Rigzone Industry News

Oil jumped to a fresh one-year high as crude stockpiles in the largest US storage hub dropped to the lowest since July 2022.

Oman's OQ Gas Networks SAOG received orders for all shares in its initial public offering a day after books opened.

Oil edged higher as the effect of rapidly tightening supplies outweighed a weakening risk appetite in broader markets.

The merger creates 'a more diversified North American midstream infrastructure company'.

Oil's rally continued to cool with investors in search of a new catalyst to support more buying.

Oil eased off yearly highs, capping a tumultuous week that saw the Federal Reserve flagging a further rate hike and Russia banning diesel exports.

The OPEC Fund has committed $10 million to Egypt for the import of vital food and agricultural commodities.

Oil steadied as a broad, risk-off sentiment eroded gains driven by Russia's ban on gasoline and diesel exports, further tightening an already stressed global fuel market.

'Physical markets have tightened'.

Oil's breakneck rally is taking a breather as a smaller-than-expected drop in US crude stockpiles bolstered technical resistance to further gains.