The Latest Breaking News from crude oil

The Egyptian Cabinet approved on Wednesday 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company, and a number of international companies. Under the deals, the Egyptian General Petroleum Corporation will be responsible for oil exploration in areas west of Wadi Natrun, east of Siwa,…

While the interest-rate hikes by the Fed have weighed heavily on market sentiments and the growth prospects of an otherwise robust economy, stocks such as Select Energy Services (WTTR), Overseas Shipholding Group (OSG), and Adams Resources & Energy (AE) have shown solid momentum lately and are well-positioned to maintain the…

Uganda is commissioning the first of its four planned oil drilling rigs and starts drilling the first production well this Tuesday – a key milestone for the country, as Kampala races to meet its target of first crude oil output in 2025.

U.S. Treasury Secretary Janet Yellen expressed confidence that restrictions on Russian sales of crude oil can be expanded to refined petroleum products in February, while acknowledging that the task will be more complicated.

Given the inflationary environment, the Fed’s committed efforts in bringing inflation down to its 2% target will likely keep the market volatile in the near term. Therefore, Overseas Shipholding Group (OSG) and Adams Resources & Energy (AE), which have maintained strong momentum despite market fluctuations, could be ideal buys now.…

With the sustained energy demand and an anticipated surge in oil prices, energy stocks will likely outperform the broader market again this year. Therefore, it seems wise to invest in fundamentally strong energy stocks Marathon Petroleum (MPC), Valero Energy (VLO), and Adams Resources & Energy (AE) to garner solid returns.…

Bulgaria is looking to revive a trans-Balkan oil pipeline project to secure non-Russian crude oil supplies for its only oil refinery on the Black Sea, controlled by Russia's Lukoil, President Rumen Radev said on Tuesday.

Russia expects Western sanctions to have a significant impact on its oil products exports and therefore its production, but that will likely leave more crude oil to sell, a senior Russian source with detailed knowledge of the outlook told Reuters.

Vladimir Putin is starting to see the main financing mechanism for his war in Ukraine dry up.

The Group of Seven (G7) coalition will seek to set two price caps on Russian refined products in February, one for products trading at a premium to crude oil and the other for those trading at a discount, a G7 official said.

The Environmental Protection Agency announced Monday that it has reached an agreement with a pipeline operator to clean up a spill that dumped 14,000 bathtubs’ worth of crude oil into a rural Kansas creek