Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Big Oil CEOs Warn Energy Market Is Moving Closer to Cliff's Edge
America's biggest oil companies are warning that global crude markets may be nearing an inflection point of higher prices the longer the Strait of Hormuz stays closed. Every day the waterway remains shut, the world is using up commercial…
Big Oil Stays the Course Despite Historic Dislocation in Energy Markets
The oil giants that for years reined in fossil-fuel spending and showered investors in cash are warning the Iran war is severely tightening global oil supplies—and they are in no hurry to change course. The energy shock is manifesting in the…
Imperial Oil Ltd. stock falls Friday, underperforms market
Shares of Imperial Oil Ltd. IMO slid 4.04% to C$174.60 Friday, in what proved to be an all-around down trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.22% to 33,891.18. Imperial Oil Ltd. closed 6.0% short…
Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.23% higher to C$65.95 Friday, 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 0.22% to 33,891.18. Tourmaline Oil…
Wall Street rises towards more records as oil prices slip
The US stock market is rising towards more records on Friday after Apple, Estee Lauder and other big companies became the latest to deliver fatter profits for the start of the year than analysts expected. Modest dips for oil prices also helped to…
US blockade is squeezing Iran's all-important oil industry, Analysis - Ya Libnan
Even as Iran squeezes world energy supplies with its chokehold on the Strait of Hormuz, its own oil industry is increasingly being threatened by an American blockade. With no way to export the oil it is pumping out and diminishing room to store it…
Consumer Cos Up as Oil Futures Give Back Some Gains -- Consumer Roundup
Consumer companies rose as oil prices gave back some of their recent gains. Newell Brands, maker of Sharpies and other consumer products, posted lower first-quarter sales but raised its full-year sales outlook on expectations that its turnaround…
Apple leads Wall Street to more records as oil prices pull back
NEW YORK (AP) — The U.S. stock market set more records Friday after Apple, Estee Lauder and others joined the list of companies delivering fatter profits for the start of the year than analysts expected. Easing oil prices also helped steady…
Oil price declines amid reports of new Iran offer
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. The FTSE 100 closed down on Friday, but above early lows…
Police investigate heating oil thefts in Aberdeenshire
Police investigating the theft of heating oil from two homes in Insch say there have been a number of similar incidents recently across Aberdeenshire. The latest thefts happened in Commerce Street and are believed to have taken place in the early…
Iran oil crisis fuels confusion over energy transition
Nothing highlights the contradictions and costs of Australia's home-grown energy dramas like a global oil crisis. Energy Minister Chris Bowen says the shortages and price hikes created by the Middle East conflict accelerate the need for the…
Can higher oil prices negate damage to Qatari gas plant for Shell?
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. Shell is set to reveal how the Middle East conflict has…
The UAE realizes what Trump and OPEC won't admit: We've hit peak oil
When the United Arab Emirates announced that it would, on May 1, exit OPEC after 59 years of membership, the official language was diplomatic and measured. The UAE 's Energy Ministry said the decision followed 'a comprehensive review of its…
Big Oil Warns Supply Buffer Is Running Out
The US-Israel war with Iran and the calamity it's triggered in global energy markets has been sharply felt by nations from Southeast Asia to Europe. In the US, however, the price for consumers flowing from Donald Trump's decision to attack has been…
Exxon and Chevron quarterly earnings fall despite soaring oil prices
Exxon Mobil and Chevron reported drops in profit in their first quarter despite surging oil prices, a result of stalled deliveries and supply disruptions in the Middle East. Exxon's quarterly earnings fell to $4.2bn from about $7.7bn the same…
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