Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Supreme Court hands oil industry major win in energy lawsuit
The Supreme Court delivered a sweeping victory for the oil and gas industry on April 17, unanimously ruling that a high-stakes Louisiana environmental lawsuit must be heard in federal court — a decision that could undercut hundreds of…
Trump's Promise of Lower Oil Prices Clashes With Industry Fears
President Donald Trump and his officials tell Americans almost daily that the spike in fuel costs is a temporary blip that will reverse just as soon as he reaches a deal to end the war in Iran. The oil industry begs to differ.
The Oil Futures Market Is Lying to Us
The oil market, like nature, abhors a vacuum. It's got one anyway, and a big one at that. Roughly 15 million barrels a day of oil supply, 15% of global demand, are bottled up in the Strait of Hormuz. You can also think about that number as the…
Oil-Price Surge Fails to Stoke US Energy-Sector Enthusiasm
This article is for subscribers only. I'm Catarina Saraiva, a Federal Reserve reporter in Houston. Today we're looking at the potential Iran war impact on the US job market. Send us feedback and tips to. And if you aren't yet signed up to receive…
What impact will soaring oil prices have on BP's earnings?
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. Rocketing oil prices on the back of the Iran war are set…
Trump's Emergency Oil Sails to Europe as War Upends Energy Flows
A massive release of oil from US emergency reserves that has started flowing to American refiners is also supplying fuelmakers in Europe, and potentially in Asia, as the Iran war upends global energy markets. Global trading houses have sold at…
White House Extends Jones Act for 90 Days to Ease Oil Crunch - TT
The Enterprise Marine Terminal in Freeport, Texas. (Mark Felix/Bloomberg) President Donald Trump's administration has given a 90-day extension to a shipping waiver making it easier to move oil, fuel and fertilizer around the U.S. marking the latest…
Oil Futures Mixed As Pakistan Pursues Diplomatic Efforts
0907 ET – Oil futures are mixed in early U.S. trade as Pakistani officials maintain efforts to bring Iran to the negotiating table with the U.S. The foreign ministers of Pakistan and Iran discussed the cease-fire and diplomatic efforts in a…
Oil Prices Rise on Stalled Iran War Talks - TT
Pump jacks and wells in an oil field on the Monterey Shale formation near McKittrick, Calif. (David McNew/Bloomberg) HONG KONG — World shares were mostly lower while oil prices pushed higher Friday as talks on ending the war between the U.S.
What impact will soaring oil prices have on BP's earnings?
Rocketing oil prices on the back of the Iran war are set to boost BP's first quarter figures after the cost of crude has surged past 100 dollars a barrel since the conflict started. The FTSE 100 oil giant, which reports quarterly results on…
Oil prices rise again as Iran-US standoff continues
Oil prices, including Brent crude and US West Texas Intermediate, remained above 105and105and96 a barrel respectively, as the Strait of Hormuz stayed closed. The closure is due to an ongoing naval standoff between the US and Iran, with both nations…
Oil Executives Warn Trump of Price Surge Lasting Months - TT
A driver refuels a tractor with diesel fuel at a truck stop in Tracy, Calif. (David Paul Morris/Bloomberg) President Donald Trump and his officials tell Americans almost daily that the spike in fuel costs is a temporary blip that will reverse just…
US-Sanctioned Supertanker With Iranian Oil Tries Hormuz Transit
A US-sanctioned supertanker laden with Iranian oil appeared to be attempting to cross the Strait of Hormuz on Friday, with traffic through the waterway otherwise at a virtual standstill. The Yuri, carrying 2 million barrels of crude loaded from…
GOP lawmakers are pushing 'alarming' bills to shield Big Oil from climate liability
Get your news from a source that's not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. This story was originally published b y the Guardian and is reproduced here as part of the Climate Desk collaboration. Republican…
Oil, gas markets brace for more turmoil over Hormuz
Oil and gas markets — already in turmoil over the Strait of Hormuz closure — will likely face further and lasting disruptions in the months ahead, analysts warned. Iranian attacks on liquefied natural gas facilities in Qatar will…
Receive a Daily briefing on Oil Industry News
Get Started