Oil Industry News
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Daily on Energy: Oil price relief, demand destruction, and an effort to speed nuclear
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for…
Watch French Finance Minister Roland Lescure on Iran Ceasefire, Energy Shock, Oil, Economy
France's Lescure on Iran Ceasefire, Energy, Economy French Finance Minister Roland Lescure discusses the Iran war, energy markets and the economy. Lescure will join the International Monetary Fund meetings in Washington this week as policymakers…
'Aberdeen should be booming' says Trump, as he pushes for more North Sea oil
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. US president Donald Trump has said “ Aberdeen…
Stocks rise, oil falls, on fresh Middle East hope
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. European stocks advanced on Tuesday, and the oil price…
'Aberdeen should be booming' says Trump, as he pushes for more North Sea oil
US president Donald Trump has said “ Aberdeen should be booming” as he said the UK Government is “absolutely crazy” not to boost oil and gas extraction in the North Sea. Mr Trump took to his Truth Social page on Tuesday…
BP Says Oil Trading Result Was 'Exceptional' as Prices Soared
BP Plc said its oil traders boosted first-quarter earnings as the Middle East conflict jolted energy markets. The oil trading result for the quarter is expected to be “exceptional,” the energy giant said in a trading update on…
The Physical Oil Market Isn't Buying This Price Pullback Yet
A sharp selloff Tuesday dragged oil futures to their lowest prices in weeks, even as refiners continued scrambling for real-world cargoes of crude. Benchmark U.S. crude futures slid 7.9%, to $91.28 a barrel, alongside renewed hopes for U.S.-Iran…
BP hails 'exceptional' trading as oil prices soar in Iran war
BP expects to post “exceptional” earnings from its oil trading desk, reaping a windfall from choppy energy markets triggered by the US-Israeli war on Iran. Energy traders are navigating significant market volatility after Tehran's…
Global Oil Demand Growth Completely Wiped Out By Gulf Energy Shock
The global demand destruction playbook we outlined last month, describing how the Gulf energy shock would spread across continents, is now materializing on a large scale. The International Energy Agency said in a Tuesday update that global oil…
The Biggest Oil Producer in the World Is in North America
The biggest oil producer in the world is the United States. That has been true since 2018, when U.S. crude oil production moved past every other country and has generally increased on the back of shale oil, hydraulic fracturing and horizontal…
Oil prices may be starting to come down for a worrisome reason
Oil prices have started to slip — but not necessarily for reasons that suggest a return to market normalcy. The International Energy Agency said Tuesday that “demand destruction” has begun to unfold. As a result of the acute…
Hong Kong stocks surge as hopes of US-Iran talks ease oil price fears
Mainland Chinese and Hong Kong stocks advanced on Wednesday, tracking overnight gains on Wall Street, as renewed optimism over a potential resumption of US-Iran talks eased geopolitical concerns and dragged oil prices lower. Hong Kong's Hang Seng…
Oil Declines Amid Hopes of More U.S.-Iran Talks
0012 GMT — Oil declines in early trade amid hopes of more U.S.-Iran talks that could lead to an easing in supply disruptions in the Middle East. The negotiations are likely to resume, U.N. Secretary General António Guterres said after…
What's a Barrel of Oil Really Worth?
These days, the price of a physical barrel of oil is significantly higher than what oil prices in financial markets suggest. One explanation is the severe physical shortage in oil markets. Plus, oil price moves are so volatile that traders aren't…
U.S. Hormuz blockade hits India just as Russian oil purchase waiver expires, deepening energy worries
India is increasingly finding that U.S. policies work to its detriment, particularly in matters of energy security. The U.S. blockade of the Strait of Hormuz to cut Iranian oil supply will hurt India, which imported its first Iranian oil shipment…
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