Oil Industry News
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US Stock Futures Slip on Alphabet, Oil Advances: Markets Wrap
US equity-index futures declined after Alphabet Inc.'s spending plans intensified concerns about the payoff from the industry's aggressive artificial intelligence buildout. Oil extended its rally. Contracts for the tech-heavy Nasdaq 100 Index fell…
Oil is surging again as market pros warn of 'cascading damage' to energy markets
It was only a few weeks ago that markets considered the worst-case scenario for oil to be off the table. The US and Iran had reached a preliminary peace agreement. Oil prices, the key flashpoint of the Iran war, were falling rapidly. All seemed to…
Vulnerable energy markets to raise oil above $100 - analyst (CL1:COM:Commodity)
Global energy (XLE), (AMLP), (VDE), (XOP) markets are more vulnerable than they were earlier this year, and continued regional escalations could push crude oil prices (CL1:COM) above $100 per barrel within weeks, according to Arne Rasmussen, chief…
Wall Street indexes dip with technology earnings, rising oil in focus
The Nasdaq led Wall Street lower on Wednesday with a mixed performance from technology stocks, as investors waited for key earnings reports to gauge the health of a market rally fed by enthusiasm for artificial intelligence. SCROLL TO CONTINUE WITH…
Oil Climbs as Escalating Conflict Boosts Supply-Disruption Concerns
Oil prices rose in Asia on Thursday as a broadening Middle East conflict boosts concerns over supply disruptions. American forces launched a 12th straight day of strikes against targets in Iran, U.S. Central Command said Wednesday. “The…
Iran war latest: Houthis strike Saudi oil tankers as Tehran warns of retaliation
The US House of Representatives has approved a defense policy bill that includes President Donald Trump's request for a substantial $1.15 trillion in national security spending and proposes renaming the Department of Defense to the Department of…
Tech bounce lifts Asia stocks, oil extends gains on US-Iran fears
Tech firms enjoyed a much-needed bounce on Thursday as they helped most Asian stock markets higher amid renewed hopes for the AI boom, though oil prices rallied after the US and Iran ratcheted up Middle East tensions. Investor appetite for all…
Houthi threats give oil markets a '2-chokepoint problem' - TT
The Gas King U-turned to head toward the Suez Canal in the north of the Red Sea. Bab el-Mandeb is to the south. (Bloomberg) Houthi threats against Saudi-linked shipping at the Bab el-Mandeb Strait prompted tankers and other vessels to divert, pause…
Namibia Fuel Retailer Nasan Sees Oil Growth After Vitol Deal
Nasan Energies, a Namibian fuel retailer that recently bought stations from Vitol Group, plans to expand operations to service the country's offshore oil industry that includes TotalEnergies SE and Shell Plc. The company anticipates “big…
Oil climbs over 3% to near six-week high as conflict threatens key oil transit routes
July 22 (Reuters) - Oil prices rose to a near six-week high on Wednesday, with Brent crude surpassing $95 a barrel, on mounting concerns about disruptions to Middle Eastern supply routes because of escalating hostilities between the U.S.
U.S. Stocks Stall as Oil Extends Gains
U.S. stocks were little changed Wednesday as oil prices extended gains, while investors braced for a wave of major earnings. The Dow Jones Industrial Average fell 6.06 points, or 0.01%, to 52218.58. The S&P 500 slipped 10.24 points, or 0.14%, to…
Oil price rises above $95 mark as Middle East conflict escalates
The price of oil has breached the $95 a barrel mark for the first time in six weeks as the escalating Middle East conflict threatens further disruption to global supplies. The benchmark oil price rose sharply on Wednesday as renewed US-Iran…
Rising oil prices weigh on US futures ahead of Big Tech results
By Gregor Stuart Hunter and Johann M Cherian July 22 (Reuters) - Oil prices surpassed $95 per barrel on Wednesday as tensions intensified in the Middle East, pressuring U.S. equity futures ahead of key Big Tech earnings, while the dollar dipped…
Oil Rises Amid Prospects of Further Escalation in U.S.-Iran Conflict
2333 GMT — Oil rises in early Asian trade amid prospects of further escalation in the U.S.- Iran conflict that could lead to increased supply disruptions in the Middle East. President Trump threatened to destroy Iranian infrastructure if…
Indian Stock Markets Decline Amidst Surging Crude Oil Prices, West Asia Tensions
Indian stock markets, including the Sensex and Nifty, experienced a notable decline in early trade as surging crude oil prices, fuelled by escalating tensions in the West Asia, weighed heavily on investor sentiment. Indian benchmark indices, Sensex…
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