An oil and gas field processing and drilling site in Ukraine. A new agreement to cut production has now gone into effect. Photograph: Vincent Mundy/Bloomberg

Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between Opec and non-Opec members to cut production will drain a globa(...)

The setting sun illuminates a huge plume of smoke from wildfires burning in the distance rising over Fort McMurray, Alberta, Canada. Photograph: Darryl Dyck/Bloomberg

Oil prices jumped on Thursday as a huge wildfire in Canada disrupted oil sands production, while escalating fighting in Libya threatened the North Afr(...)

Screen grab  from a user generated content video uploaded on social networks on January 5th, 2016 said to show a petroleum storage tank burning at Al-Sidra oil terminal, near Ras Lanuf in the so-called “oil crescent” along Libya’s northern coast. Photograph: AFP Photo/Getty Images

Three days of Islamic State (Isis) attacks on Libya’s biggest oil terminals have started fires that have spread to five massive oil storage tanks, a g(...)