Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump's Promise of Lower Oil Prices Clashes With Industry Fears
President Donald Trump and his officials tell Americans almost daily that the spike in fuel costs is a temporary blip that will reverse just as soon as he reaches a deal to end the war in Iran. The oil industry begs to differ.
Trump's Emergency Oil Sails to Europe as War Upends Energy Flows
A massive release of oil from US emergency reserves that has started flowing to American refiners is also supplying fuelmakers in Europe, and potentially in Asia, as the Iran war upends global energy markets. Global trading houses have sold at…
Middle East war: After oil and gas, concerns grow over minerals crunch
Until war erupted on 28 February with the Israeli-US bombing of Iran and counterstrikes across Gulf States, a wide range of key minerals and related products was available, according to the UN Economic Commission for Europe (UNECE). But as the…
Bloomberg Surveillance: AI, Oil, and US-Iran Latest
The economy and the markets are 'under surveillance' as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join…
Republican lawmakers attempt to shield big oil from climate lawsuits in 'alarming' bills
Republican lawmakers are attempting to shield big oil from having to pay for its contributions to the climate crisis, alarming environmental advocates. New House and Senate bills, led by Harriet Hageman, a Wyoming representative, and Ted Cruz, a…
Oil Executives Warn Trump of Price Surge Lasting Months - TT
A driver refuels a tractor with diesel fuel at a truck stop in Tracy, Calif. (David Paul Morris/Bloomberg) President Donald Trump and his officials tell Americans almost daily that the spike in fuel costs is a temporary blip that will reverse just…
View: The oil market 'is lying to us,' oil execs say
Big Oil is making money but losing sleep. Sure, high oil prices are nice; we'll find out next week exactly how nice when the majors report first-quarter earnings. But what goes up must eventually come down. And even though US oil executives and…
What would a permanent 'Tehran's tollbooth' on oil mean for the world?
Iran's plan to extract a $2m payment from tankers using the strait of Hormuz could raise costs for years to come A second round of peace talks between the US and Iran has begun amid renewed attacks on oil tankers in the strait of Hormuz and a US…
Alberta examines three northern routes for oil pipeline to serve Asia
Alberta is looking at three options for a new oil pipeline to ship 1 million barrels a day through northern British Columbia, according to people familiar with the matter, as Canadian officials make plans to sharply increase energy exports to Asia.
Turner Prize: Mythical shapes and the impact of oil explored in 2026 shortlist
Steven McIntosh Entertainment reporter A spoken-word performance about life in the industrial north and sculptures which examine the political history of oil are among the shortlisted artworks for this year's Turner Prize. The works by artists…
Imperial Oil Ltd. stock rises Wednesday, outperforms market
Shares of Imperial Oil Ltd. IMO advanced 1.21% to C$171.26 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.43% to 33,955.11. Imperial Oil Ltd. closed…
Oil Jumps as Iran Tensions Simmer With Hormuz Blocked
Oil jumped amid fresh signs of escalation in the Iran war, dimming prospects for a imminent resumption of flows through the Strait of Hormuz. West Texas Intermediate futures rose as much as 5.8% to trade above $97 a barrel in New York, after…
US Futures Decline as US-Iran Impasse Continues, Oil Price Jumps
US stock-index futures fell before the bell on Thursday as traders awaited developments in the Middle East and pored over corporate earnings. Contracts for the S&P 500 Index declined 0.3% at 8:59 a.m. in New York, indicating that the gauge will…
Canada's IEA Oil Promise Adds Little New Crude to Tight Market
The Canadian government's pledge to supply 23.6 million extra barrels of oil in the coming months reflects natural growth in production, according to BMO Capital Markets, rather than a specific effort to produce more crude. The promise made by…
How the Iran war has stoked competition between India and China for Russian oil
India and China are now locked in competition over crude supplies, mainly from Russia and, to a lesser extent, Saudi Arabia. So far in April, both India and China are going head-to-head, with each securing equal supplies of Russian crude. Saudi…
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