Oil Industry News
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Energy Up with Oil Futures as Stalemate Continues -- Energy Roundup
Shares of energy companies rose alongside oil futures with no end to the energy shock in sight. Oil futures rose by more than 4% in New York to top $102 a barrel after statements from President Trump indicated a cease-fire between the U.S. and Iran…
Crude oil from Azerbaijan arrives in Japan
A tanker carrying some 45,000 kiloliters of crude oil from Azerbaijan has arrived at an Eneos refinery in Yokohama, officials at the energy company said Tuesday. The shipment of Central Asian oil arrived in Japan for the first time as the country…
Tourmaline Oil Corp. stock rises Tuesday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.82% higher to C$66.41 Tuesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.44% to 34,290.73. Tourmaline Oil Corp.
Texas oil and gas industry reports job gains in March
(The Center Square) – Rebounding from job losses in earlier months, the Texas oil and natural gas industry reported job gains in March. Total jobs are still down over the year by at least 3.5%, according to new employment data published by…
Japanese Refiner Secures Mexican Oil to Bypass Hormuz Chaos
A Japanese refiner bought Mexican crude oil for the first time since 2023 as it navigates supply disruptions triggered by the Iran war and the near-closure of the Strait of Hormuz. Vessels Eagle Kuantan and Eagle Kangar are set to load a combined 1…
Daily on Energy: Energy soars in CPI, Trump to China, and Big Oil loves Alaska
ENERGY AND ELECTRICITY PRICES SOAR: Electricity prices and energy prices overall soared last month, well outpacing inflation, driven by global disruptions from the Iran war. The details: The Bureau of Labor Statistics released the latest update to…
Analysts See Withdrawal in U.S. Crude Oil Stockpiles
The average estimate of nine analysts and traders sees commercial crude stocks down by 2.3 million barrels at 454.9 million barrels in the week ended May 8. Eight expect a withdrawal and one predicts an increase. Expectations range from a build of…
Gold dips as oil gains add to rate uncertainty
Gold prices were under pressure on Tuesday as fading hopes for an Iran peace deal pushed oil prices higher, adding to concerns about inflation and the prospect of higher global interest rates. SCROLL TO CONTINUE WITH CONTENT Spot gold fell 1…
India Absorbs Global Oil Shock As Hormuz Crisis Tests Energy Security Framework
New Delhi: The closure of the Strait of Hormuz earlier this year has triggered one of the most severe global energy disruptions in recent decades, sharply exposing the vulnerabilities of oil-importing economies, including India. Yet, despite…
Bond Market Ditches Warsh Trade as Oil Surges
This article is for subscribers only. Not long ago, the US Treasury market thought it had the Kevin Warsh trade figured out: Simply bet on the multiple interest rate cuts that the nominee had been expected to deliver if he got the job to lead the…
Global energy crisis highlights meagre oil buffers in developing world
As the blockade of the Strait of Hormuz drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock. Although…
Oil Holds Gain With Iran's Exports Strained as Conflict Drags On
Oil was steady as the conflict in the Middle East drags on and keeps the vital Strait of Hormuz effectively closed, with shipments from Iran's main export terminal appearing to come to a standstill. West Texas Intermediate futures traded near $102…
Crude Oil Futures Climb Over 3%; Brent breaches $107
Crude oil futures experienced a significant surge, climbing over 3 per cent, as US President Donald Trump's recent remarks questioning the durability of the Iran ceasefire reignited fears of potential supply disruptions from the volatile West Asia…
Is AI power really the new oil? Soon it will trade like just like a commodity.
Practically since the launch of ChatGPT in late 2022, people have been saying that “compute” — shorthand for the immense computing power required by AI models — could become the oil of the 21st century. Whether or not…
Oil shortages are even hitting colored snack bags
First, fuel prices surged. Now, even potato chips aren't safe from the global petrochemical squeeze. In Japan, snack giant Calbee — known for its popular potato chips — is switching some colored snack packaging to black and white…
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