Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Crude oil from Azerbaijan arrives in Japan
A tanker carrying some 45,000 kiloliters of crude oil from Azerbaijan has arrived at an Eneos refinery in Yokohama, officials at the energy company said Tuesday. The shipment of Central Asian oil arrived in Japan for the first time as the country…
Analysts See Withdrawal in U.S. Crude Oil Stockpiles
The average estimate of nine analysts and traders sees commercial crude stocks down by 2.3 million barrels at 454.9 million barrels in the week ended May 8. Eight expect a withdrawal and one predicts an increase. Expectations range from a build of…
Bond Market Ditches Warsh Trade as Oil Surges
This article is for subscribers only. Not long ago, the US Treasury market thought it had the Kevin Warsh trade figured out: Simply bet on the multiple interest rate cuts that the nominee had been expected to deliver if he got the job to lead the…
Global energy crisis highlights meagre oil buffers in developing world
As the blockade of the Strait of Hormuz drives the worst energy crunch in modern history, leading governments to scramble to unload their emergency oil stockpiles, developing countries are among the least prepared to mitigate the shock. Although…
Gold dips as oil gains add to rate uncertainty
Gold prices were under pressure on Tuesday as fading hopes for an Iran peace deal pushed oil prices higher, adding to concerns about inflation and the prospect of higher global interest rates. SCROLL TO CONTINUE WITH CONTENT Spot gold fell 1…
Oil shortages are even hitting colored snack bags
First, fuel prices surged. Now, even potato chips aren't safe from the global petrochemical squeeze. In Japan, snack giant Calbee — known for its popular potato chips — is switching some colored snack packaging to black and white…
The US and China Are Saving Oil From a Crisis
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley looks at the factors helping to shield the oil market from the effects of the Iran war and the risks ahead. Ever…
Stock Futures Retreat From Highs as CPI Data Looms, Oil Climbs
Traders pulled back from risk assets ahead of a crucial inflation reading, with a torrid run in US equities running out of steam as worsening tensions between Washington and Iran sent oil prices higher. Contracts on the S&P 500 Index dropped 0.4%…
Oil crunch drains colour from 1 of Japan's favourite snacks
One of Japan 's best-loved snack brands is switching to monochrome packaging for a number of its products due to a shortage of naphtha – a crude-oil derivative used in petrochemicals and printing inks – caused by the closure of the…
Tech Futures Fall On $100 Oil, South Korea; CPI Inflation Rises
Futures for the Dow Jones industrial average edged lower while those for other major indexes saw bigger losses early Tuesday as crude oil prices jumped above $100 a barrel. Meanwhile, South Korea's comments on artificial intelligence profits hit…
Bond Market's Warsh Trade Falls Apart as Oil Fans Inflation Risk
Not long ago, the Treasury market thought it had the Kevin Warsh trade figured out: Simply bet on the multiple interest rate cuts that the nominee had been expected to deliver if he got the job to lead the Federal Reserve. Now, with days left…
Trump 'seriously considering' plan to make Venezuela and its $40 trillion in oil permanent part of USA
President Donald Trump is eyeing oil-rich Venezuela as a potential 51st state as officials continue to court oil companies for investments in the South American country following the U.S. intervention that removed President Nicolas Maduro from…
Kazakh CPC Oil Exports to Drop as Europe Faces Tight Supplies
Kazakhstan will cut crude exports from a key Russian Black Sea port next month at a time when European refineries are already grappling with an unprecedented supply disruption from the Middle East. Maintenance at the Kashagan oil field means that…
Farmers buoyed as CDB favours replacing palm oil with coconut oil for supply through Public Distribution System
Coconut farmers in Coimbatore-Tiruppur region are buoyed by the Central Government's consideration of coconut oil as a healthier option to palm oil for distribution through public distribution outlets. Coconut crop is a major source of livelihood…
India has 2 months stock of fuel, but...: Oil minister
With two months of fuel stockpiles, India faces no supply concerns despite disruptions to global energy flows, Oil Minister Hardeep Singh Puri on Tuesday said, while warning that state-run fuel retailers face losses of as much as Rs 1 lakh crore in…
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