Oil Industry News
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US Steps Up Iran Strikes as Oil Industry Faces More Upheaval - TT
Secretary Pete Hegseth addresses a press conference March 10. (Department of War via X) The Pentagon said it's conducting the most intense day of attacks against Iran and won't give up until the Islamic Republic is defeated, striking a more…
EU eyes nuclear energy again as oil prices soar
EU chief Ursula von der Leyen on Tuesday said Europe's turn away from nuclear power had been a “strategic mistake”, as soaring oil prices rekindled concerns about the bloc's energy vulnerability. Speaking at a nuclear summit in Paris…
Philippines' fuel shock exposes limits of deregulated oil market
The Philippines was hit by a sharp fuel-price shock on Tuesday, with pump costs surging after the escalating conflict involving Iran pushed global oil prices higher, in what could become one of the country's steepest weekly increases in years.
European Gas Falls as Oil Retreat Drags Broader Energy Market
0806 GMT – European natural-gas prices plunge as fears of prolonged disruptions in the Middle East ease after President Trump said the war in Iran will end “very soon.” In early trading, the front-month Dutch TTF contract drops…
Struggling trucking industry hit by higher oil prices
Increasing fuel prices are putting upward pressure on Australia's already struggling road transport industry. Global oil prices have spiked over the past week, reaching about $US114 a barrel on Monday, as geopolitical tensions rise in the Middle…
Households on heating oil already grappling with soaring prices
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. Households that rely on heating oil are grappling with…
Aramco warns of oil market 'catastrophe' unless strait of Hormuz reopens soon
Saudi Arabia's state oil company has warned of “catastrophic consequences” for the world's oil markets if the US-Israeli war with Iran continues to block shipping in the strait of Hormuz. The world's biggest oil company expects to be…
G-7 Energy Ministers to Meet in Effort to Stabilize Oil Market
Group of Seven energy ministers will meet in Paris on Tuesday as they continue to debate a possible release of oil reserves to stabilize markets, French Finance Minister Roland Lescure said Tuesday. The group, currently presided by France, said on…
Conventional Wisdom: Oil shock edition
Oil crossed $100 a barrel in Asian markets Sunday night for the first time since Russia invaded Ukraine in February 2022, then exploded past $119 at the New York open Monday morning as traders finally absorbed what a closed Strait of Hormuz…
Feast to Famine in the Oil Market
U.S. stocks look set to continue their Monday afternoon bounce when trading begins. There's a palpable sense of relief as oil prices retreat. The trigger was President Trump's statement that the war in Iran would be over “very soon.”…
Oil shock
EXTERNAL shocks have repeatedly shaped Pakistan's economic trajectory. From oil crises to global financial turbulence, the pattern is a familiar one: rising import costs weaken the balance-of-payments, inflation accelerates and pressure mounts on…
Why oil prices are trending | CNN Business
Crude oil prices soared on Monday as the Iran war continues to escalate, briefly surging to the highest level since Russia's invasion of Ukraine. CNN's Hanna Ziady explains what is causing the spike in prices. Discover more videos, including live…
Again, do not panic on oil prices
I also anticipated a faster reaction by the administration of President Donald Trump to the spike in oil prices, which policymakers are just now taking concrete steps to reverse. It's another reminder that markets move faster than politicians.
Aramco CEO warns of 'catastrophic consequences' for the oil industry if Hormuz disruption drags on
Oil and gas traffic through the Strait of Hormuz remains severely disrupted and has effectively ground to a halt following escalating military conflict in the Middle East Published 10 March 2026, 09:04Updated 10 March 2026, 09:04…
No shortage of edible oil: PVMA
KARACHI: Amid increasing geopolitical tensions and supply chain disruptions caused by the US-Iran conflict, ghee and cooking oil producers have assured that there is no shortage of these items due to sufficient stocks to satisfy domestic demand for…
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