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 Trump administration may be using the Iran war as an excuse to revive California's oil industry
Using the Iran crisis as justification, the Trump administration has approved the reopening of a controversial pipeline off the coast of California. Now, the Golden State is suing to shut it back down and continue towards its switch to renewable…
Canada Plugs Nation as 'Reliable' Energy Partner as Oil Soars
Canada's top trade official plugged his nation as a stable and reliable energy supplier amid the latest jump in oil prices as President Donald Trump said military operations against Iran could escalate, potentially prolonging disruptions to oil…
Polymarket and other prediction platforms driving oil market, traders say
Energy traders say online betting platforms are directly driving the global oil market as they increasingly rely on anonymous prediction markets to determine multimillion-dollar trades. Market experts have said that datafeeds from prediction…
Now even SNP backs more North Sea oil and gas with Miliband isolated
Ed Miliband is looking increasingly isolated over North Sea oil and gas curbs today after the SNP shifted stance in light of the Middle East crisis. The Net Zero Secretary insisted yesterday that breaking the UK's reliance on fossil fuels is the…
Oil price jumps and markets slide after Trump warning to Iran
Oil prices soared and stocks sank after Donald Trump vowed in a televised speech to hit Iran “extremely hard” over the coming weeks, knocking investors hopes of a near-term end to the conflict in the Middle East. Brent crude prices…
Drones Target Rosneft Oil Refineries in Russia's Bashkortostan
Drones targeted oil refineries in Russia's Bashkortostan republic on Thursday morning, causing fire in an industrial area of the regional capital Ufa, according to authorities. “Several drones were shot down while approaching oil refineries…
Oil spikes as Trump's Iran war speech sends markets into turmoil
Oil prices spiked and global markets plunged after Donald Trump 's prime-time address to the nation Wednesday failed to outline a clear path to ending the Iran war. Trump's speech provided no certainty as he claimed the war was a resounding success…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slid 4.18% to C$63.80 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 0.58% to 32,957.95. Tourmaline Oil…
Imperial Oil Ltd. stock falls Wednesday, underperforms market
Shares of Imperial Oil Ltd. IMO shed 1.47% to C$179.54 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 0.58% to 32,957.95. Imperial Oil Ltd.
Oil jumps and shares fall after Trump Iran address
Oil prices rose and shares fell after US President Donald Trump delivered a primetime televised speech about the Iran war on Wednesday. During the address from the White House, Trump said his core 'objectives are nearing completion'. He also called…
Oil Extends Drop as Trump Seeks End to Energy-Roiling Iran War
Oil pushed lower as traders focused on signs President Donald Trump is seeking to end the Iran war that's roiled markets, while the crucial Strait of Hormuz chokepoint remains largely closed to shipping. West Texas Intermediate fell as much as 1.8%…
Futures Tumble, Oil Jumps; Trump To Hit Iran 'Hard
Dow Jones futures tumbled early Thursday, along with S&P 500 futures and Nasdaq futures, after President Donald Trump's Iran war speech. Crude oil prices soared. Tesla (TSLA) deliveries for the first quarter are due before the open. The stock…
Trump's ex-China mineral-alliance plan faces cost surge amid Iran war oil shock
An oil-supply shock caused by the US-Israel conflict with Iran is complicating US President Donald Trump's already fragile mineral-alliance strategy, analysts said, given the acute vulnerability of energy-intensive rare earth refining and critical…
FTSE 100 Live: Oil price surges and stocks fall on Trump address
Wall Street futures point to a 1.2% fall by the S&P 500 index after President Trump's address left traders fearing an escalation of the Middle East conflict. Brent crude touched $108 a barrel after a rise of 6.8%, while Japan's Nikkei 225% lost…
Iraq's oil hub slows to a crawl as Strait of Hormuz shutdown strangles exports
Iraqi oil fields once alive with the buzz of workers are nearly deserted. Ports that pulsed with the churn of cargo have fallen still, the din of commerce replaced by the soft rhythm of waves. A month after the war in Iran started, workers at ports…
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