Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Use £5bn oil and gas revenues to fund Acorn carbon capture - SNP
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 UK Government must use £5.1 billion in forecast…
Stock Futures Higher, Oil Lower as Investors Return to Risk
Stock futures rose and Treasury yields eased, as falling oil prices encouraged investors to make a cautious return to risk after last week's tech selloff. Nasdaq futures rose 0.7%, while futures for the S&P 500 and Dow Jones Industrial average were…
Use £5bn oil and gas revenues to fund Acorn carbon capture - SNP
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The UK Government must use £5.1 billion…
Oil Update - October 2026
I am raising the midpoint of my range from last month by $15 per barrel. Absent kinetic conflict or a resolution to open the Strait of Hormuz, I expect WTI oil prices to range between $97.50 and $112.50 per barrel for October. US midterm elections…
Nine big oil firms on track to share more than £95bn profit two quarters in a row
The world's biggest oil companies are on track to amass profits of more than $95bn (£71bn) in the third quarter as the war in the Middle East drives up the price of fossil fuels. The windfall war profits have sparked calls for oil…
Oil prices decline on hopes for progress on Iran war efforts - TT
Oil storage tanks. (Nick Oxford/Bloomberg) Oil prices declined on hopes for progress in diplomatic efforts between the U.S. and Iran. Iran's top diplomat said in an interview shared on his Telegram channel over the weekend that Iranian negotiators…
Big Oil's spending caution speaks louder than its profits
Big Oil is reaping near record cash windfalls from the eight-month-old Iran war, but Western energy producers' reluctance to ramp up spending reveals persistent doubts about the industry's long-term outlook. SCROLL TO CONTINUE WITH CONTENT BP…
Venezuela's oil buildout faces worker shortage
A shortage of oil and gas workers in Venezuela is holding up investment and frustrating Washington's plans to tame soaring fuel prices. Decades of mismanagement and corruption have hollowed out Venezuela's oil industry, while a government crackdown…
Oil Slides on Hopes Iran Strikes Could Be Avoided
Oil prices fell after a report that President Trump could favor diplomacy over renewed strikes on Iran. According to Axios, Trump spoke to Israeli Prime Minister Benjamin Netanyahu, and conveyed that he wanted to let negotiations play out. Energy…
Ukraine defies Trump again as major Russian oil site burns after drone blitz
A major Russian oil hub has been attacked by drones for the fourth time in one month, despite Trump's call for Ukraine to stop its attacks on energy facilities. The strike took place in the Samara region of southwestern Russia in the early hours of…
Treasury yields mixed as oil prices tumble ahead of the midterms
U.S. Treasury yields were mixed early Monday as investors gear up for another busy week of economic data and corporate earnings, as well as the midterm elections. The 10-year Treasury was down by 1 basis point in early trade, last seen at 4.914%.
Ukraine defies Trump to resume attacks on Russian oil refineries
Ukraine has resumed its attacks on Russian oil refineries in defiance of pressure from Donald Trump ahead of the US midterm elections, with a ceasefire in the occupied town of Oleshky due to end late on Sunday. Russian state media said on Sunday…
View: Resilience of Gulf oil infrastructure has its limits
The drums of war are beating again, and the oil-exporting states are bracing “for the worst,” as the UAE's presidential advisor Anwar Gargash recently put it. Eight months into the US-Iran war, one lesson is clear: There is no amount…
Use £5bn oil and gas revenues to fund Acorn carbon capture - SNP
The UK Government must use £5.1 billion in forecast oil and gas tax receipts over the next year to fund the Acorn carbon capture project, the SNP has said. The project in Aberdeenshire was due to receive £200 million in grant funding…
Goldman Hikes Oil-Price Forecasts on 'Substantial' Supply Risks
Goldman Sachs Group Inc. raised oil-price forecasts for the year-end and 2027 on elevated risks to supplies, joining other banks in hiking their outlooks after months of war in the Middle East. Brent is now seen at $105 a barrel in December, up…
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