Marathon Petroleum Profit Beats Estimates as Iran War Drives Refining Margins

May 5 (Reuters) – Marathon Petroleum (MPC.N) on Tuesday beat Wall Street estimates for first-quarter profit, benefiting from stronger refining margins amid ​tighter global supply driven by the Middle East…

Middle East Truce in Doubt as US and Iran Fight for Control of Strait of Hormuz

(Reuters) – The fragile truce in the Middle East was in jeopardy on Tuesday after the U.S. and Iran launched new attacks as they wrestled for control of the Strait…

Goldman Sachs: Global Oil Inventories Fall to 8-Year Low

Global oil inventories are crashing and approaching an eight-year low, with the rate of depletion so fast that it exposes the market to further shocks, according to Goldman Sachs. Total…

Norway’s $2.2T Fund Accused of Backing Big Oil

The world’s biggest sovereign wealth fund, Norway’s $2.2-trillion Government Pension Fund Global, has dropped its active voting engagement on climate issues at the biggest oil firms in which it has…

Ships Cluster Off Dubai as Iran Expands Area of Control at Hormuz

About five dozen vessels moved toward Dubai in just one day, joining a growing cluster of at least 363 ships currently off the emirate in the Persian Gulf as Iran…

Ukraine Hits 400,000 bpd Kirishi Refinery in Drone Attack Near St. Petersburg

One of Russia’s largest oil refineries, the 400,000 barrels-per-day Kirishi refinery southeast of St. Petersburg, was on fire early on Tuesday following drone attacks overnight, Bloomberg reports, citing satellite images…

  • Gas
  • May 5, 2026
Airgas acquires Arco Welding Supply in Massachusetts

By 1 hour ago 1 min read Airgas, an Air Liquide company, has acquired Massachusetts-based industrial gas and welding equipment distributor Arco Welding Supply, strengthening its presence in the US…

Gasoline Prices Jump Across All 50 States

Gasoline prices have jumped across all 50 states, GasBuddy noted in a blog posted on its website on Monday. In the blog, GasBuddy revealed that, according to its data, the…

  • Gas
  • May 5, 2026
Ratermann Manufacturing named MDG supplier of the year

© Ratermann Manufacturing By 3 min ago 1 min read Californian industrial and cryogenic equipment supplier Ratermann Manufacturing (Ratermann) has been named supplier of the year by US-based independent distribution…

  • Gas
  • May 5, 2026
Cummins books $199m in charges on hydrogen fuel cell business sale

By 43 min ago 2 min read US engine maker Cummins has logged $199m in charges after selling its low-pressure hydrogen fuel cell business in the first quarter of 2026.…