Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Ukraine Strikes Degrade Russian Oil-Refining Industry, IEA Says
Russia's oil-processing is being degraded as sanctions prevent the refining industry from recovering from more intense and precise Ukrainian drone strikes, according to the International Energy Agency. “It now appears likely that the…
How China's oil majors helped Beijing prepare for an energy crisis
China's state oil companies have been at the forefront of Beijing's increasing prioritisation of energy security over the past decade, making investments that have helped soften the blow from the closure of the Strait of Hormuz. SCROLL TO CONTINUE…
Tsakos Energy Navigation: Watch Those Oil Prices (NYSE:TEN)
Tsakos Energy Navigation benefits from sharply rising oil prices, creating a bullish short-term industry outlook. Persistent geopolitical tensions, especially involving Iran, have shifted expectations to higher-for-longer oil prices, impacting…
Futures Rise With Help From Oracle's Beat and Cooler Oil Prices
US futures rallied after August's consumer price index matched estimates, easing some concern about accelerating inflation. Earlier on Friday, futures had climbed as oil prices retreated and Oracle Corp. 's earnings beat boosted tech sector…
Oil Markets Feel the Pain of a Protracted War
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Grant Smith explores the outlook for the oil market after the IEA warned demand may have to shrink further as war in the…
Iran's Houthi allies capture strategic island on vital oil shipping route
Yemen's rampant Houthi forces have captured a strategic island in the Bab al-Mandab strait, expanding their control of the narrow waterway, one of the world's vital shipping routes. The Iran-aligned Houthis took control of the volcanic…
EPA to Loosen Methane Rules, Boosting Pollution From Oil and Gas Wells
The Trump administration is poised to loosen environmental restrictions on oil and gas wells that produce very little energy but release vast amounts of methane, a highly potent greenhouse gas. The Environmental Protection Agency is proposing to…
Markets end marginally lower on cooling oil prices
Benchmark indices Sensex and Nifty ended marginally lower on Friday after registering sharp losses during the day following a drop in crude oil prices and buying in blue-chip HDFC Bank and IT stocks. The 30-share BSE Sensex declined 120.83 points…
Oil prices ease but remain above $100 - TT
Oil prices eased, taking a bit of pressure off inflation. Oil prices jumped earlier this week to their highest levels since May because of the ongoing war with Iran. The data firmed expectations on Wall Street that the Federal Reserve will feel…
Inflation held steady in August as Iran war surges oil prices
Inflation remained unchanged in August as gas prices continued to rise amid the war with Iran, new data from the Bureau of Labor Statistics (BLS) showed Friday. The consumer price index (CPI) increased 0.4 percent last month and 3.4 percent over…
Ukraine Says It Hit Major Oil Refinery in Russia's Volga Region
Ukraine said it hit Rosneft PJSC 's major oil refinery in the Volga region as Kyiv intensified its campaign against Russian energy infrastructure. “Fires have been detected at the site” of the Saratov plant, Ukraine's General Staff…
IEA warns global oil refining system 'stretched to the limit' as Iran, Ukraine wars tighten market
The International Energy Agency has cut its 2026 global oil supply forecast by 6% as the Iran war drags on. It now expects global oil demand to fall by 2.5 million barrels per day this year. The energy agency also warned that shrinking inventories…
Oil Prices Fluctuate as Traders Parse Middle East Developments
Iran-backed Houthi militants seized the port city of Mokha on Yemen's west coast Thursday, The Wall Street Journal reported, citing Yemeni and Saudi officials. The move increases their control near the Bab al-Mandeb chokepoint for energy exports…
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…
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