Oil Industry News
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Canada's Oil Sands Get a Boost From Mark Carney
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, commodities editor and Calgary bureau chief Iain Boekhoff looks at the growing alignment between Ottawa and Canada's oil industry.
India warns U.S. new tariffs to deter buyers of Russian oil could impact ties
India said Thursday that it remained firmly committed to ensuring energy security for its people and will continue to source supplies from diverse sellers based on market dynamics, hours after the U.S. made a new move to punish such buyers. New…
US prepares 100% tariffs for countries importing Russian oil
The US house of representatives on Wednesday passed a major sanctions and tariff bill to intensify economic pressure on Russia over its invasion of Ukraine, allowing the Donald Trump administration to impose strict tariffs of up to 100 per cent on…
Harold Hamm's oil company announces Venezuela deal
Trump donor Harold Hamm's oil company Continental Resources announced a deal Wednesday to drill in Venezuela. © Ariana Cubillos, Associated Press Trump donor Harold Hamm's oil company Continental Resources announced a deal Wednesday to drill…
Here's What the World Is Doing (and Not Doing) to Stave Off the Next Oil Shock
“In two years, the Strait of Hormuz will be a worthless piece of water,” Treasury Secretary Scott Bessent said on Sept. 1. By then, he predicted, oil would be rerouted through new pipelines and Iran would be defanged. That theory…
Houthi attacks are driving up oil prices. For Yemenis in the crossfire, the toll is far greater
As Houthi rebels closed in, Eshraq Abdel Gelil and her husband fled their home, walking through the mountains before catching a ride to a nearby city. Four months pregnant, she feared another miscarriage. They are among more than 125,000 people who…
India faces 100% tariff threat over Russian oil after US House vote
For four years, India, one of the world's biggest oil importers, has turned Russia's war-driven disruption of global oil markets to its advantage. Russian crude, displaced from western markets after the invasion of Ukraine, has flowed instead to…
US stocks rise after oil prices fall and pressure from bond market eases
NEW YORK — U.S. stocks are rising Thursday and recovering most of their losses for the week. Falling oil prices and easing pressure from the bond market helped Wall Street reverse many of its moves from the prior day, when the Federal…
Stocks and bonds rally after Fed hikes rates and oil prices fall
U.S. stock indexes rose sharply Thursday morning, after the Federal Reserve hiked interest rates in a bid to rein in rising inflation. In early trading, the S&P 500 soared 1.2% while the Nasdaq Composite surged 1.6%. The Dow Jones Industrial…
How an oil pipeline attack 7,500 miles away surges your pump prices
A suspected Iran-aligned Iraqi militia attack against Saudi Arabia 's East-West pipeline has cut into a crucial oil artery serving as a bypass for disrupted Strait of Hormuz traffic in yet another challenge to the global energy order. That's not…
Oil prices ease as flows from Strait of Hormuz remain limited - TT
Cows graze near the Marathon Anacortes Refinery in Anacortes, Wash. (M. Scott Brauer/Bloomberg) Oil prices are dropping as there are still limited oil flows in the Strait of Hormuz. Saudi Arabia's closure of a key oil pipeline also adds to oil…
Oil market is a hot mess,' says analyst as supply shock keeps prices near $100: Chart of the Day
Oil prices remain close to $100 per barrel (BZ=F), with no indication of a resolution in the Middle East. That has raised speculation that the Trump administration may be tempted to impose an export fuel ban ahead of the mid-term elections to force…
Ryanair (RYAAY) Slashes its Winter Flight Plans to Dodge a Costly Oil Spike
On September 2, 2026, Bloomberg and Reuters reported that Ryanair Holdings plc (NASDAQ: RYAAY) cut its full-year traffic target from 216 million to 214 million passengers. The firm said it wants to shrink its exposure to unhedged jet fuel during…
Thursday briefing: Yemen's war continues to threaten oil supplies- but what about its people?
Good morning. The lightning advance of Houthi militants along the west coast of Yemen over the past week has prompted fears of a spiralling conflict in the region and a new oil supply crisis. For families living in the Middle East's poorest…
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