Yet again, OPEC has postponed plans to increase oil production until at least the end of the year. That drove oil futures higher on Monday — West Texas Intermediate is trading around $71.50 a barrel.

The Strait of Hormuz is under strain. Iranian oil exports are in jeopardy. And the global energy market was desperately looking for a pressure valve. Venezuela just quietly opened one. For the first ...

WASHINGTON, Jan 5 (Reuters) - The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in ...

Oil prices will be stuck at high levels for a while as the supply shock from the Iran war has reached a "critical breaking point," HFI Research said.

Oil prices surged to wartime highs on Wednesday, extending a streak of gains. Markets are trying to navigate an uncertain timeline for peace negotiations.

A sudden spike in oil prices and rising geopolitical tensions in the Middle East are affecting markets globally, with investors reassessing risks in their portfolios and seeking safe-haven ETFs. Crude ...

Oil and gas giant BP has reportedly dropped its goals for cutting oil and gas output by 2030 as it shifts away from an ambitious clean energy strategy in light of sustained global demand for fossil ...

LAUNCESTON, Australia, Aug 4 (Reuters) - A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still ...

U.S. crude oil hit an intraday low of $76.15, the lowest level since Feb. 26, before rebounding. WTI and Brent booked a loss of about 2.9% and 2.2%, respectively. OPEC+ will meet virtually on June 2 ...

Oil prices have risen by nearly $10 over the past month and could continue rallying. Higher oil prices would enable producers to generate more cash. Devon Energy, Pioneer Natural Resources, and ...