Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Big Oil wants to rig the courts. You'll pay for it on your utility bill.
Ask anyone in California what keeps them up at night and energy costs land near the top of the list. Electricity rates have climbed sharply. Gas prices spike every time there is turmoil overseas. Families are being asked to absorb costs they did…
Analysts See Decline in U.S. Crude-Oil Inventories
U.S. crude-oil inventories likely fell for a second consecutive week, while product stocks are seen mixed with a drawdown in gasoline and a build in distillate fuel, according to a survey by The Wall Street Journal. Commercial crude stocks are seen…
The Middle East's most dangerous chokepoint has no oil
If months of war between the U.S. and Iran have taught us anything, it's the importance of choke-points. The world now understands why the Strait of Hormuz is so powerful: whoever controls passage can disrupt economies and compel governments far…
Oil prices tick up despite talks to reopen Hormuz - TT
Crude oil tankers, bulk carriers and vessels anchored off Muscat, Oman. (Elke Scholiers/Bloomberg) Oil prices ticked up despite hopes for a deal setting the stage for talks that might eventually lead to an end to the war in Iran. Shares advanced in…
'Oil in Our Time' May Be as Good as This Gets
To get John Authers' newsletter delivered directly to your inbox, sign up here. The stock market's relationship to war and peace can be troublesome. Just look at the Dow Industrials in 1938 and 1939, as an ever-more belligerent Hitler brought…
Oil Declines Amid Growing Optimism Over Reopening of Strait of Hormuz
2333 GMT — Oil declines in early Asian trade amid growing optimism over the reopening of the Strait of Hormuz, a critical waterway through which one-fifth of the world's oil is transported. “Iran said it reached an agreement with Oman…
Oil prices rebound after Houthis say they attacked Saudi tanker
LONDON, Aug 5 (Reuters) - Oil prices rose on Wednesday after Yemen's Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore…
Murphy Oil: Q2 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Murphy Oil Corp. (MUR) on Wednesday reported second-quarter profit of $232.2 million. On a per-share basis, the Houston-based company said it had profit of $1.59. Earnings, adjusted for non-recurring…
What Makes Magnolia Oil & Gas Corp. (MGY) a Strong Investment Bet?
Conestoga Capital Advisors, an asset management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. The letter reports a positive market shift towards Small Caps, with the Russell 2000 Index…
Commodities: Oil Sinks As Deal Optimism Grows
Oil prices are selling off aggressively as hopes of a deal between the US and Iran grow. However, markets may be getting a bit ahead of themselves once again. In precious metals, central banks added a net 51t of gold to reserves in June, with H1…
Oil Falls, Asian Equities Rise on Hopes for Reopening of Strait of Hormuz
U.S. Treasury Secretary Scott Bessent said that a deal to reopen the waterway could be finalized 'today or tomorrow.' Secretary of State Marco Rubio noted progress on the talks but cautioned that a final agreement has yet to be reached. Qatar also…
Midday Need to Know: Oil prices ease, CVS beats expectations & more (SPY:NYSEARCA)
Services sector continued expanding for the 25th month, but new orders and activity rose while employment contracted and input prices climbed, signaling mixed economic momentum and ongoing inflation concerns. Houthi attacks targeting Saudi oil…
Oil prices move higher after Yemen's Iran-backed Houthis claim Saudi tanker strike
Oil prices rebounded Wednesday after Yemen's Iran-backed Houthis reportedly hit a Saudi Arabian tanker in the Red Sea. The reported strike dented hopes of a potential ceasefire agreement, which rose this week following comments by Treasury…
ASX set to dip, Wall Street drifts as oil prices steady; SpaceX tumbles
Stocks wavered in afternoon trading on Wall Street and hovered around their records set a day earlier, while oil prices held steady. The S&P 500 rose 0.1 per cent. The Dow Jones added 473 points, or 0.9 per cent, as of 2:12 p.m. Eastern time. The…
Oil Markets Price In An Iran Deal That Does Not Exist Yet
Oil prices tumbled Tuesday as traders once again priced in a U.S.-Iran agreement before anyone had actually signed one. West Texas Intermediate was trading at $75.64 per barrel shortly before 2 p.m. ET, down $4.70, or 5.85%, while Brent had fallen…
Receive a Daily briefing on Oil Industry News
Get Started