XOP Stock Recent News

Crude oil edges higher on API inventory draw and refinery outages, as traders eye key resistance and await the EIA's weekly report for further direction.

New research into how microplastics are affecting us is concerning scientists, but the oil and gas industry is relying on plastics for growth.

Oil and gas markets remain fragile with OPEC+ supply gains, sanctions risks, and volatile demand shaping near-term outlook. Read the full forecast now.

Geopolitics lifted DAX to a three-week high, yet futures point lower as investors await Fed minutes, ECB outlook, and German price data.

Oil prices rose on Wednesday as supply concerns are resurfacing while peace talks ending Russia's invasion of Ukraine are likely to take longer, leaving in place sanctions on Russian crude and raising the chance of further restrictions on its buyers.

Crude oil extended its consolidation activity Tuesday, holding between $62.19 support and $64.18 resistance, as traders weigh potential bearish continuation against signs of short-term reversal.

Oil traders cut their bets on additional Russia-related sanctions.

Treasury Secretary Scott Bessent told CNBC on Tuesday that India is "profiteering" from Russian oil, as its purchases have increased substantially compared to before Russia's invasion of Ukraine, and it is reselling a portion of it for profit. Bessent noted that this differs from China's purchasing of Russian oil, as China's purchases have been incremental increases compared to India.

The crude oil markets look soft on Tuesday as we continue to see a lot of problems with the massive amount of supply being pumped into the markets are the moment. The market continues to look at the lack of demand as an issue as well.

India's Russian oil imports declined in July after jumping the previous month as some refiners slowed purchases due to smaller discounts, while Indian fuel demand also typically dips during the monsoon season, according to trade sources and data.