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 prices rally as global stocks retreat
By Chris Prentice and Amanda Cooper NEW YORK/LONDON, Aug 14 (Reuters) - U.S. and European shares fell on Friday and oil prices gained as markets monitored tense U.S.-Iran talks and digested new data that dented expectations for a Federal Reserve…
US Threat to Boost Economic Pressure on Iran Unnerves Oil Market
Oil held this week's gain as traders weighed a US threat to impose unprecedented economic pressure against Iran. Brent traded near $87 a barrel, edging off highs reached earlier in the session but still up more than 4% for the week. Treasury…
Africa's Oil and Gas Opportunity Is No Longer Just About Finding More Oil
Photo taken on March 25, 2026 shows vehicles getting refueled at a petrol station in Johannesburg, South Africa. Africa's oil and gas industry is entering a new investment cycle. But unlike previous periods of enthusiasm, the continent's…
Could Trump profit from the Iran oil windfalls he criticized?
President Donald Trump has railed against American oil companies for cashing in on soaring fuel costs since the launch of the Iran war in February, but the president has invested in the very firms he is now criticizing and may have benefited from…
Oil moves higher as U.S. threatens 'economic isolation' of Iran
Oil prices rose early Friday after the U.S. said its naval blockade of Iranian ports could continue 'indefinitely', reigniting concerns over energy flows through the critical Strait of Hormuz. Brent futures, the international oil price benchmark…
U.S. oil companies cut capital spending in shale basins - TT
A pumpjack operates in the Permian Basin near Midland, Texas. (Daniel Acker/Bloomberg) Major U.S. shale producers including Chevron, ConocoPhillips and Occidental reduced drilling and fracking spending while prioritizing shareholder returns, debt…
Oil Edges Lower Amid Mixed Signals
2335 GMT — Oil edges lower in early trade amid mixed signals. On one hand, there are signs of oil flows rising, ANZ Research analysts say in a research report. “Persian Gulf producers such as the U.A.E. and Saudi Arabia are said to be…
Oil prices climb on 2 tanker attacks in Strait of Hormuz - TT
Oil residue lines the shore near fishing boats on Qeshm Island, Iran, on Aug. 13 amid ongoing wartime attacks on vessels and infrastructure in and around the Strait of Hormuz, though the spill's source has not been independently determined.
Tankers go dark for longer to get oil out of Middle East - TT
Ship-tracking data shows Romania Prosperity idling in waters off Fujairah and Sohar in recent days, but a lengthy period when it had its transponder turned off makes it hard to know what it actually did. (Bloomberg) Supertankers increasingly…
Oil spill appears in Iranian waters off Oman
Two slicks have appeared in Iranian waters, satellite imagery and video verified by Reuters show, as tit-for-tat attacks on oil tankers and other vessels by Iran and the United States spark concerns about environmental damage to the Gulf. A…
Current price of oil as of Aug. 14, 2026
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Indian Stock Markets Decline: Geopolitical Tensions, Oil Prices Impact Investor Sentiment
Indian stock markets, including the Sensex and Nifty, experienced a downturn, with the Nifty falling for the fourth consecutive day, as elevated oil prices and persistent geopolitical tensions between the US and Iran dampened investor confidence.
8 Shades of Summer Fridays' Lip Oil Are Up to 27 Percent Off
We all know and love the Summer Fridays lip balm. But if you want to kick things up a notch, the brand's nourishing lip oil is just as good. It has a slicker formula and comes in a range of flattering shades, all of which are sheer enough for…
Ukrainian drones strike major oil refinery deep inside Russia, setting it ablaze
KYIV, Ukraine (AP) — Ukrainian drones struck a major refinery deep inside Russia, military officials said Thursday, the fourth in three days in Kyiv's ongoing campaign to choke Moscow's vital oil sector. Russia is one of the world's biggest…
Oil rises after US threatens indefinite blockade of Iran; set for weekly gains
Aug 14 (Reuters) - Oil prices rose on Friday and were on track for weekly gains after the United States threatened an indefinite naval blockade of Iran, raising concerns about disruptions to crude supplies from the Middle East. Brent…
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