Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Mamdani's New York snake oil
That is exactly what I see happening in Zohran Mamdani's New York today. We have a very slick snake oil salesman making a case for painlessly fixing all of today's problems. And you won't have to pay a dime. Really? If you believe there is a…
Goldman Flags Risk of $120 Oil If Mideast Ship Attacks Intensify
Oil may rally to as much as $120 a barrel if attacks on shipping in the Middle East increase, according to Goldman Sachs Group Inc., which recommended bets on natural gas and diesel as a way to capture gains. “Events over the last few days…
Oil Higher on Hormuz Escalation Amid Quiet Markets Due to Labor Day
Oil prices continued to rise in early European morning trade after Iranian forces fired ballistic missiles on two U.S. Navy warships, representing a fresh escalation in the six-month conflict. Brent crude oil traded close to $97 a barrel as both…
Oil Edges Higher on Renewed Middle East Tensions: Markets Wrap
Asian stocks rose after US technology shares advanced on Friday. Oil climbed after the US and Iran traded tanker attacks in the Strait of Hormuz. Benchmark indexes in Japan and South Korea both gained, while those for Australia were little changed.
ASX LIVE: Australian shares set for a cautious start as oil pushes above $US96; energy stocksk in focus, $A at US72¢.
Go to latest Fresh military strikes between the US and Iran over the weekend threaten to push up energy prices and drag down the Australian sharemarket as investors brace for higher interest rates. At the close of Friday's trading, ASX 200 futures…
Oil prices extend gains as U.S.-Iran strikes heighten supply disruption concerns
Oil prices extended gains on Monday as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the Middle East. SCROLL TO CONTINUE WITH…
Oil extends gains after US and Iran strike ships
SINGAPORE, Sept 7 (Reuters) - Oil prices extended gains on Monday as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the…
U.S. June Oil Production Rose (Commodity:CL1:COM)
U.S. June oil production increased by 37 kb/d to 13,792 kb/d. The largest increase came from the GOM, 88 kb/d, while the largest decrease came from Texas, 75 kb/d. Texas' June oil production decreased by 75 kb/d to 5,728 kb/d, according to the EIA.
Palm Oil Climbs as Indonesian Forest Fires Puts Supply at Risk
Palm oil rose as traders weighed the risk of supply disruptions from forest fires raging across Indonesia, the world's biggest producer. Benchmark futures climbed as much as 0.9% to 4,975 ringgit ($1,229) per ton in Kuala Lumpur as acrid haze from…
Oil Majors Seek Bigger Bargaining Power in Labor Disputes
The biggest oil companies in the United States are playing hardball in unionized labor negotiations in a bid to get more concessions from workers' unions in the new contracts. Over the past few years, some of the top U.S. refining companies have…
Oil Rises Amid Escalation in U.S.-Iran Conflict
2334 GMT — Oil rises in early Asian trade amid an escalation in the U.S.- Iran conflict that could increase supply disruptions in the Middle East. The U.S. military said it struck three Iranian oil tankers on Saturday after Iran launched…
Donald Trump's deal for Venezuelan oil could be good news for Louisiana - eventually
WASHINGTON – President Donald Trump name-checked Louisiana as one of the places that will benefit from his new deal to open Venezuelan oil fields to U.S. control in hopes of lowering prices at the pump. That's because Louisiana refineries…
War-Tested Oil Traders Descend on Singapore as Fresh Risks Loom
Global oil markets are showing fresh signs of strain after months of war, as conflict-weary traders, anxious buyers, and under-pressure executives huddle in Singapore for the region's main industry gathering. More than six months after the US-Iran…
JGBs Edge Lower Amid Rising Oil Prices
0016 GMT — JGBs edge lower in price terms amid rising oil prices that typically lead to higher inflation in Japan, which could spur a quicker pace of BOJ rate increases. “The key question is whether markets bring forward the BoJ…
'Risk of a correction is high' after oil surge, bonds meltdown
Economists and strategists warn that equity markets are teetering on the edge of a correction as the price of oil pushes back up to $US100 a barrel and bond yields trade near the highest levels since the global financial crisis amid renewed…
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