Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Shares Rise as Oil Rally Resumes -- Energy Roundup
Stocks in the energy sector rallied alongside oil prices, as Brent crude rode nearly 5% to $103 a barrel. U.S. crude futures rose as the Pentagon sent a third aircraft-carrier strike group and more troops to the Middle East while President Trump…
Oil and gas industry expected surplus - but war brought shortage
In 2023, the International Energy Agency predicted that by 2028 the world's oil companies would produce more oil than people wanted to buy. Prices responded to that and similar projections of slowing oil demand, dropping too low to attract…
Supreme Court Weighs Shield for Oil Companies as New Term Opens
A yearslong legal campaign to hold the oil industry accountable for climate change risks running aground in the US as the Supreme Court takes up a case that threatens to undercut dozens of lawsuits. The justices open their new term Monday with a…
Carney Puts Oil Pipeline at Center of Bid to Keep Alberta in Canada
TORONTO—Weeks before a referendum on Alberta's future in Canada, Prime Minister Mark Carney on Thursday sought to strengthen ties with the province by designating a proposed oil pipeline to the Pacific coast a “project of national…
Carney hopes an oil pipeline can help Canada fight a trade war
Jessica Murphy Canada digital editor Prime Minister Mark Carney has announced that Canada will fast-track the approval process for a 1,250km (775 mile) oil pipeline project to the Pacific coast. Carney argues the Pacific Link project is key to…
Crude oil exports from strait of Hormuz largely return to pre-war levels
Exports of crude from the strait of Hormuz have largely returned to levels seen before the outbreak of the Iran war, as oil producers and the shipping industry have found alternative ways of transporting crucial fuel out of the Middle East.
ASX eyes gains after wild night on markets; Oil prices climb
More swings in the bond market are rattling stock markets around the world. On Wall Street, the moves were relatively modest after US bond yields cranked higher but then gave back the gains later in the day. The S&P 500 rose 0.3 per cent and was on…
Oil Is Again Flowing Out of Hormuz
Over the past week, there has been a remarkable turnaround in supplies of crude oil making it out of the still-threatened Strait of Hormuz, with oil volumes returning nearly to prewar levels. What is not leaving the strait—or many parts of…
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Canada fast-tracks Pacific oil pipeline to reduce dependence on US
Canadian Prime Minister Mark Carney on Thursday fast-tracked a proposed million-barrel-a-day oil pipeline to the Pacific Coast, moving to reduce the nation's dependence on the United States and heal ties with oil-rich Alberta as separatists push…
Canada fast-tracks West Coast oil pipeline - TT
The Trans Mountain pipeline expansion opened in 2024, dramatically increasing Canada's west-coast oil export capacity. (James MacDonald/Bloomberg) Prime Minister Mark Carney designated the Pacific Link pipeline a national interest project Oct. 1…
Ukraine persists with Russian oil refinery strikes, defying Trump on fuel price warnings
Ukraine is pressing on with strikes on Russian oil refineries, defying Donald Trump, who blames the attacks for exacerbating a global diesel shortage and pushing up fuel prices. Kyiv struck an oil facility in Russia's southern Samara region…
Current price of oil as of Oct. 1, 2026
Carney Invokes New Powers to Fast-Track West Coast Oil Pipeline
Prime Minister Mark Carney is expediting regulatory approval for a new, high-capacity oil pipeline to expand Canada's access to Asian markets, with the aim of starting construction in September 2027. On Thursday, Carney announced his government is…
Exclusive | Democratic Senators Challenge Trump Officials on Pentagon's Venezuela Oil Deal
Senate Democrats are challenging the legality and prudence of the Pentagon's plan to take a stake in a Venezuelan oil company, laying the groundwork for a potential probe into the arrangement. The Pentagon's deal for a position in North American…
Oil prices top $100 again as 7-month Iran war continues - TT
Diesel prices are displayed at a gas station in Carlsbad, Calif. (Gregory Bull/AP/file) Brent crude, the international standard, topped $100 a barrel again. Oil prices have been swinging wildly in recent months amid uncertainty about when the war…
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