oil News Updates

Runaway freight is one of the most tangible market responses to a conflict that began on Feb. 28 and culminated with the vital Strait of Hormuz choke point all-but closing to tanker traffic.

Oil gained the most since October as traders weighed whether talks between the U.S. and Iran will be enough to avert conflict.

Oil markets are awash in crude, keeping a lid on prices and squeezing drillers. For U.S. refiners, though, the glut is proving a windfall. 

ConocoPhillips CEO Ryan Lance’s priority in Venezuela is recouping billions his company is owed almost two decades after its oil projects were nationalized, rather than drilling new wells. 

An oil exchange-traded fund posted its biggest daily inflow since the pandemic as investors bet that prices will continue to rally as tensions between the U.S. and Iran simmer.

BP needs to demonstrate how its decision to prioritize investment in oil and gas will create value for shareholders, according to a group of investors. 

Shares of U.S. oil giants Exxon Mobil and Chevron are on track for their largest monthly gains in more than three years, boosted by rising energy prices and geopolitical tensions.

The Trump administration issued a general license expanding the ability of oil companies to operate in Venezuela, a significant step to ease sanctions under the new leadership in Caracas.

The rise in fuel production is being driven largely by the ramp-up of the Dos Bocas plant. The refinery operated at 77.5% of its installed capacity in December, its best performance to date.

The company expects to book roughly $3 billion of data center-related orders between 2025 and 2027 and is also on track to double its natural gas turbine capacity by the first half of 2027.