Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Current price of oil as of June 29, 2026
As of 8:50 a.m. Eastern Time today, oil sold for $74 per barrel (using Brent as the benchmark, which we'll get into momentarily). That's 15 cents lower than yesterday morning and approximately a $6.67 rise over the past year. It's impossible to…
Goldman says the Iran oil crisis is a preview of commodity shocks to come
Goldman Sachs says the era of commodity shocks will stick around even after the historic Iran war oil disruption fades into memory. In a note on Sunday, Goldman analyst Samantha Dart and her team wrote that they see a market in which commodity…
Stocks mixed and oil rises as US, Iran call end to latest attacks
Asian stocks were mixed and oil prices edged up as reports said the United States and Iran had agreed to stop attacking each other following a weekend of strikes that threw their fragile truce into question. Investor confidence remains shaky after…
Oil Markets Are Pricing A Supply Surge That Isn't Guaranteed
Oil prices are tumbling as tankers stream out of the Strait of Hormuz, but most of that traffic is stranded vessels finally allowed to leave, not new supply heading in. Iran struck a commercial ship near Oman this week even as the 60-day U.S.-Iran…
Another Russian Oil Refinery in Flames
Last week I highlighted a video showing a line of thousands of cars waiting in a 10 kilometer long backup as people try to get out of Crimea. Those people would eventually cross the Kerch bridge and then continue east where they would pass through…
JPMorgan Struggles to Find Demand for Oil Driller's 15% Loan
JPMorgan Chase & Co. has struggled to attract investor demand for a $775 million loan to a Trump administration-supported oil driller that would pay a hefty 15% interest rate, according to people familiar with the matter. The Sable Offshore Corp.
Stocks On Comeback Trail; Oil Rises Again
Markets start shortened week to the upside. Comcast spins off media arm from technology. Week marks end of quarter and first half. It looks like we're back on the merry-go-round as stocks were rising across the board in the early going, shaking off…
Stocks perk up and oil cools as US and Iran halt hostilities
By Ankur Banerjee and Harry Robertson SINGAPORE/LONDON, June 29 (Reuters) - European stocks and U.S. futures ticked higher on Monday after the U.S. and Iran agreed to halt recent hostilities and renew talks, helping oil prices fall after spiking…
Oil Rises Amid Renewed Supply-Disruption Concerns
2349 GMT — Oil rises amid renewed concerns over supply disruptions in the Middle East. Iran has exclusive right to manage traffic in the Strait of Hormuz under the preliminary peace deal signed with the U.S., Foreign Minister Abbas Araghchi…
JGBs Fall Amid Rising Crude Oil Prices
0032 GMT — JGBs fall in price terms in the early Tokyo session amid this morning's rise in crude oil prices that could lead to higher inflation in Japan, which is a major net oil importer. This, in turn, could prompt the BOJ to raise rates…
Sierra Leone grants oil block rights to Nigerian firm
Sierra Leone granted exploration rights for four offshore oil blocks to Nigeria's Marginal Energy, in a bid to reignite investor interest in the industry. The deal comes as Sierra Leone plans to issue more offshore licenses and follows separate…
US-Iran Agree to Stop Strikes, Stocks Lift and Oil Rises, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
Oil Jumps After Crude Tanker Hit in Latest Middle East Flare-Up
Oil advanced after a tanker carrying Qatari crude was hit during a flare-up in attacks between the US and Iran, straining a ceasefire and hampering shipping through the Strait of Hormuz. Brent jumped as much as 1.9% to $73.39 a barrel, after…
UK Growth Outlook Brightens After US-Iran Truce Lowers Oil Costs
The fall in global oil prices is “unequivocally good news” for Britain's economy, Bloomberg Economics said as it lifted growth forecasts for this year. UK output will expand 1.2% in 2026, it said, up from a forecast of 0.8% before the…
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