Latest Oil and gas refining News

The Latest: UN chief: Experts on way to probe Saudi attacks

Sep. 18, 2019 7:06 PM EDT

DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf (all times local): 10:00 p.m. U.N. Secretary-General Antonio Guterres says U.N. experts have already left for Saudi Arabia to investigate attacks on key Saudi oil installations. Saudi Arabia's Ministry of Foreign Affairs said...

Oil price drops for 2nd day despite heightened Gulf tensions

Sep. 18, 2019 5:10 PM EDT

NEW YORK (AP) — Oil prices retreated for a second day Wednesday even as the Saudi military blamed Iran for recent attacks to critical oil infrastructure and U.S. Secretary of State Mike Pompeo called the strike an "act of war." Benchmark U.S. crude fell 2% to close at $58.11 per barrel. It fell nearly 5.7%...

The Latest: Saudi minister: 50% of crude reduction restored

Sep. 17, 2019 8:56 PM EDT

DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf and the fallout after weekend attack on major oil sites in Saudi Arabia (all times local): 10 p.m. Saudi Arabia's energy minister says 50% of the production cut by the attack on its oil processing plant has been restored. Prince...

Trump strains to balance diplomacy, military threat to Iran

Sep. 17, 2019 6:48 PM EDT

WASHINGTON (AP) — The Trump administration tried to balance diplomacy with fresh talk of military action Tuesday in response to the fiery missile and drone attack on the heart of Saudi Arabia's oil industry — a strike marking the most explosive consequence yet of the "maximum pressure" U.S. economic...

AP Analysis: Saudi oil attack part of dangerous new pattern

Sep. 17, 2019 11:58 AM EDT

DUBAI, United Arab Emirates (AP) — The assault on the beating heart of Saudi Arabia's vast oil empire follows a new and dangerous pattern that's emerged across the Persian Gulf this summer of precise attacks that leave few obvious clues as to who launched them. Beginning in May with the still-unclaimed...

Stocks mixed, oil down as markets await news on Saudi plant

Sep. 17, 2019 8:01 AM EDT

BANGKOK (AP) — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant damaged by an attack over the weekend. Chinese benchmarks led declines in Asia after the credit ratings agency Moody's downgraded Hong Kong, citing its...

Asian shares weaker after spike in crude oil rattles market

Sep. 17, 2019 12:48 AM EDT

BANGKOK (AP) — Shares were mostly lower in Asia on Tuesday after an attack on Saudi Arabia's biggest oil processing plant caused crude prices to soar, prompting selling of airlines and other fuel-dependent industries. The U.S. and international benchmarks for crude fell back slightly after vaulting more...

Oil prices jump as attack on Saudi plant jolts supply

Sep. 16, 2019 7:35 PM EDT

Global energy prices spiked more than 14% Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record. It was an increase on par with the 1991 Gulf War and analysts said heightened tensions in the Middle East could keep prices elevated for the...

Trump: It looks like Iran hit Saudis, no military option yet

Sep. 16, 2019 6:47 PM EDT

WASHINGTON (AP) — President Donald Trump declared Monday it "looks" like Iran was behind the explosive attack on Saudi Arabian oil facilities. But he stressed that military retaliation was not yet on the table in response to the strike against a key U.S. Mideast ally. Oil prices soared worldwide amid the...

The Latest: Trump says it's 'looking like' Iran is to blame

Sep. 16, 2019 3:59 PM EDT

WASHINGTON (AP) — The Latest on tensions in the Persian Gulf and the fallout after weekend attack on major oil sites in Saudi Arabia (all times local): 3:35 p.m. President Donald Trump says it's "looking like" Iran was responsible for the attacks on key oil installations in Saudi Arabia, but he says he...