) North American Blue Energy Partners plans to raise Venezuelan crude output to 500,000 barrels a day by the end of 2028 from…
NYMEX Overview: Oil Futures Surge Above $100 on Gulf Supply Risks -- OPIS
Oil futures surged midday Thursday as escalating attacks on Gulf shipping and renewed Houthi strikes on Saudi Arabia heightened concerns over disruptions to global energy supplies. Both crude benchmarks crossed $100/bbl on Thursday, West Texas…
Exclusive | The Relentless Crypto Billionaire Who Moved to Venezuela in Pursuit of Oil
Cryptocurrency billionaire Fred Ehrsam spent months living in a luxury hotel in Caracas, building a rolodex of connections in a long-shot bid to become one of Venezuela 's biggest oil producers. Without a track record in oil and gas, the…
Asian Stocks, Bonds to Drop on Oil, Inflation Woes: Markets Wrap
Asian stocks and bonds were set for declines after a surge in oil prices sparked a selloff in US markets, while the latest inflation data reinforced bets on an imminent Federal Reserve rate hike. Brent crude climbed above $107 a barrel on Thursday…
Iran-backed Houthis capture Red Sea port, putting more pressure on oil markets
Yemen appears to be sliding back toward all-out war after Houthi rebels backed by Iran seized the key port city of Mokha from allies of the internationally recognized government. Mokha sits on the Bab al-Mandab, a critical shipping choke point and…
$100 oil is putting China's new role as a 'demand-side OPEC' to the test
Oil is back above $100 a barrel as renewed fighting between the US and Iran raises fears of further supply disruptions in a market already hit by the largest oil supply disruption in history. International benchmark Brent crude breached $100 a…
Shares fall as oil surge fuels inflation fears
Stock prices in London closed lower on Thursday, as oil prices surged above 105 dollars and hotter-than-expected US producer inflation fuelled concerns, while the European Central Bank raised interest rates as expected. The FTSE 100 index closed…
Global bond sell-off resumes as surging oil prices stoke fears about inflation
Nervous investors across big economies have been dumping government bonds, driving up the cost of borrowing, as surging oil prices amplified fears about rising inflation. The cost of a barrel of oil jumped 6% to above $107 on Thursday amid concerns…
US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb
WASHINGTON (AP) — Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war keep costs elevated. The Labor Department's producer price index — which captures…
Oil, gas and borrowing costs surge as fears over Middle East escalate
Theo Leggett Business correspondent The price of oil has jumped to $105 a barrel amid signs the conflict in the Middle East will not be resolved quickly, fuelling fears that inflation could accelerate. With the conflict between the US and Iran in…
Buy now or wait and hope? Families face gamble on heating oil
As the summer draws to a close, families who rely on fuel oil to heat their homes are facing a dilemma. The price has almost doubled over the past year, following the outbreak of conflict between the US and Iran. It has left people wondering…
Buy now or wait and hope? Families face gamble on heating oil
Jake Zuckerman BBC East Yorkshire & Lincolnshire As the summer draws to a close, families who rely on fuel oil to heat their homes are facing a dilemma. The price has almost doubled over the past year, following the outbreak of conflict between the…
Receive a Daily briefing on Oil Industry News
Get Started