Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

marketwatch.com - Energy Down Alongside Oil Futures - Energy Roundup
Energy Down Alongside Oil Futures - Energy Roundup
MarketWatch

Shares of energy companies ticked down alongside oil futures. Oil fell 1.3% to $68.58 a barrel, the lowest level since the eve of the Iran war. Oil prices have now declined on six of the last eight sessions. Commercial crude oil stocks excluding…

heraldscotland.com - The Herald Staff - Evolution of Scotland's oil and gas sector is creating positive energy
Evolution of Scotland's oil and gas sector is creating positive energy
The Herald

ONE of Scotland's proudest industries, oil and gas, has undergone a highly publicised transformation in recent years; the UK now imports over 42% of its energy needs, up from around 30% in 2019. A leading UK wealth planning business, TrinityBridge…

bloomberg.com - Watch Prasad: Oil Flow is Up But Market Uncertainty Remains
Watch Prasad: Oil Flow is Up But Market Uncertainty Remains
Bloomberg

Prasad: Oil Flow is Up But Market Uncertainty Remains Oil extended its drop for a third day, as flows through the Strait of Hormuz climbed. Aathira Prasad, Director of Macroeconomics at Nasser Saidi & Associates, spoke to Bloomberg's Abeer Abu Omar…

wsj.com - Anthony Harrup - U.S. Crude Oil Inventories Extend Decline
U.S. Crude Oil Inventories Extend Decline
Wall Street Journal

U.S. crude oil inventories fell for a 10th consecutive week as exports remained high and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration. Commercial crude oil stocks excluding…

bbc.co.uk - John Johnston - Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
BBC

John Johnston BBC Scotland, Shetland Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site.

bbc.co.uk - John Johnston - Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
BBC

Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site. The company has been reducing the…

bloomberg.com - Iran's Floating Oil Stockpile Swells as Major Buyers Stay Away
Iran's Floating Oil Stockpile Swells as Major Buyers Stay Away
Bloomberg

A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington. More than 58 million barrels of Iranian crude and condensate was on-the-water as of July 1…

bloomberg.com - Kanupriya Kapoor - Palm Oil Dips on Weaker Crude and Malaysian Production Outlook
Palm Oil Dips on Weaker Crude and Malaysian Production Outlook
Bloomberg

Palm oil edged lower, weighed down by declining crude prices and expectations for strong output from the second-biggest grower, Malaysia. Futures in Kuala Lumpur dipped 0.2% to trade near 4,545 ringgit per ton, erasing the previous session's gain.

washingtonexaminer.com - Callie Patteson - Daily on Energy: Trump's nuclear deadline met, oil prices decline further, and U.S. to outpace China on fossil fuel spending
Daily on Energy: Trump's nuclear deadline met, oil prices decline further, and U.S. to outpace China on fossil fuel spending
Washington Examiner

Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson). Email cpatteson@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this…

rediff.com - Nandita Malik - Indian Stock Market Rallies on Falling Crude Oil Prices, Positive Geopolitical News
Indian Stock Market Rallies on Falling Crude Oil Prices, Positive Geopolitical News
Rediff.com

Indian stock markets, including the Sensex and Nifty, experienced a significant rally in early trade, primarily driven by a notable decline in crude oil prices and optimistic geopolitical developments, alongside strong performances from key IT…

wsj.com - UBS Cuts Oil-Price Forecasts as Strait of Hormuz Flows Ramp Up
UBS Cuts Oil-Price Forecasts as Strait of Hormuz Flows Ramp Up
Wall Street Journal

0106 GMT — Rising energy shipments through the Strait of Hormuz prompt UBS to cut its 2026-27 oil-price forecasts. UBS now expects Brent crude to average $84 a barrel this year, down $9 a barrel from earlier. It also lowers its 2027…

yahoo.com - By Seher Dareen - Oil falls as markets await outcome of Iran-US talks, US stocks data
Oil falls as markets await outcome of Iran-US talks, US stocks data
Yahoo!

LONDON, July 1 (Reuters) - Oil prices fell on Wednesday as talks between Iran and the U.S. aimed at reaching a final agreement to end their war continued and ‌the market awaited data from the U.S. regarding stock draws. Brent futures fell 62…

independent.co.uk - Stuti Mishra - Oil prices dip to level not seen since before the Iran war - here's why
Oil prices dip to level not seen since before the Iran war - here's why
The Independent

Oil prices, including Brent and West Texas Intermediate, have fallen to levels last seen before the US- Iran conflict, extending significant losses from the previous session. This decline is largely attributed to the gradual resumption of shipping…

abc.net.au - Live: ASX to open lower as the price of oil drops
Live: ASX to open lower as the price of oil drops
Australian Broadcasting Corporation

ASX 200 Futures: -0.2% to 8,693 points Australian dollar: +0.1% to 68.94 US cents Wall Street: S&P500 -0.2%, Dow -0.03%, Nasdaq -1.5% Europe: FTSE -0.2% Spot gold: +0.6% to $US4,030/ounce Oil: -2.5% to $US71.16/barrel Iron ore: -1.1% to…

independent.co.uk - Stuti Mishra - Oil prices fall to pre-war levels as Strait of Hormuz shipping slowly recovers
Oil prices fall to pre-war levels as Strait of Hormuz shipping slowly recovers
The Independent

Oil prices fell to levels last seen before the US-Iran war as the gradual resumption of shipping through the Strait of Hormuz continued to drain the risk premium that had pushed crude to its highs during the conflict. West Texas Intermediate, the…

Receive a Daily briefing on Oil Industry News

Get Started