Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Down With Oil Futures on U.S.-Iran Talks Hopes -- Energy Roundup
Shares of energy companies fell alongside oil futures after reports that a U.S. delegation led by Trump administration negotiators Jared Kushner and Steven Witkoff was travelling to Pakistan for potential talks with Iran. Iran's foreign minister…
Supreme Court hands oil industry major win in energy lawsuit
The Supreme Court delivered a sweeping victory for the oil and gas industry on April 17, unanimously ruling that a high-stakes Louisiana environmental lawsuit must be heard in federal court — a decision that could undercut hundreds of…
'The damage is done': global oil crisis has changed fossil fuel industry for ever, IEA chief says
The oil crisis triggered by the Iran war has changed the fossil fuel industry for ever, turning countries away from fossil fuels to secure energy supplies, the world's leading energy economist said. Fatih Birol, the executive director of the…
Tenaris: The Picks-And-Shovels Play For An Oil Supply Crisis
LOS ANGELES, CALIFORNIA - MARCH 10: An aerial view as oil pumpjacks operate while others stand idle in the Inglewood Oil Field on March 10, 2026 near Los Angeles, California. A barrel of oil passed the $100 mark yesterday amid the war in Iran for…
The Oil Futures Market Is Lying to Us
The oil market, like nature, abhors a vacuum. It's got one anyway, and a big one at that. Roughly 15 million barrels a day of oil supply, 15% of global demand, are bottled up in the Strait of Hormuz. You can also think about that number as the…
Tourmaline Oil Corp. stock falls Friday, underperforms market
Shares of Tourmaline Oil Corp. TOU shed 1.03% to C$59.83 Friday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.03% to 33,904.11. Tourmaline Oil Corp. closed…
Lincolnshire Wolds oil well to be decommissioned
Holly PhillipsEast Yorkshire and Lincolnshire An oil well in the Lincolnshire Wolds is to be decommissioned after plans to drill there were scrapped last year. The plans for the site in Biscathorpe, near Louth, were abandoned after a long campaign…
Oil-Price Surge Fails to Stoke US Energy-Sector Enthusiasm
This article is for subscribers only. I'm Catarina Saraiva, a Federal Reserve reporter in Houston. Today we're looking at the potential Iran war impact on the US job market. Send us feedback and tips to. And if you aren't yet signed up to receive…
US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
WASHINGTON (AP) — President Donald Trump's administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. The move, announced Friday and…
The POWER Interview: How the Oil and Gas Industry is Advancing Geothermal
The International Energy Agency (IEA) earlier this year reported that its analysis of recent data on geothermal power showed financing for the sector reached nearly $2.2 billion last year. The investment represents an 80% increase from the prior…
US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
The Trump administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. The move, announced Friday and first reported by The Associated Press…
'He's Not Done Yet!' - Oil Company Valuations Rise As Scale And Scarcity Drive Consolidation
The Iran conflict has certainly changed short term oil prices, amongst a whole lot of other things, in the past two months. Before that, however, oil prices did not send a particularly strong signal heading into 2026. Futures curves suggested…
What impact will soaring oil prices have on BP's earnings?
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. Rocketing oil prices on the back of the Iran war are set…
US imposes sanctions targeting Iran's oil network in China
The Treasury Department on Friday announced new sanctions on a Chinese oil refinery and dozens of shipping firms and vessels, including those with ties to Hong Kong, in a bid to disrupt Iran's oil exports. The sanctions take aim at a main revenue…
US won't renew Iranian and Russian oil waivers, Bessent says
Treasury Secretary Scott Bessent said Friday that the U.S. does not plan to renew a waiver allowing the purchase of Russian oil and petroleum products that are currently at sea. And, he said, a renewal of the one-time waiver for Iranian oil at sea…
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