Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
City of Los Angeles looking to phase out urban oil drilling
Los Angeles is taking a major step toward reinstating a citywide phase-out of urban oil drilling, with city leaders saying it's a fight that has been years in the making. Neighbors near oil drilling say they face noise, odors, truck traffic, health…
Trump touts economy, oil prices in Pennsylvania stop
President Trump touted affordability, investments and jobs Tuesday as he hit the campaign trail once again, this time in key swing state Pennsylvania. The president visited the Mack Truck facility in Macungie, a part of Pennsylvania's 7th…
Iran rushes to woo Asia's largest oil importers after U.S. waiver
Iran is racing to court some of Asia's largest oil buyers as a 60-day U.S. sanctions waiver takes effect, a temporary lifeline that should allow Tehran to resume exports and begin clearing a backlog of cargoes on the water, even as peace talks…
North Sea Crude Weakens as Mideast Oil Floods Back to Market
Key indicators in the North Sea crude market are showing signs of weakness as a wave of Middle Eastern oil heads to Europe, fueling concerns about a supply glut following the reopening of the Strait of Hormuz. Forties crude, one of the six grades…
Oil prices hit lows not seen since early March on US-Iran peace talk progress
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. Oil prices have fallen back further towards levels seen…
Mexico eyes sending oil after Cuba's major liberalization
“The mechanism would be through private companies that have permits to transport fuel to Cuba,” Sheinbaum said, according to the Associated Press. “We hope that commercial transport can resume soon.” Cuba has been facing…
Stocks hit by Fed rate reality check; oil slips
LONDON, June 23 (Reuters) - Global stocks fell on Tuesday, led by broad-based declines in technology stocks, as investors expect the Federal Reserve to take more aggressive action to tackle inflation, even after a 16% drop in oil prices…
The End of the Oil Shock Doesn't Mean More Fuel for the U.S. Stock Market
A tech selloff Tuesday is dragging the S&P 500 into the red for its second straight day, even as front-month Brent crude futures are on pace for their lowest close since the start of the war. The moves suggest the tenuous wind-down of the conflict…
Trump: Iran 'Fully' Agreed to Nuclear Inspections, Oil Traffic
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
Oil prices fall to early March levels as US-Iran peace talks progress
Oil prices have continued their descent towards levels last observed before the Iran war, following the US decision to waive sanctions on Iranian oil amidst progress in peace negotiations. Brent crude saw a nearly 2 per cent drop in morning trading…
Here's how much Iran could make from US oil sanctions waiver
The United States has temporarily lifted sanctions against Iranian oil exports amid progress in negotiations toward ending the nearly 4-month-war that has wrought chaos on the international energy market. The decision marks a reversal of the…
Bloomberg Daybreak Asia: Iran Oil Waiver
Bloomberg Daybreak Asia Podcast • Browse all episodes Business and finance news from the Asia-Pacific. The US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two…
Oil Prices Continue to Fall on Hopes for Iran Deal - TT
A small motorboat passes anchored vessels in the Strait of Hormuz off Bandar Abbas, Iran, on June 17. (Amirhosein Khorgooi/ISNA via AP) Oil prices continue downward trend on hopes for an end to the Iran war. Iran maintains that it has closed the…
Iran's Race to Secure New Oil Buyers Won't Be Easy
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, Asia Oil Team Leader Serene Cheong looks at some of the hurdles Iran will face in marketing its crude. The US decision to authorize…
Swiss group supports Gulf oil and gas repairs
Before any rebuilding can begin, the Strait of Hormuz must be made safe for navigation. Sea mines need to be cleared before container ships and tankers can resume moving goods in and out of the Persian Gulf. For economist and energy market analyst…
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