Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Malaysia's palm oil industry steps up fire prevention efforts as 'Godzilla' El Nino fuels haze woes
KUALA LUMPUR: Malaysia's palm oil industry is stepping up efforts to prevent and manage forest fires as a prolonged drought driven by El Nino raises concerns over both crop production and the sector's environmental reputation. Industry players, led…
Energy Substantiation Says Oil Token Is Available on LMAX Digital
Energy Substantiation says institutions can now trade its WTI crude oil token (WTIC) on LMAX Digital, giving a commodity-linked digital asset another route into institutional markets. The issuer announced the availability Thursday, Oct. 15. It said…
Oil prices jump sharply, to nearly $110 per barrel
Oil prices jumped sharply Friday to their highest levels in weeks, as investors assessed the impact of both the Iran and Ukraine-Russia wars on global energy supplies. Brent crude oil spiked above $109 per barrel, its highest level since…
OPEC's Smallest Member Rewrites Oil Law to Encourage Exploration
African oil producer Equatorial Guinea will next week pass a new package of favorable terms for oil explorers, with the intention of increasing investment to halt the steep plunge in its output. OPEC's smallest member, where crude production has…
Trump's Foreign Policy Takes a Toll on Canadian Oil Prices
While the world continues to experience an oil-price surge, Canadian crude producers are failing to get top dollar for their barrels. The discount for Canadian heavy oil versus US supplies — a measure that's widely scrutinized by the oil…
Trump calls Ukraine's resumption of strikes on Russian oil refineries a 'disgrace'
Donald Trump has called Ukraine's renewed strikes on Russian oil refineries a “disgrace”, while renewing his criticism of Volodymyr Zelenskyy after an energy ceasefire between Russia and Ukraine collapsed. Ukraine resumed…
Two men charged with theft of cooking oil from Exeter pizzeria
EXETER — Wyoming Area Regional Police say they caught two men stealing cooking oil from Pizza Loven early Thursday morning. Police responded to the eatery on Wyoming Avenue when the business owner through security footage observed two men…
Shell Rotella launches next-gen heavy-duty engine oils - TT
In a product technology overview, Urbanek described the development program's focus on engine cleanliness, oil breakdown and wear. (Michael Freeze/Transport Topics) Shell Rotella announced upgraded heavy-duty engine oils in Houston designed for the…
Ship attack reports near Hormuz reach record high as oil exports slow
The number of ships that have reported being attacked in and around the Strait of Hormuz has hit a record high, BBC Verify analysis of data from a UK maritime agency shows. Twelve vessels were attacked between 5 and 11 October - the largest number…
Oil prices stable as world supply remains under pressure - TT
A boat floats as commercial vessels appear anchored in the Strait of Hormuz off Bandar Abbas, Iran, on Oct. 13. (Razieh Poudat/ISNA via AP) U.S. futures edged higher after Federal Reserve chair Kevin Warsh said the AI shock could bring huge…
Ship attack reports near Hormuz reach record high as oil exports slow
Joshua Cheetham, Thomas Copeland and Alison Benjamin, BBC Verify The number of ships that have reported being attacked in and around the Strait of Hormuz has hit a record high, BBC Verify analysis of data from a UK maritime agency shows. Twelve…
Ukrainian Drones Strike Energy Plant in Russia's Largest Oil-Producing Region
A suspected Ukrainian drone attack sparked a fire at an industrial facility in western Siberia's Khanty-Mansi autonomous district on Friday, local authorities said, in what appeared to be the first strike on energy infrastructure in Russia's…
Trump says Ukraine resuming strikes on Russian oil sites is a 'disgrace'
President Donald Trump has labeled Ukraine's resumption of strikes on Russian oil refineries a “disgrace,” the latest salvo in his campaign to pressure the U.S. ally over rising gas prices that could cost Republicans in next month's…
Oil Falls, Weighed by IEA's Crude, Diesel Release Announcement
0029 GMT — Oil falls in early Asian trade, weighed down by the International Energy Agency's announcement to release crude oil and diesel fuel. The IEA said Thursday that the volume of emergency oil stocks being released by member countries…
Oil Prices Fall as Traders Weigh IEA Reserve Releases, Hormuz Risks
Oil prices fell Friday as traders weighed plans to accelerate emergency oil-stock releases against persistent Middle East supply risks and uncertainty over shipping through the Strait of Hormuz. December Brent crude futures fell 0.9% to $105.00 a…
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