Oil Industry News
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Brazil's oil industry is surging thanks to the war in Iran
(CNN) — Brazilian oil production and exports have hit record highs this year, largely due to increased demand from China as the US-Iran war continues to reshape global trade and geopolitical relationships. The change highlights a global race…
Oil prices near US$100 a barrel as Saudi oil facility attack raises supply risk
Heightened geopolitical tensions are pushing global crude benchmarks towards the critical US$100-a-barrel threshold, and investment banks have lifted their end-2026 price forecasts, dampening import appetite in China – the world's largest…
Oil nears $100 after Saudi Arabia says energy infrastructure was attacked
Brent, the international oil benchmark, touched $99 per barrel Tuesday after Saudi Arabia reported an attack on energy assets that caused temporary pauses in operations. U.S. crude oil also rose by more than 2.5% to nearly $94 per barrel. Wholesale…
Opinion | Trump's Venezuela oil deal: why China can wait and watch
When US President Donald Trump announced on August 28 that the United States had secured majority control over some 65 billion barrels of Venezuelan oil through a private company, the North American Blue Energy Partners (NABEP), he called it…
Oil price approaches $100 a barrel after attacks on Saudi oil facilities - business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The global economy faces the prospect of $100 a barrel oil again, as the conflict in the Middle East continues. Brent crude has risen back…
Opinion: Oil patch M&A boom signals confidence in Canada's gas export superpower strategy
Please log in to bookmark this story. Create Free Account Canadians have always appreciated validation from foreigners. Last week, London-based Shell PLC validated the country's potential as an energy superpower by closing its $22-billion takeover…
Oil Prices Are Once Again on the Brink of $100
Oil prices surge toward $100 as Houthi attacks, U.S. strikes on Iranian tankers and renewed Middle East tensions rattle markets. Europe's Gas Prices Surge as Storage Fears Return European natural gas prices have jumped to €75 per MWh ($25.5…
What smart people are saying about oil prices surging back toward $100
Markets are worried about oil again. Oil prices have jumped, sparking a sharp surge in US gas prices that culminated in record high prices at the pump for the Labor Day weekend. Markets are digesting a series of fresh strikes in the Middle East…
Trump: Oil prices 'will drop precipitously' after Iran war win
President Trump on Monday said oil prices “will drop precipitously” after the Iran war is won, as Iran seeks to maintain its control of the Strait of Hormuz with a “ restricted zone.” “Oil prices will drop…
Argentina to file criminal case against oil company operating in Falklands
Vanessa Buschschlüter Latin America online editor The Argentine government has said that it would file criminal charges against oil company Navitas Petroleum for operating in seas off the Falkland Islands. The move came just days after…
Trump's oil price promise was just struck by Houthis defying Hegseth
President Donald Trump tied victory over Iran to rapidly falling oil and gasoline prices Monday night—just as renewed Houthi attacks on Saudi Arabia exposed how military success could still leave the region's energy system under sustained…
Markets Move To The Downside Amid Uptick In Oil Prices
Oil prices moving upward. Growing conflict in Iran impacts Wall Street. FedWatch tool stands at 60% likelihood of interest rate hike. We're starting a shortened week markedly lower after a tough trading day Friday amid tough talk surrounding the…
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure
Oil prices extended their rally on Tuesday as escalating U.S.-Iran tensions fueled concerns over potential disruptions to Middle East energy supplies and shipping through the Strait of Hormuz. Brent crude futures climbed about 0.1% to $97.20 per…
Asian shares and US futures are mixed, while oil prices creep higher
Asian shares and U.S. futures were mixed Tuesday after markets on Wall Street were closed for the Labor Day holiday. Tokyo 's Nikkei 225 gave up early gains, falling 0.3% to 66,170.34 after the government reported that the economy grew at a…
Uganda to Become World's Newest Oil Exporter With Pearl Sweet
Uganda is set to become the world's newest oil exporter, with commercial shipments of its Pearl Sweet grade to start in December and increase to 230,000 barrels a day within three years. The African nation's energy minister and other senior…
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