Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Asia 'scraping the bottom of the barrel' as Red Sea oil blockade worsens energy crisis
Governments in Asia are scrambling to avoid their second major energy crisis in six months, as another maritime chokepoint in the Middle East faces a violent blockade, leaving only the Suez canal completely open for the free movement of gulf oil.
Tokyo to boost financial support for overseas oil pipeline investments
The government is planning to expand its financial support to Japanese companies investing in pipeline projects overseas including the Middle East, as part of efforts to strengthen alternative oil and gas transportation routes in the Gulf region to…
Stocks jump as US-Iran pause sees oil price fall
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 closed higher in London on Monday as…
Houthis say they targeted Saudi east-west oil transport
July 27 (Reuters) - Yemen's Iran-aligned Houthis said on Monday they targeted a number of sensitive crude oil supply and transport sites linking eastern Saudi Arabia to the critical Red Sea oil export hub of Yanbu. Saudi…
Oil price dives as US and Iran pause attacks
The price of oil sank more than 9% on Monday on hopes that a pause in attacks between US and Iran could help lead to a resolution to the conflict. Brent crude, the global benchmark for oil, dipped below $88 a barrel, marking a sharp turnaround from…
Oil plunges, stocks 'n' bonds shrug
ORLANDO, Florida, July 27 (Reuters) - Oil prices tumbled on Monday as the U.S. and Iran swapped attacks on each other for dialogue, while Wall Street and Treasuries traded in much narrower ranges as investors looked ahead to a raft of big tech…
Oil Extends Decline, Asian Stocks Set for Losses: Markets Wrap
Asian equities declined as renewed concerns over artificial-intelligence spending fueled another selloff in chipmakers. MSCI's Asia Pacific equity gauge fell 1.9%, with chip majors SK Hynix Inc. and Samsung Electronics Co. contributing the most to…
Stocks jump as US-Iran pause sees oil price fall
The FTSE 100 closed higher in London on Monday as investors welcomed a temporary pause in hostilities between the US and Iran, which helped drive the oil price sharply lower. The FTSE 100 index closed up 45.52 points, 0.4%, at 10,781.75. The FTSE…
Oil Falls Amid Ongoing Pause in U.S.-Iran Hostilities
2335 GMT — Oil falls in the early Asian trade amid the continuing pause in U.S.- Iran hostilities. The “U.S. paused daily strikes on Iran for a 3rd consecutive night and Iran continued to signal it was refraining from any retaliatory…
Kazakhstan's daily oil output halves after export terminal closure, source says
Kazakhstan, among the world's 10 biggest oil producers, has more than halved its daily oil output after the closure of its main exporting terminal in Russia's Black Sea over drone attacks, an industry source said on Monday. SCROLL TO CONTINUE WITH…
Australia to Study Building First Oil Refinery Since the Sixties
Australian federal and state governments and industrial company Perdaman Group will study the feasibility of a new oil refinery in a move to rebuild domestic capacity after the Iran war highlighted the nation's dependence on imported fuels. Prime…
Oil prices tumble as pause in U.S.-Iran fighting sparks market relief
Oil prices tumbled on Monday and the U.S. stock market surged amid a pause in fighting between the U.S. and Iran, with U.S. Ambassador to the United Nations Mike Waltz saying Sunday on 'Face the Nation with Margaret Brennan' that the break is aimed…
Gov't Reviews Oil Supply with Refiners, Shippers amid Middle East Conflict
The government has confirmed that July and August crude oil arrivals exceed 100 percent of last year's average, while secured September volumes stand above 90 percent. The Ministry of Trade, Industry and Resources held a meeting with the oil…
North Sea oil billionaire and philanthropist Sir Ian Wood dies aged 84
Billionaire Sir Ian Wood, who made his fortune in the North Sea oil industry with the Wood Group company, has died at the age of 84. Sir Ian was one of Scotland's wealthiest people. He took over the family business in 1967, and turned the Aberdeen…
Live: ASX to open lower as the price of oil plunges
ASX 200 Futures: -0.3% to 8,818 points Australian dollar: +0.01% to 69.90 US cents Wall Street: S&P 500 +0.02%, Dow +0.5% Nasdaq -0.3% Europe: Dax +1.0%, FTSE +0.4%, Eurostoxx +0.02% Spot gold: +1.0% to $US4,092/ounce Oil Brent Crude: -9.3% to…
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