Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Up as Oil Retreat Pauses - Energy Roundup
Shares of energy companies rose as a slide in oil futures halted. Oil prices rose 0.6% to $86.53 a barrel in New York, but are still down by 17% for November so far. Traders are awaiting signs of the U.S. exiting an unpopular war in Iran, and the…
Ukraine set to be focus of EPC summit as UK sanctions Russia's top ten oil producers
Prime Minister Andy Burnham arrives at the European Political Community in Dublin this afternoon following the COP 31 summit in Türkiye. Major new sanctions package announced as leaders convene on Ukraine following peace talks in Abu Dhabi…
Sharp swings for Nvidia and oil prices weigh on Wall Street
NEW YORK (AP) — Big swings for Nvidia's stock price and oil prices are weighing on Wall Street Thursday, but the U.S. market appears to be absorbing them. After falling nearly 1% at the start of trading, the S&P 500 quickly pared its drop to…
U.S. Crude-Oil Stockpiles Post Unexpected Weekly Build
U.S. crude-oil inventories rose unexpectedly last week, ending a string of five straight weekly withdrawals amid higher imports and a decline in exports, according to data released Thursday by the U.S. Energy Information Administration. Commercial…
Tourmaline Oil Corp. stock rises Wednesday, outperforms market
Shares of Tourmaline Oil Corp. TOU advanced 1.28% to C$64.75 Wednesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.67% to 36,411.72. Tourmaline Oil Corp.
Oil Jumps After Trump Says US Doesn't Need Deal With Iran
Oil climbed, erasing earlier losses, after President Donald Trump said that the US doesn't need a deal with Iran, leaving the conflict that has roiled Middle East supplies unresolved. “We've got their money, hundreds of billions of dollars…
Democratic Senators Press CFTC on Suspicious Oil Trade Probe
A group of Democratic senators are pressing the Commodity Futures Trading Commission on its investigation into well-timed oil trades ahead of major announcements by President Donald Trump on the Iran war earlier this year. The CFTC has been…
Brazil, Venezuela Vow to Upgrade Ties With Oil Investment Talks
Brazil's energy minister will visit Venezuela before the end of the year to discuss opportunities in the oil sector, potentially marking a new chapter in bilateral ties after years of strained relations. President Luiz Inácio Lula da Silva…
Venezuela tells COP31 it has a sovereign right to pump more oil
By William James and Simon Jessop ANTALYA, Turkey, Nov 12 (Reuters) – Venezuela's Acting President Delcy Rodriguez told the COP31 climate conference on Thursday that the country has the sovereign right to develop its oil industry…
Stock Market Today: Futures Fall On Trump Oil Remarks; Nvidia Plunges On New CEO Reports (Live Coverage)
Futures for the Dow Jones Industrial Average dropped while tech futures tumbled Thursday, as oil prices rose after President Donald Trump claimed the U.S. doesn't need a peace deal with Iran. Meanwhile, Nvidia (NVDA) stock plunged amid reports the…
Ukraine Says It Hit Russia's Biggest Oil Refinery in Siberia
Ukraine said it attacked Russia's largest oil refinery deep in western Siberia for a third time, intensifying its campaign against the nation's crude-processing industry as US-mediated peace talks continue. Ukraine's Special Operations Forces said…
BP in Talks to Sell Stake in Brazil Oil Discovery to Petrobras
BP Plc is in talks with Petrobras to sell a stake in the Bumerangue oil block off the coast of Brazil, its biggest discovery in 25 years, according to people familiar with the matter.
Angola's Oil Windfall Fuels Diversification Push, Citi Says
Angola 's drive to diversify its economy away from oil is picking up steam as the government uses a surge in crude revenue to finance structural reforms and investment in energy, transport and other industries, Citigroup Inc. said. While crude…
India Gulf Oil Imports Surpass Russia for First Time in Iran War
India's oil imports from the Persian Gulf have overtaken those from Russia for the first time since the beginning of the Iran war, as shuttle runs by tankers help restore flows through the Strait of Hormuz. Crude shipments reaching India through…
Trump Says No Iran Deal Needed; Oil Prices Jump
Oil futures rose again on Thursday after President Donald Trump nixed the idea of an eventual deal with Iran. On Thursday morning, Trump said he had directed Vice President JD Vance to focus on domestic issues rather than on negotiating a peace…
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