Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Rising oil prices create 'huge worry' as winter looms
Thousands of households who rely on heating oil could face a fresh squeeze on their finances this winter as global tensions continue to push up fuel prices, a councillor has warned. Cheryl Cottle-Hunkin, Devon County Council's cabinet member for…
Iran push to control region's oil indicated by pipeline attack
A drone attack that closed a critical oil pipeline in Saudi Arabia shows a coordinated effort by Iran and its allies to control regional oil exports as part of Tehran's ongoing fight with the U.S., according to analysis. Drones hit the 745-mile…
The trade deficit with Canada that's upset Trump so much is due to oil the U.S. buys at a discount for the Midwest. 'It's the only oil they can use'
Canada might seem an unlikely target for a U.S. trade war. No country on Earth buys as much from the United States as its northern neighbor. For American farmers, Canada is second only to Mexico as an export market. A North American trade pact…
U.S. redirects 100 ships as Iran tensions grip key oil route
The U.S. military said it has redirected 100 commercial vessels over the past 60 days while enforcing a maritime blockade against Iran, underscoring the high-stakes security dynamic in the critical Strait of Hormuz. In a statement released…
Oil spike puts pressure on airlines and their passengers
The escalation of the US-Iran war, now in its seventh month, is expected to put more upward pressure on airfares, petrol and diesel as the higher cost of fuel filters through the economy. Fears of further oil supply disruptions have deepened after…
Costco Limits Engine Oil Purchases as Prices Climb Thanks To Trump
Published: September 12th, 2026 Costco has begun limiting how much motor oil each member can buy, imposing a two-per-customer, per-week cap on its Kirkland Signature full-synthetic as prices climb alongside a shrinking global supply. Ten quarts of…
New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies
ADEN/DUBAI — Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, adding to concerns about Iran-related threats to energy supplies after Saudi Arabia shut down a vital oil pipeline. The British…
'Cannot claim to be taking climate seriously': Pressure on UK to extract last North Sea oil
Aberdeen: The British North Sea, once a hub for oil and gas drilling, has faced a quarter-century of declining production, depriving communities along a foggy stretch of Scottish coastline of their economic core. Now applications for two new…
China's 70% EV Target Deals Another Blow To Oil Demand
China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels. As of the end of last year, the share of the so-called new…
New: Key Saudi Oil Lifeline to Red Sea Shut After Drone Strikes
Things in the Middle East just seem to get more complicated by the day. In the latest development, reports indicate that drone strikes originating in Iraq are responsible for the shutdown of a major oil pipeline by Saudi Arabia. The catch? This…
Trump sees Iran war ending soon after mid-term elections, predicts oil prices will then fall sharply
Trump said he expects the Iran war to end shortly after November's mid-term elections and oil prices to fall afterward. Oil prices pulled back Friday but posted sharp weekly gains as Brent settled above $104 a barrel and WTI above $100. Regional…
Oil's roundtrip back to $100. Why China could determine what happens next
China will play a pivotal role in deciding whether oil prices sustain this week's rally and potentially test wartime highs. The U.S. crude oil price on Thursday topped $102 per barrel for its highest close since May. The futures contract surged…
Roast potatoes will be extra crunchy if you ditch oil for 1 better ingredient
You don't need oil or goose fat to make the crunchiest, crispiest roast potatoes at home The changing of the season is just around the corner, which means that roast dinner season is officially upon us. No Sunday roast is complete without all of…
Saudi Arabia's shutdown of key pipeline limits oil flow as Yemen hits back against Houthis
Saudi Arabia has closed a critical oil pipeline after it was struck by drones launched from Iraq, the latest squeeze on Middle Eastern supplies after attacks by Iran-backed Houthi rebels this week threatened to deepen the world's energy crisis. The…
US oil giant Chevron confirms it will expand operations in Venezuela
Oil giant Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron, the only U.S. oil company…
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