Oil Industry News
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Energy Up With Oil Futures - Energy Roundup
Shares of energy companies rose as fears about the Strait of Hormuz drove a rebound in oil futures. Oil rose 3.7% to $94.69 a barrel in New York after Defense Sec. Pete Hegseth said the U.S. was prepared for a prolonged blockade of the key energy…
Trump Officials Urge Oil Industry to Boost Output Amid War
Trump administration officials urged US oil producers to boost output, driving home a message to the industry that's become more urgent amid the war in Iran. Interior Secretary Doug Burgum and Energy Secretary Chris Wright made their plea during a…
Scottish Parliament 'paying lip service' to oil and gas industry - Kemi Badenoch
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Kemi Badenoch has said the Scottish…
Letters | Amid elevated oil prices, Hong Kong's stable energy system is a boon
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at [email protected] or filling in this Google form. Submissions should not exceed 400 words. The outbreak of the war in…
Imperial Oil Ltd. stock rises Thursday, outperforms market
Shares of Imperial Oil Ltd. IMO inched 0.31% higher to C$172.07 Thursday, in what proved to be an otherwise all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.30% to 34,052.23. Imperial Oil…
Tourmaline Oil Corp. stock rises Thursday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.96% higher to C$61.22 Thursday, in what proved to be an otherwise all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.30% to 34,052.23.
Oil Majors Lose Another Appeal of $5 Billion Kazakh Sulfur Fine
The oil majors that operate Kazakhstan's second-largest field lost another court appeal over an environmental fine of about $5 billion, further narrowing their options to fight the penalty. In a ruling on April 8, an Astana-based court upheld an…
Oil Prices Keep Falling
Oil prices fell more than 1% following President Trump's optimism for a deal with Iran and the start of a 10-day cease-fire between Israel and Lebanon. WTI futures were down about 1.5% at around $93, while Brent futures declined 1.3% to about $98.
Druzhba Oil Flows Could Resume Next Week, Hungary's Magyar Says
Flows of Russian oil to Hungary via the Druzhba pipeline could resume next week after a months-long hiatus, incoming Prime Minister Peter Magyar said, citing the head of refiner MOL. Magyar told reporters on Friday that Zsolt Hernadi had told him…
How India managed oil embargo and energy crises of 1973 and 1979
As the crisis in West Asia continues to shape global energy security, what lessons do past oil shocks offer for navigating the current situation? Let's examine. But first, a brief overview of India's energy mix and import dependence. The unfolding…
Latest £100 home heating oil grant set to be paid out by 'summer at earliest'
A vital support scheme intended to help Northern Ireland families with escalating fuel costs is not anticipated to be delivered until this summer, the Stormont Communities Minister has confirmed. The announcement follows recent protests across the…
Consumer Cos Down as Oil Rebounds - Consumer Roundup
Consumer companies fell as oil futures rebounded. The average price of a gallon of gasoline in the U.S. was $4.09 on Thursday, according to AAA. The price at the pump is likely to go up further if oil's resurgence continues. Soda giant PepsiCo's…
US oil floats to top as Asia looks for Middle Eastern alternatives amid Iran war
Asian refiners have grown increasingly reliant on US crude as oil-starved fuel makers scour the globe to replace Middle Eastern supply and stave off shortages that could ripple through the broader economy. Buyers in Japan led the charge to purchase…
Oil Prices Fall on Hopes for U.S.-Iran Deal
Brent crude futures are down more than 3% this morning to trade close to $96 a barrel. The U.S. benchmark WTI is also down 3% to trade at nearly $88. One key driver of lower prices: The newly struck cease-fire between Israel and Lebanon appeared to…
Oil Futures Extend Gains as U.S. Tightens Blockade
Prospects for further U.S.-Iran talks have reduced volatility in recent sessions. “What the market is ultimately pricing right now is a variety of potentially quite different outcomes,” says Ben Hoff of Societe Generale. The U.S.
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