Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Brace for a Flood of Oil as Soon as Hormuz Reopens
When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15% of the world's production, that had been shut down for a hundred days and counting. Nothing even…
Biscathorpe farm aims to keep oil site despite decommission plan
Eleanor Maslin East Yorkshire and Lincolnshire A farm is seeking permission to keep a former oil well site on its land, despite previous plans for it to undergo restoration work. The plans by developer Egdon Resources to drill on the site in…
US Stock Futures Drop After Tech Selloff, Oil Up: Markets Wrap
Equities looked set for more losses after a tech-led selloff on Wall Street Friday and a robust jobs report fueled expectations for an interest-rate hike by the Federal Reserve. Oil jumped after Iran fired missiles at Israel. Equity-index futures…
Stock markets fall and oil jumps as Middle East conflict intensifies and AI boom falters - business live
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Stock markets across Asia-Pacific countries are in retreat today, as investors fear a rise in US interest rates, renewed conflict in the…
PSCE: When The Oil Market Breaks, This Fund Should Soar (NASDAQ:PSCE)
Invesco S&P SmallCap Energy ETF offers concentrated, unhedged exposure to U.S. small-cap energy names, ideal for capturing upside in a tight oil market. PSCE benefits from global oil inventory drawdowns, persistent supply disruptions, and minimal…
Israel-Iran Trade Attacks, Oil Rises on Iran, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
Oil Prices Rise Amid Escalating Supply Disruption Concerns
2336 GMT — Oil prices rise in early trade amid escalating concerns of supply disruption in the Middle East. Iran fired at least four waves of missiles toward Israel on Sunday in response to an Israeli airstrike on Beirut hours earlier…
OPEC to increase oil output amid continued closure of Strait of Hormuz
June 7 (UPI) -- The Organization of the Petroleum Exporting Countries on Sunday agreed to increase production by nearly 200,000 barrels per day despite the Strait of Hormuz remaining closed, making it near-impossible to ship any of it. Ordinarily…
Oil companies lose Rs 700/cylinder despite hikes
Oil-marketing companies (OMCs) are suffering an under-recovery of Rs 700 on every cylinder of domestic liquefied petroleum gas (LPG) despite the latest price hike of Rs 29 per 14.2 kilogram cylinder, the ministry of petroleum and natural gas said…
Saudis Cut July Oil Prices to Asia, Though Still at Decades High
Saudi Arabia cut the price of its main crude grade to Asia for a second straight month, though the premium for barrels to the kingdom's largest market remained near the highest in decades. State producer Saudi Aramco will lower the price for Arab…
Stock Markets Tumble: West Asia Tensions, Oil Prices, and Global Sell-Off Impact Indian Equities
Indian stock markets, including the Sensex and Nifty, plunged in early trade amidst a sharp global equities decline, a fresh surge in crude oil prices due to escalating West Asia tensions, and a significant unwinding of the global AI-led rally.
Oil Prices Surge Over 3% After Israel Strikes On Lebanon
Oil prices were up more 3% on Monday, June 8, after Israel on Sunday launched renewed strikes on Lebanon despite a truce between the two countries, The US crude futures were up $2.10, or 2.32%, at $92.64 per barrel as of 0013 GMT, while Brent crude…
Oil prices rise after Iran fires missiles at Israel, escalating regional tensions
Iran fired missiles at Israel. U.S. President Donald Trump has been briefed on renewed fighting between Iran and Israel. Meanwhile, OPEC+ agreed to increase targets by 188,000 bpd from July. Oil prices rose on Monday amid heightened tensions in the…
Trump's market sway keeps investors guessing, from oil to bonds
President Donald Trump's comments and policy signals have become a powerful force in financial markets, repeatedly moving prices across oil, bonds, currencies and stocks, The Wall Street Journal reported Saturday. The dynamic was on display last…
McDonald's employee rushed to hospital after co-worker 'threw hot oil over him
A MCDONALD'S worker was rushed to hospital with second-degree burns across his face and body after a coworker doused him in boiling oil, it has been reported. Jacob Smith, 20, suffered harrowing injuries on his face, neck, right arm and back, and…
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