Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The Government Wants to Turn Abandoned Oil Rigs Into Rocket Launch Pads
Hundreds of offshore oil rigs have neared the end of their lives, but they remain perched high above the surface of oceans while the wells beneath them have run dry. Now, the government has proposed a plan to repurpose the offshore rigs and use…
Oil prices jump after weekend US and Iran attacks
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. Oil prices have shot up further after US and Iran attacks…
Iran Isn't the Only Conflict Vexing the Oil Market
The end of the Iran war, despite all the ups and downs in the ceasefire talks, has solved one oil problem. The price of crude has fallen to less than $75 a barrel, roughly where it was before the conflict began in February. But the almost…
Oil conundrum: On India's energy imports from Russia
Union Ministry of Commerce and Industry (MCI) data on India's May crude imports show that receipts from Russia had reached the pre-sanction levels of more than 40%, which is also the highest in two years. Though India has defended this as…
The U.S. Is Both The World's Top Oil Producer And Top Consumer
MIDLAND, TEXAS - JULY 7: Pumpjacks operate as a flare burns a few hundred yards from apartments Thursday, July 7, 2022, in Midland. (Jon Shapley/Houston Chronicle via Getty Images) Houston Chronicle via Getty Images The newly released 2026…
Oil Climbs, US Futures Dip on Fresh Iran Strikes: Markets Wrap
Oil jumped and US equity futures fell after the US launched another round of strikes against Iran, while conflicting claims over the status of the Strait of Hormuz heightened uncertainty. S&P 500 contracts dropped 0.2% in early trading Monday after…
Oil jumps 4 percent as new military strikes threaten Hormuz shipments
Oil prices surged over 4 percent on Monday as energy shipments via the Strait of Hormuz remained under threat, with the US and Iran announcing renewed military strikes. SCROLL TO CONTINUE WITH CONTENT Brent crude futures climbed US$3.10, or 4.08…
Watch Oil Market Prices In Hormuz Resilience
Oil Market Prices In Hormuz Resilience Bloomberg Intelligence senior commodities strategist Mike McGlone says oil markets are largely accepting US assurances that the Strait of Hormuz remains open, with expanding Western Hemisphere supply and…
Oil prices leap and stocks fall amid US-Iran strikes over Hormuz
Oil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz. Brent crude, the international benchmark for oil prices, rose 4.7% to $79.59 a barrel on the renewed…
Oil jumps 3 percent after US, Iran escalate strikes in Mideast
Oil prices jumped on Monday as Iran expanded strikes on Gulf states following attacks by the United States, threatening energy shipments via the Strait of Hormuz. SCROLL TO CONTINUE WITH CONTENT Brent crude futures climbed US$2.34, or 3.08 percent…
Oil prices jump after weekend US and Iran attacks
Oil prices have shot up further after US and Iran attacks over the weekend, in a move putting unwelcome pressure on energy and fuel costs. Benchmark Brent crude rose 4% to 79 US dollars a barrel amid confusion over the Strait of Hormuz, with…
Oil prices spike on fresh US-Iran attacks, tech weighs on stocks again
Oil prices jumped more than four percent Monday after another flare-up between the United States and Iran that threatened their already fragile truce, while Seoul led losses in most Asian stock markets as tech firms suffered another selloff. The…
US and Iran Trade Fresh Strikes, Oil Jumps, More
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Oil price jumps over 4% and gold slides as the US and Iran trade attacks -business live
Oxford Nanopore Technologies shares plummeted after the biotech company admitted that revenues would fall short of its own expectations, hit by a triple whammy of weaker sales in China, disruption in the Middle East and the timing of customer…
Bitcoin Weakens as Oil-Price Spike Revives Inflation Concerns
Bitcoin lost ground in Asia on Monday as oil prices spiked after the US launched fresh attacks on Iran, reviving inflation fears. The original cryptocurrency fell as much as 2.4% to $62,600 as of 12:45 p.m. in Singapore. The move took Bitcoin back…
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