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 Down With Oil Futures - Energy Roundup
Shares of energy companies fell alongside oil futures, which hit their lowest level since midApril amid anticipation of a peace deal between the U.S. and Iran. Oil fell 5.6% to $88.68 a barrel in New York. Brent crude futures, the globally tracked…
Oil Investments to Drop for Third Year on War Shock, IEA Says
Global investments in oil projects are due to fall for the third year in a row, as the supply shock from the Middle East conflict shifts priorities to new trade routes and other energy sources. Despite higher oil prices, spending on oil projects is…
The race for oil: will Jamaica be the next country to drill and what does that mean for its green pledges?
Jamaica is closer than ever to drilling for oil. Tests on samples from the seabed off the Caribbean island's south coast earlier this year identified hydrocarbons, which suggest the presence of crude oil below ground. Jamaica imports all its fuel…
Oil Prices Climb After U.S. Strikes on Iran - TT
(Wavebreakmedia Ltd/Thinkstock) Global stocks declined as U.S. defensive strikes on Iran and ongoing uncertainty about a potential deal dampened investor sentiment. Crude rebounded after a sharp drop the day before, with prices still moderated from…
Oil markets are betting on a swift end to the Iran war. Investors may regret it
Traders are grappling with huge swings in oil prices against a backdrop of conflicting rhetoric from Washington and Tehran. The U.S. and Iran exchanged retaliatory strikes this week, despite oil markets pricing in an easing of hostilities. A swift…
The Lag Between an Iran Deal and Lower Oil Prices
This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here. For months, Donald Trump has been desperate for…
Consumer Cos Up as Oil Declines - Consumer Roundup
Consumer companies rallied as a plunge in oil prices eased inflation fears. Oil futures dropped more than 5% in New York, closing at their lowest level since midApril. The increase in gasoline prices to over $4.50 a gallon has weighed on…
China's Declining Appetite for Oil Laid Bare by Iran War
Chinese imports of crude oil are set to drop to levels not seen since the pandemic, as the war in Iran reveals the extent to which demand has disappeared and may not be coming back. Inbound shipments could fall to an average of 10.9 million barrels…
Oil Prices Fall Sharply As Traders Eye Progress In U.S.-Iran Talks
Storage tanks at an oil refinery in Yokohama, Kanagawa prefecture, Japan. (Photo: Yuichi Yamazaki) Oil prices fell on Wednesday as traders eyed signs of progress in the latest round of talks between the U.S. and Iran. At 8:57am EDT, the Brent…
Oil Gains on Possible Technical Correction
0026 GMT — Oil gains in early Asian trade on a possible technical correction after settling lower on Wednesday. Oil prices have remained high in recent weeks, amid fears of supply restrictions, says XS.com's Antonio Di Giacomo in an email.
'We have plenty': Here's the real story behind the record drop in America's oil reserves
The U.S. strategic crude stockpiles are dwindling at a record pace and are approaching their lowest in more than four decades — but concerns about slimmer reserves may be overblown. Steep drawdowns in recent weeks from the Strategic…
Anti-Islam candidate declares victory in GOP primary for Texas oil agency
Wright faced off against French on Tuesday in a tight runoff election after neither of the candidates was able to secure more than 50% of the vote during the March primary. At the time, Wright secured 32.1% of the vote, while French received…
I Think Oil Is About To Go Vertical (SPX)
Brent at $93 reflects market optimism for a swift resolution, but structural realities suggest otherwise. Core ideological differences between the US and Iran make a clean deal highly improbable in the near term. Current oil prices do not align…
FTSE 100 edges up and oil sinks amid peace optimism
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 nudged higher on Wednesday and the oil price…
The High-Seas Black Market That Keeps Iran's Illicit Oil Flowing
EASTERN OUTER PORT LIMITS—In this nautical no-man's-land 45 miles off the coast of Malaysia, tankers laden with sanctioned Iranian oil sit low in the water, waiting to offload their cargo to vessels bound for Chinese refineries. They lower…
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