Oil Industry News

Daily on Energy: Oil surges above $100

The U.S. and Iran are facing another military escalation at sea. The U.S. Central Command said Tuesday night that it destroyed five Iranian oil tankers in response to recent attempts to hit a U.S. Navy warship. The U.S. hit four Iranian crude ships…

Landman Adds Michael Kelly As Oil Industry Bigwig In Season 3

In addition to playing 'House of Cards' chief of staff Doug Stamper, a part that earned him four Emmy nominations, Michael Kelly's other TV work includes roles on 'Lioness,' 'The Penguin,' 'Jack Ryan,' 'Taboo,' 'Black Mirror,' 'Person of Interest,'…

Oil Merger Spotlights Alberta's Energy Boom

This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, Calgary-based reporter Robert Tuttle looks at the latest Canadian oil acquisition as the industry bulks up to meet burgeoning Asian…

Oil Sands Now Has Policies Needed to Boost Output, Canada Says

Canadian oil sands producers now have what's needed policy-wise from the federal government to raise production enough to fill major new oil pipeline capacity, the country's energy minister says. The government on Wednesday revealed plans to remove…

Buy now or wait and hope? Families face gamble on heating oil

As the summer draws to a close, families who rely on fuel oil to heat their homes are facing a dilemma. The price has almost doubled over the past year, following the outbreak of conflict between the US and Iran. It has left people wondering…

Buy now or wait and hope? Families face gamble on heating oil

Jake Zuckerman BBC East Yorkshire & Lincolnshire As the summer draws to a close, families who rely on fuel oil to heat their homes are facing a dilemma. The price has almost doubled over the past year, following the outbreak of conflict between the…

Markets Settle After Oil-Driven Bond and Stock Drops

Oil extends gains, with Brent above $101 after U.S. destroys Iranian oil tankers

Escalation in the U.S.-Iran conflict, now in its seventh month, is raising the risk of oil prices surging above $120 a barrel as attacks on shipping intensify, Goldman Sachs said. U.S. President Donald Trump's top White House advisers have raised…

Oil Prices Mixed as Traders Look to Middle East -- Update

American forces destroyed 10 Iranian tankers over the past week, the U.S. Central Command said on social media platform X. These vessels were part of a multibillion-dollar shadow network that finances the Islamic Revolutionary Guard Corps, the…

Shares dive as oil surges past 100 dollars

News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Stock prices in London closed sharply lower on Wednesday…

Oil rises past $100 a barrel after latest Middle East attacks

Oil prices climbed above $100 a barrel Wednesday for the first time since July as renewed fighting in the Middle East raised concerns about further disruptions to global energy supplies. Brent crude, the global benchmark, jumped nearly 3 percent to…

Oil rises past $100 a barrel after the latest wave of Middle East attacks

Diesel prices, which can have an outsized impact on consumers because it is used in shipping and production, hit an all-time high Friday and has continued to climb since. The average price for a gallon reached $5.94 overnight and is now 9 cents…

Asian Stocks to Fall as Oil Stokes Inflation Fears: Markets Wrap

Asian stocks fell, tracking losses on Wall Street, as surging oil prices stoked inflation concerns and as Treasury yields rose. Oil extended gains over $101 per barrel. The MSCI Asia Pacific Index slipped 0.3%, with benchmark gauges in Japan and…

S&P 500 ends down as oil tops $100 per barrel

U.S. stocks closed lower on Wednesday as oil prices soared above US$100 a barrel, while Apple dipped and Treasury yields rose ahead of crucial inflation data expected later in the week. SCROLL TO CONTINUE WITH CONTENT Worries about the global oil…

Oil Climbs as China Crude Purchases Rise

Brent oil topped $101 a barrel for the first time since July amid escalating attacks across the Middle East tied to the ongoing US-Israel war with Iran. The global crude benchmark settled more than 3% higher in New York, while West Texas…