Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Japan to boost joint oil stockpiles with UAE
Tokyo has won a commitment from the United Arab Emirates to increase joint crude oil stockpiles held in Japan by UAE companies, according to Economy, Trade and Industry Minister Ryosei Akazawa on Tuesday. Akazawa said he made the request to expand…
Even if an Iran deal calms energy markets, one oil stock can still stand out
While the broader market grapples with geopolitical instability, Shell plc (SHEL), along with other large integrated oil companies, have benefited from higher oil prices and should warrant investor attention. Despite the dual blockades by both Iran…
Oil plunges and stocks soar: Markets are swinging as traders eye an Iran peace deal
Markets are getting in position for the Iran war to soon end. A report from Axios early Wednesday said that the US and Iran could are nearing a peace deal. Markets have been eyeing a possible deal for weeks, though progress on a resolution has been…
Stocks soar and oil sinks on fresh peace deal hope
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Stocks soared on Wednesday on renewed hopes a peace deal…
An Iran Deal Wouldn't Mean Instant Oil Relief
Energy market research company Rystad Energy said issues such as repricing transit insurance, restoring vessel operator access and regaining shippers' confidence mean oil flows will take at least six to eight weeks to recover to near pre-conflict…
Crude oil futures slump over 11%
Crude oil price slumped over 11 per cent to Rs 8,588 per barrel in futures trade on Wednesday, tracking sharp losses in global benchmarks amid signs of a potential breakthrough between the US and Iran. On the Multi Commodity Exchange (MCX), crude…
Oil prices drop below 100 dollars a barrel on renewed hopes over peace deal
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Oil prices have fallen sharply to below 100 US dollars a…
The Latest: US military fires on Iranian-flagged oil tanker as Trump presses for deal to end war
A U.S. fighter jet on Wednesday fired on an Iranian oil tanker in the Gulf of Oman as it tried to breach the U.S. blockade of Iran's ports, the U.S. military said. The attack occurred as Iran and the U.S. are officially in a ceasefire and as the…
Oil prices ease and markets rally as Trump works towards deal with Iran
Oil prices have eased and stock markets rallied as Donald Trump touted “great progress” towards a “final agreement” with Iran, while momentum in AI-driven trading accelerated. The US president said he would briefly pause…
Greens only party telling truth on need to stop oil and gas drilling - Mackay
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The Scottish Greens are the only party…
Iran war jolts China's well-oiled manufacturing hub
Vacuum cleaners and vapes could get more expensive if the Iran war drags on for much longer, Chinese factory owners and traders warn, as the world's manufacturing hub reels from 'crazy' costs. SCROLL TO CONTINUE WITH CONTENT Weeks of US-Israeli…
Ecuador Is Selling More Debt in Global Markets Amid Oil Windfall
Ecuador is offering more of the dollar bonds it first sold in January, taking advantage of higher oil prices and sustained investor appetite for emerging-market debt. Initial price talks for a tap of the notes due in 2034 and 2039 are at 8.7% and…
Oil prices plunge amid reported progress in US, Iran talks
Oil prices plunged around midday on Wednesday as reports emerged that the U.S. and Iran are nearing an agreement on a one-page memorandum that could result in the reopening of the Strait of Hormuz. The international benchmark, Brent crude oil…
U.S. Crude Oil Stockpiles Fall for Second Straight Week
U.S. crude-oil inventories fell for a second consecutive week while product stocks extended their decline, according to data released Wednesday by the U.S. Energy Information Administration. Commercial crude-oil stocks excluding the Strategic…
Oil Prices Plunge as China Calls for Ceasefire in Iran War - TT
Boats travel near the seafront on Qeshm Island, Iran, in the Strait of Hormuz. (Getty Images/Bloomberg) Markets on Wall Street soared overnight and U.S. crude prices plunged 13% after China's foreign minister on May 6 called for a comprehensive…
Receive a Daily briefing on Oil Industry News
Get Started