Oil Industry News
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Broader Crude Oil Price Weakness Hurt Kosmos Energy Ltd. (KOS) in Q2
Hotchkis & Wiley, an investment management company, released its second-quarter 2026 investor letter for the 'Hotchkis & Wiley Mid-Cap Value Fund.' A copy of the letter can be downloaded here. Equity markets posted strong returns in the second…
North Sea oil is a litmus test for Burnham | Letters
John Barstow says oil expansion is a necessity, while David Parker wonders if the prime minister will protect the planet or the fossil fuel industry North Sea oil expansion is a necessity (Burnham risks first revolt as PM over apparent support for…
US stock market hits record highs as AI profits pile and oil prices ease
The US stock market rallied to records on Tuesday as profits kept piling up for companies and as oil prices eased. The S&P 500 shot up 1.8%, and the main measure of Wall Street's health topped its prior all-time high set a couple months ago. The…
Oil prices fall on hopes Strait of Hormuz could reopen
Michael Race Business reporter, New York Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway. US Secretary of State Marco Rubio and Treasury Secretary…
Trump blames Big Oil as gas prices threaten Republican midterm hopes
President Donald Trump is demanding that oil companies lower gasoline prices after reporting strong profits during the Iran war, arguing that energy giants have benefited from conditions that continue to strain American consumers. Industry experts…
Oil profits boom on 'war bonus' as Trump blasts energy giants for 'making too much money' - business live
Oil prices are now falling again after the US treasury secretary Scott Bessent said that a deal could be struck “today or tomorrow” to reopen the strait of Hormuz. Speaking to CNBC, Bessent said: We are in talks with…
Alberta's Pipeline Buildout to Spur Push for Light Oil Drilling
Canada's drive to expand oil export pipelines is set to push demand for ultralight crude, and both domestic suppliers and importers are gearing up to take advantage of an anticipated rise in prices. New pipeline space, including Alberta's planned…
Miners prosper while oil drops on new Middle East peace hopes
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 FTSE 100 made steady progress on Tuesday as oil…
Top India Oil, Gas Producer Beats Profit Estimate on Price Surge
Oil and Natural Gas Corp. 's first-quarter profit exceeded estimates as higher crude oil and natural gas prices, along with a weaker rupee, offset lower production. The New Delhi-based explorer's net income more than doubled in the quarter ended…
Revealed: major oil firms make $93bn profits amid war and climate crisis
Eight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Iran conflict sent energy prices soaring and the emissions-fuelled climate crisis caused deadly heatwaves. The windfall war profits have…
Emerging Markets Stay Under Pressure as Iran Impasse Lifts Oil
Emerging-market stocks and currencies stayed under pressure as the lack of progress on US-Iran talks lifted oil prices back above $86 a barrel. MSCI's emerging FX gauge ticked lower versus the dollar for a second day, with the currencies of oil…
Oil Falls Amid Prospects for Reopening of Strait of Hormuz
2340 GMT — Oil falls in early Asian trade amid prospects for reopening of the Strait of Hormuz, a key waterway through which one-fifth of the world's oil is transported. Iran appears to be “nearing an understanding with Oman over the…
Bankrupt Britain needs to tap into North Sea oil gold, says Donald Trump
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. Donald Trump has said he thinks he and Andy Burnham are…
Trump slams oil companies for 'making too much money' from his war on Iran
Donald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran. Brent crude had been trading at about $70 (£52) a barrel before the first US-Israeli…
Big oil companies post banner profits on Iran war costs - TT
Fuel prices at a QT gasoline station in Greenwood Village, Colo. (David Zalubowski/AP) Major oil companies reported sharply higher profits as the Iran conflict disrupted energy markets, with BP and Saudi Aramco posting large earnings increases.
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