Fuel & oil news
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Headlines
Drone Strike Shuts Russia's Largest Refinery, Fuel Crisis Deepens
A Ukrainian drone strike shut down Gazprom Neft's Omsk refinery, Russia's largest, worsening domestic fuel shortages and tightening global diesel supply expectations.
Super El Niño Threatens Colombia Energy Crisis as Drought Looms
Scientists warn a Super El Niño in 2026 could trigger severe droughts in Colombia, slashing hydroelectric output and straining gas-fired thermal plants, risking an energy crisis.
Ugandan Farmers Sue to Block $5 Billion East Africa Oil Pipeline
Ugandan farmers filed a case in the UK High Court against TotalEnergies to halt the nearly completed $5 billion East African Crude Oil Pipeline on environmental grounds.
Angola Aims to Raise $320 Million in Landmark Unitel IPO
Angola plans to raise up to $320 million through an IPO of Unitel, the country's largest telecom operator, aiming to boost budget financing and deepen capital markets.
Germany Plans $1.7 Billion Strategic Natural Gas Reserve
Germany announced plans to create a state-owned strategic natural gas reserve worth $1.7 billion, aiming to boost energy security by holding volumes equivalent to 10% of its storage capacity.
Russian Oil Exports at Record High as Price Slump Eats Into Revenue
Russian oil exports hit a record high in June, but a sharp drop in Urals crude prices has slashed revenue, reversing gains from higher volumes.
Equinor's Chief Crude Trader Departs Amid String of Exits
Equinor's chief crude trader David Barratt has left the company, adding to a wave of departures at the Norwegian energy giant that could signal internal shifts in trading strategy.
IEA Warns Global Gas Demand to Fall for First Time Since 2022 on Iran War
The International Energy Agency forecasts the first annual drop in global gas demand since 2022, driven by elevated prices from the Iran war, signaling a shift in fuel markets.
Fincantieri Warns Hybrid Warfare Threatens Europe Energy Links
Fincantieri's CEO warns that hybrid warfare poses a growing threat to Europe's underwater cables and energy infrastructure, raising security concerns for fuel supply chains.
Iraq Boosts Oil Output at Three Southern Fields to Full Capacity
Iraq has raised production at three southern oil fields to full capacity as tankers arrive to load cargoes, signaling a potential increase in global supply and pressure on OPEC+ quotas.
S&P 500 Futures Rise as Soft Jobs Data Fuels Rate Cut Hopes
S&P 500 futures rose 0.4% after softer US jobs data for June raised expectations for a Federal Reserve rate cut, while the 10-year yield held near 4.47%.
Gulf Oil Exporters Slash Prices as Buyers Gain Upper Hand
Gulf oil exporters, led by Saudi Arabia, are slashing prices to attract buyers, with Saudi Arabia cutting its official selling price for Asian buyers by up to $11 per barrel, the sharpest reduction in decades.
India Fuel Consumption Falls 3.7% in June Despite Record Crude Imports
India's fuel consumption fell 3.7% month-on-month in June to 19.24 million metric tons, despite record crude oil imports, signaling weak domestic demand.
Google and RWE Back German Nuclear Startup Proxima Fusion at €2.4B Valuation
Proxima Fusion, a German nuclear fusion startup, raised €411 million from investors including RWE and Google, reaching a €2.4 billion valuation, aiming for a commercial plant by the 2030s.
Japan's Inpex Signs 15-Year LNG Deal with Abu Dhabi
Japan's state-backed Inpex Corp. signed a 15-year LNG supply deal with Abu Dhabi National Oil Co., securing long-term energy for Japan and boosting Gulf producer ties.
Wall Street Warms to India’s Markets as Oil Pressures Fade
Global investors are returning to Indian markets as lower oil prices ease inflation and fiscal concerns, boosting sentiment toward the fuel-importing economy.
LG Energy Profit Misses Estimates Amid Slow EV Demand
LG Energy Solution missed Q2 earnings estimates as weak EV demand in key markets outweighed growth in energy storage systems, pressuring battery sector outlook.
Abu Dhabi Builds World's First Integrated Energy-AI Economy
Abu Dhabi is building the world's first integrated energy-AI economy, merging energy, AI, and maritime infrastructure into a single strategic ecosystem to redefine global competitiveness.
Clearway Energy (CWEN) Rises 1% as Solar and Gas Assets Gain Traction
Clearway Energy (CWEN) closed at $33.10, up 1.04%, outperforming the S&P 500's 0.72% gain, as its natural gas, solar, and wind assets attract investor interest.
Oil Steadies After Tanker Strike in Strait of Hormuz
Oil prices steadied after reports of a strike on a tanker in the Strait of Hormuz, underscoring persistent supply risks in the key waterway.
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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.