Oil Industry News
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Energy Up on Oil Rally, Conoco Earnings -- Energy Roundup
Shares of energy companies rose after Conoco earnings and an up-tick in oil prices. Shares of Houston oil major ConocoPhillips rose as the exploration-and-production giant posted second-quarter adjusted earnings ahead of Wall Street targets. Oil…
Oil Industry Launches Lobbying Blitz To Block Trump Export Restrictions On Exxon (NYSE: XOM) And Chevron (NYSE: CVX)
The U.S. oil industry has shifted into emergency mode, mounting an aggressive campaign to prevent the Trump administration from restricting fuel exports to foreign countries. Industry executives say the business of exporting fuel has boomed since…
Ukraine says two Russian oil refineries hit, as Moscow targets energy sites
Ukraine has said it conducted multiple overnight strikes deep inside Russia, hitting two oil refineries, as well as patrol boats and other vessels in the Black Sea. President Volodymyr Zelensky said the Bashneft-Novoil and Slavneft-Yanos refineries…
Crude oil supplies at 45-year low
U.S. crude oil supplies are at a 45-year low as the Iran war continues to tarnish strategic reserves. Bank of America Global Research data shows that the level of the U.S. Strategic Petroleum Reserve is at its lowest level since 1983, leaving the…
Trump faces calls for windfall tax on big oil's profits from Iran war
Donald Trump's statement that oil companies have made “too much money” from the Iran war has angered environmentalists, who say that his policies were designed to benefit those very corporations. If he really believes his own claims…
Oil Rises Amid Supply-Disruption Concerns
2343 GMT — Oil rises in early Asian trade amid concerns over supply disruptions in the Middle East. The “Iranian-backed Houthi militant group said they had conducted a ‘large-scale' attack on forces from Yemen 's Saudi…
Oil Rises on Doubts That Strait of Hormuz Can Reopen Soon
Arab mediators working on a deal with Tehran to reopen the Strait of Hormuz said they fear Iran's diplomats, who are under pressure from the country's hard-liners, lack the clout to guarantee compliance even if an agreement is reached. Mediators…
Oil Ticks Higher, U.S. Futures Steady Ahead of Jobs Report
U.S. futures were mixed in muted early European trade. Investors stood their ground ahead of a hotly anticipated jobs report and potential progress in Middle East talks. Brent crude oil rose above $83 a barrel, up around 0.9%, amid the continued…
Asian Stocks to Slip on Iran Concerns, Oil Climbs: Markets Wrap
Stocks in Asia looked set to edge lower Friday after a resurgence in geopolitical tensions jolted global markets, sending equities and bonds lower as oil jumped, reviving inflation concerns ahead of the US jobs report. Equity-index futures pointed…
China's Crude Oil Purchases Rebound in July From Near-Decade Low
China's crude oil imports rebounded last month from a near-decade low, after flows through the Strait of Hormuz picked up and refiners boosted purchases from nations outside the Middle East including Russia. Pipeline and seaborne flows rose to…
Current price of oil as of Aug. 7, 2026
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Asian Government Bonds Fall Amid Rising Oil Prices
0115 GMT — Asian government bonds fall in price terms amid rising oil prices, which typically spur inflation and could prompt central banks to raise rates further. Global yields are moving higher, supported by firmer oil prices as optimism…
Ukraine hits two oil refineries deep in Russian territory
Ukraine said it has hit two oil refineries in multiple strikes deep inside Russia with patrol boats and other vessels in the Black Sea also hit. President Volodymyr Zelensky said the Bashneft-Novoil and Slavneft-Yanos refineries were struck in the…
Chevron's Kazakh Oil Field Accused of Waste-Storage Violation
The Chevron Corp. -led Tengiz oil field, the largest in Kazakhstan, has been accused by regional authorities of storing waste at the site without an appropriate permit. An unscheduled inspection of the Tengizchevroil LLP project by the Department…
Sensex, Nifty Fall: Crude Oil Prices, FII Outflows Impact Indian Stock Market
Indian stock markets, including the Sensex and Nifty, experienced a downturn in early trade, primarily driven by a significant rise in crude oil prices and a cautious global market sentiment. Indian benchmark indices, Sensex and Nifty, saw declines…
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