Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Iran Conflict Is Causing Record Oil Disruption, Energy Historian Says
The regional spillover of the Iran war is causing the largest-ever disruption of global oil markets, according to Dan Yergin, energy historian and S&P Global's vice chairman. Iraq, Kuwait and Qatar have shut down some energy production in recent…
Struggling trucking industry hit by higher oil prices
Increasing fuel prices are putting upward pressure on Australia's already struggling road transport industry. Global oil prices have spiked over the past week, reaching about $US114 a barrel on Monday, as geopolitical tensions rise in the Middle…
Why oil prices are trending | CNN Business
Crude oil prices soared on Monday as the Iran war continues to escalate, briefly surging to the highest level since Russia's invasion of Ukraine. CNN's Hanna Ziady explains what is causing the spike in prices. Discover more videos, including live…
Daily on Energy: Oil begins to settle, fireworks return to Mt. Rushmore, and a class action suit over Potomac sewage spill
Few, if any, tankers have been able to pass through the Strait of Hormuz over the last week, but that's not stopping President Donald Trump from saying the vessels should just go through regardless of the risks. 🚢 Keep reading to see what…
Defence taps industry for jet fuel as oil crisis deepens
Defence held talks with major resources companies late last year about securing more jet fuel and diesel amid concerns a global shock could threaten supplies, underlining the risk a prolonged Middle East conflict poses to Australia's reserves. As…
Oil briefly reaches $119 per barrel
It's unclear how long the disruption will last — and therefore how long the markets will be squeezed and how high prices will ultimately go. “The absolute disruption of flows through the Strait of Hormuz is by far the biggest…
Stocks tumble as oil surges and gas prices spike
Stocks fell sharply Monday morning as oil prices surged above $100 a barrel after Middle Eastern producers began cutting output amid the escalating war with Iran. The Dow Jones dropped 634 points or 1.34 percent, while the S&P 500 and Nasdaq also…
The Wild 24-Hour Rise and Fall of Oil Prices
This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here. For more than a week after the United States and…
Iran war sparks record oil price spike as crude oil goes above $100
War in the Middle East has caused a record spike in the price of oil, as the cost of a barrel rocketed to above $100 for the first time in years. An emergency meeting of the G7 has been called for today, where firefighting options including the…
As oil firms squeeze commercial, industrial LPG supply, Punjab industry feels the heat
2 min read Ludhiana Make us preferred source on Google The state-run oil marketing companies (OMCs) have announced suspension of Non-Domestic Non-Exempted (NDNE) LPG supply across Punjab in view of escalating tensions in the West Asia. The oreds…
A top energy expert details why he thinks global energy markets can withstand surging oil prices
The US-Iran war has caused a significant disruption in the global oil market, sending prices to $100 per barrel, but one top energy expert thinks the world economy is more resilient to shocks than in the past. S&P Global vice chair Daniel Yergin…
The Day Oil Markets Went Wild
But a frenzied 31% run-up in U.S. oil prices after futures markets opened Sunday evaporated and then some Monday in one of the most stunning reversals of the modern trading era. First there was $100-a-barrel oil. Then $110 came and went. Close to…
Oil prices surge past $100 a barrel; Stock market tumbles
The U.S. and Israel's war with Iran has begun to take a major toll on the global economy. Oil prices skyrocketed overnight to more than $100 per barrel. Plus, the global market tumbled this morning. The stock market has seen steady losses since the…
Texas oil and gas industry leaders weigh in on impacts of Iran conflict
(The Center Square) – After oil futures hit $119 a barrel Sunday night before dropping to $100 on Monday morning in response to a likely prolonged conflict with Iran, the stock market sank. As gas prices and other associated costs keep…
The 24 Hours When Oil Markets Went Wild
First there was $100-a-barrel oil. Then $110 came and went. Close to midnight Sunday, $120 crude was within reach. But a frenzied 31% run-up in U.S. oil prices after futures markets opened Sunday evaporated and then some Monday in one of the most…
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