Oil Industry News
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Venezuela's oil cradle pins hopes on US energy deals
More than a century after sparking an oil boom that transformed Venezuela, the small town of Mene Grande is again in the sights of investors. The United States has claimed a 20 percent stake in Venezuela's vast oil reserves -- including many local…
The options market is sending a contrarian signal about oil prices
Sometimes the best course of action to take on Wall Street is the opposite of what everybody else is doing. With that in mind, we note that the options market is flashing a new sell signal, via what's known as the put-call ratio, for the United…
FTSE 100 edges up as oil fall offsets bond worry
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 made modest progress on Friday as lower…
Italy to Convene Oil Refiners as it Seeks to Boost Fuels Output
The Italian government will meet its oil refining industry next month to discuss a boost in production as concern grows that surging prices for diesel and other fuels could stoke inflation. The meeting scheduled for Oct. 8 is the latest sign that…
A reprieve from rising oil prices helps US stocks finish the week higher
NEW YORK (AP) — A cooldown in oil prices on Friday helped release some of the pressure that's built up on Wall Street, and U.S. stocks closed out their first winning week in the last three. The S&P 500 added 0.5% to break a three-day losing…
US Stock Futures Rise as Investors See Relief in Yields, Oil
US stocks climbed as oil and Treasury yields pulled back from the recent surges ahead of data on inflation expectations. The S&P 500 Index opened 0.3% higher on Friday, led by gains in the tech and industrials sectors. Akamai Technologies Inc. was…
FTSE 100 edges up as oil fall offsets bond worry
Stocks in London made modest progress on Friday as lower oil prices amid hopes of progress in US- Iran negotiations helped offset concerns over another rise in bond yields. In London, the FTSE 100 index ended up 15.26 points, 0.1%, at 10,695.25.
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Canadian oil bypasses California stop as freight surges - TT
The Burnaby Refinery in Burnaby, British Columbia. (James MacDonald/Bloomberg) Canadian crude shipments are bypassing a pit stop off the California coast and heading straight to Asia as skyrocketing shipping rates make the detour less economical…
Oil prices decline as investors look for signals on Hormuz - TT
A pump jack near Imperial, Texas. (Mark Felix/Bloomberg) Oil prices declined Sept. 25 as investors look for signs of the reopening of the Strait of Hormuz, the key waterway for global oil transport. The Dow is off 0.6% for the week to date, which…
Import duty cut on edible oils ahead of festivals | Explained
The Story So Far: Ahead of the upcoming festival season, where the demand for edible oil is likely to increase, the Union Government announced on September 24 through a press release issued by the Consumer Affairs Department that the Basic Customs…
Futures Rise As Oil, Yields Drop On Iran Diplomacy Hopes
US futures erased earlier losses and are trading at session highs led by tech, as bonds steadied (with the 10Y at multi-decade highs of 5.17%) after oil's latest rally lost steam, helping US stocks to extend gains for the week. As of 8:00am ET, S&P…
Texas officials call for oil and gas producers to beef up defense
Reported cyberattacks on two Texas-bound energy tankers last month prompted one of the state's top energy officials to urge oil and gas producers, pipeline operators, and other energy companies to boost their own cybersecurity defenses. Texas…
S. Korea, Mexico to Launch Oil, Supply Chain Dialogue
President Lee Jae Myung has announced that South Korea and Mexico have agreed to launch an intergovernmental dialogue channel on oil and other critical resources as part of efforts to strengthen supply chain cooperation. Speaking at a joint press…
Canada's Oil Patch On Track For Biggest M&A Wave In A Decade
Nearly a decade ago, the Canadian Oil Patch recorded a major asset sale and consolidation wave as oil majors exited the oil sands in favor of higher margins in U.S. shale oil as well as environmental concerns amid the ESG investing craze. To wit…
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