Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Chevron CEO says Venezuela must do more for oil industry revival
Chevron Corp. Chief Executive Officer Mike Wirth said changes to Venezuela's oil policy are a sign of progress in trying to attract foreign investment, though further measures are needed. “It moves things in a positive direction,”…
Europe and Asia, not the US, bear the brunt of the oil & energy crisis | Cash Call | Andrew Wong
Nearly two months have passed since the United States and Israel launched a full-scale offensive against Iran, and the duration of the conflict has already exceeded the expectations of US President Donald Trump. Both Washington and Tehran continue…
'Upward pressure' on oil prices amid Iran war 'likely to continue': Chevron CEO
Chevron CEO Mike Wirth said in a Sunday interview that “upward pressure” on oil prices amid the U.S. conflict in Iran is “likely to continue,” as the war stretches into its second full month. “We're in a period…
Goldman Sachs raises oil price forecasts on tight supply
Goldman Sachs has raised its oil price forecasts for the fourth quarter to US$90 (HK$705.3) a barrel for Brent crude and US$83 for US West Texas Intermediate (WTI), on lower output from the Middle East. SCROLL TO CONTINUE WITH CONTENT “The…
Oil Prices Resume Climb, Stock Futures Retreat
Oil futures opened higher Sunday evening in New York after the latest round of peace talks in Pakistan was called off, and President Trump said any further negotiations with Iran could take place by phone instead. Benchmark U.S. oil futures traded…
China industrial profits jump 15.8% in March, fueled by AI and chip boom despite oil shock risks
Industrial profits jumped 15.8% from a year earlier in March. In the first three months this year, enterprise profits expanded 15.5% from a year earlier. Large onshore inventories of Iranian oil and crude on tankers at sea have provided some…
Oil at three-week high as US-Iran peace talks stall - business live
Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. The new week begins with the oil price rising, again, as the stalled US-Iran peace talks threaten to extend disruption to crude supplies…
Oil Rises Amid Rising Strait of Hormuz Tensions
Oil rose in Asia on Monday amid rising tensions related to the Strait of Hormuz, a key waterway through which one-fifth of the world's oil is typically transported. Iran's Islamic Revolutionary Guard Corps boarded two containerships near the…
Oil prices rise to near-three week highs as US-Iran peace talks falter
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Oil prices have hit a near three-week high as hopes of…
Opinion | U.S. Oil and Gas Fight Tyrants
Holman W. Jenkins, Jr.'s observation that “the best way to weaken the world's oil tyrants is for responsible countries to give them competition” (“ A Victory in Iran Won't Look Like One,” Business World, April 18) should…
Oil Rises Amid Ongoing Middle East Tensions
2333 GMT — Oil rises in early Asian trade amid ongoing Middle East tensions. President Trump said that he decided not to send U.S. envoys to Pakistan for peace talks and that negotiations could happen over the phone instead. This move…
Oil Pushes Higher as Stalled Peace Talks Weigh on Sentiment
Oil remained elevated early Monday as stalled peace talks between the U.S. and Iran weighed on global markets ahead of a busy week of central bank policy decisions. Peace talks expected to take place between the U.S. and Iran over the weekend…
Stock futures fall as Iran peace talks stall, oil rises: Live updates
Stock futures fell in overnight trading Sunday as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher, keeping geopolitical tensions front and center heading into a pivotal week. Futures tied to the Dow…
Oil prices inch up as peace talks between the US and Iran fail to materialize
The price of oil inched upward on Sunday as a second round of peace talks between the US and Iran never materialized. Brent crude oil futures rose nearly 2% to $101.07 a barrel when the markets opened at 6 p.m. in New York. West Texas Intermediate…
Goldman Hikes Oil Price Forecasts on 'Extreme' Inventory Draws
Goldman Sachs Group Inc. lifted its oil-price forecasts as the prolonged closure of the Strait of Hormuz spurs “extreme” inventory draws. Brent is expected to average $90 a barrel in the fourth quarter, up from a previous outlook for…
Receive a Daily briefing on Oil Industry News
Get Started