Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Bloomberg Surveillance: Market and Oil Outlook
The economy and the markets are 'under surveillance' as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join…
Tourmaline Oil Corp. stock falls Thursday, underperforms market
Shares of Tourmaline Oil Corp. TOU shed 2.98% to C$64.86 Thursday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.37% to 33,856.62. Tourmaline Oil Corp. closed…
DOJ probing trades in oil futures and prediction markets just ahead of Iran war news
The Justice Department and the nation's top commodity market regulator are investigating a series of oil market trades that came just ahead of major policy announcements from President Donald Trump and Iranian officials, according to a source…
Trump's Iran war may stymie climate gains with boost to big oil, experts say
The billions in profits big oil is reaping due to the Iran war may stymie the energy transition, experts and advocates fear, incentivizing oil and gas expansion and boosting the sector's funds for political lobbying. “Windfall profits from…
Gold And Silver Prices Surge As Oil Falls
Gold and silver prices are approaching their highest levels in months, a surge some analysts have attributed to falling oil prices, a softening dollar and hopes the United States and Iran will strike a deal to end the war. Silver prices surged…
US Stock Futures Fall, Oil Climbs on Iran Tensions: Markets Wrap
US stock futures fell in early Friday trading and oil rose as escalating conflict in the Middle East rattled investors and revived concerns about energy supplies. Contracts on the S&P 500 Index declined 0.2%, while those on the tech-heavy Nasdaq…
Outrage as oil giants profit billions from Iran war - The Latest
Shell has made $6.9bn in profits since the Iran war began, cashing in on soaring energy prices. The enormous profits have reignited calls for higher taxes on fossil fuel companies to fund support for those hardest hit by rising costs. Lucy Hough…
US oil blockade on Cuba 'energy starvation': UN experts
'Cuba has been subjected to energy starvation by the United States, a condition in which the lack of fuel cripples the functioning of essential services required for a dignified life,' the experts said in a joint statement. 'This unlawful blockade…
Oil Market Liquidity Dries Up as Traders Sit Out War Volatility
Oil market liquidity has evaporated since the start of the US-Iran war, amplifying price moves in a benchmark seen as a bellwether for the global economy. Total Brent futures open interest, a proxy for money in the market, plunged to the lowest…
Well-oiled diplomacy: Malaysian king visits Moscow as Anwar eyes Russian energy
Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid the Iran war-linked fuel crisis. Sultan Ibrahim landed at Vnukovo-2 International…
Oil Prices Edge Lower
Futures for Brent crude, the international benchmark, slipped 1.2% to $100.06 a barrel, after spending much of the day below $100. The last close that low for Brent was April 21. Though they are significantly lower than the wartime closing high of…
Oil giants accused of raking in more than £26billion worth of 'war profits
Oil giants have raked in the equivalent of £102 in 'war profits' for every UK household in the first three months of this year, research suggests. Analysis by the End Fuel Poverty Coalition found energy firms generated £3billion worth…
5 reasons stocks are rallying in the face of an oil-price shock
U.S. stocks were lower Thursday but still higher for the week, with the S&P 500 on the verge of breaking above 7,400 for the first time ever. The market's rapid comeback from its selloff in March has come as a surprise to some, given that the…
'Why waste a crisis?': AirAsia to launch new airline, defying high oil costs
AirAsia X co-founder Tony Fernandes said he is preparing to launch a new airline, betting that expanding while the aviation industry's being roiled by high oil prices will pay off in the future. The new airline will be announced in the next month…
Shell profits rise as Iran war pushes oil prices higher
Profits at oil giant Shell have risen in the first three months of the year following the sharp increase in oil prices since the beginning of the Iran war. Shell reported profits of $6.92bn (£5.1bn) for the first quarter, which was higher…
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