Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela Defends Right to Strengthen Oil Industry at COP31
Venezuela's defense of a stronger oil sector at COP31 sharpened a debate over energy priorities, while island states sought faster emissions cuts and developing nations called for climate finance. Acting President Delcy Rodriguez argued that…
Oil Slips Again as Traders Weigh Diplomacy Hopes
0115 GMT — Oil prices slip, surrendering gains made after comments from Trump saying the U.S. no longer needs a deal with Iran. Trump also said he would prefer Vice President Vance, who has taken the lead in negotiations, to shift focus…
Ukraine set to be focus of EPC summit as UK sanctions Russia's top ten oil producers
Prime Minister Andy Burnham arrives at the European Political Community in Dublin this afternoon following the COP 31 summit in Türkiye. Major new sanctions package announced as leaders convene on Ukraine following peace talks in Abu Dhabi…
Asian Stocks Set for Cautious Open on Nvidia, Oil: Markets Wrap
Stocks in Asia looked set for a cautious open as investors weighed the fallout from Nvidia Corp.'s leadership upheaval on the broader artificial-intelligence trade, a rally in oil and a surge in Treasury yields. Asian equity-index futures were…
Oil Prices Rebound as Trump Questions Need for Iran Deal -- 2nd Update
Brent crude for January delivery rose 3.3% to $95.82 a barrel, and West Texas Intermediate for December gained 2.6% to $88.74 a barrel. 'We don't need a deal with Iran. Those days have long since passed,' Trump wrote in a Truth Social post. He also…
Sharp swings for Nvidia and oil prices weigh on Wall Street
NEW YORK (AP) — Big swings for Nvidia's stock price and oil prices are weighing on Wall Street Thursday, but the U.S. market appears to be absorbing them. After falling nearly 1% at the start of trading, the S&P 500 quickly pared its drop to…
Oil Prices Rise as Middle East Supply Risks Persist
Oil prices rose Friday, rebounding from declines earlier in the session, as traders weighed continued disruptions to Middle Eastern oil shipments against prospects for U.S.- Iran diplomacy. Front-month Brent crude futures rose 0.6% to $96.43 a…
U.S. Crude-Oil Stockpiles Post Unexpected Weekly Build
U.S. crude-oil inventories rose unexpectedly last week, ending a string of five straight weekly withdrawals amid higher imports and a decline in exports, according to data released Thursday by the U.S. Energy Information Administration. Commercial…
US returns over $12 billion in oil proceeds to Venezuela since Maduro's ouster, report says
The Trump administration says it has returned more than $12 billion, or almost 99%, of the revenue obtained from the sales of Venezuelan oil since it ousted then-President Nicolás Maduro in January. In a report released Thursday by the State…
Oil Jumps After Trump Says US Doesn't Need Deal With Iran
Oil climbed, erasing earlier losses, after President Donald Trump said that the US doesn't need a deal with Iran, leaving the conflict that has roiled Middle East supplies unresolved. “We've got their money, hundreds of billions of dollars…
Democratic Senators Press CFTC on Suspicious Oil Trade Probe
A group of Democratic senators are pressing the Commodity Futures Trading Commission on its investigation into well-timed oil trades ahead of major announcements by President Donald Trump on the Iran war earlier this year. The CFTC has been…
Higher Oil-Import Dependence Linked to Larger GDP Losses After Oil Shocks
A new S&P Global Institute report links greater reliance on imported oil with steeper GDP losses after oil supply shocks, while warning that electrification may shift energy-security exposure toward concentrated clean-technology supply chains.
Venezuela Tells Climate Doomers It Has 'Sovereign Right' to Pump Oil, Iran Demands Environmental Reparations
The U.N.'s COP31 climate alarmism summit in Antalya, Turkey, is proving to be a fractious affair, as energy-producing nations insist on their right to sell the fossil fuel products that drive their economies. On Thursday, Venezuela became the…
Venezuela tells COP31 it has a sovereign right to pump more oil
By William James and Simon Jessop ANTALYA, Turkey, Nov 12 (Reuters) – Venezuela's Acting President Delcy Rodriguez told the COP31 climate conference on Thursday that the country has the sovereign right to develop its oil industry…
Stock Market Today: Futures Fall On Trump Oil Remarks; Nvidia Plunges On New CEO Reports (Live Coverage)
Futures for the Dow Jones Industrial Average dropped while tech futures tumbled Thursday, as oil prices rose after President Donald Trump claimed the U.S. doesn't need a peace deal with Iran. Meanwhile, Nvidia (NVDA) stock plunged amid reports the…
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