Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Renewed Iran Fighting Will Sustain Shift Away From Oil
Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. W elcome back to Current Climate. The resumption of hostilities between the U.S. and Iran sent oil and gasoline prices…
The Government Wants to Turn Abandoned Oil Rigs Into Rocket Launch Pads
Hundreds of offshore oil rigs have neared the end of their lives, but they remain perched high above the surface of oceans while the wells beneath them have run dry. Now, the government has proposed a plan to repurpose the offshore rigs and use…
FTSE 100 flat as oil price rises amid Middle East tensions
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. The FTSE 100 struggled for direction on Monday, while the…
Oil prices jump after weekend US and Iran attacks
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. Oil prices have shot up further after US and Iran attacks…
Gov't Reviews Oil Supply As Middle East Crisis Continues
The government has launched an emergency review of crude oil supply conditions as tensions in the Middle East escalate following Iran's reclosure of the Strait of Hormuz and recent U.S. strikes. The Ministry of Trade, Industry and Resources said on…
Oil volatility is creating a 'win-win' trade strategy
Oil prices jumped after President Donald Trump reinstated the blockade on the Strait of Hormuz. The move follows the latest rounds of strikes between Iran and the U.S. over the weekend. The volatility is creating a unique opportunity in the options…
US Stock Futures Fall as Mideast Tensions Flare Anew, Oil Climbs
US stocks dropped before the bell on Monday as investors assessed tit-for-tat attacks between the US and Iran and conflicting information over the status of the Strait of Hormuz. Contracts for the S&P 500 Index were 0.4% lower at 8:20 a.m. in New…
Iran Isn't the Only Conflict Vexing the Oil Market
The end of the Iran war, despite all the ups and downs in the ceasefire talks, has solved one oil problem. The price of crude has fallen to less than $75 a barrel, roughly where it was before the conflict began in February. But the almost…
Oil jumps 5% after Trump reimposes Iran blockade
The price of oil jumped more than 5% after President Donald Trump declared on social media Monday morning that the U.S. would be resume its blockade on Iran and be “reimbursed” for helping ships transit the Strait of Hormuz. U.S.
Oil Climbs, US Futures Dip on Fresh Iran Strikes: Markets Wrap
Oil jumped and US equity futures fell after the US launched another round of strikes against Iran, while conflicting claims over the status of the Strait of Hormuz heightened uncertainty. S&P 500 contracts dropped 0.2% in early trading Monday after…
Oil jumps 4 percent as new military strikes threaten Hormuz shipments
Oil prices surged over 4 percent on Monday as energy shipments via the Strait of Hormuz remained under threat, with the US and Iran announcing renewed military strikes. SCROLL TO CONTINUE WITH CONTENT Brent crude futures climbed US$3.10, or 4.08…
Greenfire to Buy Oil Producer Connacher for C$1.3 Billion
Greenfire Resources Ltd. agreed to acquire rival Connacher Oil and Gas Ltd. for C$1.277 billion ($903 million), the latest takeover in Canada's oil sands after a wave of consolidation last year. Greenfire will purchase the operator of the Great…
Watch Tech Stocks Slide as Oil Climbs on Hormuz Standoff
Tech Stocks Slide as Oil Climbs on Hormuz Standoff A selloff in tech giants sent stocks lower, with the market also falling as oil jumped after clashes over the Strait of Hormuz raised concerns about a disruption in energy supplies that could fuel…
U.A.E. Oil Production Surges After OPEC Exit
The U.A.E. boosted crude output by that much in June from the previous month after quitting the Organization of the Petroleum Exporting Countries to escape production quotas and bring oil to the market on its own terms.
OPEC Further Cuts This Year's Oil Demand Forecast
The Organization of the Petroleum Exporting Countries further lowered its global oil-demand growth forecast for this year, as renewed fighting between the U.S. and Iran once again threatens crude flows and a recovery in Gulf production. The group…
Receive a Daily briefing on Oil Industry News
Get Started