Oil Industry News
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Oil prices rally on Hormuz talks but will Asia's energy woes ease?
Oil prices have eased sharply on hopes that the US and Iran will agree to reopen the Strait of Hormuz, but analysts say Asian economies are unlikely to quickly shake off the effects of the energy shock even if the key waterway returns to normal.
How The Iran War Oil Shock Is Helping Launch A Market For Electric Tugboats
Arc Marine's electric tugboats are heading for the Port of Long Beach, California. The next hot electric vehicle may not come with gullwing doors, a self-driving mode or the ability to provide backup power to your home. It may be an 80-foot…
The biggest story in oil isn't just supply anymore
The oil markets spent months worrying about supply disruptions in the Middle East. Instead, Brent crude oil futures have fallen about 20% from their late-March peak, even though flows through the Strait of Hormuz remain low. The move reflects more…
Oil Companies Scramble for Ships to Secure Transport, Owner Says
Oil companies are rushing to secure giant tankers to ensure they can transport barrels after the industry was upended by war and the largest vessel-buying spree in a generation, the head of a shipowner said. DHT Holdings Inc. 's customers are…
Hassett predicts oil will flow through Strait of Hormuz in 'a month or two'
National Economic Council Director Kevin Hassett on Sunday predicted that oil shipments will pass through the Strait of Hormuz in “a month or two,” while it has been closed off amid the U.S.-Israeli conflict in Iran. Hassett told…
Oil markets trading 'tweet-by-tweet' but supply cliff looms
In some corners of the oil market, traders are betting that a peace deal between the US and Iran is imminent which has sent future contracts that expire in June plunging by almost 20 per cent last month. But for those looking out to the end of the…
EU Seeks to Keep an Oil Windfall Out of Russia's Hands
Welcome to the Brussels Edition. I'm Suzanne Lynch, Bloomberg's Brussels bureau chief, bringing you the latest from the EU each weekday. Make sure you're signed up. As the Kremlin's war in Ukraine continues, the EU is stepping up plans to intensify…
Oil Rises as War Deal Remains Illusive
Good morning. Oil climbs as a US-Iran peace deal remains elusive. Nvidia is entering the PC market, taking on Intel. And SoftBank plans to invest up to €75 billion in French AI data centers. Listen to the day's top stories.
Stock Market Today: Nasdaq Futures Advance, Oil Climbs- Live Updates
Oil prices are strengthening this morning, after a fresh round of hostilities in the Middle East that came as the U.S. and Iran continue to negotiate a deal to wind down the fighting. Brent crude futures are up about 3% at nearly $94 a barrel…
Goldman Sachs flags demand weakness as key risk to oil price outlook
Goldman Sachs said late Sunday that weak oil demand in China and Europe poses a major downside risk to its fourth-quarter Brent crude forecast of US$90 a barrel and WTI forecast of US$83, although Middle East supply disruptions could still push…
Oil Prices Head Higher on Growing U.S.-Iran Tensions - TT
A customer pumps gas at a Chevron station on May 27 in North Miami, Fla. (Marta Lavandier/AP) Tensions between the U.S. and Iran grew again while investors await a decision on extending the Iran war ceasefire. Stock markets in Japan and South Korea…
Mizuho Raises Devon Energy (DVN) Price Target as Higher Oil Prices Support Outlook
Devon Energy Corporation (NYSE: DVN) is included among the 10 Best Long-Term Dividend Stocks to Invest In According to Billionaires. Mizuho analyst Nitin Kumar raised the firm's price recommendation on Devon Energy Corporation (NYSE:DVN) to $68…
Stocks shake off Iran jitters as AI rules supreme; oil climbs
By Wayne Cole and Amanda Cooper SYDNEY/LONDON, June 1 (Reuters) - Global stocks traded at record highs on Monday as the AI boom continued to drive demand, offsetting news of fresh attacks in the Gulf that challenged optimism about a reopening of…
Oil prices jump as US and Iran exchange fresh strikes
Oil prices jumped more than 2 per cent on Monday as negotiations between the United States and Iran continued over a potential ceasefire extension and the reopening of the Strait of Hormuz, while stock markets in Japan and South Korea hit record…
Futures Rise Despite Oil Bounce, As Nvidia Keeps AI Euphoria Going
Futures are positive and at session highs even as the a lack of a US / Iran deal pushes oil prices, bond yields, and volatility higher. As of 8:00am ET, S&P futures are up 0.3% to a new all time high of 7620; Nasdaq futures rise 0.2%: the Computex…
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