Oil Industry News
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Energy Up as Oil Futures Level Off -- Energy Roundup
Shares of energy companies rose as oil futures levelled off. New York-traded oil futures fell 65 cents, or 0.9%, to $73.21 a barrel after the U.S. lifted sanctions on Iranian oil. Iran and Oman said in a joint statement they were working on an…
Renewables To Squeeze Oil And Gas Imports In New Electric Age For Asia
Motorists wait to refuel their vehicles in Sri Lanka in March 2026. The Iran war has settled for an uneasy truce. But the price of oil will take months to fall to pre-war levels. Same for elevated prices of gasoline and diesel – not just in…
Oil extends decline as Trump accuses oil firms of 'gouging' consumers
Oil prices fell as concerns over disruptions to shipping through the Strait of Hormuz eased. Trump urged a DOJ probe into fuel prices, accusing oil companies of gouging consumers. More than 11,000 seafarers were cleared to transit the key oil…
Trump touts economy, oil prices
Trump's visit comes as his administration is facing economic headwinds. While the U.S. and Iran signed a memorandum of understanding (MOU) to continue nuclear talks and open the Strait of Hormuz, prices remain high, including at the gas pump.
City of Los Angeles looking to phase out urban oil drilling
Los Angeles is taking a major step toward reinstating a citywide phase-out of urban oil drilling, with city leaders saying it's a fight that has been years in the making. Neighbors near oil drilling say they face noise, odors, truck traffic, health…
China's Independent Oil Refiners Slash Runs to Nine-Year Low
China's independent oil refiners have slashed operating rates to a nine-year low, highlighting the lingering impact of the US-Iran war on the leading importer of Tehran's crude. Run rates at so-called teapots fell to 50.5% in the week to June 21…
Trump touts economy, oil prices in Pennsylvania stop
President Trump touted affordability, investments and jobs Tuesday as he hit the campaign trail once again, this time in key swing state Pennsylvania. The president visited the Mack Truck facility in Macungie, a part of Pennsylvania's 7th…
Government's Big Plans For North East Oil Exploration
A tripartite pact -- amid the promise of removing AFSPA from almost all of the North East -- revives hydrocarbon exploration along the Assam-Nagaland border after decades of dormancy. India is reviving North East oil exploration as West Asia crisis…
Iran rushes to woo Asia's largest oil importers after U.S. waiver
Iran is racing to court some of Asia's largest oil buyers as a 60-day U.S. sanctions waiver takes effect, a temporary lifeline that should allow Tehran to resume exports and begin clearing a backlog of cargoes on the water, even as peace talks…
North Sea Crude Weakens as Mideast Oil Floods Back to Market
Key indicators in the North Sea crude market are showing signs of weakness as a wave of Middle Eastern oil heads to Europe, fueling concerns about a supply glut following the reopening of the Strait of Hormuz. Forties crude, one of the six grades…
Oil prices hit lows not seen since early March on US-Iran peace talk progress
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. Oil prices have fallen back further towards levels seen…
Mexico eyes sending oil after Cuba's major liberalization
“The mechanism would be through private companies that have permits to transport fuel to Cuba,” Sheinbaum said, according to the Associated Press. “We hope that commercial transport can resume soon.” Cuba has been facing…
Trump touts U.S. economy and oil prices in a midterm pitch in Pennsylvania
MACUNGIE, Pa. — Speaking in a key Pennsylvania swing district on Tuesday, President Donald Trump sought to reassure voters that costs are coming down and that they are better off than they were two years ago. After the war with Iran helped…
Stocks hit by Fed rate reality check; oil slips
LONDON, June 23 (Reuters) - Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to tackle inflation, even after a 16% drop in oil prices…
The End of the Oil Shock Doesn't Mean More Fuel for the U.S. Stock Market
A tech selloff Tuesday is dragging the S&P 500 into the red for its second straight day, even as front-month Brent crude futures are on pace for their lowest close since the start of the war. The moves suggest the tenuous wind-down of the conflict…
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