The Latest Breaking News from Oil

Major oil giant puts North Sea operation up for sale in potential £2 billion move

Oil giant BP has said it is putting its UK North Sea business up for sale after 60 years of production

The National (Scotland) · Jul 31

China school canteens turn food waste into biodiesel, compost with this smart machine; watch video

A novel system in Chinese school canteens processes leftover food into valuable resources. Students deposit food scraps into specialized machines after finishing their meals. The system extracts oil for biodiesel production and converts organic waste into compost. This innovative approach repurposes discarded food, reducing landfill waste significantly. The process creates…

The Economic Times · Jul 31

Ukraine-Russia war latest: Nine dead and dozens wounded as Putin pounds Kyiv with ballistic missiles

Trump's remarks come as Kyiv hits two more Wildberries warehouses and oil facilities in Russia

The Independent UK · Jul 31

SK Hynix Stock Soars 22%, Samsung Jumps 19% as Kospi Hits Trading Halt: Dow Futures Climb 151 Points

Asian stocks traded higher at the time of writing, led by a nearly 13% surge in South Korea’s KOSPI, while U.S. stock futures advanced and oil prices remained elevated.

Benzinga · Jul 31

South Korea’s Kospi index jumps more than 16% on a surge of chipmaking stocks

South Korea's Kospi index saw a significant jump, mirroring Wall Street's positive performance. AI-related stocks experienced a strong rebound after recent declines earlier in the week. Japanese markets also climbed, with technology and investment firms showing gains. Oil prices increased due to ongoing tensions and a closed key shipping route.…

The Economic Times · Jul 31

Iran claims to destroy drone hangars, fuel depot at US base in Kuwait

US Iran war: IRGC reported destroying US drone hangars and a fuel facility in Kuwait. The IRGC also claimed a missile strike on Jordan's al-Azraq airbase. US Central Command denied damage to any American aircraft in these incidents. They also refuted claims about a commercial oil tanker violating a US…

The Economic Times · Jul 31

D-St set for a positive opening as GIFT Nifty signals firm start

Indian benchmark indices opened flat and traded in a choppy, volatile range. Analysts suggest the index may head towards resistance at 24,500-24,600 levels. The India VIX, measuring market fear, rose 1.2% to settle at 12.16. Foreign portfolio investors and domestic institutions were net buyers of shares on Thursday. The Indian…

The Economic Times · Jul 31

Burnham told Trump the UK will be ‘pragmatic’ about North Sea oil and gas

Despite vowing to stick to Labour’s 2024 manifesto promises, Burnham appears to have left the door open for further drilling in the North Sea

The Independent UK · Jul 30

Cotton Rallies on Thursday

Cotton futures were 81 to 139 points in the green at Thursday’s close. Crude oil was back down just 50 cents per barrel, with the US dollar index falling 0.914. Export Sales data showed 29,719 RB of cotton sold for 2025/26 in the week of July 23. That was a...

Barchart · Jul 30

Soybeans Fades Lower on Thursday

Soybeans posted weaker trade late on Thursday, with contracts down fractionally to 4 cents across most contracts. The cmdtyView national average Cash Bean price was up 2 ¾ cents at $11.49. Soymeal futures were 40 cents to $1.20 lower across most contracts, with Soy Oil futures down 17 to 82...

Barchart · Jul 30