Oil Industry News
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Bessent Says US Is 'Suffocating' Iran With Oil Industry Creaking
Treasury Secretary Scott Bessent said the US is “suffocating” Iran with economic and financial pressure, suggesting that the rulers in Tehran will eventually buckle. “We are running a marathon over the past 12 months and now we…
Analysis: Why Iran's Oil Industry Is Increasingly Threatened By US Blockade
Even as Iran squeezes world energy supplies with its chokehold on the Strait of Hormuz, its own oil industry is increasingly being threatened by an American blockade. With no way to export the oil it is pumping out and diminishing room to store it…
Oil shock will hit Asia harder than the 1970s
The dizzying changes wrought by energy shocks are only ever seen in the rearview mirror. When the 1973 and 1979 oil crises first swept the world, analysts assumed the future would be business as usual. Crude demand from Western Europe would remain…
Why the UAE's OPEC exit matters for oil markets | CNN Business
The UAE's exit from OPEC and OPEC+ raises questions about oil supply, market stability and the future influence of the producers' group.
Canada's Oil Firms Look to Scrap Carbon Tax Tied to New Pipeline
Canada's oil industry is pushing back hard on proposals to impose a higher carbon tax, arguing the policy adds costs at a time when the world needs more secure and affordable sources of energy. Prime Minister Mark Carney and Alberta Premier…
Oil Prices Climb as Iran Weighs Latest US Offer on Hormuz - TT
Cargo ships near the Strait of Hormuz, as viewed from a rocky shoreline near Khor Fakkan, United Arab Emirates, on May 1. (Fatima Shbair/AP) Shares were mixed in Europe and Asia on May 4, with big gains for computer chipmakers and other tech stocks…
'Misplaced euphoria': Markets are sleepwalking into a recession amid Iran war oil price shock
Energy costs have soared since the Iran war started, and rising stock markets suggest investors are underplaying the effect of elevated costs. Market pros fear “a big recession”, as chemicals, food production and airlines are impacted…
Stocks Whipsaw With Oil on Renewed Mideast Tension
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US Futures Gain, Oil Falls on Signs of Iran Talks: Markets Wrap
US stock futures rose and oil fell as improving risk sentiment was buoyed by prospects of shipping resuming through the Strait of Hormuz and progress toward a US-Iran deal. S&P 500 Index futures gained 0.2% after the underlying gauge closed at a…
U.S. Stock Futures Up, Oil Rises Amid Plan to Unblock Hormuz
Investors aren't yet sure what to make of President Trump's plan to guide commercial ships out of the Strait of Hormuz. Oil prices whipsawed after Trump's announcement before moving higher, as traders tried to gauge whether the plan would restart…
Asian markets are mixed and oil is steady after Wall Street hits records
Shares were mixed in Asia on Monday after U.S. stocks set more records, powered by strong profits for major companies. Oil prices held steady after U.S. President Donald Trump said the U.S. would help ships leave the Strait of Hormuz, starting on…
Wall Street dips, oil prices rise on reports of strike on US Navy vessel near Iran
Wall Street dipped and oil prices jumped early on Monday on conflicting reports of a strike by Iran on a US Navy vessel outside the Strait of Hormuz. Futures for the S&P 500 were down 0.2 per cent before the opening bell, while futures for the Dow…
EDITORIAL: Another ballot attack on oil and gas
Since the passage of Senate Bill 19-181 in 2019, Colorado has been turning the screws on oil and gas development with the nation's strictest industry regulations. Apparently for some, that isn't enough. The activist environmental group Conservation…
Commodities: Oil Steadier As Market Digests Trump's Hormuz Plan
It was a volatile week in the oil market amid growing concerns about ongoing disruptions to oil flows from the Persian Gulf and the expiration of the ICE Brent Jun-26 contract on Thursday. The market is steadier at the start of the new trading…
Ukraine war briefing: Strikes on Russia's Primorsk oil port and ships
Ukraine on Sunday launched a wave of strikes against Russian oil targets, hitting the key port of Primorsk on the Baltic Sea and three ships that Ukraine alleges were illegally used to transport Russian crude. A night-time drone strike started a…
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