Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
I will make final decision on Rosebank oil field, energy secretary insists
Energy Secretary Miatta Fahnbulleh has insisted she will make the final decision over whether to approve the controversial Rosebank oil field, not the prime minister or chancellor. She said there was a 'tight' framework involved in making the…
I will make final decision on Rosebank oil field, energy secretary insists
Alex Forsyth, Political correspondent and Becky Morton, Political reporter Energy Secretary Miatta Fahnbulleh has insisted she will make the final decision over whether to approve the controversial Rosebank oil field, not the prime minister or…
The secret terms of Trump's Venezuelan oil deal
In late August, President Donald Trump announced what he called the “biggest oil deal in world history.” Since then, the full text of the accord — which grants the U.S. sweeping access to Venezuela's oil reserves — has…
Germany Wants to Stop More Oil Refinery Closures as Costs Mount
Germany said it will seek to stem the loss of oil refining capacity, arguing that closures are hurting not only fuel suppliers and consumers but the country's vast chemicals manufacturing sector too. “Whoever loses the refinery loses not…
Oil prices hit highest point since May
Oil prices on Friday hit their highest point since May as the war in Iran drags on. As of Friday morning, futures for international benchmark Brent crude were trading at $116 per barrel, while U.S benchmark West Texas Intermediate traded at about…
Oil hits five-month high amid fears US will renew strikes on Iran
Oil has hit its highest level in more than five months as fears of fresh escalation in the Middle East conflict grip the energy markets. Brent crude, the international benchmark for oil, rose by 1% on Friday morning to $114.72 a barrel – its…
Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran. The S&P 500 fell 1.2% for its worst day since July, while the…
AI Selloff Deepens in Asia; Oil Stays Elevated
The selloff has widened beyond highly leveraged AI companies with questionable funding economics, said Chris Weston, Pepperstone's head of research. 'Investors are reducing exposure across the entire ecosystem, including businesses with stronger…
Futures Slip as Big Tech Falters, Oil Extends Relentless Advance
Futures fell on Friday with mixed trading in technology megacaps, oil climbing and US midterm elections less than two weeks away. Investors were parsing earnings from payments giant American Express Co. for signals about spending and the health of…
AI Selloff Continues in Asia; Oil Stays Elevated -- Update
Semiconductor stocks were mostly lower after the Philadelphia Semiconductor Index plunged 6.7% overnight. Samsung Electronics fell 0.6% and Kioxia Holdings was 0.3% lower. SK Hynix bounced back to be 3.2% higher after losing as much as 4.25% in…
White House report card: Rallies, grievances and rising oil prices
The next day he flew to Park City, Kansas, to rally for Sen. Roger Marshall (R-KS), who is facing a tougher-than-expected reelection campaign. He promised $8 billion in help for the nation's farmers, but his support for Marshall went awry when he…
Palm Oil Fluctuates as Market Faces Dueling Supply Outlooks
Palm oil futures traded near steady in Kuala Lumpur, after fluctuating between gains and losses.
Oil prices hit levels not seen since May - TT
A driver pays at a fuel pump at a GetGo gas station in Columbus, Ohio. (Bloomberg) Oil prices hit levels not seen since May amid halting efforts to bring the U.S. and Iran back to the negotiation table. The national average for a gallon of regular…
Wall Street mostly loses ground under pressure from rising oil prices
NEW YORK — Stocks slipped on Wall Street Friday under increasing pressure from rising oil prices. The S&P 500 fell 0.2 percent, adding to its decline from a day before. The index is on track for a second-straight week of losses. The Dow…
Retail Traders Find a Back Door to 24/7 Oil Trading
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Mia Gindis looks at mounting warnings over 24/7 oil trading among retail investors. In recent months a debate has intensified…
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