Oil Industry News
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OPEC Sees No Peak Oil Demand as Energy Security Beats Climate
OPEC continues to see no peak in global oil demand, forecasting “robust growth” as governments in the US, Europe and elsewhere prioritize energy security and affordability alongside climate goals. “The increased focus on energy…
The Oil Market Canceled The Hormuz Crisis - Even Before The Ceasefire
(Photo by Jonathan Raa/NurPhoto via Getty Images) “The great commodity-market mystery is deepening” – The Well, the Hormuz affair is wrapping up. Maybe. But what exactly have we learned, economically speaking? Something quite…
Oil Prices Fall To 3-Month Lows On U.S.-Iran Deal
Commercial vessels and oil tankers preparing to transit through the Strait of Hormuz, one of the most critical strategic waterways for global trade flows, maintain their wait in the Gulf of Oman, on June 17, 2026. (Photo: Shady Alassar) Oil prices…
Oil Prices Continue Downward Trend - TT
A customer prepares to pump diesel fuel at this Madison, Miss., Sam's Club. (Rogelio V. Solis/AP/File) Oil prices continued their charge downward after the U.S. and Iran signed their initial agreement ending the war. Thanks to falling oil prices…
The Iran Deal Drives Oil Prices Down, But Uncertainty Looms
ISLAMABAD, PAKISTAN - APRIL 11: U.S. Vice President JD Vance (C) walks with Pakistan's Chief of Defence Forces and Chief of Army Staff Field Marshall Asim Munir (L), and Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar after…
Wave of Persian Gulf oil set to leave Asian refiners swamped
An impending wave of oil that's been trapped inside the Strait of Hormuz is set to be unleashed on Asia, which would suddenly swamp a region that had managed to make up for lost supply in recent weeks. Around 31 supertankers, capable of carrying…
The Mystery of China's Oil Demand Drop Is No Mystery
It's the biggest conundrum in the world economy right now: How has China managed to go on an oil detox? As my colleague Javier Blas has written, its sharply declining appetite for petroleum is probably the single biggest factor that has kept the…
The Iran oil shock taught traders these key lessons about demand and China
Global oil prices on Thursday touched their lowest level since the U.S.-Israeli war with Iran began almost four months ago. That marks a drop of more than 30% from their May peak and likely averts the disaster commodity experts had warned about as…
Trump Says Iran Deal Critics Are 'Fools' As He Touts 'Record High' Markets And 'Tumbling' Oil Prices
President Donald Trump lashed out at critics of his deal to end the war with Iran early on Thursday while touting soaring stock markets and falling global oil prices, hours after both he and his Iranian counterpart signed a preliminary agreement to…
Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal
Trump also reportedly said that he could resume attack on Iran if it failed to honor commitments. International Energy Agency expects a lasting resolution to the conflict could drive a surge in supply volumes and trigger a major oil overhang next…
Oil Prices Fall Amid Prospects of Fast Reopening of Strait of Hormuz
Senior U.S. officials who read the text of the interim agreement between the U.S. and Iran said the 'memorandum of understanding' would see Tehran reopen the strait after the U.S. lifts sanctions on Iran's oil sales. While the agreement was…
Watch Stock Futures Rise, Oil Falls on US-Iran Deal; Warsh Rocks Bond Market | Bloomberg Brief 6/18/2026
Stock Futures Rise, Oil Falls on US-Iran Deal; Warsh Rocks Bond Market | Bloomberg Brief 6/18/2026 US equity futures climb and oil slumps as energy shipments begin to pass through the Strait of Hormuz following the signing of an interim deal…
Oil prices sink further as Trump signs deal to reopen Hormuz
Oil prices tumbled again Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz. The news boosted optimism for a lasting peace between the two nations after more…
Oil prices drop further below 80 dollars a barrel as US-Iran peace deal signed
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 eased back further below 80 US dollars a…
Venezuela Hires Law Firm to Help Negotiate Oil Production Deals
Venezuela's short-staffed national oil company has hired international law firm Greenberg Traurig to help expedite contract negotiations with a flurry of companies ahead of a key regulatory deadline in August.
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