Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil Prices Fluctuate as Traders Parse Middle East Developments
Iran-backed Houthi militants seized the port city of Mokha on Yemen's west coast Thursday, The Wall Street Journal reported, citing Yemeni and Saudi officials. The move increases their control near the Bab al-Mandeb chokepoint for energy exports…
Shares fall as oil surge fuels inflation fears
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. Stock prices in London closed lower on Thursday, as oil…
Oil Climbs as Markets See a Long Iran War
Oil landed just short of $109 a barrel late Thursday afternoon, some $8 higher over yesterday as markets see the intractability of the US-Israel war with Iran — given Donald Trump's inability to extract his country and Iran's unwillingness…
Oil price forecasts climb as Wall Street gives up on a quick end to the global oil shock
Around the time Ben Shelton was polishing off his US Open victory over Carlos Alcaraz in the wee hours of Wednesday morning, the price of oil was making some waves of its own, climbing back above $100 per barrel. The break into triple digits was…
Trump's Venezuela oil venture eyes 150% output hike by 2028 - TT
Petroleos de Venezuela SA oil rigs on Lake Maracaibo in Cabimas, Zulia state, Venezuela, on Sept. 4. (Gaby Oraa/Bloomberg) North American Blue Energy Partners plans to raise Venezuelan crude output to 500,000 barrels a day by the end of 2028 from…
NYMEX Overview: Oil Futures Surge Above $100 on Gulf Supply Risks -- OPIS
Oil futures surged midday Thursday as escalating attacks on Gulf shipping and renewed Houthi strikes on Saudi Arabia heightened concerns over disruptions to global energy supplies. Both crude benchmarks crossed $100/bbl on Thursday, West Texas…
Exclusive | The Relentless Crypto Billionaire Who Moved to Venezuela in Pursuit of Oil
Cryptocurrency billionaire Fred Ehrsam spent months living in a luxury hotel in Caracas, building a rolodex of connections in a long-shot bid to become one of Venezuela 's biggest oil producers. Without a track record in oil and gas, the…
Asian Stocks, Bonds to Drop on Oil, Inflation Woes: Markets Wrap
Asian stocks and bonds were set for declines after a surge in oil prices sparked a selloff in US markets, while the latest inflation data reinforced bets on an imminent Federal Reserve rate hike. Brent crude climbed above $107 a barrel on Thursday…
Iran-backed Houthis capture Red Sea port, putting more pressure on oil markets
Yemen appears to be sliding back toward all-out war after Houthi rebels backed by Iran seized the key port city of Mokha from allies of the internationally recognized government. Mokha sits on the Bab al-Mandab, a critical shipping choke point and…
Oil, gas and borrowing costs surge as fears over Middle East escalate
The price of oil has jumped to $105 a barrel amid signs the conflict in the Middle East will not be resolved quickly, fuelling fears that inflation could accelerate. With the conflict between the US and Iran in the Gulf intensifying in recent days…
Oil Rises on Escalating Supply-Disruption Concerns
0020 GMT — Oil rises in early trade on escalating concerns over supply disruptions in the Middle East. ANZ Research analysts say that reports of Iran-backed Houthi militants seizing the port city of Mokha on Yemen 's west coast could give…
Shares fall as oil surge fuels inflation fears
Stock prices in London closed lower on Thursday, as oil prices surged above 105 dollars and hotter-than-expected US producer inflation fuelled concerns, while the European Central Bank raised interest rates as expected. The FTSE 100 index closed…
$100 oil is putting China's new role as a 'demand-side OPEC' to the test
Oil is back above $100 a barrel as renewed fighting between the US and Iran raises fears of further supply disruptions in a market already hit by the largest oil supply disruption in history. International benchmark Brent crude breached $100 a…
Asia Confronts Fresh Inflation, Fiscal Threats as Oil Tops $100
Asia's economies will face a fresh test of resilience after oil again crossed the $100 threshold, with inflation running hot and fiscal and monetary policy already tight. Brent oil spiked over $107 a barrel on Friday amid an uptick in attacks in…
Global bond sell-off resumes as surging oil prices stoke fears about inflation
Nervous investors across big economies have been dumping government bonds, driving up the cost of borrowing, as surging oil prices amplified fears about rising inflation. The cost of a barrel of oil jumped 6% to above $107 on Thursday amid concerns…
Receive a Daily briefing on Oil Industry News
Get Started