Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Ukraine-Russia latest: Zelensky proposes energy ceasefire as oil prices soar
President Volodymyr Zelensky has called for an “energy ceasefire” with Russia that would halt all strikes on infrastructure. Speaking to Ukrainska Pravda, the Ukrainian president said the country was “ready for a ceasefire for…
Starmer to meet energy bosses after oil prices soar to $115 a barrel
Sir Keir Starmer is set to meet energy bosses in Downing Street on Monday, after barrels of brent crude oil soared to $115 a barrel. The prime minister is set to meet senior executives from the energy, shipping and financial services, including…
Trump says he could 'take Iran's oil
Donald Trump has said that he could 'take the oil in Iran ' and boasted that he can invade Kharg Island 'easily'. It comes as the number of US troops in the Middle East swelled to 50,000, roughly 10,000 more than usual. Tehran has promised to set…
Price of oil hits $116 a barrel after Trump says he wants to 'take the oil in Iran'
The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “ take the oil in Iran ”, sending Asian stock markets tumbling. Brent crude, the international benchmark for oil, rose by 2% in early trading on…
Trump escalates threats on Iran's oil, infrastructure
Trump told the Financial Times on Sunday that his “preference would be to take the oil” in Iran and compared the situation to his takeover of Venezuela's oil earlier this year. “Maybe we take Kharg Island, maybe we don't. We…
Trump says 'my favorite thing is to take the oil in Iran'
President Trump on Sunday suggested his priority in Iran is taking control of the country's oil industry as he weighs next steps one month into the war he launched with Israel. “To be honest with you, my favorite thing is to take the oil in…
How Trump and the oil markets move in sync: A tango in five charts
Jemma Crew, Tommy Lumby and Natalie Sherman, business reporters It can be hard to pin down what is guiding Donald Trump a month into US and Israel's programme of strikes on Iran. But it is clear he has an eye on the oil markets. A word - or social…
Trump states 'preference' to take oil from Iran like with Venezuela
The president's remarks came hours before he said he would be open to obliterating Iran's critical infrastructure if the country does not swiftly agree to a U.S. peace proposal and open the Strait of Hormuz, which is a critical waterway for…
What was the 1970s oil crisis, and are we heading for something worse?
James Pozarik/Liaison via Getty Images The month-long closure of a crucial waterway for the global energy supply has sparked warnings the world is heading for problems worse than those caused by the 1970s oil crisis. Lars Jensen, a shipping expert…
The renewable energy source homeowners are turning to as oil and gas prices soar
British households are increasingly turning to solar power, with E.On reporting a significant sales surge, as Middle East conflict prompts a re-evaluation of fossil fuel reliance. The electricity supplier revealed a 62% increase in solar panel…
JGB Futures Edge Lower Amid Rising Oil Prices
0013 GMT — JGB futures edge lower in the morning Tokyo session amid rising oil prices. The summary of opinions at the Bank of Japan's March meeting suggests discussion was skewed to concern over the risk of higher oil prices driving faster…
Oil tanker ablaze after projectile strike off Dubai coast
An oil tanker is ablaze after being struck by a projectile off the coast of Dubai. United Kingdom Maritime Trade Operations (UKMTO) reported on Monday, March 30 that an unknown projectile had struck their tanker starboard causing a fire to the…
Oil rises above $115 and Asia stocks slide as Iran war escalates
Global oil prices jumped and stocks fell sharply on Monday morning in Asia as the US-Israel war with Iran escalates. The price of Brent crude rose by more than 3% to above $115 (£86.77) a barrel, while US-traded oil climbed to $103 after…
Watch Global Oil Market in for a Shock: Fahmy
Global Oil Market in for a Shock: Fahmy Former US Associate Deputy Energy Secretary Randa Fahmy warns that the ongoing Middle East conflict could extend for a prolonged period. She speaks after Iran-backed Houthi militants in Yemen entered the…
Oil Market Faces Shock as War Widens, Ex-US Energy Official Says
The global oil market is “in for a shock” as the Middle East conflict will likely extend for a prolonged period with Iran leveraging control of the Strait of Hormuz, said Randa Fahmy, a former US associate deputy energy secretary. The…
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