Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump's crooked 'art of the deal' with Big Oil
The American people have seen several big oil scandals over the last century. We have survived Teapot Dome, the collapse of Enron, windfall profiteering during the 1970s oil crisis, Exxon Valdez, Deepwater Horizon and more. But President Trump's…
Bond Market Ditches Warsh Trade as Oil Surges
This article is for subscribers only. Not long ago, the US Treasury market thought it had the Kevin Warsh trade figured out: Simply bet on the multiple interest rate cuts that the nominee had been expected to deliver if he got the job to lead the…
Global energy crisis highlights meagre oil buffers in developing world
As the blockade of the Strait of Hormuz drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock. Although…
Oil shortages are even hitting colored snack bags
First, fuel prices surged. Now, even potato chips aren't safe from the global petrochemical squeeze. In Japan, snack giant Calbee — known for its popular potato chips — is switching some colored snack packaging to black and white…
Oil crunch drains colour from 1 of Japan's favourite snacks
One of Japan 's best-loved snack brands is switching to monochrome packaging for a number of its products due to a shortage of naphtha – a crude-oil derivative used in petrochemicals and printing inks – caused by the closure of the…
Bond Market's Warsh Trade Falls Apart as Oil Fans Inflation Risk
Not long ago, the Treasury market thought it had the Kevin Warsh trade figured out: Simply bet on the multiple interest rate cuts that the nominee had been expected to deliver if he got the job to lead the Federal Reserve. Now, with days left…
Unheralded EOG: A Focused Oil Company With Clearcut Success Strategy
The stock of EOG Resources is up about 30% since the Iran war started. That's not surprising because other oil and gas companies are up like this. What is surprising is its market cap is the biggest of independents in the U.S., an unheralded…
Trump 'seriously considering' plan to make Venezuela and its $40 trillion in oil permanent part of USA
President Donald Trump is eyeing oil-rich Venezuela as a potential 51st state as officials continue to court oil companies for investments in the South American country following the U.S. intervention that removed President Nicolas Maduro from…
India has 2 months stock of fuel, but...: Oil minister
With two months of fuel stockpiles, India faces no supply concerns despite disruptions to global energy flows, Oil Minister Hardeep Singh Puri on Tuesday said, while warning that state-run fuel retailers face losses of as much as Rs 1 lakh crore in…
Asia Stocks to Gain, Oil Rises on US-Iran Deadlock: Markets Wrap
Asian stocks looked set to rise as traders stayed bullish on the AI trade even as the US and Iran failed to reach any peace deal. Oil climbed and Treasuries fell. Equity-index futures for Australia, Japan and South Korea pointed to gains at the…
Oil Market in 'Race Against Time' on Hormuz - TT
The Strait of Hormuz. (maps4media/Bloomberg) The oil market is in “a race against time” as the factors that combined to restrain price rises from the Iran war stand to come under strain if the Strait of Hormuz stays closed into June…
Oil Edges Higher as Markets Weigh Prolonged Hormuz Strait Closure
0015 GMT — Oil edges higher in early trade as markets weigh the prospects of a prolonged closure of the Strait of Hormuz, a waterway through which one-fifth of the world's oil is typically transported. President Trump on Monday rejected…
Behind Big Oil's first-quarter beat: The quiet rise of trading desks
Oil and gas giants benefited significantly from their trading desks through the first quarter. These units are specialized divisions that buy, sell and transport physical oil and gas while managing price risks. Analysts said trading contributions…
US Unleashes Another Wave of Emergency Oil as Gas Prices Bite
The US Strategic Petroleum Reserve awarded 53.3 million barrels to companies including oil trader Trafigura Group and US refiner Marathon Petroleum Corp, adding to a wave of oil released to help tame surging prices stemming from the Iran war.
Oil Tanker U-Turns Into Gulf of Oman After Exiting Hormuz
(Bloomberg) -- An oil supertanker that exited the Persian Gulf on Sunday hauling a cargo of Iraqi crude appears to have stopped shy of the US naval blockade line and is now turning back into the Gulf of Oman. The very large crude carrier Agios…
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