Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The Trump Corruption Tax on the Oil Industry
May 13, 2026 Dean Baker Since Trump began his war on Iran, there have been a number of occasions where the price of oil futures tumbles just before Trump issues one of his “peace is at hand” proclamations on Truth Social. These drops…
Energy Up Slightly as Oil Futures Hold Above $100/Barrel -- Energy Roundup
Shares of energy companies ticked up as oil futures held above $100-a-barrel in New York. Recent reports of dwindling stockpiles suggest the continued closure of the Strait of Hormuz is pushing the market toward a tipping point, said Hamad Hussain…
The King's speech contained a huge bit of news for the North Sea oil industry
Proponents argue for a scrapping of the windfall tax on fossil fuel companies to open up investment, and for new licences to be granted for untapped fields. Opponents say a 'just transition' away from what is a finite resource is needed to avoid…
Oil Prices Drive Inflation Above Wages: A Blip, Not A Trend
Man pumping gasoline, checking prices. The increase in consumer prices exceeded wage growth over the past 12 months, with near panic from some reporters. The numbers show wages rose 3.6% but consumer prices increased by 3.8%. This disparity is a…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slipped 1.54% to C$65.39 Wednesday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.73% to 34,041.43. Tourmaline Oil Corp.
Imperial Oil Ltd. stock falls Wednesday, underperforms market
Shares of Imperial Oil Ltd. IMO shed 1.16% to C$180.35 Wednesday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.73% to 34,041.43. Imperial Oil Ltd. closed 2.9%…
S-Oil unveils data center cooling solution in Seoul
May 13 (Asia Today) -- S-Oil said Wednesday it has unveiled an immersion cooling solution for data centers with Global Standard Technology at HVAC Korea 2026 in Seoul. HVAC Korea showcasing all categories of HVAC systems-including heating…
Watch Oil Inventories Falling at 'Record Pace' Amid Hormuz Disruption, IEA's Toril Bosoni Says
IEA's Bosoni Says Oil Inventories Falling at 'Record Pace' International Energy Agency oil industry and markets head Toril Bosoni discusses the outlook for oil supplies and prices amid the ongoing disruption in the Strait of Hormuz. Inventories are…
Watch Oil Inventories Falling at Record Pace, Warns IEA | The Pulse 05/13/2026
Oil Inventories Falling at Record Pace, Warns IEA | The Pulse 05/13/2026 'The Pulse With Francine Lacqua' is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London…
Supply shock: The Iran war will change the oil market forever
You have reached your maximum number of saved items. Remove items from your saved list to add more. There's an increasing imbalance of global oil supply and demand as the war in the Middle East drags on. With global oil inventories depleting at a…
Iran War Is Going to Make Oil Changes More Expensive - TT
Workers inspect vehicles at an oil change location in Indianapolis. (Luke Sharrett/Bloomberg) The Iran war is throwing a niche corner of the oil market into disarray as fallout from scrambled supply chains for the commodity reaches all the way to…
How Long Can the US Be the Oil Supplier of Last Resort?
What do the Federal Reserve and the US oil industry have in common? In today's war-torn market, both are the supplier of last resort. One provides dollars; the other barrels. But that's where the similarities end. The central bank can print the…
How the US and China's oil markets are 'shielding' the world economy from spiraling prices
Oil prices are high, but they haven't quite gone parabolic s ince the Iran war began. Morgan Stanley strategists said there's structural support from the US and China that's helped anchor oil prices and prevent them from rising to levels predicted…
Japan to procure 70% of its oil for June from outside Middle East
Japan is expected to secure over 70% of its crude oil procurement in June from sources other than the Middle East, Prime Minister Sanae Takaichi said Tuesday. At a meeting of related ministers on the day, Takaichi instructed industry minister…
The global oil crisis is proving the case for sustainable aviation
As the conflict in Iran strains the world's oil supplies, a lot of attention has focused on gasoline: Average gas prices have increased more than a dollar a gallon since the war began, exceeding $4 a gallon for the first time in four years. But…
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