Oil Industry News
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Electrifying The Military - Could Batteries Replace Oil Soon?
At an estimated 250,000 or more, the US military has the largest number and variety of land vehicles among the world's armed forces. What might it take to hybridize or electrify such a combined fleet? (Photo by Mandel NGAN / AFP) (Photo by MANDEL…
Woodside scraps long-term emissions and clean energy targets despite windfall oil profits caused by Iran war
Woodside Energy has scrapped its long-term emissions and clean energy targets, even after enjoying a period of windfall oil profits caused by the Iran conflict. Australia's biggest oil and gas company recorded a 27% increase in sales profit to…
FTSE 100 outperforms as oil price heads lower
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 higher in London on Monday…
Oil Edges Higher as Traders Assess U.S. Measures Against Iran
2337 GMT — Oil edges higher as traders assess new U.S. measures against Iran. Treasury Secretary Bessent said the U.S. is launching a new campaign to isolate Iran. Bessent said the U.S. was sanctioning more than 60 entities, individuals and…
China is the biggest buyer of Iran's oil. Could US sanctions threaten those ties?
The US has put the world on notice to cease doing business with Iran, but experts say Washington is wary China could retaliate against any sanctions The US has unveiled an expansion of sanctions that it says will cut off Iran's economic lifeline…
FTSE 100 outperforms as oil price heads lower
The FTSE 100 closed higher in London on Monday, outperforming European peers, as oil prices edged lower and investors looked ahead to key events in the US later this week. The FTSE 100 index closed up 37.76 points, 0.4%, at 10,854.32. The FTSE 250…
Asian shares are mixed and oil prices hold steady as the US raises pressure on Iran
Asian shares were mostly lower Tuesday after U.S. stocks drifted to a mixed finish ahead of potentially market-moving events later in the week. Regional benchmarks traded in a narrow range and U.S. futures were nearly unchanged. Oil prices were…
Can Burnham justify giving the go ahead to oil drilling? Yes, but these must be the conditions | Michael Jacobs
The British government must soon decide whether it should give consent to two oil and gasfields, Rosebank in the North Atlantic and Jackdaw in the North Sea. Amid both insecurity of energy supplies and deadly evidence of the climate crisis, the…
Chinese refiner Sinopec to boost oil imports from outside the Gulf
Chinese refiner Sinopec will increase the sourcing of its oil from Brazil, Africa and beyond to contend with supply disruptions caused by Middle East conflict, company executives said on Monday after reporting interim results on Sunday. SCROLL TO…
Indian Stock Market Declines: US-Iran Tensions, Crude Oil Prices Impact Sensex, Nifty
Indian stock markets, including the Sensex and Nifty, saw early declines driven by the escalating geopolitical tensions between the US and Iran, coupled with a rise in global crude oil prices, signalling potential for increased market volatility.
Shares, oil dip as US sanctions on Iran loom
LONDON/SYDNEY, Aug 24 (Reuters) - Global stocks slipped on Monday and oil prices eased as investors awaited details of threatened U.S. sanctions on Iran, while the Canadian dollar dipped as a trade war loomed with its southern neighbour. U.S.
Global oil prices fall ahead of 'Economic D-Day' announcement on Iran
Aug. 24 (UPI) -- Oil prices fell slightly on Monday ahead of the unveiling by U.S. Treasury Secretary Scott Bessent of the toughest set of Iran sanctions yet. The futures contract for Brent crude, the international benchmark, fell by around 1.4% to…
Hormuz Oil Flows Are Going Strong as War Drags On
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley takes a look at the success of several Persian Gulf nations in shipping their oil to the global market even as…
U.S. Says Oil Is Pouring Through Hormuz. Trackers Can't Find It.
DUBAI—The Trump administration says large volumes of oil are slipping through the Strait of Hormuz. The trackers whose job it is to count the world's oil shipments see much less. Energy Secretary Chris Wright said last week the U.S. military…
Oil Prices Slip, Remain Steady After Bessent Remarks
Brent futures, the international benchmark, closed at $92.17 a barrel, while the U.S. benchmark, WTI, closed at $85.01. Both prices were relatively stable after Bessent's press conference announcing the new campaign.
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