Oil Industry News
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Ecopetrol Completes $1.2 Billion Brazilian Oil Deal
Colombia's state-controlled oil company Ecopetrol (NYSE: EC) has completed its roughly $1.2 billion acquisition of a controlling 51% stake in Brazil's Brava Energia, significantly expanding its position in one of Latin America's most important…
Energy Stocks Soar to Record as Oil Rises on Trump's Hard Line
Energy stocks are closing in on record levels reached earlier this year amid the Middle East war as investors see diminishing prospects for a near-term ceasefire that could ease the standoff in the crucial Strait of Hormuz. The S&P 500 Energy…
Brazil's President Lula hails oil discovery near Amazon river
Brazilian President Luiz Inácio Lula da Silva has hailed the discovery of oil near the mouth of the Amazon river. Speaking after the find was announced by Brazil's state-run oil company Petrobras, he said it could be 'a passport to the…
How Gulf Oil Is Escaping the Strait of Hormuz
Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world's biggest oil chokepoint creates new risks. VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot VLCC prices are ballooning out of control (once…
FTSE 100 holds modest gains with oil stocks up amid rising prices
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 outperformed European peers on Tuesday, with…
Oil prices gain after climbing 2.7% the day before - TT
A man checks gas prices at a gas station in Buffalo Grove, Ill. (Nam Y. Huh/AP/file) Oil prices have crept higher after a brief respite last month driven by hopes for an end to the war with Iran. The price for a barrel of Brent crude gained 2.7% on…
BP Joins Venezuelan Oil Trade to Challenge Trafigura and Vitol
BP Plc has become the latest foreign company to begin trading Venezuelan oil since the US removed former President Nicolás Maduro, following in the footsteps of Trafigura Group and Vitol Group. The tanker Monte Lema finished loading fuel oil…
Wall Street indexes slip as oil prices rise, retail results awaited
Wall Street's three major indexes fell on Monday as investors waited for quarterly reports from large retailers to provide insights into U.S. consumer spending, while oil prices rose as the U.S. and Iran appeared no closer to a deal. SCROLL TO…
AI Trading And Research Tools May Be Amplifying Oil Market Complacency (NYSEARCA:SPY)
Complacency in equity and energy markets persists despite severe oil supply disruptions from Iran and Ukraine conflicts, with S&P 500 near record highs. AI-driven trading and research reinforce institutional (EIA & IEA) narratives, downplaying…
Oil prices jump after US-Iran ceasefire expires and Trump threatens Oman
Oil prices have risen again after the two-month window to negotiate a peace deal in the US-Israel war on Iran expired on Monday with no end to the conflict in sight. Iran said on Monday that it would take a more aggressive stance if talks with the…
US Stock-Index Futures Drop as Bond Yields, Oil Prices Rise
US stock-index futures fell as rising bond yields and a spike in oil prices unnerved investors. Contracts on the tech-heavy Nasdaq 100 dropped 0.8% as of 3:11 a.m. in New York, while those on the S&P 500 fell 0.4%.
Brazil's president says Amazon oil is 'passport to the future'
Brazil's President Lula da Silva has praised the discovery of oil off the Amazon coast, despite opposition from environmentalists to drilling in the area. He called the find a “passport to the country's future”, saying it would…
Oil prices at near three-week high as US-Iran peace hopes fade
Oil prices rose for a third session on Tuesday as prospects receded for a deal to end the Middle East war, with Iran saying it would adopt a more offensive stance and the U.S. ruling out extending a ceasefire deal, heightening worries about…
China eyes peak oil demand by 2030 amid pipeline increase, smart rig tech plan
China has announced a new dedicated five-year plan to drill more crude oil and expand its network of pipelines as the world's largest importer of fossil fuels faces heightened supply risks from geopolitical tensions. The plan, unveiled on Monday by…
S-Oil's Shaheen project to boost Korea's petrochemical competitiveness
S-Oil said Tuesday that its Shaheen project, a massive petrochemical facility expansion which is under construction with commercial operations targeted for next year, will help strengthen the global competitiveness of Korea's petrochemical…
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