Oil Industry News
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Energy Up With Oil Futures -- Energy Roundup
Shares of energy companies rose alongside oil futures after reports that the Trump administration could resume military operations in Iran following the midterm elections. Baker Hughes shares slid after the oil-services firm posted a decline in…
Trump unveils plan to loosen methane rules for oil and gas industry
Texas is the top oil-producing state in the country. The president's announcement comes as the administration has taken several steps to curb high fuel prices, which have been driven by the wars in Iran and Ukraine. Nationwide diesel prices remain…
Trump moves to ease methane emissions rules for oil and gas industry (VDE:NYSEARCA)
President Donald Trump said Tuesday that his administration plans to roll back a Biden-era regulation aimed at reducing methane emissions from oil and gas drilling. Methane, a potent greenhouse gas, is the second-largest contributor to climate…
Tourmaline Oil Corp. stock rises Wednesday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.61% higher to C$67.74 Wednesday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.26% to 36,265.09. Tourmaline Oil…
Trump rolls back methane rules for US oil and gas industry
US President Donald Trump announced on Tuesday plans to significantly ease restrictions on methane emissions from oil and gas producers, targeting regulations aimed at limiting the release of the potent greenhouse gas. The regulations were…
LA pushes oil drilling shutdown despite industry warnings of lawsuits, gas price hikes
Los Angeles is pushing ahead with a sweeping 20-year shutdown of oil drilling across the city after the Council voted 13-0 Wednesday, despite warnings from oil companies of costly lawsuits, property rights violations and increased dependence on…
Oil Prices Rise as Houthi Militants Target Saudi Energy
Oil prices rose Wednesday as traders assessed renewed threats to Middle East energy supplies after Yemen's Houthi militants said they targeted Saudi Arabia 's largest oil refinery. December Brent crude futures rose 1.9% to $116.03 a barrel, while…
Canadian Oil Discount Exceeds $30 Amid Gulf Coast Pressures
Heavy crude oil in Alberta has weakened to the lowest price relative to US futures in more than four years. Western Canadian Select 's discount — also called a differential — in Alberta grew to $31 a barrel compared to a monthly…
Europe needs more oil refineries to weather energy shocks, EU warns
Brussels is seeking to reverse two decades of declining oil refining capacity in the EU, with Energy Commissioner Dan Jørgensen warning that geopolitical instability and a prolonged squeeze on diesel supplies should serve as a 'wake-up…
Oil is Gushing Out of the Gulf. Why Are Prices Still Above $100 a Barrel?
Oil exports from the Persian Gulf have rebounded significantly, at times returning to and even surpassing their prewar volumes. But prices for the global benchmark Brent have once again climbed to around $110 a barrel, a level last seen in late…
The Oil Market Should Brace for a Forever Stalemate in Iran
The oil market sees the future of the Iran war as binary. Either Tehran and Washington reach a deal — in days rather than months — or they head into an extended and worsening conflict. With few signs of peace, the market is…
Global Conflicts Spur Historic Comeback for Oil Refining Profits
The business of refining oil is experiencing historic disruption. It's also never been more profitable. Attacks in the Middle East and Russia have left the world desperately short of fuel-making capacity this year, forcing refineries elsewhere to…
Fed Leaves Rates Unchanged, Oil Tops $115
This is an edition of the Markets P.M. newsletter, a recap of the day's most important markets moves, delivered after the closing bell. If you're not subscribed, sign up here. The Federal Reserve left interest rates unchanged, while hinting a…
Trump announces proposal to loosen methane rules for oil and gas production
President Trump announced plans to loosen methane regulations from the oil and gas sector during a Lubbock, Texas rally Tuesday night. The announcement came during the president's second campaign stop of the day in Texas, during which he aimed to…
Saudi Oil Exports Near Wartime High as Houthis Mount Attacks
Saudi Arabia's oil exports are holding near wartime highs this month despite a wave of attacks on the kingdom's energy infrastructure and an increase in reported Iranian strikes on tankers in the Strait of Hormuz, according to preliminary data from…
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