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The Latest Breaking News from Oil

Crude Prices Slump on OPEC+ Plans to Boost Oil Production

Oct WTI crude oil (CLV24 ) Friday closed down -2.36 (-3.11%), and Oct RBOB gasoline (RBV24 ) closed down -1.48 (-0.70%). Crude oil and gasoline prices Friday fell sharply. Friday's rally in the dollar index to a 1-1/2 week high weighed on energy prices. Crude also came under pressure Friday...

Barchart

Crude Prices Tumble as OPEC+ May Proceed With Production Hikes

Oct WTI crude oil (CLV24 ) today is down -2.10 (-2.77%), and Oct RBOB gasoline (RBV24 ) is down -1.79 (-0.85%). Crude oil and gasoline prices today are trading lower. Today's rally in the dollar index to a 1-1/2 week high weighed on energy prices. Crude also came under pressure...

Barchart

Venezuela Hit By Nationwide Power Outage

A blackout left most of Venezuela without power Friday in what authorities blamed on sabotage of the national electrical grid -- the latest crisis to hit the oil-rich country after a disputed presidential election.

International Business Times

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Chilling video shows Houthi rebels blowing up tanker threatening huge Red Sea oil spill

United Nations has warned any oil spill from the tanker could devastate the coral reefs and wildlife around the Red Sea

Evening Standard

Gavin Newsom's 'Price Gouging' Shtick Is Running on Empty

Gas prices in California are exceptionally high because of the state's high taxes and anti-oil regulations, not because gas station owners there are greedier.

Reason

3 Cheap Energy Stocks for Value Investors

As energy demand remains strong, here are three value picks from the sector for long-term investors.

Barchart

Libya’s central bank chief flees country over militia threats: Report

Tripoli-based Presidential Council appoints new board of directors, with banking operations suspended amid upheaval.

Al Jazeera

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Shell to cut hundreds of jobs in oil and gas exploration operations

Reduction of about a fifth of workforce in two subdivisions part of plan to slash up to $3bn in costs by end of 2025

The Guardian - UK

Ecuador Begins Dismantling Oil Infrastructure In Yasuni National Park

Ecuador begins dismantling oil infrastructure in Yasuni National Park to comply with court order, balancing environmental conservation and economic conside...

Top News

Harris Says In First Interview US Ready To Turn Page On Trump

The 59-year-old Democrat insisted on CNN that she would be tough on illegal immigration and support controversial oil and gas fracking -- while sticking to her liberal background by pledging a fairer economy.

International Business Times

Ecuador starts dismantling Yasuni National Park oil block two days before court deadline

Ecuador’s Ministry for Energy and Mines says it has begun to dismantle infrastructure on a controversial oil drilling block in Yasuni National Park, home to the Waorani Indigenous people

The Independent UK

What if Big Oil championed – and profited from – the green transition? Here’s how it could work

Like the petroleum industry itself, households are heavily invested in existing transport technologies. Getting oil and gas companies – and consumers – to switch to zero-emissions transport is a huge challenge.

The Conversation

Crude Closes Higher on Economic Optimism and Prospects for Tighter Global Oil Supplies

Oct WTI crude oil (CLV24 ) Thursday closed up +1.39 (+1.87%), and Oct RBOB gasoline (RBV24 ) closed up +4.04 (+1.95%). Crude oil and gasoline prices settled moderately higher Thursday on signs of strength in the US economy that supports energy demand. Crude also moved higher as supply disruptions in...

Barchart

Houthis release footage of fighters boarding Greek oil tanker in Red Sea

Video appears to show a series of explosions on the vessel, amid fears of a potential major oil spill.

Al Jazeera

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Evening Standard

You’ve been sleeping on the latest beauty trend: astrology

From face oils to candles, the beauty industry has started taking inspiration from the stars

Top News

Houthi Rebels Sabotage Greek Tanker In Red Sea

Houthi rebels sabotage Greek tanker Sounion, risking major oil spill in Red Sea. International concern over environmental impact.

The Independent UK

Yemen's Houthi rebel video shows they planted bombs on tanker now threatening Red Sea oil spill

Yemen’s Houthi rebels have released footage showing that they boarded and intentionally set explosives aboard a Greek-flagged tanker that was abandoned after they repeatedly attacked it, putting the Red Sea at risk of a major oil spill

Barchart

Crude Rallies on Global Energy Demand Optimism and Supply Disruptions in Libya

Oct WTI crude oil (CLV24 ) today is up +1.83 (+2.46%), and Oct RBOB gasoline (RBV24 ) is up +3.69 (+1.78%). Crude oil and gasoline prices are sharply higher today on signs of strength in the US economy that supports energy demand. Crude is also rallying as supply disruptions in...

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The Independent UK

Malaysia beefs up search for Indian tourist who fell into sinkhole a week ago

The search for an Indian tourist who was swallowed by a sinkhole in Malaysia’s capital has entered a seventh day, with the operation hampered by strong undercurrent flows and worries about soil instability after a second sinkhole emerged nearby

The National (Scotland)

Calls for Rosebank and Jackdaw licences to be revoked as legal defence dropped

THE UK Government must revoke the licences for the Rosebank and Jackdaw oil fields after opting not to defend legal cases against them, the Scottish…

The Guardian - UK

Ed Miliband’s withdrawal of legal backing puts UK oil and gas projects in doubt

Government says it will not challenge reviews of approval given to controversial Jackdaw and Rosebank fields

The Independent UK

Government drops legal defence for UK’s largest untapped oil and gas fields

However licences for drilling at the two sites will not be withdrawn

The Guardian - US

US leads wealthy countries spending billions of public money on unproven ‘climate solutions’

Exclusive: Over $12bn in subsidies awarded for technologies like carbon capture experts call ‘colossal waste of money’

The Guardian - US

How Exxon chases billions in US subsidies for a ‘climate solution’ that helps it drill more oil

Climate experts raise red flags as oil giant spends millions lobbying while touting ‘underperforming’ carbon capture

The Conversation

How drone attacks are changing the rules and the costs of the Ukraine war

Ukraine has unveiled a new long-range weapon, a mix of drone and missile technology that Kyiv believes will significantly boost its ability to combat Russian military attacks.

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