Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
IEA Says Energy Crisis Dwarfs 1970s Oil Shocks
The escalating conflict in the Middle East is delivering a sharper blow to global oil markets than the combined impact of the twin oil shocks of the 1970s, International Energy Agency Executive Director Fatih Birol said. “At that time in…
Markets tumble and oil prices rise as global focus remains on Strait of Hormuz
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Financial markets fell sharply and oil prices extended…
Donald Trump's oil crisis will come for you too
As the war in Iran trudges into a fourth messy week, several facts dominate. The first, and most immediately obvious, is that things don't appear to be getting any better for its instigators. Strikes and counter-strikes targeting energy…
FTSE 100 Live: Markets deep in red, oil price higher as gold slides
Wall Street futures are pointing to a fall of about 1% after the US and Iran exchanged fresh threats over energy infrastructure and the Strait of Hormuz. The S&P 500 fell 1.5% on Friday, leaving the benchmark down by 5% so far this year. US 10-year…
Soaring oil prices to 'trigger profit bonanza and £427m a month tax windfall
The Middle East war is delivering booming profits at energy producers and more than £400million in windfall taxes for the government, it is claimed. The conflict has sent wholesale oil and gas prices soaring, triggering pain at the pump for…
3 commodity-market disruptions beyond oil that could soon hit your wallet
Up to this point in the Iran war, oil has hogged all the market headlines. How could it not? It spiked almost 40% in just over a week. Then it continued higher above $100 per barrel … then broke $110. On two occasions, it briefly tested…
US Stock Futures, Oil Drop in Volatile Opening: Markets Wrap
(Bloomberg) -- Financial markets got off to a volatile start on Monday, with US equity-index futures and crude oil getting whipsawed as the war in Iran entered a fourth week with no sign of de-escalation. Crude oil swung sharply, jumping 1.9%…
I wasn't given all of my oil order as it's being 'rationed
A woman who pre-ordered 500 litres of heating oil to beat rising prices received just 150 litres - and was told she'd have to reorder the rest at a whopping 45 per cent markup. Beverley Kenning, 54, thought she was being savvy by securing extra oil…
Markets brace for rate hikes as Iran war and US$100 oil stoke tightening fears
Expectations of monetary tightening by global central banks have intensified, triggering a fresh wave of sell-offs in risk assets as the US-Israel war with Iran enters its fourth week with no signs of de-escalation. Rates traders are now projecting…
War exposes the truth about the oil beneath our feet in Australia
READ MORE: Aussie doomsday prepper says buy these items now Australia's fuel security weaknesses have been laid bare by the Middle East war, with experts warning that decades of refinery closures have left the nation dangerously dependent on…
Iran war energy crisis equal to 70s twin oil shocks and fallout from Ukraine war, says IEA chief
The global energy crisis caused by the war in Iran is equivalent to the combined force of the twin oil shocks of the 1970s and the fallout of Russia's invasion of Ukraine, the head of the International Energy Agency has warned. Fatih Birol, the…
LIVE: Oil prices rise as Iran rejects Trump's Strait of Hormuz threat
Oil prices rose today after Iran dismissed Donald Trump 's 48-hour ultimatum to fully reopen the Strait of Hormuz or face having Iranian power plants blown up. As markets opened, the price of West Texas Intermediate (WTI), the US benchmark crude…
Markets tumble and oil prices rise as global focus remains on Strait of Hormuz
Financial markets fell sharply and oil prices extended gains further as the Middle East war entered its fourth week with global focus remaining on the need to break Iran's stranglehold on the key shipping route for energy supplies. Brent crude…
Iranian Missile Strikes Are Costing Big Oil Billions in Lost Revenue
When Iranian missiles struck the Pearl gas-to-liquids facility in Qatar, they knocked out one of Shell's crown jewels, a giant plant that is among the most sophisticated and profitable businesses in the company's sprawling global operations. The…
Iran responds to Trump power plant threat with oil warning
Iran's parliament speaker warned that any attack on his country's power plants or infrastructure would trigger retaliatory strikes by Tehran on energy and oil facilities across the Middle East. The comments by Mohammad Bagher Ghalibaf were in…
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