Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil conundrum: On India's energy imports from Russia
Union Ministry of Commerce and Industry (MCI) data on India's May crude imports show that receipts from Russia had reached the pre-sanction levels of more than 40%, which is also the highest in two years. Though India has defended this as…
The U.S. Is Both The World's Top Oil Producer And Top Consumer
MIDLAND, TEXAS - JULY 7: Pumpjacks operate as a flare burns a few hundred yards from apartments Thursday, July 7, 2022, in Midland. (Jon Shapley/Houston Chronicle via Getty Images) Houston Chronicle via Getty Images The newly released 2026…
Oil Climbs, US Futures Dip on Fresh Iran Strikes: Markets Wrap
Oil jumped and US equity futures fell after the US launched another round of strikes against Iran, while conflicting claims over the status of the Strait of Hormuz heightened uncertainty. S&P 500 contracts dropped 0.2% in early trading Monday after…
Watch Oil Market Prices In Hormuz Resilience
Oil Market Prices In Hormuz Resilience Bloomberg Intelligence senior commodities strategist Mike McGlone says oil markets are largely accepting US assurances that the Strait of Hormuz remains open, with expanding Western Hemisphere supply and…
Oil prices rise as U.S. and Iran fight for control of Strait of Hormuz
Oil prices rose Sunday evening after the U.S. and Iran traded strikes as they contest control of the Strait of Hormuz, one of the most important trade routes for global energy supplies. U.S. crude oil futures were up 3.4% to $73.87 per barrel by…
'Huge wave' of carbon storage projects causes alarm in small-town USA as oil firms eye billions in subsidies
The plan to bury carbon under remote Indiana farmland is supposed to be a slam dunk for the climate, according to its supporters – all generously funded by US tax dollars. But as far as Melissa Harrison and some other residents of Clymers…
Live: Markets on edge as US-Iran war flares again, oil price under pressure
ASX 200 futures: +0.5% to 8,814 points ASX 200 (Friday): +0.5% to 8,806 points Australian dollar: flat at 69.46 US cents Wall Street (Friday): S&P 500 +0.4%, Dow +0.3% Nasdaq +0.3% Europe (Friday): Dax -0.2%, FTSE +0.2%, Eurostoxx -0.2% Spot gold:…
Keystone Pipeline system's operator agrees to pay $26.9M penalty over major Kansas oil spill
TOPEKA, Kan. (AP) — A proposed legal settlement with the U.S. government would require the Keystone Pipeline system's operator to pay a $26.9 million civil penalty over a major oil spill in Kansas in December 2022 and spend about $40 million…
Keystone Pipeline operator agrees to pay $26.9 million over 2022 oil spill
The federal government has announced a settlement proposal that would require the owner and operator of the Keystone Pipeline to pay $26.9 million in civil penalties, linked to a major oil spill that dumped nearly half a million gallons of crude…
Trump's ambitious energy bet could be a winning hand as the world burns more oil, gas than ever
The world consumed more energy than ever before in 2025, with fossil fuels still supplying the vast majority of global energy despite record growth in renewable power, according to a new report. The findings come as President Donald Trump pushes to…
These Body Shimmer Oils Are Golden Hour in a Bottle
There's glowy skin, and then there's glowy skin—the best body shimmer oils deliver that next-level luminosity that catches the light every time you move and leaves your skin looking like it's permanently on vacation. Though these body oils…
Oil Giants Warn Energy Market to Worsen as US-Iran Strikes Resume
Italian energy giant Eni warned that the situation could deteriorate in the short term amid declining global oil reserves and increased competition for energy resources, CEO Claudio Descalzi said in an interview with Il Sole 24 Ore.'We all believed…
EU Eyes 2040 Electrification Target To Slash Oil and Gas Dependence
The European Commission is set to unveil next week an electrification target for 2040 in a bid to reduce the need for fossil fuels and strengthen the renewable energy sector in the EU, according to a draft proposal seen by Bloomberg News. The…
Ukrainian attacks on Russia kill 1 as Kyiv continues to target oil tankers and refineries
Email Address: I agree to the Terms and Conditions, Cookie and Privacy Policies, and CASL agreement. Already have an account? Log in here - To continue reading, please subscribe: One year of digital access for only $205 * Enjoy unlimited reading on…
Strait of Hormuz blocked, oil flows diverted: Is there a way out?
3 min read New Delhi Make us preferred source on Google US and Iranian forces continued to exchange missile and drone assaults on Sunday after Washington attacked Tehran over an Iranian strike on a vessel in the Strait of Hormuz that set the vessel…
Receive a Daily briefing on Oil Industry News
Get Started