Oil Industry News
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Asia Fuel Restrictions; Oil Tanker Attack: Mideast Energy Latest
The impact of the war with Iran rippled further through global energy markets on Thursday. Refiners in China and Japan that depend on Middle East oil halted fuel exports to protect domestic supplies. The cost of shipping oil out of the US rose to a…
Pipeline's idling puts squeeze on Kern oil industry
Independent local oil producers are being squeezed by the idling of the only crude pipeline running north to a Bay Area refinery, which leaves them few options but to have their product hauled at considerable cost to southbound pipeline…
Households on heating oil already grappling with soaring prices
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. Households that rely on heating oil are grappling with…
Households on heating oil already grappling with soaring prices
Households that rely on heating oil are grappling with immediate rising costs as the Middle East conflict causes prices to soar. Home heating oil is used by around 1.5 million households in the UK, but sudden volatility in global oil trade has…
Oil Extends Rally as Stresses Mount Across Global Energy Markets
Oil extended gains as the US and Israeli war against Iran disrupted crude flows to key importers, with the combatants vowing to press on with the conflict and top importer China seeking to conserve fuel. Brent climbed toward $85 a barrel, after…
Oil Rises as Iran War Piles Further Stress on Energy Supplies
(Bloomberg) -- Oil gained as the deepening conflict in the Middle East disrupted crude flows to key buyers, with top importer China seeking to conserve fuel as the combatants vowed to press on with hostilities. Brent climbed above $83 a barrel, as…
Oil & Gas Prices Resume Rise as Disruption in Middle East Mounts
In afternoon trading in Europe, Brent crude trades up 2% to $82.99 a barrel. The U.S. benchmark, West Texas Intermediate rises 2.1% to $73.26 a barrel. European natural gas prices trades higher, with the most-active TTF front-month contract rising…
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War with Iran chokes flows of oil and natural gas, highlighting energy security risks for Asia
Global energy trade is in turmoil as war around the Persian Gulf chokes off oil and natural gas shipments, causing prices to soar. Asia is the most exposed since it relies heavily on imported fuel, much of it shipped through the Strait of Hormuz…
This Oil Shock Hits Differently for the US
With the US and Israel bombarding Iran, the surge in oil prices brings to mind the inflationary energy shocks of the past half century. But that may be the wrong way to think about what's unfolding in the economy today. While the 1970s and 2022…
Petrol price misery continues as oil surges to highest cost in a year
The price of oil has surged to figures not seen in over a year as war in the Middle East leads to more misery for drivers in the UK, with a knock-on effect at the pumps. The costs of both petrol and diesel have risen since Saturday, when the US and…
Erratic Futures, Oil Jittery As Iran Newsflow Drives Markets
US futures are mixed, first dropping overnight to session lows after Iran vowed to escalate its retaliation against US strikes and avenge the US sinking of an Iranian warship as the conflict entered its sixth day, before spiking to session highs…
Why oil and gasfield timelines are growing
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…
Oil prices rise again as conflict in Middle East escalates
Oil prices climbed higher on Thursday as investors continued to worry about how the escalating conflict in the Middle East may disrupt global supply chains. The Brent futures contract BRN00, the international benchmark, rose just over 1% to $82.14…
As oil spikes, energy stocks again lead US markets
The S&P 500's energy stocks (Energy Select Sector SPDR Fund) are some of the few bright spots in the blue-chip index Thursday, after continued US and Israeli bombing, and renewed Iranian attacks on energy infrastructure throughout the Middle East…
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