Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The oil market is facing a transportation crisis that suggests energy costs aren't falling soon
Oil prices have fallen from wartime peaks, but a broader transportation crisis in the crude market suggests it may not matter so far as preventing further pain for consumers. Energy costs have been top of mind for investors for most of this year as…
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…
Trump Is Making Deals with Big Oil
Bluesky With the US midterm elections less than three weeks away, is it any surprise that corruption has emerged as voters' top concern? “Corrupt” was the adjective most often chosen when registered voters were asked for a single word…
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…
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…
Ukraine to restart strikes on Russian oil refineries, Zelensky says
Ukraine will resume strikes on Russian oil refineries, Volodymyr Zelensky has said, as he accused the US of withdrawing crucial support. The Ukrainian president said he had restricted such attacks for three days at Washington's behest, while Russia…
Meet the Minnesota-based coconut oil company changing lives in the Philippines
Erik Olsen knew there was a mission to accomplish before he even knew what it was. It's what led him to leave a successful business venture for war-torn Iraq in 2003. 'My mom thought I was going to come back in a coffin,' he jokes decades later.
Zelenskyy Restarts Attacks Against Russian Oil Refineries
♦ First, keep in mind that any attacks against Russian infrastructure should always be evaluated against the capability of Russia to effectively mitigate such attacks. Russia is an analog infrastructure in a digital world, and one of the…
Oil prices steady as uncertainty surrounds global supply - TT
A pump at a Buc-ee's station Oct. 12 in Johnstown, Colo. (David Zalubowski/AP) Tensions and uncertainties surrounding global oil supply and the situation in the Middle East dragged on. Tech stocks appeared to be headed for another sell-off before…
Oil Prices, Fed on Bank Indonesia's Radar Ahead of Next Meeting
BANGKOK—Two things on the Indonesian central bank's radar ahead of its next meeting are oil prices and the Federal Reserve. As of now, Bank Indonesia is expecting the Fed to hike in December, Gov. Destry Damayanti said Thursday on the…
Ukraine Resumes Strikes on Russian Oil Refineries
Welcome back to World Brief, where we're looking at Ukraine defying U.S. President Donald Trump's demand for an energy cease-fire, calls for Albanian Prime Minister Edi Rama to resign, and a new border crossing between China and North Korea.
IEA agrees to release outstanding 100 million barrels of oil - TT
The Strategic Petroleum Reserve storage at the Bryan Mound site in Freeport, Texas. (Brandon Bell/Getty Images via Bloomberg News) International Energy Agency members agreed Oct. 15 to complete the release of 100 million barrels of oil still…
How Aramco learned to keep pumping oil under fire
LONDON — When attack drones struck Saudi Aramco's biggest oil pipeline last month, satellite images showed one of its pumping stations burnt to ashes. By the next day, scores of bulldozers were already building a new pipeline. The speed of…
Brian Sullivan: Why the 'real' price of oil is likely $30-$40 higher than where it is now
Physical oil can cost about $38 a barrel more to deliver, as tanker rates surge. Shell, LNG exporters and refiners stand to gain from tight fuel supplies. Tobin Marcus sees a prolonged standoff with Iran. Europe's low gas storage makes winter…
Ukraine launches new attacks against Russian oil refineries after brief truce
“The block [on attacking refineries] is out,” Zelensky declared. “We're done.” The governor of Russia's Ryazan oblast, Pavel Malkov, said in a Thursday post on Telegram that the region came under a…
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