This week saw oil prices tank more than 10% as President Donald Trump’s tariffs went into effect. A single-day drop of more than 7% in global oil prices is rare but not unheard of. It usually signals something dramatic: the spectre of war (directly involving the U.S.), pandemics, cartel infighting,

WTI crude came under heavy selling pressure Thursday after the U.S. rolled out a sweeping tariff package that sparked immediate fears of slower global growth and weaker oil demand. Traders weren’t reacting to the direct impact on crude—oil and refined products were excluded—but to the ripple effect

BP chair Helge Lund has informed the board that he would be stepping down from the role “most likely during 2026,” as activist investor Elliott continues to demand more changes at the UK-based supermajor. BP’s board of directors has initiated a succession process to select a new Chair after Helge

Australia’s ASX energy index plummeted by 8% at close on Friday amid rising concerns about economic growth and oil demand in continued panic selling in all major markets after the U.S. tariff announcement. The S&P/ASX 200 Energy [XEJ] index consists of the 11 companies in the S&P/ASX 200

ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to