Topic
oil
60 stories related to this topic, newest first.
middleeasteye.netfinance3 hrs ago
Oil Rises Above $80 After U.S. Airstrikes and Shipping Attacks
WTI crude traded above $80 a barrel after four straight sessions of gains. U.S. airstrikes and a tanker disablement followed attacks on shipping in the Strait of Hormuz.
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asiaone.comfinance3 hrs ago
Ukraine refinery strikes cut Russian crude processing to lowest since 2005, prompting Moscow export ban
Ukrainian drone attacks since March have hit 24 of Russia's 34 major refineries. Early July processing fell to 3.91 million barrels per day, prompting Moscow to ban gasoline, jet fuel and diesel exports.
wwd.comfinance8 hrs ago
Middle Eastern oil producers seek Japanese support for Hormuz bypass pipelines
Saudi Arabia and the UAE have asked Japan to join or back plans to expand oil pipelines that would avoid the Strait of Hormuz. The request was conveyed by the chairman of one of Japan's largest refining companies.
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axios.comfinance11 hrs ago
Russian Crude Exports Rise to 4.13 Million Barrels Daily but Revenues Fall
Ukraine strikes have cut Russian refining capacity to 3.91 million barrels per day. Exports reached a four-year high while revenues fell due to lower prices and delays.
Semaforworld12 hrs ago
Dangote Refinery Shifts Fuel Sales in Nigeria to Dollar Pricing
Africa's largest oil refinery has begun pricing its products in US dollars for sales inside Nigeria. Semafor reported the change reverses a 2024 commitment to use the local naira currency.
asiaone.comfinance17 hrs ago
Brent Crude Futures Curve Returns to Backwardation After Brief Contango
The September Brent contract traded at $85.79 per barrel early Wednesday, about $8 higher than the contract six months later. OilPrice.com reported the futures structure shifted as markets priced renewed Middle East supply risks.
The Guardianfinance19 hrs ago
China GDP Growth Slows to 4.3 Percent in Quarter Ending June
China's economy expanded 4.3 percent in the three months to 30 June, below target and the slowest pace in three and a half years. Thames Water said it holds enough cash to operate until the end of 2026 while markets rose on cooling U.S. inflation data and reduced Middle East tari…
rigzone.comfinance20 hrs ago
Chinese Refinery Throughput Falls in June as Run Rates Drop Below 60 Percent
Refinery runs in China dropped sharply in June amid reduced crude imports and weak domestic demand. Throughput reached 12.47 million barrels per day, the lowest since the start of the Covid pandemic. OilPrice.com reported the figures from official data.
winnipegfreepress.combusiness1 day ago
Canada Unveils Framework for New 1 Million Barrel West Coast Pipeline
Federal and Alberta governments along with five major oil sands producers released a backgrounder Monday outlining commitments for the West Coast Oil Pipeline. The project would add 1 million barrels per day of export capacity to the British Columbia coast. The deal ties pipeline…
pbs.orgworld1 day ago
Iraqi Authorities Seize Over 825 Pounds of Gold and $120 Million in Anti-Corruption Operations
Operations linked to a former oil minister's May arrest yielded more than 825 pounds of gold and over $96 million in funds plus assets. At least 21 people were detained, including officials and parliament members. Prime Minister Ali Al-Zaidi discussed the effort during a July 14…
asiaone.comfinance1 day ago
U.S. Crude Oil Inventories Fall 564,000 Barrels Week Ending July 10
API data showed another decline in U.S. crude stocks last week, with the Strategic Petroleum Reserve dropping to its lowest level in over 43 years. Gasoline inventories also fell while production edged higher.
sana.sybusiness18 hrs agoUpdated
Iraq and Syria Plan to Rebuild Kirkuk-Baniyas Oil Pipeline
The United States backs efforts by Iraq and Syria to rebuild the Kirkuk-Baniyas oil pipeline. The project would carry crude from northern Iraq to Syria’s Mediterranean coast and avoid the Strait of Hormuz. U.S. companies are expected to participate in the work.
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benzinga.comfinance1 day ago
Brent Crude Rises Above $81 per Barrel as Traffic Falls in Strait of Hormuz
@sentdefender reported that Brent crude futures rose above $81 per barrel, their highest level in weeks. The move follows Iranian attacks on shipping, U.S. strikes on Iranian targets, and reinstatement of a U.S. naval blockade. Commercial traffic through the Strait of Hormuz has…
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livemint.comfinance1 day ago
Chinese Refiners Skip Saudi Crude Term Cargoes for August
At least two Chinese refiners have not nominated term crude deliveries from Saudi Arabia for August 2026. Others received no provisional allocations amid lower volumes and Gulf competition.
insightsonindia.comfinance1 day agoUpdated
South Korea's Kospi Falls 8 Percent to 6,886, Halts Trading, Yet Remains 2026's Top Major Index
The benchmark fell sharply on Monday as rising oil prices from Gulf tensions and a selloff in semiconductor stocks weighed on the market.
en.antaranews.comworld1 day ago
Oil Prices Rise as US-Iran Conflict Disrupts Strait of Hormuz Shipping
U.S. benchmark WTI crude traded at about $79 per barrel Tuesday after rising from $74 at the Monday open. Brent crude reached about $85 per barrel amid attacks on tankers and a sharp drop in crossings.
livemint.comfinance1 day ago
China Crude Oil Imports Fall 41 Percent in June but Stockpiles Prevent Shortages
Official data showed imports at 7.12 million barrels per day, the lowest since October 2016. Refinery run rates also declined amid elevated prices linked to reduced flows through the Strait of Hormuz.
news.sky.compolitics2 days ago
UK Petrol Averages 151.19p per Litre as Oil Prices Rise
Average UK petrol prices reached 151.19p per litre and diesel 164.85p per litre, up 0.05p daily over the past week. The increases follow a 3.4 percent jump in Brent crude to nearly $79 a barrel. More than 10 million motorists are expected to travel as schools break for summer.
benzinga.comfinance2 days ago
Brent Crude Rises Over 3 Percent to $78.62 a Barrel on July 13
Oil prices climbed in London trading while remaining below $80. European shares traded mixed and Asian markets fell sharply as Opec cut its 2026 demand growth forecast.
asiaone.comfinance2 days ago
Six Tankers Clear Strait of Hormuz in Dark Mode on Sunday
Tanker traffic through the Strait of Hormuz fell sharply on Sunday with all six vessels operating without transponders. Qatar suspended all maritime activity the same day. No ships were observed transiting early Monday via AIS signals.
asiaone.comfinance1 day agoUpdated
Oil Prices Rose and Stocks Fell After U.S. and Iran Strikes
Brent crude gained 4.7 percent to $79.59 a barrel and U.S. crude futures rose 3.4 percent to $73.87 after the latest round of strikes. U.S. Central Command said the Strait of Hormuz remains open despite Iranian state media reports of closure.
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ndtv.comfinance3 days ago
U.S. Remains Top Oil Producer and Consumer as Global Output and Demand Rise
The 2026 Statistical Review of World Energy shows the United States as the top oil producer and consumer. U.S. total liquids output reached 21.1 million barrels per day while consumption hit 19.4 million barrels per day.
ndtv.comfinance4 days ago
Global Oil Demand Projected to Fall in 2026 for First Time Since 2020
The International Energy Agency forecasts a drop of about 1 million barrels per day amid higher prices and supply disruptions from the U.S.-Iran war. May demand fell 5.3 million barrels per day from a year earlier, led by a sharp contraction in China.
theiranproject.comworld4 days ago
China Tells Major Refiners to Keep Fuel Output High Amid Persian Gulf Disruptions
China directed some major refiners to keep fuel output high to protect domestic consumers amid strikes threatening Persian Gulf shipments. The move arrives during recurring regional disruptions and may offset global supply shortfalls, @business reported.
deadline.combusiness5 days ago
Public Sessions on Bay du Nord Oil Project End in St. John's as Environmental Concerns Are Raised
The Canada-Newfoundland and Labrador Offshore Energy Regulator concluded its final public review session on the Bay du Nord project in St. John's on Thursday. Feedback included support for long-term economic benefits alongside concerns over environmental risks. The regulator plan…
moneycontrol.comfinance5 days ago
European Diesel Refining Margins Hit Record Above $60 per Barrel as Fuel Prices Rise
Diesel margins in Europe reached over $60 per barrel on July 9. The NYMEX 3-2-1 crack spread also set a record at $64.58 per barrel on July 8 amid export bans and low inventories.
benzinga.compolitics5 days ago
August WTI Crude Oil Closes Week Up 4.94 Percent Despite OPEC+ Output Rise and U.S. Inventory Build
August WTI crude oil rose $3.38 to $71.84 per barrel for the week ending July 10, 2026. Geopolitical tensions involving Iran outweighed an OPEC+ production increase and a U.S. inventory build.
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thenarwhal.cabusiness6 days ago
Alberta Issues 1,764 Drilling Licenses in First Half of 2026, Busiest Start Since 2014
The province recorded its busiest start to a year since 2014. One-fifth of the permits targeted the Clearwater formation, the highest share on record.
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motherjones.combusiness6 days ago
Energy Substantiation to Debut WTIC Oil Token on LMAX Exchange
The crypto startup plans to launch a token backed by physical West Texas Intermediate crude with added liquidity on LMAX. Fortune reported the project involves a dozen commodities firms and aims for lighter regulation as a spot commodity. Plans include later tokens for Brent crud…
espn.comfinance7 days ago
Saudi Arabia and UAE Cut August Crude Prices to Asia by up to $11 per Barrel
Saudi Arabia reduced its official selling price for crude oil loadings to Asia in August by $11 per barrel from July levels. The cut is the largest month-over-month reduction in two decades. Other Gulf producers are offering deeper discounts with alternative loading points outsid…
The Guardianfinance7 days ago
U.S. Stocks Fall as Iran Strikes Resume and Oil Prices Rise
U.S. stock markets declined Wednesday after renewed U.S. strikes on Iran and comments from President Trump declaring the ceasefire over. Oil prices jumped more than 5 percent while the Federal Reserve signaled possible rate increases.
news.google.comfinance7 days ago
Oil Prices Reach Highest Levels in More Than Two Weeks
Oil prices touched their highest levels in more than two weeks on Wednesday. The move followed a statement by President Donald Trump that he believed the cease-fire with Iran was over. MarketWatch reported the price increase.
middleeasteye.netfinance7 days agoUpdated
Brent Crude Rises Over 3 Percent After U.S. Strikes on Iran and End of Iranian Oil Sanctions Waiver
Oil prices climbed more than 3 percent on Wednesday following U.S. military strikes and the revocation of an Iranian oil sanctions waiver. Asian equity markets closed mixed amid the developments in the Strait of Hormuz.
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business8 days ago
Ukrainian Drone Strike Halts Operations at Russia's Omsk Refinery
A Ukrainian drone attack damaged key units at Gazprom Neft's Omsk refinery, forcing a halt in operations at the 440,000-barrel-per-day facility. The plant is Russia's largest gasoline producer. Fuel shortages have spread to Central Asian countries that depend on Russian supplies.
cnbc.combusiness8 days ago
Saudi Arabia Considers East-West Pipeline Expansion by 2 Million Barrels Daily
Saudi Arabia is evaluating an increase of up to 2 million barrels per day in the capacity of its East-West crude pipeline. The project would route additional volumes from eastern fields to the Red Sea terminal at Yanbu. Preliminary talks have included Kuwait and other neighbors.
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cnbc.combusiness8 days ago
Ugandan Farmers Sue in UK Court to Halt Nearly Completed East Africa Oil Pipeline
A group of Ugandan farmers sued EACOP Ltd in the UK High Court on July 7, 2026, seeking to halt the nearly completed pipeline. The case targets the $5 billion project before it begins operations.
middleeasteye.netfinance8 days ago
Two Saudi crude tankers head toward Strait of Hormuz while most traffic remains blocked after Iranian warnings
Two very large crude carriers owned by Japanese companies are approaching the Strait of Hormuz with 4 million barrels of Saudi oil. The movement follows a partial reopening of the waterway after a mid-June ceasefire between the U.S. and Iran.
rigzone.combusiness8 days agoUpdated
Canada and Alberta Reach Deal for New West Coast Oil Pipeline with Majority Government Ownership
The federal government and Alberta reached an agreement to build a new pipeline estimated at $35.2 billion to $43.7 billion. Governments will hold majority ownership despite an earlier pledge for private financing.
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middleeasteye.netfinance8 days ago
Saudi Arabia Cuts Oil Prices to Asia by Up to $11 per Barrel After Record May Highs
Saudi Arabia reduced its official selling prices for crude oil to Asian customers by as much as $11 per barrel on July 6. Other Gulf exporters made deeper cuts to move stored barrels while Iranian supplies returned to the market. Weak Asian demand has shifted leverage toward buye…
news.google.comfinance8 days ago
India's June fuel use fell 3.7% from May while crude imports hit a record 5 million barrels a day
India's total fuel consumption declined to 19.24 million metric tons in June 2026, down 3.7% from May and 3.1% from June 2025. Gasoline and diesel sales rose year-on-year while crude imports hit a record 5 million barrels per day. OilPrice.com reported the figures from India's oi…
middleeasteye.netfinance9 days ago
Saudi Arabia Lowers July Crude Price for Asian Buyers After Hormuz Flows Resume
Saudi Arabia reduced its key crude oil price for Asian customers on July 6 amid resumed flows through the Strait of Hormuz and higher OPEC+ output.
middleeasteye.netfinance9 days ago
Tanker traffic through Strait of Hormuz rises, with some vessels exiting near Iran and others near Oman
At least six tankers exited the Persian Gulf near Oman on Sunday while eight others made U-turns earlier. Iran announced plans to charge service fees for passage through the strait.
en.antaranews.compolitics9 days ago
Strait of Hormuz reopens after Iran war while OPEC faces Iraq quota clash and UAE exit
The Strait of Hormuz has begun reopening after Iran's closure and a U.S. blockade during the Iran war. OPEC+ approved a modest production increase while Iraq seeks higher quotas.
stockhead.com.aubusiness9 days ago
Six More European Investors Oppose Norway Arctic Drilling Plans
Swedbank Robur Fonder AB, Sarasin & Partners LLP, Ircantec, West Yorkshire Pension Fund, KBI Global Investors and Länsförsäkringar AB joined earlier opponents in urging priority for energy transition over Arctic oil and gas expansion. Norway is lobbying the EU to lift its de fact…
insightsonindia.combusiness9 days ago
South Korean Prosecutors Charge Four Refiners With Colluding on Fuel Prices
All four South Korean refiners face charges over alleged coordination that caused $17 billion in harm. Prosecutors also charged four employees after the February outbreak of war between the United States, Israel and Iran.
theconversation.comfinance10 days ago
Oil Prices Edge Lower After OPEC+ Modest August Output Increase
Oil prices declined after OPEC+ approved a further modest production rise for August. S&P 500 futures held prior gains while traders lowered near-term Fed rate hike odds. South Korea began 24-hour won trading to draw foreign investors ahead of SK Hynix's U.S. listing.
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livemint.comfinance10 days ago
OPEC+ to Raise Output Quotas by 188,000 Barrels per Day in August While Keeping Part of 2023 Cut in Place
Seven core OPEC+ members will add 188,000 barrels per day to production targets starting next month. The step continues five straight months of increases as Brent crude prices sit near $72 a barrel.
Japan Timesbusiness9 days agoUpdated
UAE Restores Pre-War Crude Exports Through Hormuz Before Final US-Iran Deal
The United Arab Emirates restored its crude shipments through the Strait of Hormuz to pre-war volumes by the time the US and Iran signed their interim peace deal. Fortune reported that the UAE used dark transits with tankers leased from Sinokor Group to achieve the recovery. Sino…
Semaforfinance10 days agoUpdated
United Arab Emirates Leaves OPEC+ as Group Continues Phased Reversal of 2023 Output Cut
The United Arab Emirates left OPEC+ in late April to align production with its capacity. Iraq is seeking higher quotas as the remaining core producers prepare to restore the final portion of a 1.65 million barrel-per-day cut.
realitytea.comfinance10 days ago
Six tankers use Oman route in Hormuz while four others switch to Iranian path after weekend U-turns
Six oil and gas freighters navigated close to Oman’s coast on Sunday. Data showed 19 total crossings on Saturday after eight vessels reversed course the prior two days.
forbes.comfinance10 days ago
OPEC+ to Raise Output Quotas by 188,000 Barrels a Day From August After Sharp Production Drop
The group ratified a quota hike during a Sunday video conference after seven members added nearly 800,000 barrels per day since April. Output remains below pre-war levels amid recovering exports through the Strait of Hormuz.
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cnbc.comfinance12 days ago
India Crude Stocks Reach 104 Million Barrels After Record June Imports
India's total crude inventories reached 104 million barrels by the end of June 2026. Imports hit a record 5 million barrels per day that month, with 2.6 million barrels per day sourced from Russia.
bloombergquint.comfinance12 days ago
India and Europe Increase Oil Stockpiles as Prices Fall After Hormuz Closure
Semafor reported that falling oil prices have prompted several nations to increase energy reserves following the Strait of Hormuz closure during the Iran war. India is expanding inventories and storage while analysts urge similar steps for China.
finance12 days ago
Canada Plans Oil Pipeline to Asia to Cut U.S. Reliance
Canada announced plans to build a major oil pipeline aimed at increasing sales to Asia and reducing dependence on the United States. Officials said the project is part of a broader effort to double non-U.S. trade and position the country as an energy superpower.
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bloombergquint.combusiness12 days ago
India Says No Direct Fuel Sales to Russia as Traders Ship Gasoline There
India's oil minister stated on July 3 that refiners are not selling fuel directly to Russia. Industry reports indicate at least 60,000 metric tons of gasoline left India for Russian ports via traders.
dailyalert.orgworld12 days ago
TotalEnergies Offers Millions of Barrels of Iraqi Crude for Prompt Delivery to Asia
TotalEnergies is offering unspecified volumes of Basrah Medium and Basrah Heavy crude for loading from Basrah and delivery to buyers in China, South Korea, and Taiwan this month and next. Traders who received the offers told Bloomberg on Friday that the French company is also see…
bloombergquint.comfinance13 days ago
Oil Prices Hold Near $68 per Barrel as Hormuz Traffic Recovers to About Half Pre-Conflict Levels
Crude oil remained steady near $68 a barrel with tanker traffic through the Strait of Hormuz recovering after an interim U.S.-Iran peace deal. Saudi exports reached about 90 percent of pre-war levels while UBS cut its Brent forecasts.
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cnbc.comfinance13 days ago
U.S. Strategic Petroleum Reserve Falls 5.5 Million Barrels to 1983 Low
U.S. oil stocks in the Strategic Petroleum Reserve declined by 5.5 million barrels last week to 325.7 million barrels. The level marks the lowest since May 1983 and the 13th straight weekly drop.
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theiranproject.comfinance13 days agoUpdated
Saudi Arabia Routes More Crude Through Strait of Hormuz While Also Using Bypass Pipeline
Saudi Arabia has raised crude oil shipments by loading tankers inside the Persian Gulf while also increasing flows through its East-West pipeline. About 10 million barrels cleared the strait in recent days, with multiple supertankers heading to buyers in Asia.
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theiranproject.comfinance14 days ago
Oil Prices Near Pre-War Levels Four Months After US-Israel Strikes on Iran
@AJEnglish reported that oil prices have returned close to pre-conflict levels more than four months after the late February 2026 start of the US-Israel war on Iran. Maritime traffic through the Strait of Hormuz peaked then fell after vessel attacks, while suppliers shifted to pi…
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