Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
India and Sri Lanka discuss oil pipeline and energy hub
India and Sri Lanka have held talks on setting up an oil pipeline connecting the two South Asian nations. Indian Foreign Secretary Vikram Misri said the discussions on Sunday between Vice President C. P. Radhakrishnan and Sri Lankan President Anura…
Watt outlines 'number of issues' with Crisafulli's oil industry plan
The Crisafulli government wants to fast-track the development of an oil field in Queensland through a mechanism that doesn't exist under new environment laws, according to a stinging letter sent to the premier from federal cabinet minister Murray…
Oil prices spike again following latest standoff in the Strait of Hormuz
NEW YORK (AP) — Oil prices rose in early trading Sunday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of U.S. crude…
From a Surrey oil well to the supreme court: how an activist changed UK climate law
It started with a notice in the local newspaper and ended with winning one of the world's most prestigious environmental prizes. In 2010, Sarah Finch was flicking through the local planning notices when one caught her eye: a proposal to drill for…
Watch Saxo Sees 'Confusion' Reigning in Oil Markets
Saxo Sees 'Confusion' Reigning in Oil Markets Ole Hansen, commodity strategy head at Saxo Bank, discusses market sentiment as oil jumped amid a weekend flare-up in US-Iran tensions. 'Even with the setback we saw on Friday, these prices are still…
Oil prices jump as Strait of Hormuz tensions escalate
Peter Hoskins Business reporter Global oil prices jumped in Monday morning trade in Asia as tensions rose between the US and Iran over the Strait of Hormuz waterway. Brent crude futures were up by 6.4% at $96.13 (£71.27), while West Texas…
Oil prices jump as Strait of Hormuz tensions escalate
Global oil prices jumped in Monday morning trade in Asia as tensions rose between the US and Iran over the Strait of Hormuz waterway. Brent crude futures were up by 6.4% at $96.13 (£71.27), while West Texas Intermediate was 7.5% higher at…
US Futures Fall, Oil Jumps as Iran Tensions Worsen: Markets Wrap
US equity-index futures slipped, oil jumped and the dollar rose as risk sentiment soured following a renewed flare-up in US-Iran tensions over the weekend and a continued standoff in the Strait of Hormuz. S&P 500 futures fell 0.7% after the…
Oil prices surge after Trump announces Iranian tanker seized
Global oil prices rose overnight after President Donald Trump said the US has intercepted and seized an Iran-flagged cargo ship. Brent crude futures were up by 4.74% at $94.66 (£70.11) a barrel as of 5:30am, which was a drop from the 7% high…
Fresh uncertainty over US-Iran war sends oil price back up
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. Oil prices rose on Monday after the US seizure of an…
Oil claws back losses as Strait of Hormuz is closed again
Oil prices rebounded more than 6 percent on Monday after tumbling more than 9 percent on Friday on news the Strait of Hormuz is closed again after both the U.S. and Iran said the other party had violated their ceasefire deal by attacking…
Oil prices climb as US-Iran peace talks stall
The price of oil surged on Sunday after a second round of peace talks between the US and Iran appeared on the verge of collapse before they even began. Brent crude oil futures rose by 7% when the markets opened at 6 p.m. in New York, opening at $97…
Strait of Hormuz standoff sends oil prices surging
Oil prices surged more than 6 percent in early trading Sunday as Iran's reversal on reopening the Strait of Hormuz intensified a global energy crisis — and then escalated further after the U.S. seized an Iranian-flagged cargo ship attempting…
European stock markets fall and oil and gas prices jump as strait of Hormuz 'chaos' worries investors - business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Complacency that the Middle East confict might have been approaching an end has vanished from the markets today, as concern grows that hat…
Fuel eating microbes, chemicals and fire: the race to discover new ways to contain Arctic oil spills
Last winter, inside the subarctic Churchill Marine Observatory in Canada, scientists embarked on an experiment they hoped would result in a gamechanging remedy for polluted Arctic waters. They released 130 litres of diesel into an ice-covered pool…
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