Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
U.S. backs Venezuela oil revival, but investment gap looms
April 27 (UPI) -- The U.S. chargé d'affaires in Caracas urged Venezuela's private sector to seize what he described as a 'historic opportunity' in the oil industry, as Washington pushes to revive the country's energy sector. In a post on X…
California oil fight tests state's right to push back against Washington during war
Crude oil pumped from the depths of the Pacific Ocean is flowing for the first time in more than a decade through a pipeline that crosses California state park land after the Trump administration defied state officials to restart drilling off Santa…
Oil Prices Rise In Europe On U.S.-Iran Talks Stalemate
A crude oil storage facility in Cushing, Oklahoma, U.S. (Photo: Johannes Eisele) Oil prices rose again on Monday on stalled negotiations between the U.S. and Iran, aimed at bringing the conflict in the Middle East to an end. Trading in Asia saw…
Blue chips falter as oil price moves ever 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. The FTSE 100 closed down on Monday, weighed by falls in…
The Oil Market Is Flashing More Wartime Warning Signs
Americans' breather from price hikes at the pump may be over already. U.S. gasoline futures Monday hit $3.49 a gallon, their highest level since the U.S. and Israel launched strikes on Iran. Up more than 100% this year, front-month contracts for…
Hormuz: Why Markets Are Shrugging Off The Oil Shock
The “20% of global oil closed” framing was always misleading. In reality, the reduction in impact came primarily from four forces, and the primary source documents each. FactSet's April 17 Earnings Insight shows 88% of reporting S&P…
Oil Prices Climb As U.S.-Iran Talks Stall And Strait Of Hormuz Stays Blocked
A crude oil storage facility in Cushing, Oklahoma, U.S. (Photo: Johannes Eisele) Oil prices rose again on Monday on stalled negotiations between the United States and Iran aimed at bringing the conflict in the Middle East to an end. Trading in Asia…
Oil shock worsens as Strait of Hormuz closure nears two months
As of Monday afternoon, the international benchmark Brent crude was up by more than 2%, trading around $108 per barrel. These higher oil prices have caused further upward pressure on the prices of petroleum products, including gasoline and jet…
Blue chips falter as oil price moves ever higher
The FTSE 100 closed down on Monday, weighed by falls in Marks & Spencer, J Sainsbury and Shell, as the stalemate in the Middle East dragged on. The FTSE 100 closed down 57.99 points, 0.6%, at 10,321.09. The FTSE 250 ended down just 3.38 points at…
Ex-Credit Suisse Bankers Aim to Finance Venezuela Oil Revival
A private-credit firm founded by former Credit Suisse bankers is seeking to finance Venezuela's oil services sector, as one of the country's largest energy conferences in decades draws investors back to Caracas. ArtCap Strategies plans to deploy…
Trump Cancels More Wind Leases to Spur Oil and Gas Investment
Two offshore wind developers will give up federal leases and instead commit funds to fossil fuel projects under agreements with the Trump administration, the Interior Department said Monday. The deals mark the latest step in the administration's…
'The damage is done': Global oil crisis has changed fossil fuel industry for ever, IEA chief says
Exclusive: International Energy Agency's Fatih Birol, the world's leading energy economist, also says UK should largely forgo North Sea expansion By Fiona Harvey Environment editor The oil crisis triggered by the Iran war has changed the fossil…
Oil Prices Rise With Iran Talks at Impasse - TT
A trader at the New York Stock Exchange. (Richard Drew/Associated Press) Trading on Wall Street was quietly mixed early April 27 and oil prices crept up again as talks on ending the war with Iran remained at an impasse. Futures for the S&P 500 are…
Watch Goldman Hikes Oil Forecasts Again as Hormuz Shock Builds
Daan Struyven, Goldman Sachs Co-Head of Global Commodities Research, joins Bloomberg Businessweek Daily to discuss his team's latest oil outlook. Struyven and his team upgraded Brent to $90/barrel by the fourth quarter, citing lower Persian Gulf…
Treasuries Slide as Mounting Oil Prices Offset Auction Results
Treasuries fell amid rising oil prices even as the two US government debt auctions drew improved demand in the $31 trillion market. The decline pushed yields higher by two to three basis points across maturities as talks between Iran and the US on…
Receive a Daily briefing on Oil Industry News
Get Started