Oil Industry News
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Energy Up With Oil Futures on Hormuz Optimism - Energy Roundup
Shares of energy companies ticked up alongside oil futures. Oil futures rose 11 cents to $68.69 a barrel but retreated for the fourth consecutive week amid signs that Middle East energy exports were returning to prewar levels. The U.S. and Oman are…
Natural gas closes in on oil's top energy perch - TT
The gap between oil and gas has narrowed in the past decade as the shale revolution supercharged natural gas output. (Mark Felix/Bloomberg) Natural gas is poised to surpass petroleum as the top U.S. energy source by 2030 after the gap nearly closed…
Tourmaline Oil Corp. stock rises Thursday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.69% higher to C$59.71 Thursday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.31% to 34,966.67. Tourmaline Oil Corp.
Edible oil industry body IVPA inks MoU with China's trade body CFNA for bilateral cooperation
Edible oil industry body IVPA has signed an MoU with China Chamber of Commerce of Foodstuffs and Native Produce (CFNA) to strengthen cooperation between the companies of the two countries. In a statement on Thursday, Indian Vegetable oil Producers'…
Evolution of Scotland's oil and gas sector is creating positive energy
ONE of Scotland's proudest industries, oil and gas, has undergone a highly publicised transformation in recent years; the UK now imports over 42% of its energy needs, up from around 30% in 2019. A leading UK wealth planning business, TrinityBridge…
Oil Falls as Supply-Disruption Concerns Continue to Ease
2343 GMT — Oil falls in early trade as concerns over supply disruptions in the Middle East continue to ease. “While the U.S.-Iran process remains fragile and disputes over [Strait of] Hormuz administration and transit fees persist, we…
Alarm after herring gulls found covered in oil in Peel
A series of herring gulls have been found doused in oil in the west of the Isle of Man, prompting concerns from conservationists. Thirteen birds were discovered around Mill Road in Peel coated in an unknown orange substance and 'smelling like fish…
The backlash to Iranian oil sanctions relief misses the point
The Trump administration is currently coming under fire for their decision to temporarily lift sanctions on Iranian oil, but the proposed alternatives have become detached from reality. The vocal opponents are treating the decision as though…
Oil prices are now back to prewar levels, but the market is not. Here's what could happen next.
Oil prices have finally fallen back to pre-Iran war levels — but the crude market is far from seeing a normalization of shipping, oil supplies and demand that such a big retreat implies. A faster-than-expected reopening of the Strait of…
Citi Says Oil May Slump to $60 as the Hormuz Shock Fades Away
Brent oil could extend declines to $60 a barrel by year-end as disruptions in the Strait of Hormuz ease, according to Citigroup Inc., adding to a chorus of bearish outlooks for the global crude market. “Fundamentals are rapidly reasserting…
NYMEX Overview: Crude Futures Fall on Optimism Over Recovering Middle East Oil Flows -- OPIS
London-based September ICE Brent crude futures were down about 90cts to $70.65/bbl and October Brent was around 85cts lower to $71.15/bbl. The price differential between WTI and Brent widened slightly to around $4/bbl, which was still sharply lower…
Watch Prasad: Oil Flow is Up But Market Uncertainty Remains
Prasad: Oil Flow is Up But Market Uncertainty Remains Oil extended its drop for a third day, as flows through the Strait of Hormuz climbed. Aathira Prasad, Director of Macroeconomics at Nasser Saidi & Associates, spoke to Bloomberg's Abeer Abu Omar…
India Plans to Expand Oil Reserves to Guard Against Price Spikes
India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I'm not worried about it, but I have to prepare for it,” Oil…
Oil up slightly ahead of long US weekend as peace efforts hold
Oil prices rose slightly on Friday before a long holiday weekend in the U.S. as wary optimism held over efforts to make peace in the Middle East between the United States and Iran. Brent futures were up 17 cents, or 0.24%, to $72.10 a barrel as of…
Canada's Carney Taps State-Owned Firm to Build Oil Pipeline to Serve Asia
Trans Mountain Corp., a pipeline operator owned by the Canadian government, has been tapped to build a new export conduit connecting Alberta's oil sands to a Vancouver-area port, Prime Minister Mark Carney said. The proposed 1 million-barrel-a-day…
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