Oil Industry News
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Energy Down With Oil Futures on Iran Optimism - Energy Roundup
Shares of energy companies slid alongside oil futures amid signs of progress in U.S.-Iranian diplomacy. U.S.-traded oil futures had initially tumbled by more than 10% to around $90 a barrel after reports that Iran was reviewing a peace proposal…
Bloomberg Surveillance: Market and Oil Outlook
The economy and the markets are 'under surveillance' as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join…
Trump's Iran war may stymie climate gains with boost to big oil, experts say
The billions in profits big oil is reaping due to the Iran war may stymie the energy transition, experts and advocates fear, incentivizing oil and gas expansion and boosting the sector's funds for political lobbying. “Windfall profits from…
Gold And Silver Prices Surge As Oil Falls
Gold and silver prices are approaching their highest levels in months, a surge some analysts have attributed to falling oil prices, a softening dollar and hopes the United States and Iran will strike a deal to end the war. Silver prices surged…
Oil Market Liquidity Dries Up as Traders Sit Out War Volatility
Oil market liquidity has evaporated since the start of the US-Iran war, amplifying price moves in a benchmark seen as a bellwether for the global economy. Total Brent futures open interest, a proxy for money in the market, plunged to the lowest…
Well-oiled diplomacy: Malaysian king visits Moscow as Anwar eyes Russian energy
Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid the Iran war-linked fuel crisis. Sultan Ibrahim landed at Vnukovo-2 International…
Traders point to suspicious activity in the oil market on Wednesday
Trading volume in U.S. crude-oil futures suddenly spiked early Wednesday in the hour before a media report sent prices tumbling — the latest in a pattern of suspicious activity in the market for oil futures that has emerged since the start…
Oil giants accused of raking in more than £26billion worth of 'war profits
Oil giants have raked in the equivalent of £102 in 'war profits' for every UK household in the first three months of this year, research suggests. Analysis by the End Fuel Poverty Coalition found energy firms generated £3billion worth…
'Why waste a crisis?': AirAsia to launch new airline, defying high oil costs
AirAsia X co-founder Tony Fernandes said he is preparing to launch a new airline, betting that expanding while the aviation industry's being roiled by high oil prices will pay off in the future. The new airline will be announced in the next month…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slid 1.62% to C$66.85 Wednesday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.24% to 33,981.82. Tourmaline Oil…
Imperial Oil Ltd. stock falls Wednesday, underperforms market
Shares of Imperial Oil Ltd. IMO dropped 3.69% to C$174.22 Wednesday, in what proved to be an otherwise all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.24% to 33,981.82. Imperial Oil…
Barclays says it's the best buying opportunity in 20 years for these oil stocks
It's the best time in two decades to buy oil service stocks, even as the Iran war is showing signs of coming to an end, according to Barclays. The bank upgraded the U.S. energy service and technology sector to positive from neutral, and raised oil…
Shell profits rise as Iran war pushes oil prices higher
Profits at oil giant Shell have risen in the first three months of the year following the sharp increase in oil prices since the beginning of the Iran war. Shell reported profits of $6.92bn (£5.1bn) for the first quarter, which was higher…
Shell's 'outrageous' profits as oil giant makes billions amid Iran war chaos
Oil giant Shell has been slammed for raking in 'outrageous' profits of nearly £5.1billion in the first three months of this year on the back of the Iran war. The industry heavyweight was among producers to benefit from a surge in wholesale…
Oil Futures Rise on Likely Technical Recovery
0007 GMT — Oil futures rise in early Asian trade on a likely technical recovery after dropping overnight. The “markets were driven by optimism about an agreement [between the U.S. and Iran] being reached in the coming days to end the…
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