Oil Industry News
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Ukraine-Russia latest: Zelensky proposes energy ceasefire as oil prices soar
President Volodymyr Zelensky has called for an “energy ceasefire” with Russia that would halt all strikes on infrastructure. Speaking to Ukrainska Pravda, the Ukrainian president said the country was “ready for a ceasefire for…
Starmer to meet energy bosses after oil prices soar to $115 a barrel
Sir Keir Starmer is set to meet energy bosses in Downing Street on Monday, after barrels of brent crude oil soared to $115 a barrel. The prime minister is set to meet senior executives from the energy, shipping and financial services, including…
Trump says he could 'take Iran's oil
Donald Trump has said that he could 'take the oil in Iran ' and boasted that he can invade Kharg Island 'easily'. It comes as the number of US troops in the Middle East swelled to 50,000, roughly 10,000 more than usual. Tehran has promised to set…
Price of oil hits $116 a barrel after Trump says he wants to 'take the oil in Iran'
The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “ take the oil in Iran ”, sending Asian stock markets tumbling. Brent crude, the international benchmark for oil, rose by 2% in early trading on…
Trump says 'my favorite thing is to take the oil in Iran'
President Trump on Sunday suggested his priority in Iran is taking control of the country's oil industry as he weighs next steps one month into the war he launched with Israel. “To be honest with you, my favorite thing is to take the oil in…
How Trump and the oil markets move in sync: A tango in five charts
Jemma Crew, Tommy Lumby and Natalie Sherman, business reporters It can be hard to pin down what is guiding Donald Trump a month into US and Israel's programme of strikes on Iran. But it is clear he has an eye on the oil markets. A word - or social…
Trump states 'preference' to take oil from Iran like with Venezuela
The president's remarks came hours before he said he would be open to obliterating Iran's critical infrastructure if the country does not swiftly agree to a U.S. peace proposal and open the Strait of Hormuz, which is a critical waterway for…
What was the 1970s oil crisis, and are we heading for something worse?
James Pozarik/Liaison via Getty Images The month-long closure of a crucial waterway for the global energy supply has sparked warnings the world is heading for problems worse than those caused by the 1970s oil crisis. Lars Jensen, a shipping expert…
The renewable energy source homeowners are turning to as oil and gas prices soar
British households are increasingly turning to solar power, with E.On reporting a significant sales surge, as Middle East conflict prompts a re-evaluation of fossil fuel reliance. The electricity supplier revealed a 62% increase in solar panel…
Oil rises above $115 and Asia stocks slide as Iran war escalates
Global oil prices jumped and stocks fell sharply on Monday morning in Asia as the US-Israel war with Iran escalates. The price of Brent crude rose by more than 3% to above $115 (£86.77) a barrel, while US-traded oil climbed to $103 after…
Oil surge tests US airlines, opens door for industry shakeout
A sharp rise in oil prices is emerging as the first major financial stress test for US airlines since the pandemic, exposing deep divides between stronger carriers and those already under pressure. United Airlines Chief Executive Scott Kirby wrote…
Watch Global Oil Market in for a Shock: Fahmy
Global Oil Market in for a Shock: Fahmy Former US Associate Deputy Energy Secretary Randa Fahmy warns that the ongoing Middle East conflict could extend for a prolonged period. She speaks after Iran-backed Houthi militants in Yemen entered the…
Oil Market Faces Shock as War Widens, Ex-US Energy Official Says
The global oil market is “in for a shock” as the Middle East conflict will likely extend for a prolonged period with Iran leveraging control of the Strait of Hormuz, said Randa Fahmy, a former US associate deputy energy secretary. The…
Starmer hosts business chiefs as Trump ratchets up threats to Iran's oil
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Bosses from energy, shipping and banking…
BOJ highlights inflationary pressure from oil, weak yen
Japan's underlying inflation rate may face stronger upward pressure from rising oil prices and the yen's declines than in the past as firms have become more active in hiking prices, the Bank of Japan said on Monday. SCROLL TO CONTINUE WITH CONTENT…
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