Oil Industry News

Oil Edges Higher on Fading Hopes for Strait of Hormuz's Reopening

2335 GMT — Oil edges higher on fading hopes for the reopening of the Strait of Hormuz. The Trump administration has told mediators it has no interest in returning to the terms of a preliminary deal it reached with Iran, which later fell…

Ukraine's drone attacks have left Russia desperately scrambling for oil imports

A sanctioned shadow fleet tanker carries oil from Nato member Turkey to a Russian Baltic port. A deal is signed for Russian oil to be processed in Kazakhstan. Fuel cargoes arrive from India via Egypt. The Kremlin pressures allies to sell it badly…

U.S. looks to Canada for oil, aluminum and pickup trucks - TT

Ford's Oakville Assembly Complex in Ontario will make F-150 Super Duty trucks. (CHCH News via YouTube) President Donald Trump says the U.S. does not need Canada, but the countries remain deeply linked through energy, materials and manufacturing…

US close to reaching a 'massive' deal for Venezuela's oil: report

The U.S. is reportedly close to cementing a “massive” deal for access to Venezuelan oil fields. 'Calling this deal huge would be an understatement,' a U.S. official familiar with negotiations told Axios. 'It is massive.' The deal…

Soap Is Shale's Latest Breakthrough to Boost US Oil Production

Forget AI-assisted drilling, U-shaped wells and round-the-clock fracking. One of the hottest technologies to squeeze more oil from US shale fields is better soap. Companies have long used detergent-like additives, called surfactants, to coax oil…

Hormuz oil flows rising as Middle East producers ramp up - TT

Ships anchored in the Strait of Hormuz off the coast of Bandar Abbas, Iran. (Ali Saeedi/Getty Images) Crude shipments through the Strait of Hormuz rose to about 6 million to 8 million barrels a day as Gulf producers increased exports despite…

Nasdaq Futures Buoyed by Nvidia Earnings, Software as Oil Falls

U.S. technology futures jumped in early European trade after bumper earnings forecast renewed optimism around artificial-intelligence stocks, while software earnings quieted investor pessimism on the sector. The world's most valuable company raised…

Hormuz Oil Flows Rising as Gulf Giants' Ramp Up Accelerates

(Bloomberg) -- The flow of crude through the Strait of Hormuz is creeping higher as producers across the Middle East boost exports in the face of Iran's lingering threat to shipping. The increase is keeping global crude oil prices in check. About 6…

Oil prices steady on Iran-Oman talks over Hormuz - TT

Nasdaq signage at the Nasdaq MarketSite in New York. (Michael Nagle/Bloomberg) Oil prices are steady as talks between Iran and Oman on increasing energy flows in the Strait of Hormuz helped ease prices this week. U.S. futures are mostly higher as…

Trump Close To 'Massive' Deal For Seizing Stake In Venezuela's Vast Oil Fields

Amid ongoing global oil supply disruptions due to the Iran war and Hormuz Strait crisis, and also as Ukraine's war on Russian oil refineries and export terminals heats up, the Trump administration has been scrambling to tap new reliable and…

Alberta predicting 2026 budget surplus thanks to oil prices, Middle East war

Alberta's finances are swinging back into the black after war in the Middle East sent global energy prices surging. The province's latest fiscal update for the 2026 Alberta budget predicts a $2-billion surplus — a huge turnaround from the…

Current price of oil as of Aug. 27, 2026

Expert says Iran losing Hormuz leverage as defenses and oil role decline

Though the Islamic Republic has established a “sophisticated panoply” to protect itself against the possibility of regime change, its trump card, the Strait of Hormuz, is losing its strategic value and will continue to do so, Dr.

$40 Oil Put These 2 Energy Dividends to the Test-Only One Passed

Both Tulsa pipeline giants raised payouts in 2026 and survived the last oil crash, but one carries a hidden scar from 2012 that changes everything for retirees counting on uninterrupted income when crude inevitably rolls over again. Published…

Acerta Energy Ltd. to Acquire Astara Energy Corp., Adding 5,000 boe/d of Oil-Weighted Production and Growing to an Estimated 13,900 boe/d at Close in Alberta's Established Conventional Oil Fairways

Adds 5,000 boe/d of operated, liquids-rich production, increasing current corporate production by approximately 67% to approximately 12,500 boe/d, rising to an estimated 13,900 boe/d at closing as new wells from Acerta's ongoing drilling program…