Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
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…
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…
Houthi Threats Ignite New Oil Price Surge
Houthi attacks are expanding the Middle East conflict into the Red Sea, forcing tankers to reroute and pushing Brent above $91 amid growing fears of prolonged supply disruptions. Aramco Floods the Red Sea With Crude Ahead of Houthi Escalation…
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…
California Wildcatter PCEC Near Deal on Venezuela Oil Fields
Pacific Coast Energy Co., a small California producer, is nearing a deal to operate Venezuelan oil fields as the US-backed government in Caracas presses potential partners to sign contracts by the end of July. The firm is one of several that are…
European markets up slightly as investors await tech earnings, and monitor oil (EUR:USD:)
The annual inflation rate in the UK eased to 2.6% in June from 2.8% in May. The pan-European Stoxx 600 (STOXX) ticked 0.12% higher on Wednesday as investors awaited key results…
The real oil shock from the Iran war might be just beginning
You have reached your maximum number of saved items. Remove items from your saved list to add more. A new front has opened in the war in the Middle East, global oil and refined product inventories are tumbling and oil and gasoline prices are…
Oil prices jump 4% as Rubio says Iran 'not serious' about peace talks
Oil prices were 4% higher on Wednesday, as conflict in the Middle East continued to escalate. U.S. forces carried out their 11th consecutive evening of strikes on Iran overnight. The Strait of Hormuz, key to the shipping of oil, remains a sticking…
The Oil Market Is Much More Vulnerable Than Trump Believes
Peace between the United States and Iran has broken down, and the price of Brent crude oil is rising. While prices are still well below previous wartime peaks, oil markets are once again under pressure—and things are almost certain to get…
Stock Market Today: Oil Approaches $95 as War Squeezes Supply - Live Updates
Oil prices are surging today, as the Middle East and Ukraine wars squeeze energy markets on multiple fronts and supply buffers run low. Futures for Brent crude, the international benchmark, are trading more than $20 above their early-July lows.
IEA warns Mideast hostilities increasing oil supply concerns - TT
Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia. (Simon Dawson/Bloomberg) IEA said it is closely monitoring oil markets as escalating Middle East hostilities…
Oil prices rise to five-week high on US-Iran attacks, Houthi blockade threat
NEW YORK, July 21 (Reuters) - Oil prices climbed about 2% on Tuesday to a five-week high, on worries that energy supply disruptions could worsen in the Middle East due to more attacks between the U.S. and Iran and a threatened naval…
South Korea Secures over 90% of September Crude Oil Needs
The government says it has secured more than 90 percent of its required crude oil supply for September, despite rising supply chain instability in the Middle East due to the intensifying conflict between the United States and Iran. The Ministry of…
Oil Rises Amid Growing Concerns Over Supply Disruptions in Middle East
2336 GMT — Oil rises in early Asian trade amid growing concerns over supply disruptions in the Middle East. “A Kuwaiti oil tanker was attacked in the Strait of Hormuz northeast of Oman by an unknown projectile,” ANZ Research…
Indian Stock Market Declines: Sensex, Nifty Fall on Rising Crude Oil Prices & Bank Sell-off
Indian benchmark indices, Sensex and Nifty, saw declines in early trade as surging crude oil prices and a sell-off in bank stocks dampened investor sentiment, extending a three-day downtrend for the Sensex. Benchmark indices Sensex and Nifty…
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