Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Ecopetrol Completes $1.2 Billion Brazilian Oil Deal
Colombia's state-controlled oil company Ecopetrol (NYSE: EC) has completed its roughly $1.2 billion acquisition of a controlling 51% stake in Brazil's Brava Energia, significantly expanding its position in one of Latin America's most important…
Energy Stocks Soar to Record as Oil Rises on Trump's Hard Line
Energy stocks are closing in on record levels reached earlier this year amid the Middle East war as investors see diminishing prospects for a near-term ceasefire that could ease the standoff in the crucial Strait of Hormuz. The S&P 500 Energy…
Venezuela Signs Deals With SLB, Hunt in Push to Boost Oil Output
Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production. The agreements are with oilfield-services giant SLB Ltd. and independent producer…
U.S. stocks fall as rising bond yields, oil prices spook investors
Aug. 18 (UPI) -- Stocks fell on all three major U.S. indices Tuesday as investors were spooked by elevated bond yields and the prospect of higher oil prices as the war between the United States and Iran drags on without apparent resolution. Tech…
Brazil's President Lula hails oil discovery near Amazon river
Brazilian President Luiz Inácio Lula da Silva has hailed the discovery of oil near the mouth of the Amazon river. Speaking after the find was announced by Brazil's state-run oil company Petrobras, he said it could be 'a passport to the…
How Gulf Oil Is Escaping the Strait of Hormuz
Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world's biggest oil chokepoint creates new risks. VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot VLCC prices are ballooning out of control (once…
Tech selloff pulls Wall Street to two-week lows as oil and yields climb
Wall Street's main indexes hit their lowest in two weeks on Tuesday, pressured by losses in heavyweight technology stocks, while fading hopes for a U.S.-Iran peace deal sustained gains in oil prices and kept government bond yields at multi-year…
Baghdad approves tool to export crude oil
Iraq's cabinet approved mechanisms for exporting Iraqi crude through specialized international and local companies and via multiple export outlets, the government said on Tuesday. The contracts under the new mechanism will run for three months…
Trump hits pause on Canada tariffs threat, and hints at revival of Keystone XL oil pipeline project
Canada has temporarily avoided a bruising 50% US tariff, reaching a Tuesday-evening agreement with Trump administration officials hours before a hike that would have affected $20bn worth of goods was set to take effect. Donald Trump posted late on…
FTSE 100 holds modest gains with oil stocks up amid rising prices
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 outperformed European peers on Tuesday, with…
Oil Rises Amid Growing Concerns Over Supply Disruptions
2351 GMT — Oil rises in Asian early trade amid growing concerns over supply disruptions. Iran fired two ballistic missiles toward the Strait of Hormuz on Tuesday, triggering air defenses in the U.A.E., according to that country's Ministry of…
Oil prices gain after climbing 2.7% the day before - TT
A man checks gas prices at a gas station in Buffalo Grove, Ill. (Nam Y. Huh/AP/file) Oil prices have crept higher after a brief respite last month driven by hopes for an end to the war with Iran. The price for a barrel of Brent crude gained 2.7% on…
BP Joins Venezuelan Oil Trade to Challenge Trafigura and Vitol
BP Plc has become the latest foreign company to begin trading Venezuelan oil since the US removed former President Nicolás Maduro, following in the footsteps of Trafigura Group and Vitol Group. The tanker Monte Lema finished loading fuel oil…
Wall Street indexes slip as oil prices rise, retail results awaited
Wall Street's three major indexes fell on Monday as investors waited for quarterly reports from large retailers to provide insights into U.S. consumer spending, while oil prices rose as the U.S. and Iran appeared no closer to a deal. SCROLL TO…
AI Trading And Research Tools May Be Amplifying Oil Market Complacency (NYSEARCA:SPY)
Complacency in equity and energy markets persists despite severe oil supply disruptions from Iran and Ukraine conflicts, with S&P 500 near record highs. AI-driven trading and research reinforce institutional (EIA & IEA) narratives, downplaying…
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