Oil Industry News
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Tourmaline Oil Corp. stock falls Friday, underperforms market
Shares of Tourmaline Oil Corp. TOU slid 2.59% to C$59.71 Friday, in what proved to be an otherwise all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.30% to 35,305.31. Tourmaline Oil Corp.
Iran conflict cuts global oil demand, the International Energy Agency says
Global oil demand is on track to post its first annual decline since the Covid-19 pandemic as the US-Iran war has severely disrupted Middle Eastern oil production and exports, the International Energy Agency (IEA) has said. The Middle East…
Oil's Calm Is Over as Middle East Risks Return
Renewed U.S.-Iran strikes have revived the Middle East risk premium, lifting Brent above $76 as traffic through the Strait of Hormuz slows and supply disruption fears return. The return of the Middle Eastern geopolitical risk premium has lifted…
EPA settles with Keystone Pipeline for $26M for Kansas oil spill
July 10 (UPI) -- The Environmental Protection Agency on Friday announced a $26 million settlement over a 2022 Kansas oil spill from the Keystone Pipeline. South Bow LP, the owner of the pipeline, agreed to pay the penalty and make $40 million in…
This Week's Market Wrap: Oil Shocks, AI Volatility, And A Resilient Economy
Renewed U.S.-Iran hostilities and attacks on commercial vessels sent crude oil sharply higher, pressuring transportation, housing, materials, and other economically sensitive industries. Semiconductor stocks experienced sharp reversals, but major…
Oil Prices Ease to End the Week
Benchmark crude futures settled Friday at $71.41 a barrel, down from a high around $76 reached on Wednesday when hostilities were escalating. The prospect of another round of peace talks pulled prices back 0.9% on Friday. For the week, they rose…
Global oil demand is dropping, but US drivers keep buying more gas
NEW YORK — Global oil demand is set to decline this year for the first time since the height of the COVID-19 pandemic in 2020, according to a report from the International Energy Agency. The drop, which the agency expects to amount to about…
Delta says higher airfares expected to last despite drop in oil prices
Delta Airlines saidelevated airfares are likely to last despite a recent drop in oil prices, reporting strong appetite for travel and record-high revenue in its quarterly results Friday. Though the company had its highest quarterly fuel expense in…
Oil Tankers Still Cross Hormuz on Oman Side Despite Flare Up
At least two oil supertankers, both controlled by the same company, appeared to cross the Strait of Hormuz on a US protected route through the waterway, despite conflict reigniting in the region this week. The Nissos Kea popped up inside the…
Oil prices drift after unclaimed airstrikes - TT
A cargo ship is pictured off the Gulf of Oman on June 28. (AFP/Getty Images/Bloomberg) Oil prices are drifting toward a quiet finish to the week after earlier fireworks on worries about the war in Iran. A series of unclaimed airstrikes hit Iran…
Sinokor Oil Tankers Wait Near Saudi Arabia as Iran War Reignites
At least four oil supertankers controlled by South Korea's Sinokor Group are stationed near Saudi Arabia's main Persian Gulf export facility, vessels that may offer clues into shipowners' perceptions of the safety of the Strait of Hormuz after…
Surviving an Oil Spill in Louisiana, and More New Fiction for July
This month, we're reading novels about two communities—Cajuns in Louisiana and a Tamil immigrant family in Toronto—coping with the hardships of North American life. Stephanie Soileau (Doubleday, 336 pp., $30, July 2026) Stephanie…
Oil Prices Are Plunging, but Trumpflation Is Getting Worse -- Here's Why
On the surface, everything appears to be humming along for Wall Street. The timeless Dow Jones Industrial Average (^DJI +0.28%) vaulted to a fresh all-time high in early July, while the benchmark S&P 500 (^GSPC +0.42%) and growth-focused Nasdaq…
Man jailed over stabbing in row over spilt oil
A man who stabbed an acquaintance in the back and chest in a row that started over spilt oil in shared accommodation, has been jailed for three years. Housseyn Chaoui (30) got into a disagreement with another man in his shared accommodation in…
Nymex Overview: Russia's Distillate Exports Tumbled in June; Oil Production to Fall in 2026, 2027: IEA -- OPIS
The decrease in product exports was led by a 32% drop in gasoil to 490,000 b/d from 720,000 b/d in May, and the country's jet fuel exports also fell to 30,000 b/d from 60,000 b/d during the period, the agency said. Gasoil is a term used in Europe…
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