Oil Industry News
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Wall Street indexes slip as oil prices rise, retail results awaited
Wall Street's three major indexes fell on Monday as investors waited for quarterly reports from large retailers to provide insights into U.S. consumer spending, while oil prices rose as the U.S. and Iran appeared no closer to a deal. SCROLL TO…
Consultation ending on controversial Rosebank oil field
Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering revised applications for the £8.7bn project off Shetland and…
Consultation ending on controversial Rosebank oil field
Scotland environment, energy and rural affairs correspondent Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering…
Oil prices jump after US-Iran ceasefire expires and Trump threatens Oman
Oil prices have risen again after the two-month window to negotiate a peace deal in the US-Israel war on Iran expired on Monday with no end to the conflict in sight. Iran said on Monday that it would take a more aggressive stance if talks with the…
US Stock-Index Futures Drop as Bond Yields, Oil Prices Rise
US stock-index futures fell as rising bond yields and a spike in oil prices unnerved investors. Contracts on the tech-heavy Nasdaq 100 dropped 0.8% as of 3:11 a.m. in New York, while those on the S&P 500 fell 0.4%.
China eyes peak oil demand by 2030 amid pipeline increase, smart rig tech plan
China has announced a new dedicated five-year plan to drill more crude oil and expand its network of pipelines as the world's largest importer of fossil fuels faces heightened supply risks from geopolitical tensions. The plan, unveiled on Monday by…
FTSE 100 drifts lower as oil price pushes higher
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. Stocks in London closed in the red on Monday, with fresh…
S-Oil's Shaheen project to boost Korea's petrochemical competitiveness
S-Oil said Tuesday that its Shaheen project, a massive petrochemical facility expansion which is under construction with commercial operations targeted for next year, will help strengthen the global competitiveness of Korea's petrochemical…
Stocks Fall, Oil Gains on Middle East Uncertainty: Markets Wrap
Oil prices climbed as prospects for peace in the Middle East dimmed, reviving concerns that prolonged geopolitical tensions may threaten supplies and keep energy costs elevated. Treasuries sold off. West Texas Intermediate rose 0.6% to $85 a barrel…
Stocks lower as Hormuz concerns and high oil prices persist
Global stocks mostly slipped Monday as lack of progress on opening the Straits of Hormuz outweighed expectations that the Federal Reserve will not raise US interest rates anytime soon. Oil prices edged higher as the United States and Iran showed no…
Unprofitable Oil Hedges Spur a Rethink Among Canadian Producers
Canadian oil producers, burned by their hedging strategies as prices soared to multiyear highs, are following in the footsteps of US shale firms and steering clear of the practice. Second-quarter investor calls show many firms operating in the…
CNBC Daily Open: Higher oil, higher yields, lower volatility
Rising oil prices send jitters through global stock and bond markets. Iran launches fresh attacks on vessels in the Strait of Hormuz after the ceasefire expires. U.S. President Donald Trump has threatened to bomb Oman if it 'gets in the way' of…
Oil prices rise as US-Iran ceasefire ends; UK wage growth slows amid cost of living squeeze - business live
Introduction: Oil prices rise as US-Iran ceasefire ends; UK wage growth slows amid cost of living squeeze Sanjay Raja, chief UK economist at Deutsche Bank, noted that job vacancies – the best proxy for jobs demand – slowed. The…
Iraq oil pipeline plan would take years to build, cost billions: Report
An Iraqi plan to develop a pipeline that would export oil through Syria and avoid future disruptions in the Strait of Hormuz is expected to take four years to reconstruct, likely costing at least $15 billion, Reuters reported Monday, citing two…
FTSE 100 drifts lower as oil price pushes higher
Stocks in London closed in the red on Monday, with fresh gains in the oil price and a lack of new catalysts curbing enthusiasm. The FTSE 100 index closed down 29.81 points, 0.3%, at 10,720.30. The FTSE 250 ended down 163.02 points, 0.7%, at…
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