Oil Industry News
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Vulnerable energy markets to raise oil above $100 - analyst (CL1:COM:Commodity)
Global energy (XLE), (AMLP), (VDE), (XOP) markets are more vulnerable than they were earlier this year, and continued regional escalations could push crude oil prices (CL1:COM) above $100 per barrel within weeks, according to Arne Rasmussen, chief…
Houthi threats give oil markets a '2-chokepoint problem' - TT
The Gas King U-turned to head toward the Suez Canal in the north of the Red Sea. Bab el-Mandeb is to the south. (Bloomberg) Houthi threats against Saudi-linked shipping at the Bab el-Mandeb Strait prompted tankers and other vessels to divert, pause…
Namibia Fuel Retailer Nasan Sees Oil Growth After Vitol Deal
Nasan Energies, a Namibian fuel retailer that recently bought stations from Vitol Group, plans to expand operations to service the country's offshore oil industry that includes TotalEnergies SE and Shell Plc. The company anticipates “big…
Oil climbs over 3% to near six-week high as conflict threatens key oil transit routes
July 22 (Reuters) - Oil prices rose to a near six-week high on Wednesday, with Brent crude surpassing $95 a barrel, on mounting concerns about disruptions to Middle Eastern supply routes because of escalating hostilities between the U.S.
Rising oil prices weigh on US futures ahead of Big Tech results
By Gregor Stuart Hunter and Johann M Cherian July 22 (Reuters) - Oil prices surpassed $95 per barrel on Wednesday as tensions intensified in the Middle East, pressuring U.S. equity futures ahead of key Big Tech earnings, while the dollar dipped…
Tourmaline Oil Corp. stock rises Tuesday, outperforms market
Shares of Tourmaline Oil Corp. TOU advanced 1.89% to C$63.66 Tuesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.17% to 35,369.08. Tourmaline Oil Corp.
Oil Jumps 4% as Market Is Roiled on Three Fronts
International oil benchmark Brent jumped this morning as pressure intensifies on three fronts— the Strait of Hormuz, Bab al-Mandeb, and the Black Sea. Overnight, at least two oil tankers headed towards the Bab al-Mandeb chokepoint in the Red…
Big Oil Set to Reap Profit Bonanza From Soaring Fuel Prices
The world's Big Oil companies are set for another bumper set of quarterly results after the Iran war sent crude prices soaring — and fuels even higher. Earnings from the five supermajors combined will likely be the third-highest on record…
Norway's national oil company profits double to $11.5bn amid war on Iran
Profits at Norway's state oil company nearly doubled to $11.5bn (£8.6bn) in the three months to the end of June, as earnings were boosted by the jump in oil and gas prices caused by the US-Israel war on Iran. Equinor benefited from a decision…
Oil prices continue to climb as fighting in Iran continues - TT
(David Paul Morris/Bloomberg News) More climbs for oil prices have come after the continued attacks between the United States and Iran. Rising oil prices are again pushing inflation higher, just as increases for prices were slowing more than…
Oil prices climb to six-week high as hopes of de-escalation in Iran diminish
Oil prices climbed on Wednesday to a six-week high after the U.S. struck Iran for the 11th night in a row. West Texas Intermediate's contract for September delivery CL.1 CLU26 advanced 3.5% to $87.30 a barrel, up 17% in the past month. Brent…
USD Is Little Changed As Oil Jumps (undefined:DXY)
While there is much consternation from the American pundits and think tanks about China's shock as it dominates auto manufacturing and value-added manufacturing, the two shocks from the US are more pressing for investors. The US dollar is narrowly…
'Everything Is Going Wrong at the Same Time,' Oil Analyst Says
Multiple crises at three different choke points for oil flows have caused a “poly-crisis,” pushing benchmark Brent crude to its highest levels since early June, according to Sasha Foss, energy markets analyst at Marex. 'Everything is…
India steps up energy shift as costs and tariff pressures mount - oil blending push sparks backlash
India is doubling down on the adoption of alternative fuels as it faces energy supply disruptions from the war in Iran and the U.S. threat of tariffs on Russian oil importers. It is testing biogas as a replacement for compressed natural gas and…
U.S.-Iran Conflict Lifts Oil, Helps Keep Yen Near 40-Year Lows -- Update
American forces successfully completed the 11th straight evening of strikes against Iran, the U.S. Central Command said in a post on social-media platform X. The forces 'targeted military operations centers, maritime capabilities, aircraft hangars…
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