Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Iran Conflict Is Causing Record Oil Disruption, Energy Historian Says
The regional spillover of the Iran war is causing the largest-ever disruption of global oil markets, according to Dan Yergin, energy historian and S&P Global's vice chairman. Iraq, Kuwait and Qatar have shut down some energy production in recent…
Struggling trucking industry hit by higher oil prices
Increasing fuel prices are putting upward pressure on Australia's already struggling road transport industry. Global oil prices have spiked over the past week, reaching about $US114 a barrel on Monday, as geopolitical tensions rise in the Middle…
Oil shock
EXTERNAL shocks have repeatedly shaped Pakistan's economic trajectory. From oil crises to global financial turbulence, the pattern is a familiar one: rising import costs weaken the balance-of-payments, inflation accelerates and pressure mounts on…
Why oil prices are trending | CNN Business
Crude oil prices soared on Monday as the Iran war continues to escalate, briefly surging to the highest level since Russia's invasion of Ukraine. CNN's Hanna Ziady explains what is causing the spike in prices. Discover more videos, including live…
G7 nations prepared for joint release of oil reserves amid Middle East strife
Finance ministers from the Group of Seven major industrialized nations issued a statement Monday vowing to address surging crude oil prices amid the U.S. and Israel's continued conflict with Iran. “We stand ready to take necessary measures…
No shortage of edible oil: PVMA
KARACHI: Amid increasing geopolitical tensions and supply chain disruptions caused by the US-Iran conflict, ghee and cooking oil producers have assured that there is no shortage of these items due to sufficient stocks to satisfy domestic demand for…
Europe considers tapping oil reserves as G7 seeks to smother energy crisis
Our digitised version of the FT newspaper, for easy reading on any device. FT Digital Edition: our digitised print edition Global news & analysis Expert opinion Translate instantly to 26 languages Lex: FT's flagship investment column FT Magazines…
Daily on Energy: Oil begins to settle, fireworks return to Mt. Rushmore, and a class action suit over Potomac sewage spill
Few, if any, tankers have been able to pass through the Strait of Hormuz over the last week, but that's not stopping President Donald Trump from saying the vessels should just go through regardless of the risks. 🚢 Keep reading to see what…
Oil falls as Trump predicts Middle East de-escalation
Oil prices fall after surging as high as $119 a barrel on Monday Trump predicted the war in the Middle East could be over soon G7 ready to act on oil surge but holds off tapping reserves Oil prices fell on Tuesday after hitting an over three-year…
Defence taps industry for jet fuel as oil crisis deepens
Defence held talks with major resources companies late last year about securing more jet fuel and diesel amid concerns a global shock could threaten supplies, underlining the risk a prolonged Middle East conflict poses to Australia's reserves. As…
Oil briefly reaches $119 per barrel
It's unclear how long the disruption will last — and therefore how long the markets will be squeezed and how high prices will ultimately go. “The absolute disruption of flows through the Strait of Hormuz is by far the biggest…
Stocks tumble as oil surges and gas prices spike
Stocks fell sharply Monday morning as oil prices surged above $100 a barrel after Middle Eastern producers began cutting output amid the escalating war with Iran. The Dow Jones dropped 634 points or 1.34 percent, while the S&P 500 and Nasdaq also…
Oil prices latest: Reeves issues inflation warning over US-Iran war
Rachel Reeves has said she is ready to support “a co-ordinated release” of international oil reserves held by the International Energy Agency, to ease the economic shock of the US-Iran war. The chancellor issued a stark inflation…
Iran War: Oil prices fall after Trump warns Tehran over Strait of Hormuz
Peter Hoskins Business reporter Oil prices fell on Tuesday after US President Donald Trump warned Iran to not block a shipping route crucial to global energy supplies. 'If Iran does anything that stops the flow of Oil within the Strait of Hormuz…
Heating oil suppliers are told not to exploit Brits as prices double
Ministers last night warned heating oil suppliers against exploiting the Middle East crisis after prices doubled in a week. Rachel Reeves said she was ready to protect 1.5million households relying on heating oil, who are primarily in rural…
Receive a Daily briefing on Oil Industry News
Get Started