Oil Industry News
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Stocks jump as US-Iran pause sees oil price fall
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. The FTSE 100 closed higher in London on Monday as…
Houthis say they targeted Saudi east-west oil transport
July 27 (Reuters) - Yemen's Iran-aligned Houthis said on Monday they targeted a number of sensitive crude oil supply and transport sites linking eastern Saudi Arabia to the critical Red Sea oil export hub of Yanbu. Saudi…
Oil price dives as US and Iran pause attacks
The price of oil sank more than 9% on Monday on hopes that a pause in attacks between US and Iran could help lead to a resolution to the conflict. Brent crude, the global benchmark for oil, dipped below $88 a barrel, marking a sharp turnaround from…
Stocks jump as US-Iran pause sees oil price fall
The FTSE 100 closed higher in London on Monday as investors welcomed a temporary pause in hostilities between the US and Iran, which helped drive the oil price sharply lower. The FTSE 100 index closed up 45.52 points, 0.4%, at 10,781.75. The FTSE…
DR Congo: Oil Company Operations Pose Grave Pollution Threat
Pollution linked to the Democratic Republic of Congo's only oil producer poses serious health risks to communities near its operations. Perenco, the oil company, has engaged in gas flaring and waste burning that have contributed to poor air quality…
Oil prices tumble as pause in U.S.-Iran fighting sparks market relief
Oil prices tumbled on Monday and the U.S. stock market surged amid a pause in fighting between the U.S. and Iran, with U.S. Ambassador to the United Nations Mike Waltz saying Sunday on 'Face the Nation with Margaret Brennan' that the break is aimed…
Gov't Reviews Oil Supply with Refiners, Shippers amid Middle East Conflict
The government has confirmed that July and August crude oil arrivals exceed 100 percent of last year's average, while secured September volumes stand above 90 percent. The Ministry of Trade, Industry and Resources held a meeting with the oil…
Oil prices tumble as fighting subsides - TT
Cars line up at a Gulf Oil station on the Massachusetts Turnpike near Boston on July 19. (Gene J. Puskar/AP/file) Oil prices slipped as the U.S. and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim…
North Sea oil billionaire and philanthropist Sir Ian Wood dies aged 84
Billionaire Sir Ian Wood, who made his fortune in the North Sea oil industry with the Wood Group company, has died at the age of 84. Sir Ian was one of Scotland's wealthiest people. He took over the family business in 1967, and turned the Aberdeen…
Kazakhstan's daily oil output halves after export terminal closure, source says
Kazakhstan, among the world's 10 biggest oil producers, has more than halved its daily oil output after the closure of its main exporting terminal in Russia's Black Sea over drone attacks, an industry source said on Monday. SCROLL TO CONTINUE WITH…
Trump shares 'Strike on Kharg' image, reviving Iran oil hub focus
President Donald Trump has shared a series of images on Truth Social centered on Iran 's energy infrastructure and maritime trade, including one bearing the message 'Strike on Kharg'—a reference to Iran's most important oil-export hub and a…
Oil and gas explorer Lakes Blue Energy launches capital raising
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
Potential for first Australian oil refinery in 60 years as treasurer braces for inflation from Middle East war
Australia's first new oil refinery in 60 years could be built in Western Australia under the Albanese government's long-term strategy to shield the country from future global oil shocks. The commonwealth and the WA government will fund a $4m…
Oil prices fall after weekend pause in US, Iran fighting
Oil prices were down nearly 10 percent on Monday after a break in fighting between the U.S. and Iran over the weekend. Futures of global benchmark Brent Crude were trading at less than $91 per barrel, after reaching more than $100 per barrel on…
Oil prices fall back sharply on renewed Iran war ceasefire hopes
Oil prices have retreated below 90 US dollars a barrel as a pause in fighting between the US and Iran boosted hopes of rekindling a peace deal and reopening the vital Strait of Hormuz. The cost of benchmark Brent crude dropped 8% to 87.55 US…
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