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Oil prices retreat to pre-war levels as vital shipping route reopens
FILE PHOTO - A sign showing fuel prices is displayed at a gas station. (is associated with: «Oil prices retreat to pre-war levels as vital…
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Oil
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Ukraine renews attacks on Russian oil facilities
Ukraine dealt another blow to Russia's oil industry overnight, launching drones at a storage depot by the southern city of Taganrog on the…
News
Fuel tankers regain access to Irish oil refinery
Fuel trucks have regained access to an oil refinery in the Republic of Ireland that had been subjected to a days-long blockade. Earlier on…
News
Oil crosses $110 a barrel after gas field strike
Oil prices rose above $110 (£82.78) a barrel after Iranian media reported an airstrike hitting a facility on the world's largest natural…
Business
Aramco CEO warns of 'catastrophic consequences' for oil markets
Saudi Aramco’s CEO warned of “catastrophic consequences” for the world economy if oil exports through the Strait of Hormuz continue to be…
Business
Higher oil prices not boosting Houston economy yet due to conflict with Iran, expert says
Here in the "Energy Capital of the World", you likely know that when oil prices are high, it can be beneficial for our local economy, even…
Business
Oil price at two-year high after Qatar warns all Gulf production could stop within days
Oil prices have risen to their highest level in more than two years, after Qatar's energy minister warned he expects all oil and gas…
Business
Oil prices slide 2% to two-week low on talk of progress in US-Iran talks
Investors are closely watching US-Iran relations as any escalation or conflict could lead to Iran closing the Strait of Hormuz Oil prices…
Business
Oil prices settle slightly higher
Oil prices settled marginally higher on Friday (Feb 13) after data showed an overall slowdown in US inflation, helping offset supply…
Business
TotalEnergies halves buybacks as low oil, gas prices weigh on profits
It echoes similar moves by its peers – BP has completely suspended buybacks, and Equinor has reduced them by 70% TotalEnergies will halve…
Business
Oil prices climb on worries of possible Iran-US conflict
Oil prices settled higher on Friday (Feb 6), reversing earlier losses as traders worried that this week’s talks between the US and Iran…
Business
Oil prices climb 3% as market awaits US-Iran talks
Opec members Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq export most of their crude via the Strait of Hormuz, mainly to…
News
Opec+ agrees to keep oil output unchanged as Iran tensions boost prices
They will raise production quotas by about 2.9 million barrels per day from April till December 2025, roughly 3% of global demand.…
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Trump welcomes China, India investment in Venezuela oil
President Donald Trump said on Saturday (Jan 31) he welcomed investment by China and India in Venezuela’s oil industry. “China is welcome…
Business
Oil hovers near six-month high as investors track US-Iran tensions
Oil prices dipped a few cents per barrel on Friday (Jan 30), consolidating recent gains and holding near six-month highs, supported by…
Business
ExxonMobil beats Wall Street targets for Q4 profit with help from lower-cost oil production
ExxonMobil beat Wall Street targets in fourth-quarter earnings reported on Friday (Jan 30), with lower-cost oil production in the Permian…
Business
Chevron amasses largest fleet in almost a year to ship Venezuelan oil
The US has also enlisted traders Trafigura Group and Vitol Group to help sell as much as 50 million barrels of oil Chevron has assembled…
Business
Oil holds onto gains as Iran keeps investors on edge
Oil prices extended gains on Monday after climbing more than 2 per cent in the previous session, as tensions between the US and Iran kept…
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Vitol and Trafigura – traders at the heart of Trump’s Venezuela oil grab
The companies’ special licences to ship still-sanctioned barrels have given them a head start in a potentially lucrative trade US…
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Rob Hirst: Legendary Drummer of Midnight Oil Dies Aged 70 After Long Fight with Pancreatic Cancer
The global music world is mourning the loss of legendary Midnight Oil drummer, Rob Hirst, who has died at 70 after a nearly three-year…
Business
Venezuela has received US$300 million in funds from oil sales, acting president says
VENEZUELA’S interim president Delcy Rodriguez said on Tuesday that the country has received US$300 million from oil sales, the first…
News
Oil firmer as ebbing Iranian protests lower chance of US attack
Oil prices were up slightly on Monday, after the previous session’s rise, as Iran’s deadly crackdown on protests quelled civil unrest,…
Business
International oil companies push for quick reforms in Venezuela to give them control over oil exports
The companies are also seeking to remove extra taxes introduced by the government Oil executives and lawyers for international oil…
Business
Venezuelan banks will get US$300 million of oil money to sell on exchange market: sources
FOUR Venezuelan banks were notified this week by the country’s government that they will split US$300 million of oil revenues deposited in…