BP posts highest quarterly profit in 18 years as refining margins surge on war-driven oil prices
BP's blowout quarter, driven by refining and trading, sets the tone for Big Oil earnings as high pump prices loom over the US midterms.
Rigzone · +14 outlets
Brent hits $117 after tanker attacked with explosive devices in Strait of Hormuz
The attack on a transiting tanker escalates Middle East tensions and adds a fresh risk premium to already elevated crude prices.
Oilprice · +5 outlets
ExxonMobil and Chevron beat Q3 estimates as refining profits soar on high diesel prices
The two US majors topped expectations, with downstream margins rather than upstream output driving the beat.
CNBC · +7 outlets
Oil giants report windfall profits as high gas prices become a midterm election issue
Record oil company profits and $4-plus pump prices are colliding with the US midterm campaign, drawing political scrutiny of shareholders and industry returns.
The Washington Post · +14 outlets
Europe to release 42 million barrels from oil reserves over three months, France says
Coordinated emergency stock releases aim to cool prices from war-driven supply fears, though the barrels arrive gradually.
Rigzone · +14 outlets
Oil heads for fourth straight monthly gain as Middle East tensions and Houthi attacks persist
Crude is on track for a four-month winning streak as traders weigh war risk against emergency supply releases.
Oilprice · +14 outlets
Houthis claim fresh strikes on Saudi refineries and Aramco facilities
Attacks on Ras Tanura, Rabigh and the Abqaiq field mark an escalation against Saudi oil infrastructure.
Oilprice · +14 outlets
Wall Street banks raise oil price forecasts as supply fears deepen
ANZ and peers lifted Brent projections by around $10 as Middle East export and shipping risks persist.
Oilprice · +14 outlets
Shell profits nearly double to $10.8 billion as refining margins hit record
Shell approved a $5 billion buyback on the back of record downstream margins.
Rigzone · +14 outlets
US-Iran war may keep oil in a broad $105-120 per barrel range, Mirae Asset Sharekhan says
The brokerage expects the conflict to keep crude elevated, reinforcing forecasts of $100-plus oil through the year.
Business Standard · +1 outlets
TotalEnergies posts record quarterly profit on high oil and LNG prices
The French major reported $9.1 billion in adjusted net profit and expects the tailwinds to persist.
France 24 · +14 outlets
Eni reactivates Venezuela's Junin-5 supergiant oilfield under new license
The heavy oil field is slated to ramp to 200,000 barrels per day by 2028 as Venezuela courts foreign operators.
Rigzone · +2 outlets
Sinopec Q3 profit jumps 64% on higher oil prices
China's largest refiner posted a sharp gain, reflecting strong refining economics in a high-price environment.
Rigzone · +13 outlets
Petrobras sets third-quarter oil and gas production record, output up 11.7%
The Brazilian state producer hit record volumes even as investors weigh dividend and crude-discount pressures.
ad-hoc-news.de · +7 outlets
UK energy sector poised for more M&A as high oil prices and taxes spur consolidation
Analysts expect a new wave of North Sea deals, with UK-linked oil and gas M&A already reaching $19.6 billion.
Oilprice · +14 outlets
Phillips 66 beats profit expectations on higher refining margins
The refiner reported $5.62 billion in quarterly net profit, up from $3.85 billion in the prior period.
Rigzone · +14 outlets
Global LNG prices jump 6% as winter supply fears threaten India's gas affordability
Jefferies flagged tightening global supplies, while Egypt bought six fuel oil cargoes for year-end delivery as LNG costs climbed.
The Times of India
Trump administration moves to roll back Clean Air Act methane regulations for oil and gas
The EPA said the rollback would have minimal impact on crude prices, but environmental groups warn of higher emissions.
Spencer Fane