Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
As climate lawsuits advance, the oil industry enters 'panic mode
Could the oil industry be held responsible for fueling the extreme heat that led to a woman's death? That's the question at the heart of a novel lawsuit in Washington state. Misti Leon's mother died from overheating during the hottest day in state…
Trump is now running out of oil in new energy dangers
London | “We are now witnessing a new phase in the war,” Amir Mohammad Akraminia, the Iranian brigadier general, told state media on Thursday (Friday AEST). He's not wrong. Houthi militants claim to have bombed two Saudi oil tankers…
Oil has surged to $100, but the energy shock may be bigger than it looks
Oil prices have surged over 30% over the past month to breach $100 a barrel as renewed US-Iran fighting in the Middle East threatens global energy supplies. Attacks in the Red Sea are also adding to disruptions through the Strait of Hormuz, putting…
Oil hits $100 per barrel
Oil prices have jumped as the conflict with Iran escalates, this time with attacks on ships in the Red Sea by the Houthi militia group aligned with Tehran. © European Union's Operation Aspides via AP On Thursday, international benchmark Brent…
U.S. Futures Stabilize as Oil Falls Below $100
U.S. stock futures steadied in early European trade as Brent crude oil fell back below $100 a barrel. Investors paused for breath after frenetic selling Thursday, when fears around U.S.-Iran escalations reverberated through global markets. The…
Oil Prices Top $100 On Cargo Squeeze From The Middle East
Oil tankers 'Al-Riqqa' (left) and 'Al-Yarmouk' sail in the Arabian Gulf waters, off the coast of Kuwait City on June 27, 2026. (Photo: Yasser Al-Zayyat) Oil prices hit their highest levels since May topping $100 per barrel on Thursday as heightened…
US stocks tumble as Brent oil tops $100
Wall Street stocks tumbled early Thursday as oil prices shot higher on worsening effects of the US-Iran war while Tesla and Google parent Alphabet fell sharply after earnings reports. SCROLL TO CONTINUE WITH CONTENT International oil benchmark…
Oil hits $100 after Houthi attack on Saudi tankers worsens oil supply disruption
Oil prices hit their highest in nearly two months on Thursday, rising for a fifth day after Yemen's Houthis said they struck two Saudi oil tankers, widening disruption to global oil shipping through both the Red Sea and the Strait of Hormuz. SCROLL…
Oil Futures Edge Lower on Likely Technical Correction
2339 GMT — Oil futures edge lower on likely technical correction after Brent futures settled above $100 per barrel overnight for the first time in two months. However, losses may be limited by rising concerns over supply disruptions in the…
Oil passes $100 a barrel again: why it's more serious this time
Brent crude went back over $100 a barrel Thursday for the first time since May, as the conflict in the Middle East intensified. This time however, the impact on the world economy could be greater given the conflict shows no sign of ending and…
Meet SLB: The $70 billion oil services giant poised to cash in on AI data centers and the post-Strait of Hormuz oil exploration boom
In 1912, the French physicist Conrad Schlumberger could be found kneeling on the ground of his family's estate in Normandy, strategically placing wired electrodes in the soil. He was performing conductivity tests to detect the buried ruins of a…
$100 Oil Is Back, Raising The Specter Of $5 Gasoline Prices To Come
AT SEA - MARCH 7: (EDITOR'S NOTE: Best quality available) The British-registered cargo ship 'Rubymar' sinking after it was targeted by Yemen's Houthi forces in international waters in the Red Sea, on March 7, 2024, in the Red Sea. The Houthis…
Oil Prices Roar Back, Threatening Economy
That was the national average retail price for diesel on Thursday, up 39% from a year earlier, according to AAA. Diesel prices have been rising even faster than those for gasoline or crude oil. Diesel, which fuels trucks, construction equipment and…
Russia Eyes Longer Diesel Export Ban as Ukraine Hits Oil Assets
Russia is considering extending a diesel-export ban for another month as Ukraine steps up attacks on the country's oil industry, Interfax reported. The move could add extra pressure on fuel markets that are already strained by supply disruptions in…
Kazakhs Mull Directly Pursuing Oil Majors for $5 Billion Fine
Kazakhstan is considering the option of collecting a disputed $5 billion environmental fine by going directly after the oil majors behind the Kashagan venture, the Justice Ministry said. Enforcement proceedings, which were initiated by a bailiff's…
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