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The Latest Breaking News from Oil

India's top refiner IOCL scouts stakes in gas carriers as it plans higher US imports

Indian Oil Corporation is seeking to acquire a fifty percent stake in very large gas carriers. This move prepares the company for increased liquefied petroleum gas imports from the United States. Indian state fuel retailers will increase their purchases of U.S. LPG starting from the year 2027. The company is…

The Economic Times

Euro zone bond rally ends as oil surge, Fed decision weigh on investors

European bond markets have largely tracked developments in the Gulf conflict since hostilities began in late February, with movements in energy prices playing a key role in shaping investor sentiment. Market participants are closely monitoring whether a sustained rise in oil prices could fuel broader inflation pressures and prompt central…

The Economic Times

Indian corporates to clock 9% aggregate revenue in FY27: Fitch

Fitch Ratings forecasts Indian corporate revenue to grow nine percent in the current fiscal year. This growth is expected to keep credit metrics for Indian companies stable. Geopolitical tensions and climate risks could impact oil prices and demand for certain sectors. Chemical companies may face higher costs and softer demand…

The Economic Times

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Indian economy shows recovery despite global uncertainties, private investment gains momentum: Report

Demonstrating remarkable resilience, India's economy witnesses a comprehensive recovery across sectors, coupled with an increase in industrial credit. Private sector investment is perking up, fueled by proactive government policies. Indicators reflect stable or improving growth trends in different economic domains. Nonetheless, macroeconomic uncertainty looms from external elements like oil prices…

The Economic Times

India's energy security at risk from Hormuz-Red Sea double squeeze, says CareEdge Ratings

India faces significant energy security risks from chokepoint disruptions. A dual closure could push Brent crude prices to $130-135 per barrel. This scenario threatens inflation and the Indian rupee's stability. Smaller businesses are particularly exposed to rising costs and liquidity stress. Global supply chains and India's trade balance would experience…

The Economic Times

Reckitt raising prices to offset cost pressures amid Iran war

The group said it was pushing through ‘moderate’ price increases in most of its markets, including the UK.

Evening Standard

Oil jumps after Iran attempts ‘surprise attack’; chip stocks slump further as AI sell-off continues – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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India bonds tiptoe along ahead of Fed meet; oil prices weigh

Indian government bonds traded range-bound early Wednesday as investors awaited the Fed's rate decision. Oil prices climbed, reviving concerns about the Gulf conflict and global economic impact. The Reserve Bank of India's policy decision is due next week, with rates expected to remain unchanged. India's financial conditions have tightened recently…

The Economic Times

Mooted WA oil refinery ‘dinosaur technology’ amid clean energy transition, experts say

A feasibility study for the Western Australian project will show the project is uneconomic and requires government subsidies, experts say

The Guardian - AU

Rupee cushioned by state-run bank dollar offers as futures expiry bites

The Indian rupee strengthened on Wednesday as banks sold dollars. Dollar demand from futures expiry exerted some pressure on the currency. Oil prices climbed nearly four percent after recent sharp declines. Traders watched for the US Federal Reserve's monetary policy decision. Markets anticipate the Fed will likely keep interest rates…

The Economic Times

Australia hasn’t built an oil refinery in decades. But that could change

The Australian government this week announced plans to construct a new large-scale oil refinery in Western Australia. If approved, it would be the first refinery to be built since the 1960s.

The Conversation

Global Market: Japan's Nikkei swings between gains and losses as AI stock selloff persists

Japan's Nikkei index saw mixed trading as investors awaited major US tech earnings. AI and chip-related stocks continued to face pressure, tracking global weakness. Geopolitical tensions in the Middle East also contributed to market uncertainty and rising oil prices. However, strong earnings from select companies like Keyence provided some support.…

The Economic Times

Three easy bean salad recipes to make all summer long

Bold Bean Co’s Amelia Christie-Miller gives pulses their moment in these fresh, filling summer salads, writes Hannah Twiggs, from sumac-roasted chickpeas to honey-glazed halloumi and juicy tomatoes

The Independent UK

Iran-US war latest: Trump resumes ‘heavy waves of strikes’ on Iran after vowing to avenge surprise missile attack

Iran targeted US bases in Jordan and claims to have struck three tankers in Strait of Hormuz

The Independent UK

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Bangkok Post

US and Saudis strike Iraq militants in expanding war

BAGHDAD - US and Saudi forces said they struck an Iraqi militant alliance on Wednesday, as the Middle East war expands beyond its main focus in Iran to involve the Islamic republic’s proxies.

The Economic Times

Global Market: Warning signals flash red as oil, AI concerns and debt risks rattle investors

Several key market warning indicators are approaching crisis levels now. Elevated oil prices and geopolitical uncertainty fuel inflation concerns for consumers. The powerful artificial intelligence stock rally faces increasing scrutiny over its sustainability. Bond yields remain high, and margin debt has reached record levels. Investors closely monitor these signals for…

The Times of India

Middle East war escalates: Multiple dead in US-Saudi strikes in Iraq; Iran targets Hormuz ships - top developments

United States and Saudi Arabia launched joint strikes on Iran-backed groups in Iraq. Iran claimed to have intercepted oil tankers and fired missiles at US installations. Eight Iraqi PMF members were killed in the joint US-Saudi attacks. Oil prices climbed amid concerns over energy supply disruptions. Diplomatic efforts continue as…

The Economic Times

Rupee rises 5 paise to 95.77 against US dollar in early trade

The rupee strengthened by five paise to 95.77 against the US dollar on Wednesday. This appreciation marks the fourth consecutive day of gains for the Indian currency. Foreign institutional investors turned to buying Indian stocks, supporting the local market sentiment. Meanwhile, the dollar index traded lower ahead of Federal Reserve…

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The Economic Times

Why did market rise today? Sensex soars 890 pts, Nifty closes above 24,250; 4 factors behind Rs 4 lakh cr gains on D-Street

Indian stock markets experienced a significant surge on Wednesday, with Sensex and Nifty rising over one percent. This rise occurred despite escalating US-Iran tensions and a sharp increase in global oil prices. Key factors contributing to the market's upward movement included a global AI selloff and a strengthening rupee. Foreign…

The Economic Times

Ships transiting via Bab el-Mandeb strait at highest in a week, data shows

Thirty-seven commodity ships passed through the Bab el-Mandeb strait on Tuesday, a notable increase. Only a few vessels transited the Strait of Hormuz, indicating a shift in shipping routes. Yemen's Houthis claimed missile attacks on a Saudi oil tanker in the Red Sea. China has engaged in direct talks with…

The Independent UK

Despite frustration over high prices, Federal Reserve is expected to keep rates unchanged -- for now

Federal Reserve policymakers are losing patience with inflation, which has been stuck above their 2% target for more than five years

The Economic Times

Erdogan says Turkey could get 1M barrels of oil a day from energy deal with Iraq

Turkey and Iraq are discussing a significant energy cooperation plan. This agreement could potentially bring one million barrels of oil daily. Both nations also addressed security concerns and joint infrastructure projects. The Iraqi Prime Minister's visit follows trips to Washington and Tehran. Discussions also touched upon efforts to end the…

The Economic Times

100% tariff threat for India and others: US Senate advances Russia sanctions bill

The US Senate overwhelmingly advanced a bipartisan sanctions bill targeting Russian energy buyers. This legislation grants President Trump broad powers to impose new tariffs on Moscow. India and China are among the largest buyers of Russian crude oil and natural gas. The bill also extends sanctions against Iran and broadens…

The Conversation

Australian inflation has eased a little. An August interest rate rise now looks unlikely

Today’s inflation figures showed inflation pressures have eased, just a day after the Reserve Bank of Australia (RBA) warned inflation was still too high.

France 24

US to hit Iran 'hard' after attack on bases in Jordan, Trump says

US President Donald Trump on Wednesday said the US military will be hitting Iran "hard" after a missile attack against US bases in Jordan, according to Fox News. Earlier, Iranian state television said the US struck a city in the country's northwest in the Piranshahr border area with Iraq. Read…

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