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The Latest Breaking News from crude oil

Fuel price hike may become inevitable amid rising crude stress: MK Surana

India's oil marketing companies face escalating under-recoveries due to persistent crude oil supply disruptions and an uncertain global market. Industry veteran MK Surana warns of intensifying financial stress, suggesting a potential retail fuel price hike may become inevitable to manage the growing burden on fuel retailers.

The Economic Times

Why Experts Fear India’s Toughest Economic Phase Yet

A single statement from banker Uday Kotak has suddenly sparked fear across India’s business and financial circles. “The shock is coming,” he warned while speaking about the growing Iran conflict and India’s dangerous dependence on imported oil. At first, it sounded like just another economic caution. But when India’s top…

MyLifeXP

India raises gold import duty back to 15%: What’s behind the move

India has significantly raised import duties on gold, silver, and platinum. This move aims to safeguard the nation's economy and foreign exchange reserves. The government prioritises essential imports like crude oil and fertilisers. This decision reflects a proactive approach to manage external risks.

The Economic Times

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Oil Price Today (May 13): Crude oil snaps 3-day fall ahead of Trump’s China visit. What are experts saying?

Oil prices dipped after a three-day climb as investors monitored the fragile Iran ceasefire and an upcoming U.S.-China summit. The Strait of Hormuz remains effectively shut, impacting global supply and raising inflation concerns, with analysts warning of further price surges if disruptions persist.

The Economic Times

Cotton Retreats on Tuesday

Cotton futures closed the Tuesday session with front months down 105 to 145 points. The US dollar index was $0.366 higher at $98.190. Crude oil was up $2.83 at $102.05 at the close. The annual USDA Cotton Ginnings report showed a total of 13.539 million RB ginned for the 2025/26...

Barchart

Weak Stocks and Crude Oil Strength Lift the Dollar

The dollar index (DXY00 ) on Tuesday rose by +0.34%. The dollar moved higher on Tuesday amid renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on “life support.” Tuesday’s +4% surge in crude oil prices also boosted inflation expectations and may...

Barchart

Crude Oil Prices Surge on Concern Over Prolonged Closure of Hormuz

June WTI crude oil (CLM26 ) on Tuesday closed up +4.11 (+4.19%), and June RBOB gasoline (RBM26 ) closed up +0.0979 (+2.72%). Crude oil and gasoline prices settled sharply higher for a second day on Tuesday after President Trump cast doubt over the ceasefire with Iran, which could lead to...

Barchart

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Cotton Slipping on Tuesday as Old Crop Stocks Remain Steady

Cotton futures are pulling back on Tuesday, with contracts down 73 to 88 points so far on the session. The US dollar index is $0.441 higher at $98.265. Crude oil is up $3.78 at $101.85 at midday. The annual USDA Cotton Ginnings report showed a total of 13.539 million RB...

Barchart

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

Barchart

Stocks Retreat as Oil Prices Surge and Inflation Accelerates

The S&P 500 Index ($SPX ) (SPY ) today is down -0.74%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.55%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.45%. June E-mini S&P futures (ESM26 ) are down -0.74%, and June E-mini Nasdaq futures...

Barchart

Suspending federal gas tax wouldn’t save drivers as much as they might hope – here’s what goes into the price of a gallon of gas

With gasoline prices still high – averaging over US$4.50 a gallon in mid-May 2026 – President Donald Trump said he wanted Congress to suspend the federal gas tax, which is 18.4 cents a gallon for gasoline and 24.3 cents a gallon for diesel. A bill has been introduced in the…

The Conversation

Dollar Rallies on Crude Oil Strength as Hot US CPI Report

The dollar index (DXY00 ) today is up by +0.45%. The dollar is climbing today on renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on "life support." Today's +3% surge in crude oil prices also boosts inflation expectations and may prompt...

Barchart

Stocks Pressured by Rising Oil Prices and Accelerating Inflation

The S&P 500 Index ($SPX ) (SPY ) today is down -0.44%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.74%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.72%. June E-mini S&P futures (ESM26 ) are down -0.38%, and June E-mini Nasdaq futures...

Barchart

Current price of oil as of May 12, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

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Barchart

Cotton Pulling Back Early on Tuesday

Cotton prices are down 95 to 110 points so far on Tuesday morning. Futures rallied 152 to 304 points across most contracts on Monday, with some deferreds lower. The US dollar index was $0.016 higher at $97.800. Crude oil was up $2.83 at $98.25 on Monday. NASS Crop Progress data...

The Economic Times

Sensex dips 3,400 points in 4 days. Is this the beginning of a bigger crash?

Indian equity markets fell for a fourth straight session as rising crude oil prices, geopolitical tensions, FII selling, and a record-low rupee triggered sharp losses across benchmark, midcap, and smallcap indices. Analysts warned volatility may persist unless global tensions ease and inflation concerns stabilise.

The Economic Times

Oil market enters tight supply phase after years of underinvestment: Nikhil Bhandari

Global energy markets are entering a structurally tighter phase due to years of underinvestment in crude oil and refining. While renewables are growing, grid constraints persist, and downstream product shortages are emerging, signaling a multi-year squeeze across the energy sector.

The Economic Times

Explained: Why Vedanta shares are up 4% after government's royalty cut on crude oil

Vedanta shares rallied after the Centre reduced royalty rates on crude oil and natural gas production, a move expected to lower costs for the company’s Rajasthan fields and support upstream exploration. Brokerage CLSA said the royalty cut could significantly benefit Vedanta, while investors also await the listing of its demerged…

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The Economic Times

ONGC shares rally 6% after govt cuts crude oil royalty; CLSA explains why it’s a big boost

ONGC shares surged 6% after CLSA termed the government’s decision to cut crude oil and natural gas royalty rates a major positive for upstream producers. The brokerage said the move could raise ONGC’s fair value by 7-9% and Oil India’s by 9-11%. Oil India shares also gained 7.5%, while CLSA…

The Economic Times

PM Modi doesn't want you to buy gold for next 1 year. A bigger crash on the cards?

Prime Minister Modi urged Indians to avoid buying gold for a year, a move seen as an attempt to protect foreign exchange reserves amidst global uncertainty and rising crude oil prices. While jewellery stocks saw a knee-jerk reaction, experts believe the appeal may cause temporary caution rather than alter India's…

The Economic Times

Silver gains Rs 3,100/kg, gold at Rs 1.54 lakh/10g ahead of US inflation data, fading peace talk hopes. What should you do?

Gold and silver prices rose on MCX Tuesday as investors turned cautious ahead of key U.S. inflation data. Weakening hopes of a U.S.-Iran peace deal lifted crude oil prices, fuelling concerns that persistent inflation could keep global interest rates higher for longer.

The Economic Times

Don't go all in right now; Systematix bets on PSU banks, IT, and defence, avoids realty and jewellery

Geopolitical tensions necessitate a disciplined, diversified investment approach, according to Systematix Group's Nikhil Khandelwal. He advises a staggered capital deployment over three to six months, emphasizing crude oil and the rupee as key variables. Khandelwal favors PSU banks, IT, and capital goods for their resilience and valuation, while cautioning against…

The Economic Times

Petrol, Diesel prices today hiked? Check the latest rates in Delhi, Mumbai, Kolkata and other cities as OMCs bleed Rs 1,000 crore per day

Petrol, Diesel prices today (May 12): Petrol and diesel prices remained steady on May 12, 2026, despite rising concerns over India's energy security and escalating crude oil prices. The government is absorbing daily losses to shield consumers, while urging citizens to curb fuel consumption amid Middle East tensions. India maintains…

The Economic Times

Oil Price Today (May 12): Crude oil at $105 as Donald Trump says peace talks on ‘life support’. What are experts saying?

Oil prices rose for a second day as uncertainty surrounding U.S.-Iran conflict resolution kept global crude supply concerns high. President Trump indicated ceasefire talks are struggling, while the U.S. plans to release oil from its reserves. Market attention now shifts to Trump's China visit, with hopes of leveraging influence for…

The Economic Times

India cuts royalty burden on oil and gas producers in push for domestic output

India's Centre has lowered royalty rates for crude oil and natural gas production. This move aims to encourage more domestic exploration and production. Deepwater and ultra-deepwater fields will see significant royalty reductions. New policies offer zero royalty for initial years in these challenging areas.

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