Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Flat Alongside Oil Futures -- Energy Roundup
Shares of energy companies were more or less flat, mirroring moves in U.S. oil futures. Gulf producers are increasingly looking to expand overseas storage to ensure crude continues to flow, as the Iran war poses risks to energy infrastructure and…
ANZ Raises Oil Price Forecast as Market Tightens on Iran War
Oil-market balances are now more fragile than at the start of the Middle East conflict, and any flareup after the US midterm elections will push prices higher, according to ANZ Group Holdings Ltd. The bank now expects Brent to end the year at $105…
After His Iran War Triggered an Oil Crisis, Trump Blames Soaring Energy Prices on Climate Regulations
Fuel prices have exploded throughout the US since Donald Trump began his war on Iran. According to the Center for American Progress, gas and diesel prices are 43 and 68 percent higher, respectively, as of October 22 compared to when the war began…
Consumer Cos Up Slightly as Oil, Inflation, Rate Fears Subside -- Consumer Roundup
Consumer companies rose slightly as oil futures and inflation concerns moderated. The core personal-consumption expenditures price index rose by 3.1% in September from a year earlier, according to the Commerce Department's Bureau of Economic…
Nymex Overview: Oil, Diesel Retreat as U.S. Steps Up Diplomacy -- OPIS
Crude-oil and diesel contracts fell sharply as the latest diplomatic efforts by the Trump administration to engage Iranian hard-liners in peace talks eased worries over a possible war escalation. December Nymex West Texas Intermediate crude futures…
'The $100 level is ours for awhile': Oil won't be getting cheap anytime soon, no matter what happens in the Gulf
The oil market didn't bat an eye after reports Thursday of tankers hit by mines in the Strait of Hormuz. The market may soon reach a point, however, where the dust finally settles enough to see the true chaos the eight-month-old conflict in the…
Exclusive | Chevron Is Back to Searching for Oil and Gas in Far-Flung Places
is back on the hunt for oil and gas in far-flung, undeveloped regions after years of cutting spending on frontier exploration and drilling close to home. The oil giant, the largest in the U.S. behind, is rolling in cash after the Iran war spurred a…
Satellites Show Saudi Persian Gulf Oil Loadings Hit Wartime High
Oil loadings from Saudi Arabia's export facilities in the Persian Gulf jumped on Wednesday with nine supertankers collecting the nation's cargoes, the latest sign that regional flows might be climbing. Images from the European Union's Sentinel 2…
Sandesara Family's Sterling Oil Adds Eni's AENR To Its Nigerian Portfolio
LAGOS / MUMBAI: Sterling Oil Exploration and Energy Production Company Limited has expanded its Nigerian energy portfolio through the acquisition of Agip Energy and Natural Resources (Nigeria) Limited (AENR), a subsidiary of Italy's Eni. The…
Oil Ticks Back Up as Uncertainty Clouds Peace Hopes
0030 GMT — Oil prices gain in early Asia trade after settling lower on hopes of U.S.- Iran talks. Traders continue to weigh the prospect of renewed efforts to reopen the Strait of Hormuz against the possibility of another re-escalation.
Seven oil tankers carrying 288,000 tonnes of Russian diesel sail towards US
Seven oil tankers carrying an estimated 288,000 tonnes of Russian diesel are now sailing towards the US, though it is uncertain if the vessels will be able to unload amid a political row about the legality of the shipments. The transport, tracked…
Households urged to dispose of used cooking oil using binman's method
For those who frequently cook at home, there's one specific kitchen by-product that can become rather problematic if not disposed of correctly. Used cooking oil poses a real challenge, especially when you've built up a significant quantity. It's…
Shell criticised over bumper earnings haul amid soaring oil 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. Shell has revealed quarterly earnings nearly doubled as…
Sinopec's Third-Quarter Profits Soar on Higher Oil Prices
Sinopec, China's biggest oil refiner, posted higher third-quarter profits after the Iran war boosted energy prices and helped improved processing margins. The state-owned company, formally known as China Petroleum & Chemical Corp., said net income…
Ukraine war live: Kyiv 'pauses oil strikes' under pressure from Trump
President Vladimir Putin told a gathering with African nations in Moscow that relief supplies would begin reaching Oleshky civilians on Thursday and Friday, 'with the support, incidentally, of the first lady of the United States'. The truce…
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