Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump floats keeping Iranian oil as conflict rattles energy markets
President Donald Trump said Sunday that the United States could maintain a presence in Iran and retain control of its oil resources, comparing the possibility with Washington's recent energy agreement in Venezuela, Reuters reported. “We'll…
Chinese scientists develop oil refining method that may cut energy use by 90%
Chinese scientists say they have devised a new technique for refining oil that cuts the amount of energy consumed during the process by roughly 90 per cent. If the technology used in the study could be scaled up for industry, it would not only…
Today's oil profits aren't price gouging - but Big Oil needs an ultimatum
If demand for gasoline, diesel, jet fuel, and other refined products holds up while refinery throughput falls, inventories tighten and refining margins soar. That is exactly what has happened. The Gulf Coast 3-2-1 crack spread — the margin…
Rising oil prices create 'huge worry' as winter looms
Thousands of households who rely on heating oil could face a fresh squeeze on their finances this winter as global tensions continue to push up fuel prices, a councillor has warned. Cheryl Cottle-Hunkin, Devon County Council's cabinet member for…
Up 3,600%, this freight fund has posted the biggest gains of all on Iran war oil shock
The Breakwave Tanker Shipping ETF (BWET) is up over 3,600% year to date, according to Morningstar, by far the best performance of any non-levered U.S. fund as the price of transporting oil has soared due to geopolitical shocks. Led by the U.S.-Iran…
4% of global oil supply at risk of being lost as Saudi pipeline outage continues
Saudi Arabia will run out of oil stocks for exports if it doesn't restart its major pipeline to the Red Sea within days, leading to a loss of up to 4% of global supply, Saudi oil buyers and traders said. A further decline in Saudi flows will worsen…
U.S. redirects 100 ships as Iran tensions grip key oil route
The U.S. military said it has redirected 100 commercial vessels over the past 60 days while enforcing a maritime blockade against Iran, underscoring the high-stakes security dynamic in the critical Strait of Hormuz. In a statement released…
Donald Trump: US could stay in Iran and keep oil, like in Venezuela
President Donald Trump suggested on Sunday that the United States could stay in Iran and 'keep the oil,' drawing a parallel with a US push to take control of a fifth of Venezuela's vast oil reserves. On a trip to Ireland for meetings and to watch…
Oil spike puts pressure on airlines and their passengers
The escalation of the US-Iran war, now in its seventh month, is expected to put more upward pressure on airfares, petrol and diesel as the higher cost of fuel filters through the economy. Fears of further oil supply disruptions have deepened after…
Costco Limits Engine Oil Purchases as Prices Climb Thanks To Trump
Published: September 12th, 2026 Costco has begun limiting how much motor oil each member can buy, imposing a two-per-customer, per-week cap on its Kirkland Signature full-synthetic as prices climb alongside a shrinking global supply. Ten quarts of…
New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies
ADEN/DUBAI — Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, adding to concerns about Iran-related threats to energy supplies after Saudi Arabia shut down a vital oil pipeline. The British…
'Cannot claim to be taking climate seriously': Pressure on UK to extract last North Sea oil
Aberdeen: The British North Sea, once a hub for oil and gas drilling, has faced a quarter-century of declining production, depriving communities along a foggy stretch of Scottish coastline of their economic core. Now applications for two new…
China's 70% EV Target Deals Another Blow To Oil Demand
China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels. As of the end of last year, the share of the so-called new…
Saudi oil refinery up in smoke as as huge fire burns amid Houthi strikes
A major oil refinery in Saudi Arabia has gone up in flames as tensions soar in the Middle East. The Yanbu refinery in the city of Yanbu, on the Red Sea coast in western Saudi Arabia, has been pictured with smoke billowing above the facility. Get…
Roast potatoes will be extra crunchy if you ditch oil for 1 better ingredient
You don't need oil or goose fat to make the crunchiest, crispiest roast potatoes at home The changing of the season is just around the corner, which means that roast dinner season is officially upon us. No Sunday roast is complete without all of…
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