Fuel & oil news
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Headlines
US Crude Inventories Drop 8.33M Barrels, Losing 52M in 9 Weeks
US crude oil inventories fell by 8.33 million barrels last week, exceeding analyst expectations, extending a nine-week losing streak that has erased 52 million barrels from storage.
Exxon to Supply LNG to Help South Africa Reduce Reliance on Coal
Exxon Mobil has signed a preliminary deal to supply liquefied natural gas to South Africa, aiming to reduce the country's heavy reliance on coal for power generation.
Norway Moves to Extend Life of Europe's Key Oil Field Johan Sverdrup
Norway advances Phase 4 of Johan Sverdrup, Europe's top oil field, adding up to 50 million barrels of oil equivalent to sustain output through the next decade.
Oil Prices Crash Below $79 as US-Iran Peace Deal Reopens Strait of Hormuz
Brent crude fell below $79 per barrel, its lowest since March, after the US and Iran signed a peace deal reopening the Strait of Hormuz and restoring Iranian oil exports.
UK energy bottleneck: planning system blocks infrastructure investment
Fuse Energy founder Alan Chang says the UK's planning system is a self-imposed bottleneck blocking infrastructure investment, despite ample capital and resources.
Capital Link Shipping Portal Adds CEO Insights on Tanker Markets
Capital Link Shipping expands its maritime intelligence hub with new CEO insights from Scorpio Tankers, DHT Holdings, and others, covering crude and product tanker markets.
Falling Oil Prices Could Ease Pressure on India’s Trade Deficit
Lower crude prices, driven by a tentative US-Iran deal and increased Middle East flows, are expected to narrow India's trade deficit after it remained elevated in April and May.
The $10 Billion Energy Corridor That Could Bypass Hormuz
A new initiative proposes a $10 billion energy corridor through Syria and Turkey to reduce global dependence on the Strait of Hormuz for oil and gas transit.
Australian LNG Strike Threatens Global Gas Supply as Qatar Recovery Lags
Workers at Inpex's Ichthys LNG facilities voted to escalate strike action to 8-hour daily stoppages, threatening global gas supply amid Qatar's slow recovery.
Morgan Stanley urges buying energy stocks after oil pullback
Morgan Stanley sees a buying opportunity in energy stocks after oil's 29% plunge, noting producer valuations imply WTI at $66, well below the $75 strip.
Adnoc Hires Oil Veteran Benoit Roulon to Lead Trading Unit Expansion
Abu Dhabi National Oil Co hired commodities veteran Benoit Roulon to lead its trading arm, signaling a strategic push to expand its market influence after leaving OPEC.
India's ONGC Considers Resuming Venezuela Oil Operations
India's ONGC Videsh plans to resume operations at two onshore oil assets in Venezuela, despite $900 million in unpaid dividends from PDVSA, signaling a shift as Venezuela reopens to foreign investment.
Glencore, Trafigura Among Investors in Merdeka’s Hong Kong IPO
Commodity trading giants Glencore, Mercuria, and Trafigura are set to invest in the Hong Kong IPO of Indonesian gold miner Merdeka Gold Resources, signaling strong institutional interest.
Turkey Seeks Higher Oil Flows Via Iraq Pipeline to Renew Deal
Turkey is pushing for higher oil throughput from Iraq's Kirkuk-Ceyhan pipeline as a condition to renew the transit deal expiring next month, a move that could tighten global supply if unresolved.
Emerging Stocks Near Record High on Tech Rally, Falling Oil
Emerging-market stocks rallied for a third day, approaching a record high, as lower oil prices and a tech rally boosted investor sentiment.
Bank of Japan Hikes Rate to 31-Year High, Energy Costs Weigh
The Bank of Japan raised its benchmark rate to 1.0%, the highest since 1995, driven by inflation from the Middle East conflict and rising energy costs.
Philippines Returns to Global Bond Market as Oil Pressure Eases
The Philippines returned to the global bond market for the second time this year, capitalizing on lower borrowing costs amid optimism over a potential US-Iran agreement that could ease oil supply concerns.
ConocoPhillips Set to Become First US Major to Sign Post-War Syria Gas Deal
ConocoPhillips is set to become the first major U.S. oil company to sign a gas development deal with Syria's state gas company, marking a significant post-war energy entry.
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NowPrice news curates headlines from established financial sources (CoinDesk, Decrypt, Investing.com, MarketWatch, OilPrice, Bloomberg and others). Our editorial team writes concise summaries in 5 languages. We don't republish articles — every story links back to the source.