Oil Industry News

Oil Holds Gains, US Futures Slip on War Confusion: Markets Wrap

US equity futures edged lower and oil held gains as Washington struggled to get efforts toward an Iran peace deal back on track. S&P 500 contracts slipped in early Asian trading after US benchmarks closed at record highs in New York on Monday. West…

Iran Halts Talks With U.S.-Driving Up Oil Prices

Iran said it would halt talks with the U.S. over ongoing attacks by Israeli forces in Lebanon, Tasnim News Agency reported. The report prompted an immediate surge in oil prices: West Texas Intermediate futures jumped 7.9% to $94.27 and Brent crude…

Stocks slide and oil spikes as peace talks falter

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. The FTSE 100 closed lower on Monday amid reports Iran has…

Watch Oil Market: Strait of Hormuz Could Reopen in July, Fitch Ratings Says

Fitch Ratings Sees Strait of Hormuz Reopening in July Fitch Ratings' Angelina Valavina discusses the outlook for the oil market, saying the firm's current assumption is for the Strait of Hormuz to reopen in July. She speaks on Bloomberg Television.

Oil slips after Trump says talks with Iran are ongoing

Oil prices trended lower on Tuesday following the previous session's sharp gains as the market remained cautious about progress in U.S.-Iran peace talks. U.S. President Donald Trump said on Monday talks with Iran were ongoing, while Tasnim news…

Gov't extends public-private crude oil swap system until end-June

The government extended the operation of its crude oil swap system with private firms until the end of this month amid continuing uncertainties surrounding the Strait of Hormuz, a critical oil shipping route, the industry ministry said Tuesday. The…

Welcome to the Bedout Basin, Australia's newest oil frontier

Santos has locked in a huge drilling rig to explore a region it has described as the next North West Shelf, in a campaign that will include London-listed oil giant BP and could dramatically improve the country's energy security. The exploration…

LeBlanc Touts Integrated Canada-US Oil Market Before Greer Talks

The office of Canada-US Trade Minister Dominic LeBlanc stressed the importance of “maintaining the highly integrated North American energy market” ahead of talks in Washington with US Trade Representative Jamieson Greer. LeBlanc and…

IEZ: Oil Market Should Break Eventually, And This Fund Should Do Well (NYSEARCA:IEZ)

iShares U.S. Oil Equipment & Services ETF offers targeted exposure to oilfield services amid a global drilling upcycle. IEZ is positioned to benefit from a structural capex surge as global oil stockpiles decline and supply disruptions persist. The…

Oil Edges Higher; Trump Seeks to Quell Israel-Hezbollah Conflict

2337 GMT — Oil edges higher in early trade. President Trump on Monday aimed to quell a growing conflict between Israel and Hezbollah that threatened to derail U.S. peace talks with Iran. Trump declared that both sides had agreed to halt…

Stocks slide and oil spikes as peace talks falter

The FTSE 100 closed lower on Monday amid reports Iran has suspended peace talks with the US. The FTSE 100 closed down 70.33 points, 0.7%, at 10,338.95. The FTSE 250 ended down 179.99 points, 0.8%, at 23,245.78, while the AIM All-Share fell 2.01…

Princeton Endowment Backs Out of Oil and Gas Divestment Pledge

Princeton University 's endowment is backtracking on its pledge to divest from publicly traded oil and gas companies, four years after it said it would exit such holdings as way to move toward a net-zero portfolio. A trustee-mandated decision to…

The changes that could come with decreasing demand for oil

Analysts are starting to wonder if the world needs less oil than they thought it did when the Iran war started. Why it matters: Decades ago, a global oil shock triggered permanent changes to the structure of the global economy, and signs are now…

New Iran Clashes Send Oil Prices and Bond Yields Surging

Oil Pares Gains After Trump Efforts to Broker Israel-Hezbollah Ceasefire

Oil pulled back from overnight gains as President Trump moved to assuage fears of escalating conflict in the Middle East though U.S. futures were shy of fresh record highs. Treasury yields and the dollar fell back from overnight highs after the…