Oil Industry News
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Energy Up Slightly, Sector Lags Oil Spike - Energy Roundup
Shares of energy companies rose slightly, but did not track a historic spike in oil prices. Oil futures jumped 12% to $90.90 a barrel in New York due to fears that the Strait of Hormuz, a key shipping lane for global oil supplies, would remain…
'We Have An Emergency': Newsom's Climate Obsession Could Wreak Havoc California's Oil Industry
The oil-and-gas industry is sounding the alarm over a tightening of California's cap-and-invest program, warning that stricter emissions caps could drive up gasoline prices and jeopardize the viability of in-state refining. The California Air…
Bessent Says US May 'Unsanction' More Russian Oil Amid Energy Crisis
Yesterday, when discussing the stunning development that Russia would be granted a one-month license to sell (formerly) sanctioned oil to india while the Straits of Hormuz are blocked, we said that this step is just the start, and precited…
Kuwait cuts oil production as Strait of Hormuz closure disrupts global energy market
Kuwait said it is cutting oil production due to 'Iranian threats against safe passage of ships through the Strait of Hormuz.' Kuwait is the fifth-largest oil producer in OPEC. It produced approximately 2.6 million barrels per day in January. Oil…
Video: How the War in Iran Is Disrupting the World's Oil
new video loaded: How the War in Iran Is Disrupting the World's Oil…
Home heating oil: 'Most of my pension has gone on home heating oil
Many households across Northern Ireland have been hit by the huge price increase in home heating oil, with one pensioner spending almost all of her monthly pension on one refill. Global oil prices have risen after Iran launched strikes across the…
Oil and gas prices rise rapidly as Iran war escalates
NEW YORK (AP) — The price of oil surged higher and showed no signs of halting its rapid climb a week after the U.S. and Israel launched major attacks on Iran that escalated into a war in the Middle East. The conflict, in which nearly every…
White House official suggests Iran's oil can alleviate supply crisis
Iran 's vast oil reserves could play a key role in easing global pressure as oil and gas prices start to rise sharply worldwide following the closure of the Strait of Hormuz this week. 'Ultimately, we're not going to have to worry about these…
Spike in oil prices triggers talk of an economic doomsday scenario
U.S. and global benchmark prices on Friday tallied their largest weekly gains on record. Another week like that would lift prices very close to their all-time highs — and invite talk of an economic doomsday. The price of oil can have…
Bloomberg This Weekend: Oil Rises Amid Iran Conflict
President Donald Trump demanded Iran capitulate in the war's seventh day, suggesting a longer timeframe for the conflict even amid energy-market tumult and worries about whether the US has the military stockpiles to carry on the fight indefinitely.
Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU rose 2.39% to C$63.37 Friday, in what proved to be an otherwise all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 1.57% to 33,083.72. Tourmaline Oil Corp.
Oil prices rocket in biggest weekly gain since 2020
Warnings have been issued that oil and gas production in the Gulf could be entirely halted in the coming days, amidst escalating conflict in the Middle East. Benchmark Brent crude prices have surged by over 25 per cent this week, reaching $94 a…
Trump: Progress in Iran, Oil Soars, Noem on Cartels, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
Oil set to hit $100 a barrel in days and even reach $150, experts say
Oil prices are expected to surge past $100 a barrel within days and could even reach $150 if the war in the Middle East drags on, energy experts have warned. The alarm comes as the crucial Strait of Hormuz remains effectively closed to oil tankers…
Imperial Oil Ltd. stock outperforms market despite losses on the day
Shares of Imperial Oil Ltd. IMO dropped 1.22% to C$160.62 Friday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 1.57% to 33,083.72. Imperial Oil Ltd. closed 5.0%…
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