Oil prices surged Wednesday, jumping off multi-year lows after President Donald Trump ordered a “total and complete blockade” of oil tankers into and out of Venezuela.

U.S. shipping company Overseas Shipholding Group, Inc. (OSG) on Thursday announced it has reached an agreement with BP Oil Shipping Company to purchase the Jones Act compliant crude oil tanker Alaskan Frontier.Built by General Dynamics NASSCO in 2004, the ...

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BP said Woodside Energy chief Meg O'Neil will replace its current boss Murray Auchincloss, who has been in the role since the start of 2024.

Oil sentiment has turned sour despite a Fed rate cut and the Trump administration’s aggressive tanker seizures.

It was a moment that highlighted Trump’s escalating pressure on Venezuela—and that kept his intentions uncertain. The campaign reached a new level of intensity this week when Trump ordered a partial blockade of Venezuela’s oil exports and demanded the return of expropriated U.