The Latest Breaking News from Oil

Pre-open movers

The Saudi Shura Council approved new laws regulating the energy supply system, real estate contributions, and the sale and lease of real estate projects. The energy supply system regulation aims to allocate all types of energy to its consumers in electricity, crude oil refining, petrochemical production, water desalination, industry, mining,…

Gas and oil prices are heading in the right direction, finally. But the reasons why might be no cause for celebration.

Asian shares are mostly higher after a wobbly day on Wall Street as markets cooled off following a rare winning week

The Group of Seven economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday, aiming to deplete Moscow's war chest.

Oil supply issues and the possibility of a price cap on Russian energy exports today ensured no let-up in inflationary pressures.

Asian markets mostly fell Tuesday as investors struggled to maintain a recent rally while weighing central banks' inflation-fighting rate hikes and the possibility of a recession. Renewed concerns about thinning supplies and rising demand also helped push oil even higher, after enjoying a big bounce Monday, said AFP. Shares rallied…

A Sri Lankan government minister was in Qatar on Tuesday and another will travel to Russia at the weekend in search of energy deals to alleviate a severe fuel shortage that is crippling the economy of the island nation and forcing many schools to close.

NATO leaders will formally invite Finland and Sweden to join the alliance Wednesday after the two Nordic countries reached an agreement with Turkey, NATO chief Jens Stoltenberg said Tuesday. Turkish President Recep Tayyip Erdogan’s office said Helsinki and Stockholm agreed “to cooperate fully with Turkey in its fight” against the…