Oil Industry News
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Energy Down Alongside Oil Futures - Energy Roundup
Shares of energy companies ticked down alongside oil futures. Oil fell 1.3% to $68.58 a barrel, the lowest level since the eve of the Iran war. Oil prices have now declined on six of the last eight sessions. Commercial crude oil stocks excluding…
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
John Johnston BBC Scotland, Shetland Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site.
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site. The company has been reducing the…
Iran's Floating Oil Stockpile Swells as Major Buyers Stay Away
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington. More than 58 million barrels of Iranian crude and condensate was on-the-water as of July 1…
U.S. Crude Oil Inventories Extend Decline
U.S. crude oil inventories fell for a 10th consecutive week as exports remained high and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration. Commercial crude oil stocks excluding…
Daily on Energy: Trump's nuclear deadline met, oil prices decline further, and U.S. to outpace China on fossil fuel spending
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson). Email cpatteson@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this…
UBS Cuts Oil-Price Forecasts as Strait of Hormuz Flows Ramp Up
0106 GMT — Rising energy shipments through the Strait of Hormuz prompt UBS to cut its 2026-27 oil-price forecasts. UBS now expects Brent crude to average $84 a barrel this year, down $9 a barrel from earlier. It also lowers its 2027…
Oil falls as markets await outcome of Iran-US talks, US stocks data
LONDON, July 1 (Reuters) - Oil prices fell on Wednesday as talks between Iran and the U.S. aimed at reaching a final agreement to end their war continued and the market awaited data from the U.S. regarding stock draws. Brent futures fell 62…
Live: ASX to open lower as the price of oil drops
ASX 200 Futures: -0.2% to 8,693 points Australian dollar: +0.1% to 68.94 US cents Wall Street: S&P500 -0.2%, Dow -0.03%, Nasdaq -1.5% Europe: FTSE -0.2% Spot gold: +0.6% to $US4,030/ounce Oil: -2.5% to $US71.16/barrel Iron ore: -1.1% to…
Ukraine hit a Russian oil refinery for the second time in a week, Zelenskyy says
KYIV, Ukraine (AP) — Ukrainian forces struck Russia's major Ufa oil refinery for the second time in a week, Ukrainian President Volodymyr Zelenskyy said Wednesday. Almost daily long-range attacks on Russian oil facilities have created a fuel…
US cooking oil market shrinking due to Ice pressures on Latino households, Mazola owner says
The US cooking oil market is shrinking and unlikely to improve soon because of economic and immigration enforcement pressures on Latino households, the owner of the Mazola brand has said. George Weston, the chief executive of Associated British…
Oil prices fall after U.S.-Iran talks conclude in Doha
The decline also came after U.S. President Donald Trump told reporters that negotiations with Iran in Qatar were 'going well.' Indirect negotiations between the U.S. and Iran began in Doha on Tuesday. Shady Alassar | Anadolu | Getty Images Oil…
Zelensky calls for peace after Ukraine strikes Russian oil refinery and military complex
Ukraine launched two long-range military strikes against Russia on Wednesday, hitting another oil refinery and a military facility, continuing the trend of its recent military success with such weapons. Russia's Ufa oil refinery and an aerospace…
ECB Views Splinter on Next Rate Move as Inflation Sinks With Oil
Just three weeks after the European Central Bank unanimously raised interest rates in response to the Iran war, there's no consensus on what to do next. Divisions over whether borrowing costs must rise further to get inflation back to 2% surfaced…
BOK expects inflation to ease in July on lower crude oil prices
Inflation is expected to ease in July from the previous month, supported by the government's efforts to stabilize consumer prices and lower crude oil prices following eased tensions in the Middle East, the central bank said Thursday. 'Consumer…
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