Oil Industry News

Exclusive | Oil Industry Warns Trump Administration Fuel Crunch Will Likely Worsen

American oil executives delivered a bleak message to Trump officials in recent days: The energy crisis the Iran war has unleashed is likely to get worse. In a series of White House meetings Wednesday and recent conversations with Energy Secretary…

Oil loading operations at UAE's Fujairah have restarted, industry source says

Energy Secretary Directs Oil Company To Resume Operations In California, Citing National Security

Energy Secretary Chris Wright on March 13 directed the Texas-based oil company Sable Offshore Corp. to restore operations in water off southern California. Wright invoked the Defense Production Act to restore the company's Santa Ynez Unit and…

Best Oil & Gas ETFs: A Closer Look at XOP, IEO, and PXE

Sector ETFs offer diversified exposure to the oil and gas industry. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) provides access to oil firms. iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) tracks prominent…

Plans for support on heating oil costs to be announced

Plans to support households who have faced a sharp rise in the cost of heating oil are to be set out by the government. The price of heating oil has spiked since the outbreak of the US-Israeli war with Iran, as the cost of crude oil has jumped…

The Biggest Oil Risk Is at the Bottom of the Barrel

In the oil industry, fuel oil is known as the bottom of the barrel. It's typically cheap, unloved and, crucially, comes from the bottom of a petroleum-distillation tower — the tall piece of refining kit where crude gets heated and cracked…

Oil Futures Open Above $100 a Barrel

U.S. oil prices climbed back above $100 a barrel on Sunday, after the Pentagon in recent days began moving additional warships and Marines toward Iran. Benchmark U.S. crude futures recently traded around $101 a barrel. They gained nearly 9% last…

Oil prices whipsawed this week as Iran war rattled global markets

The swings have already begun filtering into U.S. gasoline markets, with Washington officials warning that higher crude prices could push pump prices upward in the coming weeks if the conflict continues. Prices first spiked late Sunday into early…

IEA says oil from emergency stocks to flow in Asia immediately

The International Energy Agency said oil from a record stockpile release will be made available in Asia immediately as buyers in the region clamour to replace barrels lost to war-related disruptions in the Middle East. The agency released a…

How to Hedge Against $100 Oil, According to Market Strategists

This article is for subscribers only. Welcome to CFO Briefing, a newsletter dedicated to corporate finance and what leaders need to know. This week, we check in with Daimler Truck CFO Eva Scherer. But first, is there any room left to hedge against…

Zelensky accuses EU allies of 'blackmail' in oil pipeline row

James LandaleDiplomatic correspondent, Kyiv Ukrainian President Volodymyr Zelensky has accused European allies of seeking to 'blackmail' Kyiv into reopening a pipeline transporting Russian oil to Hungary and Slovakia. He said restoring the flow of…

Bond Market in Oil's Grip Ponders Shifting Focus to Growth Worry

Bond investors are starting to ponder whether the inflation worries sparked by the Iran war will soon tip over into concern about the risk to economic growth from elevated oil prices. For now, with crude around the most expensive since the…

Oil Volatility And The Market Impact

The S&P 500 extended its losing streak to three consecutive weeks, the first such run in roughly a year. We have shifted from a “buy the dip” market to a “sell the rip” environment. If the market breaks the 200-DMA, that…

Emergency oil stocks released to counter Iran war price shock

Over 400 million barrels of oil from the International Energy Agency's emergency reserves are set to be released, the organisation has confirmed, detailing its plan to counter a significant surge in crude prices since the onset of the Iran war.

Iran Denies Negotiations with the US, Oil in Focus, More

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