Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Asia 'scraping the bottom of the barrel' as Red Sea oil blockade worsens energy crisis
Governments in Asia are scrambling to avoid their second major energy crisis in six months, as another maritime chokepoint in the Middle East faces a violent blockade, leaving only the Suez canal completely open for the free movement of gulf oil.
Tokyo to boost financial support for overseas oil pipeline investments
The government is planning to expand its financial support to Japanese companies investing in pipeline projects overseas including the Middle East, as part of efforts to strengthen alternative oil and gas transportation routes in the Gulf region to…
Stocks jump as US-Iran pause sees oil price fall
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. The FTSE 100 closed higher in London on Monday as…
Higher Oil, AI Spending And Tariffs Test Markets
Rising oil prices are increasing inflation risks but remain a sector-specific story. AI leaders are facing greater scrutiny over capital spending. Tariffs return to the spotlight, though the economic impact appears limited. Markets were relatively…
Oil prices drop on hopes of renewed U.S.-Iran talks - TT
Small boats line the shore as cargo ships and other commercial vessels appear anchored in the Strait of Hormuz off Bandar Abbas, Iran, on July 27. (Razieh Poudat/ISNA via AP) Oil prices extended their declines as the U.S. and Iran refrained from…
Oil plunges, stocks 'n' bonds shrug
ORLANDO, Florida, July 27 (Reuters) - Oil prices tumbled on Monday as the U.S. and Iran swapped attacks on each other for dialogue, while Wall Street and Treasuries traded in much narrower ranges as investors looked ahead to a raft of big tech…
One Megabuyer-China-Finds a Way to Get Mideast Oil
Wartime disruptions at two shipping chokepoints in the Middle East are sending shock waves through global markets. China has still found a way to get oil from the region. Iran -backed Houthis in Yemen began last week to attack Saudi-linked oil…
Texas refineries see Venezuelan oil imports soar
Brandon Mulder is a journalism fellow at the University of Texas Energy Institute. Imports of Venezuelan crude oil into the Gulf Coast have sharply risen in the months since the U.S. took control of Venezuela's oil industry, giving Texas oil…
Oil Extends Decline, Asian Stocks Set for Losses: Markets Wrap
Asian equities declined as renewed concerns over artificial-intelligence spending fueled another selloff in chipmakers. MSCI's Asia Pacific equity gauge fell 1.9%, with chip majors SK Hynix Inc. and Samsung Electronics Co. contributing the most to…
Ngau Chi Wan grocery store doused in oil and chair stolen in suspected revenge
A Ngau Chi Wan grocery store was vandalized with oil and had a chair stolen on Tuesday afternoon, with police suspecting a link to a dispute that occurred a few days earlier. SCROLL TO CONTINUE WITH CONTENT Police were alerted at 2.29pm by the shop…
Chips Drag Emerging Stocks to April Low, Oil Shields Currencies
The slide in the Asian tech stocks pushed the benchmark for emerging markets to the lowest in three months, though the pullback in oil prices helped shield European bourses and currencies from the selloff. The MSCI Emerging Markets Index was down…
Oil Falls Amid Ongoing Pause in U.S.-Iran Hostilities
2335 GMT — Oil falls in the early Asian trade amid the continuing pause in U.S.- Iran hostilities. The “U.S. paused daily strikes on Iran for a 3rd consecutive night and Iran continued to signal it was refraining from any retaliatory…
Stocks jump as US-Iran pause sees oil price fall
The FTSE 100 closed higher in London on Monday as investors welcomed a temporary pause in hostilities between the US and Iran, which helped drive the oil price sharply lower. The FTSE 100 index closed up 45.52 points, 0.4%, at 10,781.75. The FTSE…
Kazakhstan's daily oil output halves after export terminal closure, source says
Kazakhstan, among the world's 10 biggest oil producers, has more than halved its daily oil output after the closure of its main exporting terminal in Russia's Black Sea over drone attacks, an industry source said on Monday. SCROLL TO CONTINUE WITH…
Australia to Study Building First Oil Refinery Since the Sixties
Australian federal and state governments and industrial company Perdaman Group will study the feasibility of a new oil refinery in a move to rebuild domestic capacity after the Iran war highlighted the nation's dependence on imported fuels. Prime…
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