Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
ONGC Overseas Unit Seeks Operatorship of Venezuela Oil Blocks
Oil & Natural Gas Corp. 's overseas investment arm is seeking to take over operatorship of two shallow onshore oil blocks in Venezuela from state-run Petroleos de Venezuela SA, as the South American nation becomes a key focus after receiving a US…
Oiles Corp 1Q Net Y1.08B Vs Net Y1.20B
Oiles Corp. (6282.TO) Japan 1st Quarter Ended June 30 GROUP 2026 2025 Revenue Y16.83 bln Y16.70 bln Operating Profit Y1.87 bln Y1.68 bln Pretax Profit Y1.82 bln Y1.77 bln Net Profit Y1.08 bln Y1.20 bln Per share Earnings Y36.88 Y41.07 Results are…
Big Oil wants to rig the courts. You'll pay for it on your utility bill.
Ask anyone in California what keeps them up at night and energy costs land near the top of the list. Electricity rates have climbed sharply. Gas prices spike every time there is turmoil overseas. Families are being asked to absorb costs they did…
Stock markets edged higher in early trade amid lower crude oil prices, buying in Reliance Industries
Stock market benchmark indices Sensex and Nifty edged higher in opening trade on Thursday (August 6, 2026) amid lower crude oil prices and buying in Reliance Industries. The 30-share BSE Sensex climbed 201.43 points to 78,782.43 in opening trade.
Oil Rises as Traders Await Formal Deal to Reopen Strait of Hormuz -- Update
Iran and Oman were finalizing a draft agreement Wednesday to reopen the Strait of Hormuz that would give Tehran oversight of ships entering the Persian Gulf but wouldn't allow it to levy tolls or service fees, The Wall Street Journal reported…
Analysts See Decline in U.S. Crude-Oil Inventories
U.S. crude-oil inventories likely fell for a second consecutive week, while product stocks are seen mixed with a drawdown in gasoline and a build in distillate fuel, according to a survey by The Wall Street Journal. Commercial crude stocks are seen…
The Middle East's most dangerous chokepoint has no oil
If months of war between the U.S. and Iran have taught us anything, it's the importance of choke-points. The world now understands why the Strait of Hormuz is so powerful: whoever controls passage can disrupt economies and compel governments far…
Indian Stock Markets Rise: RBI Holds Rates, Crude Oil Prices Fall, New Auction Mechanism
Indian stock markets, including the Sensex and Nifty, experienced early gains driven by lower crude oil prices and strategic buying in key sectors, following the Reserve Bank of India's decision to maintain its benchmark policy rate and upgrade its…
Oil prices tick up despite talks to reopen Hormuz - TT
Crude oil tankers, bulk carriers and vessels anchored off Muscat, Oman. (Elke Scholiers/Bloomberg) Oil prices ticked up despite hopes for a deal setting the stage for talks that might eventually lead to an end to the war in Iran. Shares advanced in…
Oil Declines Amid Growing Optimism Over Reopening of Strait of Hormuz
2333 GMT — Oil declines in early Asian trade amid growing optimism over the reopening of the Strait of Hormuz, a critical waterway through which one-fifth of the world's oil is transported. “Iran said it reached an agreement with Oman…
Oil prices rebound after Houthis say they attacked Saudi tanker
LONDON, Aug 5 (Reuters) - Oil prices rose on Wednesday after Yemen's Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore…
Murphy Oil: Q2 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Murphy Oil Corp. (MUR) on Wednesday reported second-quarter profit of $232.2 million. On a per-share basis, the Houston-based company said it had profit of $1.59. Earnings, adjusted for non-recurring…
What Makes Magnolia Oil & Gas Corp. (MGY) a Strong Investment Bet?
Conestoga Capital Advisors, an asset management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index…
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market
Oil prices eased on Thursday, extending the sharp declines recorded earlier this week as investors balanced hopes for improved shipping access through the Strait of Hormuz with ongoing geopolitical tensions and an unexpected increase in U.S. crude…
Commodities: Oil Sinks As Deal Optimism Grows
Oil prices are selling off aggressively as hopes of a deal between the US and Iran grow. However, markets may be getting a bit ahead of themselves once again. In precious metals, central banks added a net 51t of gold to reserves in June, with H1…
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