Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
JP Morgan struggling to forecast oil prices due to US-Iran war
Investment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that 'we simply don't know how to model the endgame'. The bank said it 'assumed' at the…
JP Morgan struggling to forecast oil prices due to US-Iran war
Michael Race Business reporter, New York Investment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that 'we simply don't know how to model the…
Why One Saudi Pipeline Is Crucial to the Global Oil Market
Global oil supply has been squeezed for months as the impasse over reopening the Strait of Hormuz continues. Now, the market is grappling with another setback: the closure of Saudi Arabia's East-West pipeline. The conduit has been a key relief…
Oil pares losses as market weighs Saudi supply concerns, Middle East tensions
Oil prices pared earlier losses on Friday as markets assessed Saudi supply alongside concerns about a widening Middle East conflict. SCROLL TO CONTINUE WITH CONTENT Brent crude futures fell by 33 cents, or 0.31 percent, to US$104.49 a barrel by…
Iran says it struck oil tanker in Strait of Hormuz
Iran says it struck an oil tanker that was attempting to “illegally pass” through the Strait of Hormuz. Tehran's paramilitary Iranian Revolutionary Guard Corps (IRGC) said in a statement shared by state media that it attacked a…
Europe Oil Supply Pressure Mounts After Attack Cuts Saudi Sales
Europe's oil refiners are paying eyewatering premiums for cargoes, as the shutdown of Saudi Arabia's East-West pipeline forces the region's buyers to scramble for alternatives with fuel prices soaring. Saudi Aramco has responded to the attack on…
Oil prices fall on optimism that more Saudi crude will reach markets
Sept. 17 (UPI) -- Oil prices fell Friday as investors were optimistic that Saudi crude would reach global markets and ease concerns about supply despite new fighting between Saudi Arabia and Yemen's Iranian-backed Houthis Brent crude futures, the…
Donald Trump Just Made India's Oil Balancing Act Even Trickier
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, New Delhi-based oil reporter Rakesh Sharma looks at the repercussions of shifting US energy policy for India. For the world's…
Oil prices swing at end of up-and-down week - TT
A diesel fuel nozzle at a Chevron truck stop in Tracy, Calif. (David Paul Morris/Bloomberg) Wall Street is drifting toward the finish of an up -and-down week. The price for a barrel of Brent crude, the international standard, got to nearly $110…
Orlen CEO Seeks to Diversify Supplies as Strikes Halt Saudi Oil
Poland's Orlen SA, the biggest oil company in the European Union's east, is seeking to diversify crude supplies as the Middle East conflict disrupts deliveries from key partner Saudi Arabia. Chief Executive Officer Ireneusz Fafara said in an…
Oil Prices Fall for Third Day as WTI Slips Below $100
Oil prices fell for a third day Friday, with WTI crude slipping below $100 a barrel as expectations of restored Saudi pipeline flows eased immediate supply concerns. Brent crude futures fell 2.6% to $102.14 a barrel, while West Texas Intermediate…
Stock market today: Dow, S&P 500, Nasdaq slip as oil prices rise
Yahoo Finance's Brian Sozzi reports: A worrisome week for humanity is a cash-in week for cybersecurity investors. Shares of top cybersecurity names such as Okta (OKTA), CrowdStrike (CRWD), and Palo Alto Networks (PANW) have ripped this week amid…
Stock Futures Rise as Oil Extends Losses, Treasury Yields Rise
U.S. stock futures extended gains and oil prices continued to fall in early European trade, though Treasury yields largely rose as investors brace for more rate hikes to come. Momentum returned to the trade in artificial-intelligence stocks, with…
Iran says it strikes an oil tanker, and other Mideast developments
Iran says it has struck an oil tanker trying to transit the Strait of Hormuz. And South Korea says it is considering expanding the operations of a naval operation in the Gulf of Aden off the Arabian Peninsula to protect its ships and oil routes.
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