Latest Oil and gas industry News

Energy prices spike after Saudi oil attack, US blaming Iran

Sep. 16, 2019 3:40 AM EDT

DUBAI, United Arab Emirates (AP) — Global energy prices spiked on Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record, an assault for which President Donald Trump warned that the U.S. was "locked and loaded" to respond. U.S. officials...

Asian markets mixed as oil prices surge

Sep. 16, 2019 3:18 AM EDT

BEIJING (AP) — Asian stock markets were mixed Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Hong Kong's benchmark tumbled 1% while Seoul advanced and Shanghai and Sydney were little-changed. Japanese markets were closed for a holiday. The benchmark...

Oil prices jump as attack on Saudi plant threatens supply

Sep. 16, 2019 3:07 AM EDT

The loss of 5% of world crude oil output from an attack on Saudi Arabia's largest oil processing plant pushed crude prices sharply higher on Monday. U.S. crude oil was trading 9% higher while Brent crude added more than 10%. The attack on the Saudi Aramco facility halted output of more than half of Saudi Arabia's...

Mississippi officials find spiked CBD sold in the state

Sep. 16, 2019 1:30 AM EDT

JACKSON, Miss. (AP) — Concerned about illegal drugs, Mississippi authorities took an interest in vape shops and gas stations selling products including the cannabis extract CBD. Laboratory testing by the state revealed that more than a dozen products contained dangerous synthetic marijuana. Three more...

Oil prices leap as attack on Saudi facility disrupts output

Sep. 16, 2019 12:45 AM EDT

Oil prices surged Monday after an attack on Saudi Arabia's largest oil processing plant halted output of more than 5.7 million barrels of crude a day. But after an initial spike, crude oil prices moderated as traders analyzed the likely longer-term implications. By late morning in Asia on Monday, U.S. crude oil...

Trump says US locked and loaded in response to drone attack

Sep. 16, 2019 12:39 AM EDT

WASHINGTON (AP) — Tensions are flaring in the Persian Gulf after President Donald Trump said the U.S. is "locked and loaded" to respond to a weekend drone assault on Saudi Arabia's energy infrastructure that his aides blamed on Iran. The attack, which halved the kingdom's oil production and sent crude...

Trump's rally in New Mexico a bid for an upset next year

Sep. 16, 2019 12:29 AM EDT

SANTA FE, N.M. (AP) — Donald Trump lost New Mexico by 8 percentage points in 2016. Last year, his party lost a House seat and the governor's mansion. Last week, a congressional candidate went viral by taunting the president by name in an ad. Still, Trump is headed to New Mexico on Monday for a campaign...

Asian markets mixed as oil prices surge

Sep. 16, 2019 12:17 AM EDT

BEIJING (AP) — Asian stock markets were mixed Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Hong Kong's benchmark tumbled 1.1% while Seoul advanced and Shanghai and Sydney were little-changed. Japanese markets were closed for a holiday. The...

Oil plant attacks show Aramco's entanglement with Saudi govt

Sep. 15, 2019 11:44 PM EDT

DUBAI, United Arab Emirates (AP) — The attack on one of the world's largest crude oil processing plants that cut global oil supplies is the most visible sign yet of how Aramco's stability and security is directly linked to that of its owner — the Saudi government and its ruling family. The strikes,...

The Latest: Oil prices spike after attack on Saudi facility

Sep. 15, 2019 11:40 PM EDT

BANGKOK (AP) — The Latest on oil prices in the wake of the attack on a Saudi Arabian oil plant (all times local): 10:30 a.m. An attack on a critical Saudi Arabia oil plant has pushed crude prices sharply higher, though they moderated on expectations that reserves will help bridge any shortfalls in output....