The Latest Breaking News from Oil

It was perhaps unavoidable that fossil fuels would take centre stage at this year’s COP28 climate negotiations, held in Dubai and presided over by oil magnate Sultan al-Jaber.

The Federal Trade Commission is investigating Chevron’s acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger

The November jobs report came out Friday morning. The Labor Department reported that 199,000 jobs were added last month, resulting in a 20-basis-point drop in the unemployment rate to 3.7%. The news should help Friday trading.

Oil cartel warns ‘pressure may reach a tipping point’ and that ‘politically motivated campaigns put our prosperity’ at risk

Given the sustained demand for crude oil and strategic production cutbacks by OPEC+, there's a potential for prolonged elevated oil prices. To seize this opportunity, one could consider adding resilient energy stocks Shell plc (SHEL), NuStar Energy (NS) and Summit Midstream (SMLP) to their portfolio for year-end profits. Read on….

January WTI crude oil (CLF24 ) this morning is up +1.58 (+2.31%), and Jan RBOB gasoline (RBF24 ) is up +0.0450 (+2.25%). Crude oil and gasoline prices this morning are moderately higher. Energy prices are climbing today after better-than-expected U.S. economic reports on Nov payrolls and Dec consumer sentiment reduced...

Georgina Mansergh, 24, reacted to sesame oil in a tahini sauce in the meal and collapsed at the Angel Inn in Ferndown

There is “no science” behind demands to phase out fossil fuels, according to the current COP president. This level of cynicism at the top of the annual climate summit makes it less surprising that the conference has also been used as an oil trading venue.

Thanks to boosted investment in renewables, coal has proven a far easier energy source to quit than oil and gas -- with a few exceptions -- in major economies.