Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump to propose relaxing methane rules for oil and gas industry
The Trump administration will propose to loosen restrictions that rein in methane from oil and gas production, it announced Wednesday. The Environmental Protection Agency (EPA) said in a press release that in the coming days, it will propose…
WA's oil and gas industry watches impact of High Court ruling closely
A landmark ruling in the High Court has found planning authorities in New South Wales are required to consider global climate change impacts when approving local fossil fuel projects. Industry bodies and consultants are concerned the ruling could…
Tesco stars but oil price gains keep stocks lower
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 outperformed European peers on Thursday as…
Money Quote: Trump's Latest Post on Iran and Oil
📣 'We are having productive discussions with the Islamic Republic of Iran. I want to make it clear to everybody that, while Iran is in very bad condition, both Economically and Militarily, and while the Blockade will remain in full force…
Crude Oil Surge Hits Oil-Sensitive Stocks
On Thursday, during intraday trading, shares of oil marketing companies, aviation firms, paint manufacturers and tyre makers fell by around 1-5 per cent. The decline was attributed to a surge in crude oil prices amid renewed concerns over supply…
Resilient Middle East Oil Trade Learns to Live With Dangers of War
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, Asia Oil Trading Team Leader Serene Cheong explores how the energy industry has adapted to the threat of renewed attacks on shipping in…
Donald Trump says oil is at 'pre-war levels:' what the figures show
Donald Trump has said that oil flows have returned to their levels from before the Iran conflict, though the figures obscure important realities about global energy recovery from a seven-month war shock. On Wednesday evening, the president shared a…
Oil prices surge on worries of shipping attacks and Gulf of Mexico hurricane
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 surged and government borrowing costs…
Tesco stars but oil price gains keep stocks lower
The FTSE 100 outperformed European peers on Thursday as higher oil prices continued to weigh on blue chips. In London, the FTSE 100 index ended down 16.90 points, 0.2%, at 10,441.60. It had earlier traded as low as 10,367.25. The FTSE 250 fell…
Oil Traders Are Increasingly Tuning Out Trump's Iran Rhetoric
On the evening of April 1, President Donald Trump said in a televised address that the US would strike Iran and send it “back to the stone ages” unless it signed a peace deal. Oil prices surged after his comments in early Asian…
Stocks are tumbling as oil prices surge and bond yields hit 24-year highs
Stocks pulled back further from recent all-time highs on Thursday as traders watched oil prices spike and key bond yields resume their march to their highest levels in nearly a quarter century. The records logged earlier in the week didn't last…
Galp Energia and Equinor Get Offshore Brazilian Oil Block
Portugal's Galp Energia and Norway's Equinor have been awarded an offshore oil block in Brazil's Santos Basin. Galp said late Wednesday that it will own a 30% stake in the Rodocrosita block with Equinor owning the remainder and acting as operator.
Oil prices rise sharply on Middle East tensions and US hurricane threat
Oil prices have risen sharply amid fears about escalating tensions in the Middle East and a squeeze on production from the threat of a hurricane off the US coast. Brent crude, the international benchmark, rose by 3.8% to $104 a barrel on Thursday…
Trump to propose relaxing oil and gas methane rules
The Trump administration plans to loosen restrictions that rein in methane from oil and gas production, it announced Wednesday. © Matthew Brown, Associated Press The Environmental Protection Agency (EPA) said in a press release that in the…
Oil Gains as Mideast Tensions Amplify Supply-Disruption Concerns
Houthi militants escalated their conflict with Saudi Arabia, attacking two airports in the kingdom. The assault on King Khalid International Airport in Riyadh killed a Sudanese national and wounded eight other people. A separate attack on the…
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