Oil Industry News
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Asian markets mixed as tech recovery stutters, oil slips
Asian markets fluctuated Monday as investors struggled to maintain last week's late tech recovery, with traders turning their focus to the upcoming earnings season, while oil prices fell on further supplies passing through the Strait of Hormuz.
Indonesia, Singapore say key oil passage will remain 'accessible'
Indonesia and Singapore vowed on Monday that the Strait of Malacca, a critical oil transit chokepoint in the region, will remain “accessible” even as Iran imposes fees on ships traversing the Strait of Hormuz. Indonesian President…
World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term peace elusive and buffer reserves now drained, it still faces the looming risk of future price spikes.
Saudis Make Biggest Oil Price Cut in Decades as Market Weakens
Saudi Arabia cut the price of its main crude grade for customers in Asia in August by the most in at least 26 years, as a surge of global supply heightens competition for buyers. State producer Saudi Aramco will lower the price of its Arab Light…
Oil Edges Lower on OPEC Increase, Dollar Steady: Markets Wrap
Oil opened lower as energy flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Traders were also focused on the Korean won's first day of 24-hour trading. S&P 500 futures held Friday's gain after US markets were shut…
Oil slips after OPEC+ agrees to raise output targets
Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. SCROLL TO CONTINUE WITH…
Oil, gas tankers cross Hormuz via Oman-side route after U-turns
Oil and gas shipping along a U.S.-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor. Six oil and gas freighters were…
OPEC+ Emerges From War to Threat of Oil Surplus
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, OPEC reporter Grant Smith analyzes the group's latest policy move and looks at how shifts in the oil market could alter its calculus in…
Stocks inch up as oil weighed by supply while earnings loom
By Wayne Cole and Harry Robertson SYDNEY/LONDON, July 6 (Reuters) - European stocks and U.S. futures ticked higher on Monday as the potential for increased energy supplies pulled down oil prices and promised relief from inflationary pressures…
BP Sells Canadian Offshore Oil Project Stake to Equinor
BP Plc is selling its nearly 40% non-operated interest in the Bay du Nord oil project offshore eastern Canada to Equinor ASA, the operator of the development, as the oil major continues to simplify its portfolio. “We're proud of our…
World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
By Dmitry Zhdannikov, Robert Harvey and Ahmad Ghaddar LONDON, July 6 (Reuters) - The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term peace elusive and buffer…
Russia Oil Price Falls to Pre-Iran War Level in Blow to Kremlin
Russia's flagship crude price has slid to levels seen before the conflict in the Middle East, piling more pressure on Kremlin coffers that are already strained by the invasion of Ukraine. The Urals grade averaged $41.66 a barrel at Russia's western…
Oil falls by more than 1% after OPEC+ agrees to raise output targets
By Anushree Mukherjee and Helen Clark July 6 (Reuters) - Oil prices fell by more than 1% on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are…
Watch Oil Glut Fears Rise as Supply Recovery Outpaces Demand | Insight with Haslinda Amin 07/06/2026
Oil Glut Fears Rise as Supply Recovery Outpaces Demand | Insight with Haslinda Amin 07/06/2026 Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the…
The Strait of Hormuz has reopened - why that might be a problem for the oil market: Chart of the Day
As the war has wound down and the US and Iran continue ongoing negotiations, ship traffic through the Strait of Hormuz has begun to pick up, sending increasing amounts of oil to the global market that has been starved for it. That might be a…
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