Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
India and Sri Lanka discuss oil pipeline and energy hub
India and Sri Lanka have held talks on setting up an oil pipeline connecting the two South Asian nations. Indian Foreign Secretary Vikram Misri said the discussions on Sunday between Vice President C. P. Radhakrishnan and Sri Lankan President Anura…
Oil Surges, Stock Futures Slip
Brent crude futures rose 5% to about $95, while Dow Jones Industrial Average futures were down 0.6%. The moves indicated reversals from Friday, when stocks rallied and oil prices plunged.
Oil prices spike again following latest standoff in the Strait of Hormuz
NEW YORK (AP) — Oil prices rose in early trading Sunday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of U.S. crude…
Is your dark chocolate fake? The brands with milk and palm oil
As the price of chocolate soars, which dark chocolate brands are the real deal? READ MORE: Is your olive oil FAKE? Prices have surged, but some popular brands are producing lower quality bottles from vague sources Hailed as the healthier and more…
Oil Shows the Invisible Hand of the Market at Work
Even after today's rise in oil prices, benchmark Brent crude futures are more than 15% below their March peak. That's not just because President Trump seems eager to wrap up the war. Higher prices for crude also appear to be hitting demand. Surges…
From a Surrey oil well to the supreme court: how an activist changed UK climate law
It started with a notice in the local newspaper and ended with winning one of the world's most prestigious environmental prizes. In 2010, Sarah Finch was flicking through the local planning notices when one caught her eye: a proposal to drill for…
Watch Saxo Sees 'Confusion' Reigning in Oil Markets
Saxo Sees 'Confusion' Reigning in Oil Markets Ole Hansen, commodity strategy head at Saxo Bank, discusses market sentiment as oil jumped amid a weekend flare-up in US-Iran tensions. 'Even with the setback we saw on Friday, these prices are still…
Kuwait Declares Force Majeure on Oil Shipments on Hormuz Halt
Kuwait declared force majeure on shipments of crude oil and refined products as the blockade of the Strait of Hormuz makes it impossible to meet obligations to customers that can't bring vessels into the Persian Gulf. State-run Kuwait Petroleum…
Oil prices rise and markets fall after US ship seizure hits Iran peace deal hopes
Oil prices rose sharply and European stock markets fell on Monday, after the US seizure of an Iranian vessel hit hopes for a peace deal. Brent crude, the international benchmark for oil prices, rose by as much as 5% on Monday to $95.50…
Oil prices jump as Strait of Hormuz tensions escalate
Global oil prices jumped in Monday morning trade in Asia as tensions rose between the US and Iran over the Strait of Hormuz waterway. Brent crude futures were up by 6.4% at $96.13 (£71.27), while West Texas Intermediate was 7.5% higher at…
Oil prices jump as Strait of Hormuz tensions escalate
Peter Hoskins Business reporter Global oil prices jumped in Monday morning trade in Asia as tensions rose between the US and Iran over the Strait of Hormuz waterway. Brent crude futures were up by 6.4% at $96.13 (£71.27), while West Texas…
US Futures Fall, Oil Jumps as Iran Tensions Worsen: Markets Wrap
US equity-index futures slipped, oil jumped and the dollar rose as risk sentiment soured following a renewed flare-up in US-Iran tensions over the weekend and a continued standoff in the Strait of Hormuz. S&P 500 futures fell 0.7% after the…
Oil claws back losses as Strait of Hormuz is closed again
Oil prices rebounded more than 6 percent on Monday after tumbling more than 9 percent on Friday on news the Strait of Hormuz is closed again after both the U.S. and Iran said the other party had violated their ceasefire deal by attacking…
Oil prices surge after Trump announces Iranian tanker seized
Global oil prices rose overnight after President Donald Trump said the US has intercepted and seized an Iran-flagged cargo ship. Brent crude futures were up by 4.74% at $94.66 (£70.11) a barrel as of 5:30am, which was a drop from the 7% high…
Oil Contractors Face Profit Hits From Mideast War Fallout
The fortunes of the world's largest oil contractors are dimming as fallout from the Iran war clouds prospects for a Mideast drilling and fracking boom. Analysts have been cutting per-share profit forecasts for the three largest oilfield-service…
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