Oil Industry News
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Oil prices near US$100 a barrel as Saudi oil facility attack raises supply risk
Heightened geopolitical tensions are pushing global crude benchmarks towards the critical US$100-a-barrel threshold, and investment banks have lifted their end-2026 price forecasts, dampening import appetite in China – the world's largest…
Oil nears $100 after Saudi Arabia says energy infrastructure was attacked
Brent, the international oil benchmark, touched $99 per barrel Tuesday after Saudi Arabia reported an attack on energy assets that caused temporary pauses in operations. U.S. crude oil also rose by more than 2.5% to nearly $94 per barrel. Wholesale…
Oil price approaches $100 a barrel after attacks on Saudi oil facilities - business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The global economy faces the prospect of $100 a barrel oil again, as the conflict in the Middle East continues. Brent crude has risen back…
Opinion: Oil patch M&A boom signals confidence in Canada's gas export superpower strategy
Please log in to bookmark this story. Create Free Account Canadians have always appreciated validation from foreigners. Last week, London-based Shell PLC validated the country's potential as an energy superpower by closing its $22-billion takeover…
Trump: Oil prices 'will drop precipitously' after Iran war win
President Trump on Monday said oil prices “will drop precipitously” after the Iran war is won, as Iran seeks to maintain its control of the Strait of Hormuz with a “ restricted zone.” “Oil prices will drop…
Argentina to file criminal case against oil company operating in Falklands
Vanessa Buschschlüter Latin America online editor The Argentine government has said that it would file criminal charges against oil company Navitas Petroleum for operating in seas off the Falkland Islands. The move came just days after…
Trump's oil price promise was just struck by Houthis defying Hegseth
President Donald Trump tied victory over Iran to rapidly falling oil and gasoline prices Monday night—just as renewed Houthi attacks on Saudi Arabia exposed how military success could still leave the region's energy system under sustained…
Asian shares and US futures are mixed, while oil prices creep higher
Asian shares and U.S. futures were mixed Tuesday after markets on Wall Street were closed for the Labor Day holiday. Tokyo 's Nikkei 225 gave up early gains, falling 0.3% to 66,170.34 after the government reported that the economy grew at a…
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure
Oil prices extended their rally on Tuesday as escalating U.S.-Iran tensions fueled concerns over potential disruptions to Middle East energy supplies and shipping through the Strait of Hormuz. Brent crude futures climbed about 0.1% to $97.20 per…
Uganda to Become World's Newest Oil Exporter With Pearl Sweet
Uganda is set to become the world's newest oil exporter, with commercial shipments of its Pearl Sweet grade to start in December and increase to 230,000 barrels a day within three years. The African nation's energy minister and other senior…
Canada's TMX to Ramp Up Oil Flows to Asia as War Roils Market
Trans Mountain Corp., a pipeline operator owned by the Canadian government, is working at speed to boost the volumes it can ship from the west coast to Asia as the war in the Middle East roils flows. The company is undergoing a major expansion as…
Vitol Warns on Oil-Product Tightness Even as Hormuz Flows Climb
Oil-product markets are flashing signs of tightness while crude's outlook looks “reasonable,” with flows through the Strait of Hormuz picking up, according to Vitol Group Chief Executive Officer Russell Hardy. Daily shipments through…
Oil Nears $100 a Barrel as Fresh Attacks on Saudi Energy Operations Raise Supply Concerns
Oil prices climbed in early European trading Tuesday after attacks on energy-sector facilities in southern Saudi Arabia temporarily halted some operations, adding to concerns that Persian Gulf oil supplies could remain constrained. Front-month…
$100 Oil Hits India's Import Bill
India's current account deficit could widen to 1.7% of GDP, or about $71 billion, if crude oil prices stay above $90 a barrel for a significant part of the second half of FY27. Indian crude basket crossed $100 per barrel. OMCs face under-recoveries…
Oil Extends Gain as Iran Says Hormuz Deal With Oman Is Close
(Bloomberg) -- Oil extended gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, which could tighten Tehran's control over the crucial waterway. West Texas Intermediate traded above $92…
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