Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil price dives as US and Iran pause attacks
The price of oil sank more than 9% on Monday on hopes that a pause in attacks between US and Iran could help lead to a resolution to the conflict. Brent crude, the global benchmark for oil, dipped below $88 a barrel, marking a sharp turnaround from…
DR Congo: Oil Company Operations Pose Grave Pollution Threat
Pollution linked to the Democratic Republic of Congo's only oil producer poses serious health risks to communities near its operations. Perenco, the oil company, has engaged in gas flaring and waste burning that have contributed to poor air quality…
North Sea oil billionaire and philanthropist Sir Ian Wood dies aged 84
Billionaire Sir Ian Wood, who made his fortune in the North Sea oil industry with the Wood Group company, has died at the age of 84. Sir Ian was one of Scotland's wealthiest people. He took over the family business in 1967, and turned the Aberdeen…
Trump shares 'Strike on Kharg' image, reviving Iran oil hub focus
President Donald Trump has shared a series of images on Truth Social centered on Iran 's energy infrastructure and maritime trade, including one bearing the message 'Strike on Kharg'—a reference to Iran's most important oil-export hub and a…
Oil prices tumble as fighting subsides - TT
Cars line up at a Gulf Oil station on the Massachusetts Turnpike near Boston on July 19. (Gene J. Puskar/AP/file) Oil prices slipped as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim…
Oil and gas explorer Lakes Blue Energy launches capital raising
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
Oil prices fall back sharply on renewed Iran war ceasefire hopes
Oil prices have retreated below 90 US dollars a barrel as a pause in fighting between the US and Iran boosted hopes of rekindling a peace deal and reopening the vital Strait of Hormuz. The cost of benchmark Brent crude dropped 8% to 87.55 US…
JGB Futures Rise Amid Falling Crude Oil Prices
0015 GMT — JGB futures rise in early Tokyo trade amid falling crude oil prices that typically lead to lower inflation in Japan. Investors will closely monitor the BOJ's two-day meeting starting Thursday, where the central bank is widely…
Oil prices fall as US pauses strikes on Iran over strait of Hormuz
Oil prices have dropped by 6% as tradersbet that a pause in US attacks on Iran could prevent an escalation in the conflict that would furtherrestrict global supply. Brent crude, the international benchmark for oil, fell 6% to below $91 a barrel on…
China industrial profit growth slows again in June as retreating oil prices sap earnings lift
China's industrial profits rose 15.1% in June from a year earlier, slowing for a second straight month. Industrial corporate earnings have rebounded this year, thanks to an AI-fueled boom in chip and equipment manufacturing. Economists expect…
Essential oils sector could unlock jobs and industrialisation, says the dtic
The Department of Trade, Industry and Competition's Chief Director of Chemicals, Cosmetics, Pharmaceuticals and Plastics, Claudy Steyn, delivers the opening address during the 4th South African Essential Oils and Vegetable Oils Conference at…
What Threats to Red Sea Shipping Could Mean for Oil Markets
That's how much of global oil supply is under threat as Houthi militants threaten shipping through the Red Sea, according to Société Générale. Iran-banked Houthis have fired on Saudi Arabia-linked vessels in the Red Sea…
Whipsawing Oil Prices Muddy Traders' Outlook on Fed Meeting
This article is for subscribers only. Renewed tensions in the Middle East, an AI-driven demand boom and new tariffs from the Trump administration are making this week's Fed rate decision a close — and contentious — call. Soaring…
Oil Market's Glut Narrative Just Blew Up
Less than a month ago, analysts were warning of a looming glut of crude oil as tanker traffic via the Strait of Hormuz began to recover amid a U.S.-Iran ceasefire. Within days of these warnings, the ceasefire was a painful memory, missiles were…
Home heating oil: Prices jump £100 in three weeks in Northern Ireland
The price of home heating oil is on the rise again after a period of respite. Consumer Council for Northern Ireland (CCNI) figures show that in just three weeks the average cost of 500 litres of home heating oil has jumped from £346.59 to…
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