Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Up Slightly as Oil Prices Level Off - Energy Roundup
Shares of energy companies rose slightly as oil futures levelled off somewhat. Oil futures fell 0.9% to $86.04 a barrel in New York, and are now down by 24% from their April peak. President Trump said that further strikes on Iran would not be…
Second Peruvian anchoveta season canceled: What are the implications for the fish oil industry?
Last month, Peru's Ministry of Production (PRODUCE) announced it would not authorize a second anchovy season, prompting the Global Organization for EPA and DHA Omega-3s (GOED) to renew calls for brands to diversify their product portfolios and…
Oil Prices: A Boost for Nigeria's Economy or Setback for Energy Transition?
LAGOS, Nigeria — It was a sultry afternoon at a carpark in Lagos, southwestern Nigeria. The morning rain had left parts of the carpark waterlogged, forcing bus drivers to perch on the few dry patches they could find. With rising gasoline…
New regulation for heating oil market, but no price controls
Economics and business editor, BBC News NI Home heating oil suppliers in Northern Ireland will face stricter regulation in the wake of an inquiry by the UK's competition watchdog. However it will not include the sort of price controls applied to…
NYMEX Overview: Oil Futures Extend Losses on Hopes for Iran De-Escalation -- OPIS
Refined product futures also traded lower. The December ULSD contract was down 10.08cts at $4.114/gal, while January dipped 9.15cts to $4.0198/gal. December RBOB fell 2.89cts to $2.622/gal, with the January contract down 2.53cts at $2.583/gal.
South Korean firms back $272M expansion of UAE oil field
Nov. 9 (Asia Today) -- An oil field in the United Arab Emirates jointly developed by South Korea's Korea National Oil Corp. and GS Energy is moving forward with a $272 million infrastructure expansion aimed at supporting long-term crude oil…
UK and Argentina clash over Falklands oil project as Hamburg tribunal starts
Argentina has told an international tribunal that Britain's approval of oil drilling off the Falkland Islands has dramatically deepened a sovereignty dispute that led to war four decades ago. At the start of an historic legal clash at the…
Asian Airline Stocks Rally as Oil Prices Retreat
Prospects of lower jet-fuel costs drove gains in aviation stocks across the region. In South Korea, shares in the country's top flag carrier Korean Air Lines and its budget-airline affiliate Jin Air surged as much as 13% and 28%, respectively, in…
Angola's Bonds Lead Retreat Among Emerging-Market Oil Producers
Angola 's eurobonds led the retreat among frontier and emerging market oil-producers after Brent crude tumbled below $90 a barrel for the first time since August. Angola's securities fell across the curve. At least seven dollar-denominated notes…
Trump admin pouring $480M loan into Gulf of America oil and gas project
The Energy Department is touting a $480 million loan meant to help boost oil and natural gas production in the Gulf of America. 'The U.S. Department of Energy's (DOE) Office of Energy Dominance Financing (EDF) today announced the financial close of…
Gas, oil prices fall on anticipation Iran war may be coming to an end
Nov. 10 (UPI) -- Gas prices at the pump fell below $4 per gallon Tuesday, their lowest level since July, on the back of a drop in global oil prices after President Donald Trump said further strikes on Iran were 'highly unlikely.' The drop in the…
Oil prices touch lowest level in 3 months - TT
An oil pump jack operates on Lake Maracaibo in Cabimas, Venezuela. (Ariana Cubillos/AP/file) Oil prices continue to decline, with Brent crude falling below $91 per barrel, the lowest level in three months. The declines came after President Donald…
Oil Falls as U.S.-Iran Conflict Risks Ease
0159 GMT — Oil weakens after President Trump played down the prospect of further U.S. strikes on Iran. The diplomatic signals, including Trump saying that there's a potential end to the conflict in sight, drove an aggressive repricing of the…
Oil prices drop below 90 dollars as Trump says Iran war could end soon
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. Oil prices have dropped below 90 dollars a barrel for the…
Asian Stocks Rise, Oil Eases on Hopes for Iran Conflict Resolution
Oil fell and Asian equities rose Tuesday after President Trump's comments on the Iran war boosted optimism, prompting investors to shrug off last week's market selloff and Nvidia's suspected spy scandal. Risk sentiment rebounded as tentative signs…
Receive a Daily briefing on Oil Industry News
Get Started