Oil Industry News
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Energy Down With Oil Futures -- Energy Roundup
Shares of energy companies fell alongside oil futures, which closed at their lowest level since the eve of the Iran war. West Texas Intermediate oil futures fell $2.69, or 3.7%, to $69.23 a barrel, its lowest settle since Feb. 27. Losses came…
Oil is nearing prewar prices. Why hasn't gasoline followed suit?
Oil is nearing its prewar price after the U.S. and Iran agreed to a memorandum of understanding (MOU) intended to end the conflict, but gasoline prices remain significantly elevated. While President Trump has blamed Big Oil for price…
Oil prices are low. Why not gasoline?
While President Trump has blamed Big Oil for price “gouging,” analysts say it's individual gas station owners that are slow to lower fuel prices. “The public is mad at the major oil companies because gasoline prices have not…
Oil and gas prices drop in time for Fourth of July driving
Oil and gas prices fell ahead of the Fourth of July weekend, as shipping traffic through the Strait of Hormuz picked up, easing the global supply strains created by the war with Iran. International benchmark Brent crude was trading at $72.05 a…
Oil And Gas Innovations Fuel Hope For Energy Independence
President Donald Trump's energy independence promise could depend on Permian Basin drilling. Despite 10% of the world's oil supply being reportedly trapped behind the Strait of Hormuz, energy industry insiders report expansions to U.S. oil…
2 Oil Stocks Still Worth Buying With Oil Down to $70 a Barrel
Even with crude oil dipping to around $70 a barrel, ConocoPhillips (COP 0.42%) and BP (BP 1.56%) offer compelling setups for investors focused on structural efficiency, resilient cash flow, and shareholder returns. Their shares are down more than…
Norway oil service lockout takes effect, disrupts offshore drilling
Norway's oil services labor dispute escalates leading to drilling disruption. A lockout affecting around 1,000 oil service workers was declared in response to an ongoing strike by several hundred members of the Safe union. The lockout impacts…
The AI trade cooled and oil sank. A closer look at Wall Street's volatile week
Wall Street spent the week debating who the biggest winners and losers of the artificial intelligence boom will ultimately be. Memory chipmaker Micron's blockbuster earnings reinforced the fervent demand for computing resources, but it also led…
Consumer Cos Up as Oil Continues its Retreat -- Consumer Roundup
Consumer companies rose as oil futures continued their retreat, boding well for gasoline prices. In the final June reading, the University of Michigan consumer-sentiment index rose to 49.5 from a record low of 44.8 in May, as the peace deal in Iran…
Saudi Aramco resumes oil loading at Ras Tanura in boost to supply
Two Very Large Crude Carriers loaded at Ras Tanura port with another waiting nearby. Saudi Arabia may cut August oil prices sharply. Iraq and Qatar offer crude via tenders. Two empty VLCCs entered the Strait of Hormuz on Friday to load Iranian oil.
Uganda set to start crude oil exports in October 2026'
Uganda is on course to begin its first crude oil exports in October 2026, marking a major milestone in the country's long-awaited commercial oil production programme. The announcement was made by Liu Xiangdong, president of CNOOC Uganda Limited…
Mexico Names New CFO for Embattled Oil Giant Pemex
Petroleos Mexicanos 's board named a new Chief Financial Officer, after the prior finance chief was promoted to the company's top job last month. The company's board approved Elizabeth González Garduño to the role effective June 25…
Oil Tanker Hit by 'Unidentified Projectile' in Strait of Hormuz, Says British Maritime Agency
London: A tanker transiting through the strategic Strait of Hormuz has been targeted and hit in the latest maritime incident, according to the United Kingdom Maritime Trade Operations (UKMTO). The captain of the tanker confirmed that the vessel was…
Oil Prices Move Off Recent Lows After Fresh Mideast Attacks
Earlier in the day, the U.S. benchmark futures contract ended the regular session below $70 a barrel for the first time since the Iran war began. Crude oil prices rose more than 1% late Friday after the U.S. launched a fresh attack on Iran. The…
New membrane could cut oil refinery energy use by nearly one-third
A team of international researchers has developed a simple membrane that could make crude oil refining much more energy efficient. Instead of relying only on high-temperature heating, the new technology can separate crude oil at room temperature…
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