Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
New drones are giving Ukraine a battlefield advantage and ravaging Russia's oil industry
Ukraine's constant innovation in drone technology is giving its military an edge on the battlefield, dealing major blows to Russia's army and economy. While Russia invaded Ukraine four years ago with superior numbers, that advantage has since been…
Ex-Nigerian oil minister denies taking bribes
Steve SwannSouthwark Crown Court A former Nigerian oil minister accused of being treated to luxury home stays and lavish spending sprees in the UK in exchange for granting government contracts has denied asking for or taking bribes. Diezani…
Iran: Israel's Oil Depot Strikes Endanger Environment, Health
Israeli attacks on four oil depots around Tehran on March 7, 2026, may cause long-term health and environmental harm for civilians. Strikes on primarily civilian infrastructure causing foreseeable civilian harm are violations of international…
What does a U.S. naval blockade of Iran mean for oil flows?
The U.S. military said it would block shipping traffic in and out of Iran's ports starting at 1400 GMT on Monday, a move that would prevent roughly 2 million barrels of Iranian oil a day from entering the world's markets, further tightening global…
'A disturbing lack of integrity': Columbia students file complaint against energy thinktank taking big oil money
A thinktank at Columbia University is engaging in deceptive trade practices by hiding the extent of its financial ties to the fossil fuel industry, according to a first-of-its-kind administrative complaint filed by student activists and shared with…
China's Oil and Gas Imports Shrink on Persian Gulf Disruptions
Chinese crude oil and natural gas imports fell in March, as the supply crunch in the Persian Gulf began to affect shipments. Crude purchases dropped 2.8% from the previous year to 49.982 million tons, although the figure was higher than February…
Oil prices ease on hopes of new US-Iran peace talks
Oil prices dipped in early Asian trade on Tuesday as hopes of more peace talks between the US and Iran eased concerns about further disruptions to energy supplies. The price of global benchmark Brent crude fell by about 1% to $98.40 (£72.85)…
Oil-producing countries showing interest in Korea's oil storage facilities: official
Major oil-producing countries in the Middle East have shown interest in using Korea's crude oil storage facilities amid the prolonged conflict in their region, Seoul's senior industry ministry official said Tuesday. 'An increasing number of…
Blockade Plunges Oil Market Into Fresh Round of Turmoil
President Trump's order to blockade Iranian trade through the Strait of Hormuz and Tehran's promise to continue to choke the strait are leaving global energy markets in even deeper trouble than they were just days ago. It isn't clear how ships can…
Why Stocks Are Breaking Free of Oil Crisis Tyranny
To get John Authers' newsletter delivered directly to your inbox, sign up here. The week started with bad news to digest from the Persian Gulf on the breakdown in ceasefire talks and the Strait of Hormuz blockade, with oil prices rising sharply…
Judges Overseeing Landmark Oil Cases Have Financial Stakes in Oil Companies
The Nation Weekly Fridays. A weekly digest of the best of our coverage. By signing up, you confirm that you are over the age of 16 and agree to receive occasional promotional offers for programs that support The Nation 's journalism. You may…
Qantas lifts fuel cost forecast as Middle East war jolts oil markets
Australia's Qantas Airways said on Tuesday it has raised its fuel cost outlook and has not started its planned share buyback, citing sharply higher and volatile jet fuel prices after the war in the Middle East cut oil supply. SCROLL TO CONTINUE…
Oil Falls on Hopes for U.S.-Iran Peace Talks
0008 GMT — Oil falls in early Asian trade. President Trump said that the “right people” in Iran still want a U.S.-Iran deal after talks in Pakistan over the weekend ended without an agreement. “This suggests financial…
This oil-controlling moisturiser is a winning summer skin upgrade
Daily Mail journalists select and curate the products that feature on our site. If you make a purchase via links on this page we will earn commission - learn more What if you could get the glow of a £240 luxury moisturiser without the heavy…
US Natural Gas Futures Rebound on Oil Price Gain, Cooler Outlook
US natural gas futures rose alongside oil prices as renewed risk to energy flows out of the Persian Gulf triggered financial inflows into baskets of energy products. Weather forecasts also shifted cooler, indicating modestly higher demand for the…
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