Oil Industry News

Ukraine's drone attacks have left Russia desperately scrambling for oil imports

A sanctioned shadow fleet tanker carries oil from Nato member Turkey to a Russian Baltic port. A deal is signed for Russian oil to be processed in Kazakhstan. Fuel cargoes arrive from India via Egypt. The Kremlin pressures allies to sell it badly…

Soap Is Shale's Latest Breakthrough to Boost US Oil Production

Forget AI-assisted drilling, U-shaped wells and round-the-clock fracking. One of the hottest technologies to squeeze more oil from US shale fields is better soap. Companies have long used detergent-like additives, called surfactants, to coax oil…

Hormuz oil flows rising as Middle East producers ramp up - TT

Ships anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran. (Ali Saeedi/Getty Images) Crude shipments through the Strait of Hormuz rose to about 6 million to 8 million barrels a day as Gulf producers increased exports despite…

Dan Haley on the role of oil and gas in Colorado's energy future | The OpEdge Podcast

Dan Haley, executive director of Coloradans for Responsible Energy Development, joins The OpEdge to discuss the role of oil and natural gas in Colorado's energy future amid the state's aggressive push toward “net zero.” Haley tells…

Nasdaq Futures Buoyed by Nvidia Earnings, Software as Oil Falls

U.S. technology futures jumped in early European trade after bumper earnings forecast renewed optimism around artificial-intelligence stocks, while software earnings quieted investor pessimism on the sector. The world's most valuable company raised…

Oil Falls Amid Hopes for Reopening of Strait of Hormuz

2343 GMT — Oil falls in early Asian trade amid hopes for a reopening of the Strait of Hormuz, a key waterway through which one-fifth of the world's oil is transported. Oman and Iran said their foreign ministers discussed an agreement to…

Oil prices steady on Iran-Oman talks over Hormuz - TT

Nasdaq signage at the Nasdaq MarketSite in New York. (Michael Nagle/Bloomberg) Oil prices are steady as talks between Iran and Oman on increasing energy flows in the Strait of Hormuz helped ease prices this week. U.S. futures are mostly higher as…

Current price of oil as of Aug. 27, 2026

Oil slips as investors focus on Hormuz talks

HOUSTON, Aug 26 (Reuters) - Oil prices fell on Wednesday, as investors monitored talks between Iran and Oman on the Strait of Hormuz and a smaller-than-expected rise ‌in U.S. crude stocks curbed losses. Brent crude futures were down 71…

Global oil traffic shifts toward the US amid Iran war disruptions

Wars have a way of rearranging the economic map along with the military one. One of the more consequential effects of the Iran war is already playing out on the world's oceans. Global oil traffic is shifting away from the Middle East and toward the…

Iraq Offers Oil Outside Hormuz for First Time Since War Began

Iraq is offering buyers of its crude the option to collect supplies from outside of the Persian Gulf for the first time since the Iran war began, highlighting resilient exports flowing through the Strait of Hormuz. The country's state oil marketer…

Trump's oil and gas stock trades continued during Iran war, filings show

Washington — President Trump's investment accounts have continued to purchase and sell stock holdings in oil and natural gas companies while he oversees the U.S. war with Iran, according to his financial disclosure filings through the second…

Libya Oil Minister Discusses Energy Security at ONS 2026 Conference

Libya's Minister of Oil and Gas, Khalifa Abdel Sadig, participated in a panel discussion entitled 'Will Energy Continue to Shape the Global Balance of Power?' as part of the ONS (Offshore Northern Seas) 2026 conference in Stavanger, Norway (24 to…

Oil Edges Lower as Traders Weigh Hormuz Talks, Russia Risk

Oil edged lower after a choppy session in which traders weighed diplomatic progress in the Middle East against rising Russia-Ukraine tensions. West Texas Intermediate traded below $82 a barrel, taking this week's drop to about 6%, while Brent…

Oil prices tumble amid renewed optimism over the Strait of Hormuz

Oil prices tumbled Wednesday for the third straight day, as a flurry of headlines from the Middle East sparked renewed optimism in global markets. As of early Wednesday morning, U.S. crude oil had fallen more than 1.5% to around $81 per barrel and…