Oil Industry News
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Energy Down With Oil Futures -- Energy Roundup
Shares of energy companies fell alongside oil futures, which closed at their lowest level since the eve of the Iran war. West Texas Intermediate oil futures fell $2.69, or 3.7%, to $69.23 a barrel, its lowest settle since Feb. 27. Losses came…
How oil execs shaped a landmark climate study
It is rare that a single scientific paper shapes how people think about a challenge as daunting as climate change. But one, known as “ Wedges,” published 22 years ago by researchers at Princeton University, told an irresistible story.
Oil And Gas Innovations Fuel Hope For Energy Independence
President Donald Trump's energy independence promise could depend on Permian Basin drilling. Despite 10% of the world's oil supply being reportedly trapped behind the Strait of Hormuz, energy industry insiders report expansions to U.S. oil…
Magnolia Oil & Gas Is in Lead to Acquire WildFire for Over $4 Billion
Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter. The Houston-based shale…
Consumer Cos Up as Oil Continues its Retreat -- Consumer Roundup
Consumer companies rose as oil futures continued their retreat, boding well for gasoline prices. In the final June reading, the University of Michigan consumer-sentiment index rose to 49.5 from a record low of 44.8 in May, as the peace deal in Iran…
Watch Stanley: Oil Market Complacent over Hormuz
Stanley: Oil Market Complacent over Hormuz There are renewed concerns about safe passage through the Strait of Hormuz after an attack on a cargo ship. Meanwhile, oil was on track for a weekly decline after transits through the Strait accelerated.
The country's crude oil stockpile is at risk of operational failure: Watchdog
The GAO issued its warning in a performance audit conducted between February 2024 and May 2026 that was sent to the House Energy and Commerce Committee this week. “America's Strategic Petroleum Reserve should be a resource our nation can…
Behind Oil's Dramatic Retreat
The U.S. war with Iran—and the economic war the latter waged in return—was supposed to be an apocalyptic moment for the oil market. Instead, oil prices are now back trading at close to their prewar levels.
Alberta Pipeline Plan Collides With Doubts Over How Much Oil It Can Pump
Alberta's push for a new oil pipeline to carry 1 million barrels a day to the west coast is colliding with a hard question for Canada's energy companies: Can they produce enough oil to fill it? Alberta Premier Danielle Smith has championed the…
Oil Tanker Earnings Plunge by $200,000 as More Return to Hormuz
Oil tanker earnings tumbled as more ships are willing to enter the Strait of Hormuz, capping a dramatic week of swings in costs to hire the world's biggest crude carriers. Hiring a supertanker to haul 2 million barrels of crude oil from Saudi…
China's Collapsing Crude Oil Imports to Fall Further in June
The world's top crude oil importer is set to take even fewer barrels this month, extending its exceptionally subdued appetite since the start of the Iran war. China's seaborne crude imports will average about 6.4 million barrels a day in June…
Oil Futures Fall on Likely Technical Correction
2353 GMT — Oil futures fall on a likely technical correction following solid gains in futures overnight. However, futures' declines may be limited by concerns over the passage of oil tankers through the Strait of Hormuz. Iran's Islamic…
Saudi Aramco resumes oil loading at Ras Tanura in boost to supply
SINGAPORE, June 26 (Reuters) - Saudi Aramco resumed crude loadings on Friday at its Ras Tanura terminal in the Gulf after a near four-month halt, shipping data showed, as the world's biggest oil exporter joined a rush to move cargoes amid…
Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Right
The Strait of Hormuz has (mostly) re-opened! Crude prices are still up since the start of the war with Iran, but popular predictions earlier this year of $200-a-barrel Brent didn't pan out. Why is that? We last talked to Rory Johnston, the founder…
Venezuela Death Toll Rises, Oil Resumes Drop, More
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