Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump administration extends Russian oil sanctions waiver for 'most vulnerable nations'
The Trump Administration is extending a waiver that allows some Russian oil to be purchased despite sanctions on Moscow, as the war in Iran leads to higher gas, oil and energy prices. The policy is intended to help nations that are the most…
Why Oil Hasn't Hit $150-Yet
TOPSHOT - In this picture obtained from Iran's ISNA news agency on May 4, 2026, vessels are pictured anchored in the Strait of Hormuz off Bandar Abbas in southern Iran. Iran's Revolutionary Guards on May 4 denied that any commercial ships had…
Exciting Times for Alaska Energy: Pikka Project Now Reaching First Oil
Whenever some proposed new oil or natural gas project is under discussion, the refrain from the left, environmentalists, and climate scolds (but I repeat myself threefold), as part of their objection, proclaim 'but no new oil/gas will be extracted…
A Tale Of Two Oil Shocks: Why 2026 Feels Big, But Isn't As Big As 1973
1973 Sorry No Gas Sign Beside Gas Pumps At Service Station Due To OAPEC Oil Crisis. Whether the 2026 crisis will approach the severity of the 1973 embargo remains to be seen, but it is unlikely. H. Armstrong Roberts/ClassicStock As the world…
FTSE 100 up amid calmer bonds but oil rises again
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 on Monday, recouping most of…
Trump extends Russian oil sanctions waiver for most vulnerable nations
The waiver was extended in April, and officials, including Bessent, indicated that it would not be renewed. A source familiar with the decision to extend the waiver told Reuters that the second extension was required by poor and vulnerable nations…
Brazil's Record Oil Production Comes at a Crucial Moment for Global Markets
Recent oil price shocks in response to the closure of the Strait of Hormuz underscore the importance of oil-producing countries outside of the Middle East. One of the most important is Brazil, Latin America's largest economy and oil producer. The…
India Weighing Edible Oil Import Duty Hike to Support Farmers
India is considering a request by the domestic vegetable oil industry to raise import duties, potentially increasing taxes on another major commodity just after a hike in gold tariffs. The world's top edible oil buyer is examining whether higher…
Bloomberg Surveillance: Oil Sanctions on Iran
The economy and the markets are 'under surveillance' as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join…
EPA takes on PFAS, an annual EV fee proposal, and Russian oil waiver
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for…
BofA's Blanch Says $90 Brent Is Oil Market's Best-Case Scenario
Bank of America 's commodities and derivatives research chief said his best-case oil-price scenario is Brent averaging $90 for the rest of the year, and the market may go even higher if the stalemate with Iran persists or heats up with fresh…
Trump's Iran warning sends oil prices soaring and global markets tumbling
Global markets experienced a turbulent start to the week, with Asian stocks largely retreating and oil prices surging, following a stark warning from Donald Trump to Tehran that 'the clock is ticking' amid stalled negotiations over a permanent end…
FTSE 100 up amid calmer bonds but oil rises again
The FTSE 100 closed higher on Monday, recouping most of Friday's hefty falls amid a calmer bond market and as Iran responded to the latest US peace proposal. The FTSE 100 closed up 128.38 points, 1.3%, at 10,323.75. The FTSE 250 ended up 15.56…
Indonesian Rupiah Falls to Record Low on Oil as Markets Reopen
The Indonesian rupiah fell to a new all-time low and stocks slid as oil prices advanced and as local markets reopened after a two-day holiday. The rupiah dropped 1.1% to 17,658 per dollar on Monday, the worst performer in the region. Equities…
Bessent gives 30-day extension to import Russian oil as Iran war squeezes supply
US Treasury Secretary Scott Bessent said on Monday the US will give a 30-day extension for countries to import Russian oil that is already in tankers at sea, a move that is meant to reduce the oil supply shortages caused by the Iran war. The…
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