Big Oil thanks expensive crude: extra profits of 63 billion
American oil companies are poised to earn over $60 billion in profits if oil prices remain inflated due to the war in Iran, with consumers already facing a 22% increase in gasoline prices since the onset of bombings.
Oil prices rise
Oil prices continued to rise as markets reopened on Sunday evening, driven by the ongoing conflict in the Middle East.
Oil: A 10% Jump in Hours for Brent and 13% for American Crude – Will the War Rally Burn the Economy?
Oil prices surged dramatically, with Brent crude gaining nearly 10% and American crude nearly 13%, following U.S. President Trump's announcement regarding Iran.
How will American and Israeli strikes against Iran affect oil markets?
The American and Israeli strikes against Iran may significantly disrupt global crude oil supplies, potentially driving prices to levels not seen in years.
Reuters: U.S. Valero to import 6.5 million barrels of oil from Venezuela
Valero Energy, an American company, plans to buy 6.5 million barrels of Venezuelan crude oil in March 2024, becoming the largest foreign oil refiner in Venezuela since the arrest of President Nicolas Maduro.
Xi Jinping, 'Don't sell weapons to Taiwan'... Trump, 'Stop buying American crude'
Chinese President Xi Jinping issued a strong warning against U.S. arms sales to Taiwan during a phone call with President Donald Trump, who demanded China purchase American crude oil.
Chinese Supertankers Abruptly Change Course to Venezuela
Two Chinese supertankers heading to Venezuela to pick up crude oil shipments for debt repayment have changed course and are returning to Asia, indicating that the South American nation under U.S. sanctions may not export oil to its main customer soon.
Major Oil Companies Compete to Invest in Venezuela
Global oil production and refining companies are vying for contracts to export crude oil from Venezuela, which has the largest oil reserves in the world, as the U.S. seeks to re-engage American energy firms in the Venezuelan oil sector after decades of nationalization.
Washington envisions military interception of a Russian 'phantom fleet' oil tanker, according to American media
The United States is considering the possibility of seizing the Marinera, a Russian-flagged ship suspected of transporting Venezuelan crude oil.
What will happen with Venezuela's oil? Trump opens the way for American companies
Donald Trump announced that American oil companies will be allowed to operate in Venezuela to exploit its crude oil reserves, despite the ongoing embargo.
The U.S. wants its oil companies to recover the crude industry in Venezuela
The U.S. government, led by President Donald Trump, is looking to have American oil companies invest billions to restore Venezuela's oil infrastructure amidst military operations in the country.