Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Up With Oil Futures on Hormuz Optimism - Energy Roundup
Shares of energy companies ticked up alongside oil futures. Oil futures rose 11 cents to $68.69 a barrel but retreated for the fourth consecutive week amid signs that Middle East energy exports were returning to prewar levels. The U.S. and Oman are…
Natural gas closes in on oil's top energy perch - TT
The gap between oil and gas has narrowed in the past decade as the shale revolution supercharged natural gas output. (Mark Felix/Bloomberg) Natural gas is poised to surpass petroleum as the top U.S. energy source by 2030 after the gap nearly closed…
Tourmaline Oil Corp. stock rises Thursday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.69% higher to C$59.71 Thursday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.31% to 34,966.67. Tourmaline Oil Corp.
Edible oil industry body IVPA inks MoU with China's trade body CFNA for bilateral cooperation
Edible oil industry body IVPA has signed an MoU with China Chamber of Commerce of Foodstuffs and Native Produce (CFNA) to strengthen cooperation between the companies of the two countries. In a statement on Thursday, Indian Vegetable oil Producers'…
Evolution of Scotland's oil and gas sector is creating positive energy
ONE of Scotland's proudest industries, oil and gas, has undergone a highly publicised transformation in recent years; the UK now imports over 42% of its energy needs, up from around 30% in 2019. A leading UK wealth planning business, TrinityBridge…
Alarm after herring gulls found covered in oil in Peel
A series of herring gulls have been found doused in oil in the west of the Isle of Man, prompting concerns from conservationists. Thirteen birds were discovered around Mill Road in Peel coated in an unknown orange substance and 'smelling like fish…
Oil prices are now back to prewar levels, but the market is not. Here's what could happen next.
Oil prices have finally fallen back to pre-Iran war levels — but the crude market is far from seeing a normalization of shipping, oil supplies and demand that such a big retreat implies. A faster-than-expected reopening of the Strait of…
The backlash to Iranian oil sanctions relief misses the point
The Trump administration is currently coming under fire for their decision to temporarily lift sanctions on Iranian oil, but the proposed alternatives have become detached from reality. The vocal opponents are treating the decision as though…
NYMEX Overview: Crude Futures Fall on Optimism Over Recovering Middle East Oil Flows -- OPIS
London-based September ICE Brent crude futures were down about 90cts to $70.65/bbl and October Brent was around 85cts lower to $71.15/bbl. The price differential between WTI and Brent widened slightly to around $4/bbl, which was still sharply lower…
Watch Prasad: Oil Flow is Up But Market Uncertainty Remains
Prasad: Oil Flow is Up But Market Uncertainty Remains Oil extended its drop for a third day, as flows through the Strait of Hormuz climbed. Aathira Prasad, Director of Macroeconomics at Nasser Saidi & Associates, spoke to Bloomberg's Abeer Abu Omar…
India Plans to Expand Oil Reserves to Guard Against Price Spikes
India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I'm not worried about it, but I have to prepare for it,” Oil…
Oil falls to four-month low as US, Iran conclude talks in Doha
HOUSTON, July 2 (Reuters) - Oil prices fell more than 1% to a four-month low on Thursday as concerns over supply disruptions eased after mediator Qatar said Iran and the U.S. made progress in talks over ending the four-month war that shut…
Oil drops below prewar prices on Saudi supply rebound - TT
“A wave of oil is about to enter the market,” said Natasha Kaneva, head of commodities research at JPMorgan Chase & Co. (Elke Scholiers/Getty Images via Bloomberg) Oil fell below prewar levels as Saudi Arabia restored crude exports…
Iran's Floating Oil Stockpile Swells as Major Buyers Stay Away
A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington. More than 58 million barrels of Iranian crude and condensate was on-the-water as of July 1…
Stocks Rise on Jobs Miss, Saudi Oil Ships Through Hormuz, More
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