News
Crude & Products news
Headlines from energy, shipping, agriculture and government sources, newest first, with duplicates removed. Headlines open the original story.
-
The Iran war is deepening the US energy crisis. A bad winter is ahead | Mark Wolfe
Congress must act to ensure that families are able to heat their homes before the start of the season Heating oil may be the clearest warning yet of how the war in Iran is deepening the US’s energy affordability crisis. Families…
-
The share of solar generation with co-located battery storage is increasing
Utility-scale solar developers are increasingly co-locating battery storage with new solar photovoltaic capacity. As of September 2026, over 16% of new utility-scale solar capacity added this year is co-located with operable…
-
Japan to Tap $7 Billion from Government Fund to Subsidize Gasoline Prices
Japan’s government on Friday decided to tap $7 billion from its contingency reserves to keep subsidies for gasoline and other fuels, even as it plans to gradually scale back the support from December. The Japanese government…
-
Whistleblowers Claimed Key Oil Tanker Rate Was Manipulated
The Baltic Exchange has received two whistleblowing claims of attempted manipulation of the world’s benchmark tanker rate since the beginning of the war in Iran, according to documents made public as part of a major legal battle…
-
Tanker in Strait of Hormuz Hit by Limpet Mines, Security Sources Say
A small boat attached two limpet mines to the hull of a tanker in the Strait of Hormuz causing a fire in its engine room and temporarily disabling the vessel, in the first successful use of such explosives in the waterway since…
-
Eni Reactivates 'Supergiant' Venezuelan Oilfield
Junin-5 restarted operations following the execution of the new license between Eni and Venezuela, under which the heavy oil field is planned to increase production to 200,000 barrels per day by 2028.
-
Brent Hits $117 as Tanker Catches Fire in Strait of Hormuz
Tensions in the Middle East are escalating again as a tanker was reported on fire after explosive devices were attached to its hull while the vessel was attempting to transit outbound in the Strait of Hormuz. The UK Maritime…
-
Oil prices increase as attacks on shipping ramp up
Brent crude climbed 2.5% to $113.51 a barrel. Brent remains near the high end of its range since the war with Iran began.
-
BP profits hit 18-year high as Iran war drives up oil refining margins
Oil giant hails ‘banner quarter’ as earnings reach $8.46bn, prompting anger from climate campaigners BP’s profits have hit their highest level in almost two decades as the war in the Middle East drove up oil and gas prices and…
-
Chevron and Exxon beat earnings expectations as refining profits soar on high diesel fuel prices
Diesel prices have surged globally as Ukraine and Iran have bombed refineries in Russia and the Middle East.
-
Oil Markets Caught Between Iran War Risks and Emergency SPR Releases
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the…
-
BP Quadruples Profit to Record as War Boosts Refining and Trading
BP easily beat analyst expectations of third-quarter earnings, posting its highest quarterly profit, which nearly quadrupled from a year earlier amid strong refining margins and oil and gas trading. BP’s underlying replacement…
-
Russian strikes plunge Ukrainian city into blackout as Zelenskyy warns of more missile attacks
Russian strikes caused major power outages in Dnipro as a reported Ukrainian drone attack sparked a fire at a Russian oil refinery.
-
How a New “Arab Dark Fleet” Keeps Hormuz Oil Flowing
Gulf oil producers have gained control of a fleet of nearly 230 tankers that have defied Iran to ship oil through the Strait of Hormuz and keep the chokepoint open to global trade. The giant fleet is owned, managed, chartered or…
-
MOL Signs Long-Term Charter Contract with Deutsche ReGas for Energie-Terminal “Deutsche Ostsee” in Germany
Mitsui O.S.K. Lines, Ltd. and Deutsche ReGas announced that they have entered into a long-term Time Charter Contract with Deutsche ReGas for the deployment of one FSRU at the Energie-Terminal “Deutsche Ostsee” in Mukran, Germany.…
-
India’s steel consumption rises 8% in September; first-half imports climb 23.8%
India’s finished steel consumption rose 8% year-on-year to 14.4 million tonnes in September 2026, outpacing production growth and keeping the country a net importer of finished steel, according to Nomura’s India steel update.…
-
Oil rises near 6-mth high as Trump weighs military options against Iran
Oil prices rose near six-month highs on Friday as the prospect of renewed U.S. military action against Iran clouded hopes for a diplomatic breakthrough, reviving concerns over supply disruptions. As of 05:45 ET (09:45 GMT), Brent…
-
Low Rhine strains Swiss diesel supply as importers turn to compulsory stocks
Extremely low Rhine water levels have tightened refined product supplies into Switzerland, forcing importers to increasingly rely on alternative transport routes and compulsory diesel stocks as barge movements remain heavily…
-
US fuel production holds steady in October
The US has supplied 11% more fuel oil per day on average in October so far than in September, according to the Energy Information Administration (EIA). Changes in monthly US residual fuel oil from September to October (so far)…
-
Commission launches High-Level Dialogue with the European refining sector
The European Commission launched this week the first High-Level Dialogue with the European refining industry to discuss how to strengthen Europe’s energy security, defence readiness and industrial competitiveness in a rapidly…
-
Natural Gas Storage Levels Rise, Surpassing Forecasts
The latest data from the Energy Information Administration (EIA) reveals a notable increase in natural gas storage levels, as the U.S. reported an addition of 80 billion cubic feet (Bcf) to its underground storage facilities.…
-
European Natural Gas Prices Near €100
European natural gas prices rose back toward €100 per megawatt-hour on Friday, the highest since late 2022, and on track for a monthly gain of more than 30%, amid concerns over a renewed escalation of the Middle East war and…
-
Equinor Doubles Estimate for Afrodite Gas Discovery
An appraisal well showed that the Afrodite discovery near the Kvitebjorn field on Norway's side of the North Sea potentially holds 77-180 million barrels of oil equivalent recoverable natural gas and condensate.
-
Wall Street Banks Raise Oil Price Forecasts as Supply Fears Deepen
Brent Crude oil prices are set to end the year at about $105 per barrel, bank ANZ said on Friday as it hiked its projection by $10 a barrel on the assumption that Middle East oil exports, shipping availability, and fuel supplies…
-
Russian oil refinery struck as Ukraine renews drone attacks
Russian authorities say they intercepted more than 1,000 Ukrainian drones over multiple regions overnight.
-
BP’s third-quarter profit nearly quadruples to $8.5 billion as refining margins surge
The oil major was the latest to smash profit expectations as global conflicts continue to drive energy market volatility.
-
High Oil Prices Set to Trigger New Wave of North Sea Mergers
High oil and gas prices are going to drive further consolidation in the UK sector of the North, according to analysts, who also said tax considerations would play a role in stimulating M&A appetite in the region. The expectations…
-
BP Posts Highest Quarterly Profit in 18 Years
BP said profit surged to the highest in 18 years as soaring refining margins boosted earnings, while a sharp drop in net debt moved the British energy major closer to a position where it could restart buybacks.
-
Oil flows are up as Iran war turmoil eases. Why do prices keep rising?
Brent crude prices are up more than 60 percent compared with pre-war levels, despite rebound in supply.
-
Houthis Claim Fresh Strikes on Saudi Oil Refineries and Aramco Facilities
The Yemeni Houthis claimed a fresh series of attacks on Saudi targets, including oil infrastructure: two refineries and a facility at the Abqaiq oil field. The Houthis struck the Ras Tanura refinery and the Rabigh refinery, the…
-
Iran claims four tankers struck mines in Hormuz as strike fears grow after U.S. midterms
Iran said four tankers struck mines in the Strait of Hormuz, while Tehran disputed a U.S. claim that key shipping lanes had been cleared.
-
Oil Prices Head for Fourth Monthly Gain as Middle East Tensions Escalate
Crude oil prices were set for another weekly gain today, also extending their monthly rise to four months in a row amid continued fears of escalation in the Middle East and Houthi attacks on Saudi infrastructure. At the time of…
-
US ethanol production increases as inventories edge lower
In Washington, Brownfield Ag News reports Energy Information Administration data shows fuel ethanol production averaged 1.118 million barrels per day in the week ended October 23, 2026, rising by approximately 24,000–25,000 b/d…
-
Review finds mixed results from edible and non-edible biodiesel blends in reducing NOx
In India, a review published in Discover Mechanical Engineering examines how biodiesel made from edible and non-edible oils affects nitrogen oxide (NOx) emissions from diesel engines. Its findings show that results vary…
-
Thailand’s proposed biofuel tax relief faces a THB10 billion budget constraint
In Thailand, Agrospectrum Asia reports the country is considering targeted excise-tax reductions for E20 gasoline and B20 biodiesel to ease fuel costs while supporting agricultural feedstock producers, including sugarcane…
-
What’s Next for Global Natural Gas Demand?
The Iran war and the lack of LNG supply from the Middle East have upended forecasts of near-term natural gas demand and import costs. So far this year, economies in Europe and Asia have relied more on renewables and coal for…
-
Trump's Russian Diesel Is a Legal Hot Potato With a Five-Year Fuse
A Malta-flagged tanker called the Agioi Fanendes left the Russian port of Primorsk on Oct. 22 carrying nearly 40,000 metric tons of ultra-low-sulfur diesel, and ship-tracking data has it arriving at the Port of New York and New…
-
Sinopec's Q3 Profits Soar on Higher Oil Prices
Sinopec, China's biggest oil refiner, posted higher third-quarter profits.
-
Oil prices edge lower as renewed U.S.-Iran peace efforts ease supply fears
Oil prices declined Thursday as prospects of renewed peace negotiations eased fears of supply disruptions stemming from escalating tensions in the Middle East.
-
Seven oil tankers carrying 288,000 tonnes of Russian diesel sail towards US
Tankers, tracked by Greenpeace, are first phase of Trump-Putin deal – but there is uncertainty over whether they will unload Seven oil tankers carrying an estimated 288,000 tonnes of Russian diesel are now sailing towards the US…
-
Wallenius Wilhelmsen Orders Up to 12 LNG-Powered Car Carriers in $1.5 Billion Fleet Expansion
Wallenius Wilhelmsen is expanding its fleet renewal program with an order for four new dual-fuel car carriers and options for eight more, potentially adding 12 vessels in a deal valued...
-
QatarEnergy Continues LNG Buying Spree to Hedge Future Hormuz Disruptions
QatarEnergy is buying long-term supplies of liquefied natural gas from the US and other producers as part of a trading strategy designed to generate revenue if exports through the Strait of Hormuz are disrupted in the future, CEO…
-
Shell and Total Post Highest Quarterly Profit Since 2022
Shell and TotalEnergies reported on Thursday sharply higher third-quarter profits and raised share buybacks, as war-driven energy prices and record refining margins helped both beat expectations.
-
Cheniere LNG Shipments Surge as Iran War Reshapes Global Gas Trade
U.S. LNG giant raises full-year earnings outlook as Middle East supply disruptions boost demand for American exports Cheniere Energy, the largest U.S. exporter of liquefied natural gas (LNG), reported a...
-
EQT-Range Company Will Stand 25Pct Clear of Nearest Rival
EQT's acquisition of Range Resources 'creates America's largest natural gas producer', Wood Mackenzie highlighted.
-
Phillips 66 Delivers Profit above Expectations
Phillips 66 reported $5.62 billion in net profit for the third quarter, up from $3.85 billion for the prior three-month period on higher refining margins.
-
Oil prices sink on fresh diplomatic efforts in Middle East
The price for a barrel of Brent crude oil sank 2.1% to $109.26 as traders assessed fresh diplomatic efforts in the Middle East to avert a resumption of U.S. military strikes on Iran.
-
LNG imports make up increasing share of Colombia's natural gas supply
Colombia is importing more liquefied natural gas (LNG) as domestic production continues to fall. A potential drought this fall and winter could limit the availability of hydroelectric generation and boost the country's demand for…
-
France Says Europe Set to Release 42MM Barrels of Oil
Europe will release 42 million barrels of oil reserves into the market over the next three months as part of its commitment to ease prices, France's economy minister Roland Lescure said.
-
Cruise residents stranded in Cambodia after fuel crisis halts operations – video
A luxury cruise ship on a years-long voyage around the world was forced to suspend its operations because of high fuel prices, stranding passengers in Cambodia. The ship, which began its journey in 2024, had been carrying 203…
-
US moves to lift sanctions on Russia's shadow fleet could undermine Western pressure on Moscow and help fund its war in Ukraine.
The US is reportedly considering ways to convert "dark tankers" into legitimate vessels, allowing them to transport crude oil that is not subject to sanctions.
-
Qatar to Buy LNG From Woodside as It Scours for US Supply
QatarEnergy agreed to purchase US liquefied natural gas from Woodside Energy Group Ltd. for two decades, saying it’s now the top buyer of the American fuel as it diversifies from the Middle East.
-
TotalEnergies Expects to Sustain Tailwinds behind Blockbuster Q3
TotalEnergies reported $9.1 billion or $4.03 per diluted share in net profit adjusted for nonrecurring items for Q3, and expressed confidence high LNG prices and refining margins would continue to underpin results through the…
-
Shell Approves $5B Buyback as Refining Boosts Profit
Shell announced one of its highest-ever share buybacks as the Iran war and the Russia-Ukraine conflict lead to record margins for its oil-refining business and surging profits.
-
Tariffs, diesel and computer chips are driving up costs for automakers
American auto companies say they are paying more for key components like computer chips, steel and copper — plus the fuel needed to transport their products.
-
Trump methane policy rollback may have minimal impact on crude prices, EPA says
The EPA projects Trump’s methane rollback would only lower 2027 U.S. crude prices 11 cents a barrel, while lifting domestic oil output 0.09%.
-
Wärtsilä gas conversion secures 10-year power contract in Brazil
Finnish technology group Wärtsilä Oyj has announced that it will carry out a gas conversion project for Brazilian power utility Termocabo S.A. The project will convert the Termocabo Power Station, located in Cabo de Santo…
-
Oil prices rise as U.S. reportedly tells Gulf countries to prepare for Iran strikes after midterm elections
Oil prices climbed Wednesday as investors weighed the prospect of a prolonged conflict in the Middle East.
-
OGJ Gasoline Prices
-
Baker & O'Brien US Gross Refining Margins
-
Exports of Crude and Products
-
Refinery Report
-
Crude and Product Stocks
-
Imports of Crude and Products
-
Higher Diesel Prices Cost Farmers $2.4 Billion More During 2026 Planting and Harvest
American farmers are facing an estimated $2.4 billion increase in diesel expenses during the 2025-2026 planting and harvesting season, according to an analysis released in October 2026 by Democrats on the U.S. Joint Economic…
-
Trump shows off tanker with ‘1m barrels of oil’ and floats Venezuela as 51st state
President at Texas campaign rally hails deal struck with post-Maduro government as ‘greatest oil victory in history’ Donald Trump suggested Venezuela would become the 51st state of the United States on Tuesday as the president…
-
Trump administration may let more Russian diesel onto market, energy secretary tells CNBC
The diesel volumes in the Trump-Putin deal won't materially lower prices because the shipments are small compared to total demand, analysts say.
-
Oil prices fall after Iran supreme leader and top security official discuss conditions to end war
Renewed diplomatic efforts to end the U.S.-Israeli war with Iran pushed oil prices lower
-
Ghana’s TOR proposes expanding Tema refinery to 200,000 b/sd by 2029
TOR proposes increasing its existing Tema refinery’s capacity by 40,000 b/sd via a brownfield project, as well as adding another 115,000-b/sd at the site with construction of a grassroots plant.
-
CycleØ commissions Corte Pila RNG-to-grid plant
In Italy, CycleØ Group Ltd, a UK-based developer, owner and operator of biomethane plants in Europe, has announced the successful commissioning of its brownfield Corte Pila plant in Mantua Province in the Lombardy region that has…
-
VAROPreem sets out Value Growth Strategy to 2030
Switzerland-headquartered independent oil refiner, renewable fuel producer and retailer VAROPreem has announced its new VAROPreem Value Growth Strategy for the next five years, following the successful delivery of the ONE VARO…
-
Oil ticks lower as Saudi defense minister meets with Iran's president in Tehran to de-escalate
Investors are worried about the vulnerability of Saudi energy infrastructure and the risk of another disruption to production, refining or export facilities.
-
Ghana’s PHDC advancing Phase 2 of multibillion-dollar downstream petroleum hub
The project's proposed second phase would add major refining, petrochemical, storage, and marine capacity to Ghana’s planned hub, advancing the country's ambition to serve domestic and regional energy markets.
-
Brent crude oil tops $116, a six-month high, as tensions swell in the Middle East
U.S. President Donald Trump accused Iran on Thursday of trying to manipulate the oil market.
-
Qatar deal to buy U.S. natural gas shows how Iran war has redrawn global energy markets
The Iran war is transforming global energy markets and benefiting U.S. companies, especially liquefied natural gas exporters.
-
Oil price rises above $117 a barrel amid fears US will renew strikes on Iran
Brent crude increase follows Tehran threatening retaliatory attacks on Gulf refineries and datacentres Oil has hit its highest level in more than six months as fears of fresh escalation in the Middle East conflict grip the energy…
-
Energy Department Authorizes Strategic Petroleum Reserve Exchange to Support Fuel Supply Stability
The U.S. Department of Energy (DOE) authorized the exchange to help support regional fuel availability and alleviate potential impacts on transportation fuel supply in Louisiana and surrounding region.
-
Energy Department to Use Defense Production Act Funding to Restart American Refinery and Expand Refining Capacity
President Donald J. Trump today announced plans to provide up to $150 million in Defense Production Act Title III funding to expand domestic petroleum production, storage, and logistics at refineries across the United States.
-
Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump
Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit…
-
Brent crude tops $113, highest level since May, after Trump hints at action on Iran
The Middle East conflict could flare up again as the U.S. reportedly plans to resume strikes against Iran.
-
Valero wraps St. Charles FCC project, reports record earnings
Valero's confirmation of its completion and startup of the $230 million FCC unit upgrade at its St. Charles refinery came alongside the operator's reporting of record earnings for third-quarter 2026.
-
Under-the-radar stocks to play the next leg of the energy trade with oil prices jumping again
Iran is going to grow more desperate as oil money dries up, which makes the country even more dangerous.
-
U.S. refineries have been running at very high rates in 2026
The U.S. refinery fleet has run at higher-than-normal rates this year, with refinery utilization averaging more than 95% of capacity between May and September, the highest for those months since 1998. Tight global product…
-
Oil prices jump to five-month high as attacks threaten global supply
Iran’s IRGC says it hit four vessels in the northern Gulf and three more struck mines near the strait of Hormuz Shipping workers: how is the Middle East conflict affecting you? Oil prices jumped to a five-month high on Thursday…
-
Baker & O'Brien US Renewable Diesel Margin
-
Muse, Stancil and Co Refining Margins
-
How Ukraine’s drone strikes on Russia crippled the world’s second-largest diesel supplier
President Donald Trump has blamed Ukraine for surging diesel prices that are hurting Republicans' election chances with the midterms just two weeks away.
-
Energy Department Authorizes Exchange from Northeast Home Heating Oil Reserve
The U.S. Department of Energy (DOE) authorized the exchange to address supply chain disruptions and ensure Americans in the Northeast region stay warm.
-
Diesel Aid Could Push 2026 Government Payments to Farmers to Record $55 Billion
USDA's recently announced Harvest Fuel Relief Program could "push US government payments to farmers in 2026 to $55.4 billion, based on USDA's earlier net farm income forecast with $8 billion added to it. The highest previous aid…
-
‘Jackdaw means we pay our mortgages’: relief in Aberdeen over gasfield approval
Few believe decision will bring back city’s boom years, but workers hope it will secure North Sea jobs for now UK approves Jackdaw gasfield in North Sea What does the UK’s approval of Jackdaw mean? As recently as 2012, Aberdeen…
-
U.S. eyes refining muscle of Indian billionaire Ambani's Reliance as Rubio visits Jamnagar plant
Rubio said the "extraordinary" refining capacity of Reliance could help India diversify its energy supplies, hinting at greater offtake of Venezuelan crude.
-
Diesel Fuel Price Impact on Fuel & Oil and Per-Acre Machinery Costs
Diesel fuel prices for agricultural use in Illinois have reached a record high. Those higher prices are estimated to raise fuel and oil costs on Central Illinois grain farms with…
-
Oil prices fall as traders hope for diplomatic progress in Middle East
Developments in the Middle East remain in focus, with attacks on commercial ships transiting the Strait of Hormuz escalating in recent weeks.
-
GCL, Jurong sign contract for Ethiopia LNG project
GCL Holdings and Jurong Group have signed a contract to develop the next phase of Ethiopia's Ogaden basin LNG project, focusing on construction and toll processing to boost LNG production and infrastructure.
-
Eni, EGPC launch Meleiha Phase 2 gas project in Egypt
Agiba Petroleum, a joint venture of Eni and EGPC, has started up activities for its Meleiha Phase 2 project, which aims to establish a gas hub capable of processing 100 MMcfd in Egypt’s Western Desert, supporting domestic energy…
No stories in this category right now.
Updated Oct 30, 10:15 AM ET. Summaries are short excerpts of each publisher's own feed description. News sources.