Oil Industry News

Chinese, Indian oil sectors eye deeper energy cooperation in oil, new energy and green development

China National Petroleum Corporation Chairman Dai Houliang (right) meets with India's Minister of Petroleum and Natural Gas Hardeep Singh Puri in New Delhi, India, on September 11, 2026. Photo: Courtesy of CNPC China National Petroleum Corporation…

Saudi Arabia could run out of oil for export within days as pipeline shut

Saudi Arabia will soon run out of oil to export if it does not restart quickly its major pipeline that was closed following drone attacks, it has been reported. The kingdom announced on Friday it had shut its East-West oil pipeline as a precaution…

Donald Trump chillingly claims US could keep Iranian oil 'like Venezuela

Donald Trump has threatened that the US could continue the war with Iran and keep its oil 'like Venezuela'. The US President spent his weekend in Ireland for golf but did not pass on talking about politics and his role in the Middle East war.

China's oil demand could falter as Saudi pipeline shutdown raises costs

As the shutdown of Saudi Arabia's major oil pipeline tightens global crude supply, shipments to China remain relatively insulated in the near term, though rising prices and freight costs are set to dampen demand, according to analysts. Drone…

Oil's 40% surge puts fuel costs in focus for airline, cruise industry (CCL:NYSE)

The cruise and airline sectors—both heavily impacted by the price of fuel—continue to move inversely to oil futures, trending lower on Monday in tandem with oil futures challenging $110 per barrel. Within the cruise industry, Carnival…

The Oil Market Needs a Quick Saudi Pipeline Restart

This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley looks at the oil market repercussions from Saudi Arabia's closure of a key pipeline. Last week's hit to Saudi…

Enbridge (ENB) Expands its U.S. Oil Footprint with Tallgrass Acquisition

Enbridge Inc. (NYSE: ENB) has agreed to buy Blackstone-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its presence in the U.S. liquids pipeline market. The deal includes a 75% stake in the 1,050-mile Pony Express…

Costco starts rationing motor oil. Could Walmart be next?

Costco has reportedly started rationing its house brand of motor oil this week, limiting purchases to two boxes per week, as drivers across the country continue facing higher gas and diesel prices. The membership-only warehouse club, which has long…

FTSE 100 Futures Rise as Oil Marches Higher

Oil Tankers Earn $1 Million a Day as War Leaves Ship Shortage

The cost of hiring an oil tanker on the industry's benchmark trade route topped $1 million a day for the first time, as the Iran war leaves too few ships willing to cross the Strait of Hormuz to collect cargoes. Vessels hauling oil from inside the…

Oil hits $107 after Middle East attacks - what fallout could mean for you

Oil has jumped to more than $107 a barrel, threatening to bring fresh financial pain for millions of UK households. Brent crude rose more than 3% to $107.41 per barrel amid a new escalation in the Middle East war between the US and Iran. The latest…

Oil prices increase as Houthis intensify campaign - TT

Trucks fuel up with diesel in Fairview, Tenn. (George Walker IV/AP) Oil and gasoline prices continue to climb as the Houthis, an Iranian proxy, intensify a military campaign at a key energy transit point in Middle East. Diesel, a fuel with an…

AI safety fears, rising oil prices, a big season for prediction markets and more in Morning Squawk

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Monday. While I was keeping busy as a groomsman in a wedding in Michigan, artificial intelligence executives were busy making big business and…

10-year treasury yield rises as oil prices jump

What happened: The 10-year Treasury yield (^TNX) climbed to 4.97% on Monday, just 3 basis points away from the 5% threshold. Meanwhile, the 30-year Treasury (^TYX) yield hovered at 5.35%. What's behind the move: Bond yields stayed elevated as Brent…

Russia sees Indian exports moving beyond oil imbalance into pharma, industry and AI

The range and volume of goods exported from India to Russia is expanding rapidly, with industrial products, pharmaceuticals, and IT solutions emerging as new areas of cooperation, according to Russian Economic Development Minister Maxim…