Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
US Stock Futures Slip on Alphabet, Oil Advances: Markets Wrap
US equity-index futures declined after Alphabet Inc.'s spending plans intensified concerns about the payoff from the industry's aggressive artificial intelligence buildout. Oil extended its rally. Contracts for the tech-heavy Nasdaq 100 Index fell…
Oil Nears $100 Again As Iran-Backed Houthis Target Red Sea Shipping
Global oil prices soared above $98 per barrel on Thursday as Iran-backed Houthi militants targeted Saudi Arabian tankers in the Red Sea, marking the latest escalation in the U.S.-Iran war as Secretary of State Marco Rubio said Tehran is not ready…
Oil prices soar above $98 - TT
(Brandon Bell/Getty Images/Bloomberg) The intensifying war with Iran has pushed Brent crude sharply higher. Rising oil prices are weighing on stocks because they make consumers more cautious about spending while raising costs for most businesses…
Oil is surging again as market pros warn of 'cascading damage' to energy markets
It was only a few weeks ago that markets considered the worst-case scenario for oil to be off the table. The US and Iran had reached a preliminary peace agreement. Oil prices, the key flashpoint of the Iran war, were falling rapidly. All seemed to…
Oil Tops $98 a Barrel, Tech Earnings Worry Markets
U.S. stock futures fell in early European trade as the global oil benchmark topped $98 a barrel after another night of escalating tensions in the Gulf. American forces struck Iran for a 12th consecutive day, while Houthi rebels said they hit two…
Vulnerable energy markets to raise oil above $100 - analyst (CL1:COM:Commodity)
Global energy (XLE), (AMLP), (VDE), (XOP) markets are more vulnerable than they were earlier this year, and continued regional escalations could push crude oil prices (CL1:COM) above $100 per barrel within weeks, according to Arne Rasmussen, chief…
Oil price surge reignites inflation worries as ECB holds rates
LONDON, July 23 (Reuters) - A spike in oil prices toward $100 a barrel drove Europe's government borrowing costs to long-term highs on Thursday as reignited inflation worries prompted some hawkish signals from the European Central Bank as it held…
Houthis attack two Saudi tankers, with oil prices jumping in response
WTI Crude prices jumped to $90 per barrel from $84.91 before the Houthis attacked one of the largest oil-producing countries in the world. One week ago, prices sat around $80 per barrel, already spiked from the lower prices the energy markets had…
Global Bond Yields Jump as Oil Prices Surge, Inflation Fears Mount
High oil prices raise concerns about the risk of rising inflation and the possibility that central banks might have to raise interest rates in response. 'Developments in the energy market demonstrate how quickly geopolitical risks can translate…
Wall Street indexes dip with technology earnings, rising oil in focus
The Nasdaq led Wall Street lower on Wednesday with a mixed performance from technology stocks, as investors waited for key earnings reports to gauge the health of a market rally fed by enthusiasm for artificial intelligence. SCROLL TO CONTINUE WITH…
Mideast oil producers step up plans to bypass the Strait of Hormuz
Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran's chokehold over the strait drags on and oil prices…
Oil nears $100 a barrel after Houthis claim strikes on Saudi Arabian tankers
Oil prices climbed to close to $100 a barrel on Thursday after Yemen's Houthi militants claimed attacks on two Saudi Arabian tankers in the Red Sea. West Texas Intermediate's contract for September delivery CL.1 CLU26 advanced almost 4% to $89.97 a…
Treasury yields follow oil prices higher as traders await latest jobs data
U.S. Treasury yields advanced on Wednesday, following oil prices higher, as traders await jobless claims data due later in the session. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing —…
Oil Climbs as Escalating Conflict Boosts Supply-Disruption Concerns
Oil prices rose in Asia on Thursday as a broadening Middle East conflict boosts concerns over supply disruptions. American forces launched a 12th straight day of strikes against targets in Iran, U.S. Central Command said Wednesday. “The…
Iran war latest: Houthis strike Saudi oil tankers as Tehran warns of retaliation
The US House of Representatives has approved a defense policy bill that includes President Donald Trump's request for a substantial $1.15 trillion in national security spending and proposes renaming the Department of Defense to the Department of…
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