Oil Industry News
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Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.88% higher to C$60.69 Friday, in what proved to be an otherwise all-around down trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.32% to 34,857.34. Tourmaline Oil…
Vance is wrong, Iran oil sales will obviously fund terrorism
The U.S.- Iran memorandum of understanding to end the war with Iran is as feeble for U.S. and allied interests as the war was foolish. The MOU provides Iran with immediate, significant financial benefits and defers the instrumental question of…
Fifa urged to drop Saudi oil giant Aramco as activists target World Cup
As scorching temperatures beat down on World Cup soccer games across North America, climate activists – including former and current professional athletes – are calling for Fifa and other professional sporting organizations to cut…
Hormuz Reopening Shifts Focus to Gulf Oil Storage and Shipping
Iran effectively shut the Strait of Hormuz after the war with the U.S. and Israel broke out on Feb. 28, choking an artery that normally carries about a fifth of globally traded oil. Reopening of the waterway has begun under a U.S.-Iran agreement…
Oil Mixed as Shipping Through Strait of Hormuz Resumes
'Shipping through the Strait of Hormuz resumed after the U.S.-Iran interim peace deal was signed,' with return of traffic flows through the strait starting to show up in vessel tracking data overnight, said John Oh, economist at Commonwealth Bank…
Why Oil Prices Are Falling Even as Tankers Remain Trapped
Oil prices tumble as markets bet on a Hormuz reopening despite slow tanker movements following the U.S.-Iran ceasefire. The signing of the US-Iran ceasefire agreement might provide a 60-day evacuation window for all crude tankers stuck since March…
Oil prices fluctuate after U.S., Iran call off talks in Switzerland
June 19 (UPI) -- Global oil prices have fluctuated slightly on Friday, briefly reaching back above the $80 per barrel mark for Brent crude, as the United States and Iran called off further talks in Switzerland. A stall in talks between the United…
Stock markets soar and oil prices fall as Strait of Hormuz reopens
Japanese and South Korean stock markets experienced significant gains on Friday, driven by a fragile peace agreement in the Middle East that led to the reopening of the crucial Strait of Hormuz. The reopening of the Strait, following the lifting of…
Iran Oil Surges as Seven Supertankers Sail After Blockade Lifts
Iran is shipping large amounts of oil that had previously been held back by a US blockade, a potential boost for Tehran after it signed an interim peace deal with Washington on Wednesday. A total of 11 tankers hauling a combined 20 million barrels…
Futures Rebound, Oil Slides, After Israel And Hezbollah Agree To Ceasefire
Update: the Yo-Yo insanity that is the on again, off again Iran war. Moments after we reported that futures and global risk assets had sold off overnight on a delay to today's start of peace talks in Switzerland due to Iran's protest of ongoing…
Supertankers With 80 Million Barrels of Oil Ready to Pass Hormuz
Supertankers laden with almost 80 million barrels of oil are sitting in the Persian Gulf and ready to cross the Strait of Hormuz at a moment's notice, if traders and shipowners give the go-ahead. This non-sanctioned crude from Persian Gulf…
Oil prices under new wave of pressure amid lingering questions over a Strait of Hormuz reopening
Oil prices bounced around on Friday, as investors absorbed a flurry of headlines related to the fragile U.S.-Iran peace deal, including one that indicated the Strait of Hormuz was again closed. That report surfaced after deadly clashes overnight…
Oil Falls on Signs of Strait of Hormuz's Reopening
2344 GMT — Oil falls in early Asian trade on signs of a reopening of the Strait of Hormuz, a critical channel through which one-fifth of the world's oil is typically transported. “The U.S.- Iran interim peace deal took effect and…
Abu Dhabi Tells Buyers to Load Oil Shipments From Inside Hormuz
Abu Dhabi National Oil Co. has told its customers to resume loading its crude oil from ports within the Persian Gulf, the company said in a notice sent to customers seen by Bloomberg and corroborated by term lifters. The United Arab Emirates…
Oil prices fall and Asian stocks rise as Strait of Hormuz reopens
Japanese and South Korean stock markets soared on Friday, buoyed by a fragile peace in the Middle East that saw the crucial Strait of Hormuz reopen. The development also sent oil prices tumbling further, alleviating immediate inflation concerns…
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