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'…
What is Nayara, the Indian firm Russia is reportedly importing oil from?
An Indian oil firm, Nayara Energy, has reportedly sold petroleum to Russia as Ukrainian attacks continue to target oil refineries across the country, triggering a fuel crisis. On Wednesday, industry sources told Reuters that at least 60,000 metric…
TotalEnergies Offers Iraqi Oil to Asian Buyers as Supply Swells
French oil major TotalEnergies SE is offering millions of barrels of Iraqi crude that can be promptly delivered to Asia, according to traders, adding to a market already brimming with supply. The offers by TotalEnergies should help accelerate oil…
Oil Falls as Supply-Disruption Concerns Continue to Ease
2343 GMT — Oil falls in early trade as concerns over supply disruptions in the Middle East continue to ease. “While the U.S.-Iran process remains fragile and disputes over [Strait of] Hormuz administration and transit fees persist, we…
Oil price 'may fall to $60 a barrel' as voyages through the strait of Hormuz jump - business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Hopes of peace in the Middle East have been pushing oil down in recent weeks, and there could be further falls to come! Analysts at…
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…
Russia's Oil-Port City on Black Sea Is Fast Running Out of Fuel
Novorossiysk, home to Russia's largest oil port on the Black Sea, is running out of road fuel, the latest fallout from a supply crunch spreading across the country as Ukraine continues attacks on key refineries. “Currently, no gasoline is…
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…
Citi Says Oil May Slump to $60 as the Hormuz Shock Fades Away
Brent oil could extend declines to $60 a barrel by year-end as disruptions in the Strait of Hormuz ease, according to Citigroup Inc., adding to a chorus of bearish outlooks for the global crude market. “Fundamentals are rapidly reasserting…
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…
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…
Receive a Daily briefing on Oil Industry News
Get Started