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The Latest Breaking News from Oil

Hormuz Shut, Lebanon In Dire Straits, Peace Talks Steer To Swiss Setting

Iran said on Saturday it has shut the Strait of Hormuz just days after a peace deal to end hostilities in the Middle East was signed with the US, in response to Israeli strikes in Lebanon that killed dozens.

International Business Times

No real spike in petrol, diesel prices in India despite global crude oil market volatility: Hardeep Singh Puri

Addressing a press conference during his visit to Sonbhadra as part of the Centre's campaign marking 12 years of the Narendra Modi government, Puri further said that Sonbhadra in Uttar Pradesh is shedding its image of being a backward region and is moving towards becoming a model district.

The Economic Times

Iraq projects oil production to return to pre-war levels within two months

Iraq anticipates a swift return to pre-war oil production levels within two months, following a recent US-Iran deal that eased the Strait of Hormuz blockade. The conflict had severely impacted exports, forcing production cuts. As shipments resume through the vital waterway, Iraq's oil ministry is optimistic about restoring its significant…

The Economic Times

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MarketBeat Week in Review – 06/15 - 06/19

Markets closed a shortened week higher as lower oil prices and a rally in chip stocks outweighed concerns about future Fed policy.

MarketBeat

‘Thought That Walmart Would Have Everything’: Woman Gets Oil Changed At Walmart. Then She Goes To Advance Auto Parts

'Why should I need to go to an auto parts store to take parts to an auto parts store?'

Motor1

A $60 billion windfall? How US-Iran deal could revive Tehran's oil industry

The easing of restrictions to roll back a sanctions regime that was built over more than a decade to isolate Iran economically and curb its nuclear ambitions. The move could allow Tehran to expand sales to a wider pool of buyers after years of relying largely on discounted shipments through…

The Times of India

The woman who turned cooking oil into soap in Gaza

INDEPENDENT ARABIA: Ezz Al Din Abu Eisha reports on how highly skilled women who have lost everything are at the forefront of Gaza’s new ‘resilience economy’

The Independent UK

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Tory byelection victory gives Badenoch vital evidence to justify abandoning net zero

While the SNP’s recent issues put off some voters, the Tories’ support for North Sea oil drilling proved more decisive

The Guardian - UK

Dr Emily Prpa Makes Healthy Eating Feel Effortless—11 Simple Recipes She Swears By

If they’re good enough for a scientist…

Marie Claire

Ceasefire hopes between US and Iran drag oil prices lower: What lies ahead?

The recent decline in oil prices is primarily driven by fading fears of supply disruptions. Earlier, markets had priced in worst-case scenarios, including a prolonged conflict and potential blockage of critical energy trade routes. However, as ceasefire negotiations progressed, traders began unwinding these risk premiums.

The Economic Times

Iranian Guards' business empire to win big if US sanctions lifted

A potential deal to end the war between Washington and Tehran presents a paradox: sanctions relief could significantly empower Iran's Revolutionary Guards, a group designated as terrorist by the US and its allies. These elite forces have built a vast commercial empire and are poised to benefit immensely from renewed…

The Economic Times

5 world market themes for the week ahead

Global markets are watching closely as a U.S.-Iran deal faces crucial weeks. Key economic data from the U.S. and Australia, along with Colombia's presidential election, will shape investor sentiment. London's major climate gathering also highlights energy security concerns amid geopolitical tensions and rising AI power demands. Investors are keenly awaiting…

The Economic Times

Ukraine war briefing: Zelenskyy to Belarus – remove Russian relay stations or ‘we’ll do it’

Zelenskyy says a week should be enough time for Belarus to remove stations, calls for a stop to refined oil supplies to Russian army. What we know on day 1,578

The Guardian - AU

Strait of Hormuz to be closed again? What is happening with strait that carries nearly a fifth of global crude oil and liquefied natural gas supplies

Strait of Hormuz carried nearly a fifth of global crude oil and liquefied natural gas supplies before it was blockaded by Iran during the war.

The Economic Times

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Motor1

Woman Buys STP Oil At Autozone. Then She Tries To Use Her Dad‘s Points: 'Don't Tell Him'

'Am I a bad daughter?'

Reason

The U.S. and Iran Are Exchanging Nuclear Concessions for Economic Relief. That's Compromise, Not Surrender.

Hawks don’t understand what diplomacy is: Both sides give something up and both sides get something in return.

The Economic Times

Cuba unveils historic package of free-market reforms

In a landmark speech to National Assembly, Prime Minister Manuel Marrero detailed 176 measures aimed at rolling back the state's role in the economy and attracting investment in everything from banking to tourism and agriculture. These huge changes come as the United States exerts strong pressure on Cuba aside from…

International Business Times

Oil Tanker Traffic Through Strait Of Hormuz Climbs After US-Iran Deal Reopens Key Shipping Route

Iranian oil tankers that went dark during the conflict have resumed transmitting their locations as crude exports begin moving again.

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The Times of India

Andy Burnham wins resounding victory in UK byelection, putting him closer to No. 10 keys

Andy Burnham secured a decisive victory in the Makerfield byelection, fueling speculation of a Labour leadership challenge and a potential bid for Prime Minister. Despite calls for his resignation, Keir Starmer remains defiant, vowing to contest any leadership contest. Meanwhile, the Conservatives celebrated a significant byelection win in South Aberdeen,…

Bangkok Post

Investors take profits after Asian rallies

RECAP: Asian shares reversed course and fell yesterday as investors ‌took profits after record rallies in Japan and South Korea, while signs of an early snag in US-Iran talks lifted oil prices and the dollar.

AAP

Israel and Hezbollah agree to halt fighting as talks between the US and Iran hang in the balance

Israel and the Hezbollah militant group agreed to stop attacking each other, officials said, after talks between the U.S. and Iran were called off because of intense fighting in southern Lebanon

The National (Scotland)

What next for SNP policy on oil and gas after crushing Aberdeen by-election defeat?

AFTER any election defeat, the initial reaction from most political figures is always something along the lines of: “Lessons to be learned. A soul…

AAP

Analysis: A confident Iran is pressing its advantage, but challenges loom

Iran sees the interim deal with the U.S. as a strategic win, allowing it to sell oil globally and press its advantage

The Economic Times

US push to get Iran talks started hits an early bump due to intense fighting in Lebanon

High-stakes talks between the US and Iran have stalled as Tehran demands an end to Israeli strikes in Lebanon before negotiations can begin. Vice President Vance's planned trip to Switzerland was postponed amid escalating violence. President Trump expressed confidence in the 60-day negotiation window, while Iran's supreme leader endorsed direct…

The Guardian - AU

Electric is the new normal as growing secondhand EV market helps Australian car buyers shift gear

Lower-cost Chinese brands entered the market, the oil crisis pushed up petrol prices, and now a third of all car sales are EV or hybrid

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