Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
U.S. Races to Sell Venezuelan Oil, Transforming Ties With Former Foe
The United States government is brokering the sale of millions of barrels of Venezuelan oil, which have been trapped in the country since the Trump administration started a partial blockade against tankers carrying crude from Venezuela, according…
US military seizes Venezuela oil tanker under Trump sanctions
The US military has seized another oil tanker at sea in support of Donald Trump 's sanctions against Venezuela, military officials announced Thursday. Veronica, a crude oil tanker that marine records suggest is sailing under a Guyanese flag, was…
The energy trade that excites VanEck's CEO - and it's not oil
A major exchange-traded fund manager suggests the oil trade won't provide much upside ahead. VanEck CEO Jan van Eck isn't excited by traditional energy plays, which include the year's volatile crude trade. 'The core 'Old Energy' world is just a…
Why oil markets are shrugging off Trump's plans for Venezuela
Venezuela is a once-in-a-generation drug interdiction story, but not yet an oil wealth story. You could see it in the futures strip. Traders took two days to see through it, yet the press continues to run with the story, with an oil fever all of…
Venezuela's Dark Fleet of Oil Tankers Emerges - TT
Supertanker Rene, which appeared to be in China at the end of December, re-emerged off the coast of Venezuela over the weekend. (Bloomberg) [Stay on top of transportation news: Get TTNews in your inbox.] The informal fleet of crude tankers that…
Oil Tanker Rates Jump as US Push Into Venezuela Shifts Flows - TT
The Marlin Shikoku crude oil tanker moored off the Port of Long Beach. (Bing Guan/Bloomberg) [Stay on top of transportation news: Get TTNews in your inbox.] The shipping market is being shaken up by Washington's intervention in Venezuela, as the…
US completes first sale of Venezuelan oil
The official also said additional sales are expected in the coming days and weeks. Semafor first reported the deal, including that revenue from it is being held in bank accounts, including one in Qatar, that are controlled by the U.S. government.
Oil markets are being pulled in every direction. Here's how market watchers are navigating it
Energy markets have been rocked by volatility in recent days, as investors weigh a violent crackdown on civil unrest in oil-rich Iran – and the response from Washington. The possibility of U.S. military action against Iran was only the…
:max_bytes(150000):strip_icc()/GettyImages-1419556963-f6206deddc9a4debaad408ef7f5ad6d6.jpg)
Why Venezuela Can't Pump Its Oil, Despite World's Largest Reserves
Venezuela's collapse in oil production stems from nationalizations that drove out technical expertise, sanctions that blocked investment and buyers, and having a heavy crude that's expensive to extract. Rebuilding the industry would require a…
Trump administration seizes sixth oil tanker with Venezuelan ties
U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker that the Trump administration says is linked to Venezuela, marking the latest step in a broader effort to control the country's oil shipments. Homeland Security Secretary…
Imperial Oil Ltd. stock rises Wednesday, outperforms market
Shares of Imperial Oil Ltd. IMO rose 3.11% to C$137.43 Wednesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.14% to 32,916.47. Imperial Oil Ltd. closed 2.6%…
U.S. Makes First Venezuelan Oil Sale, Valued at $500 Million
The Trump Administration secured its first sale of Venezuelan oil since its aggressive military operation in the South American country that led to the capture of the nation's president, Nicolás Maduro. The sale, confirmed to TIME by a Trump…
US seizes Venezuelan oil tanker as relations improve with Rodriguez
“The Veronica is the latest tanker operating in defiance of President Trump's established quarantine of sanctioned vessels in the Caribbean, proving the effectiveness of Operation Southern Spear yet again,” SOUTHCOM's X account said…
Asian shares are mostly lower and oil sinks $2 after Trump says Iran stopped killings
HONG KONG -- Asian shares were mostly lower and U.S. futures also fell Thursday after Wall Street retreated, dragged down by falls in Big Tech stocks. Oil prices fell more than $2 a barrel after U.S. President Donald Trump said he was told…
Wall Street steadies as Big Tech bounces back and oil prices ease
Getting your Trinity Audio player ready... NEW YORK (AP) — Wall Street is steadying on Thursday as tech stocks bounce back following an encouraging report from a Taiwanese chip giant and as oil prices ease sharply. The S&P 500 rose 0.6% and…
Receive a Daily briefing on Oil Industry News
Get Started