Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy secretary warns oil industry as diesel debate rages - TT
Energy Secretary Chris Wright attends the G20 Ministerial Meeting on Energy Abundance in Houston on Sept. 15. (Mark Felix/Bloomberg) Energy Secretary Chris Wright told oil executives to prepare for possible U.S. diesel export curbs as the Trump…
Energy Shares Rise as Oil Rally Continues -- Energy Roundup
Stocks in the energy sector rose as Brent crude surpassed $106 a barrel amid dimming hopes of a reopening of the Strait of Hormuz. U.S. natural gas futures rose sharply as TC Energy declared force majeure on a pipeline in West Virginia after…
Railroad commissioner: Oil industry must strengthen defenses against cyber attacks
(The Center Square) – Texas Railroad Commissioner Wayne Christian is urging the Texas oil and natural gas industry to strengthen its defenses against cyberattacks. “Texas is the energy capital of the world, and that makes our energy…
Oil Prices Decline on Hopes of a Hormuz Deal
Good morning. Oil prices fall on hopes of a deal to reopen the Strait of Hormuz. Wall Street and tech titans join Donald Trump's state dinner for Xi Jinping. And our Deep Dive looks at how some investors are giving blood to get access to higher…
Oil Prices Fall as Markets Look to Iran Truce, but Remain Wary of Attacks on Oil Facilities
Oil prices fell slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes. Brent was down 74 cents, or 0.69%, to…
Oil firms accused of pushing for tax breaks after 'cashing in' on Middle East crisis
Campaigners have accused energy firms of “pushing for tax breaks” after “cashing in” on the crisis in the Middle East. They added that scrapping the current windfall tax on oil and gas companies could cost the UK up to…
Why The U.S. Is 'Front And Center' Of Global Oil Trade
From nowhere-to-be-seen to just about everywhere, the U.S. is now a leading player in global crude markets, achieved by supplying a commodity coveted by buyers all over the world, says Euan Craik, the global head of oil at Argus Media Ltd. It's all…
Stocks struggle amid oil, bond price volatility
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. Stocks in London ended lower on Thursday as investors…
Oil Pulls Back as Cautious Hopes Compete With Escalation
0043 GMT — Oil prices fall back in Asian trade as traders weigh the latest headlines around efforts to reopen the Strait of Hormuz, the critical energy shipping lane blocked by fighting in the Middle East. Oil is following the now-familiar…
Firms Must Pass On Edible Oil Duty Cuts To Consumers: Govt
The ministry of food processing industries on Thursday directed all edible oil companies to pass on the entire benefit of lower import duties on cooking oils to consumers. The directive came hours after the government reduced duties on edible oil…
Nymex Overview: Oil Futures Extend Gains on US-Iran Tensions -- OPIS
Refined product futures were also moving higher. October ULSD rose 25.25cts to $5.0289/gal, with November up 16.45cts at $4.7981/gal. October RBOB climbed 6.26cts to $3.6496/gal, with November up 7.2cts at $3.4124/gal. Oil futures had initially…
Asian Bonds, Stocks to Fall as Oil Fans Inflation: Markets Wrap
A global bond selloff was set to deepen in Asia as elevated oil prices stoked inflation concerns, pushing long-term Treasury yields to multi-decade highs and fueling expectations for further Federal Reserve interest-rate hikes. Australian and New…
High diesel prices strain GOP alliance with Big Oil
The average cost of diesel stands at $6.52 a gallon as of Wednesday, according to AAA – an increase of more than 80% from a year ago in the hardest-hit states, many of them competitive in the November midterm elections. The response from the…
Saudi Arabia intercepts wave of Houthi missiles as oil climbs to one-week high
Saudi Arabia says it intercepted six ballistic missiles fired by Yemen's Iran-backed Houthis, with the latest attacks pushing oil prices to a one-week high over fears of spiralling supply disruptions. The Saudi-led coalition in…
Asian shares are mixed after global bond sell-off and drop in oil prices
Asian shares were mixed Friday following another bond sell-off that brought U.S. Treasury yields to their highest in years. Japan's Nikkei 225 gained 1.2% to 66,318.14. Hong Kong's Hang Seng slipped 1.7% to 24,333.20. Australia's S&P/ASX 200 fell…
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