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The Latest Breaking News from Oil

Ukrainian attack triggers fire at Russian oil terminal

A Ukrainian drone attack has sparked a fire at a Russian oil terminal, as Kyiv continues to target energy facilities that help fund Moscow's four-year-old war.

AAP

Ukrainian drone attack triggers fire at a Russian oil terminal

A Ukrainian drone attack has caused a fire at a Russian oil terminal, according to officials in Russia’s Krasnodar region

The Independent UK

I Loved My Italian Vacation: Here's How I Keep the Roman Glow Going Until the Next Trip

Travel is expensive and stressful these days. Here's how I'm preparing for my next trip to Italy — and how I feel like I'm already there.

Kiplinger

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GOP donor now frontrunner for Texas AG

Mayes Middleton helped fund the right — but that’s nothing next to the money he’s spent on himself

Salon

FIIs sell over Rs 30K crore worth of Indian equities in May as outflows swell to Rs 2.22 lakh crore. What lies ahead?

FIIs have consistently sold Indian equities in 2026, totaling Rs 2.22 lakh crore due to global uncertainty, geopolitical tensions, elevated crude oil prices, and a weaker Rupee. While DIIs are currently supporting the market, future institutional flows will remain sensitive to US–Iran negotiations and oil price volatility.

The Economic Times

Energy, economics and old ties: Why Marco Rubio's Modi meeting matters

US Secretary of State Marco Rubio met Prime Minister Narendra Modi in New Delhi. Discussions focused on energy security amid a global crisis. India is importing record volumes of American energy. The meeting also covered defense and technology. This visit aims to strengthen ties and India's strategic alignment with the…

The Economic Times

All rhetoric, no resilience: Why India is still addicted to ‘majboori’

Earlier this month, Prime Minister Narendra Modi asked Indians to rethink some of their habits. Travel abroad less, work from home when possible, reduce unnecessary imports, and buy less gold.

Newslaundry

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Falling drone debris causes fire at oil terminal in Russia's Novorossiysk

Drone debris ignited a fire at a Novorossiysk oil terminal, injuring two people. Russian officials reported additional drone attacks targeting industrial sites in Perm and Ryazan regions. Ukraine has escalated drone strikes on Russian oil facilities, aiming to disrupt revenue crucial for funding the conflict.

The Economic Times

What if the Strait of Hormuz didn’t reopen?

The Strait of Hormuz, a vital oil route, faces potential prolonged closure. This situation mirrors past disruptions, raising concerns about global energy supplies and economic stability. While diplomatic efforts are underway, the possibility of a lengthy shutdown necessitates careful planning. Nations are exploring alternative routes and stockpiling resources.

The Economic Times

IndianOil says no nationwide fuel shortage; supply issues at some outlets 'highly localised'

Indian Oil Corporation assures no nationwide petrol and diesel shortage, attributing reported outages to localised, temporary demand-supply mismatches. Factors include seasonal harvesting needs, customer shifts from higher-priced private pumps, and increased institutional purchases. The company maintains adequate stocks and is addressing isolated disruptions to ensure uninterrupted supplies.

The Economic Times

A Kristen Stewart heist movie gave me a thirst for adventure - I found it as an engineer on a remote oil rig

The 2004 film Catch That Kid gave me my love of cars. But when my Formula One career stalled, I took on a dangerous job in the middle of the Indian Ocean

The Guardian - UK

Gold on track for second weekly loss as rising oil prices drive up rate hike bets

Gold prices are falling, heading for a second weekly loss. Higher oil prices are fueling inflation worries and boosting chances of a U.S. interest rate hike. Treasury yields are near one-year highs, reducing demand for gold. Other precious metals like silver, platinum, and palladium are also experiencing losses. Consumer sentiment…

The Economic Times

Oil prices settle higher on slow progress in US-Iran peace talks

Oil prices saw a volatile week as hopes for a U.S.-Iran peace deal, which would normalize shipping through the Strait of Hormuz, fluctuated. Despite some positive signals from U.S. officials and Pakistani facilitation, significant gaps remain, particularly on uranium stockpiles. Global oil inventories are depleting rapidly due to the disruption,…

The Economic Times

Stocks climb, yields dip as investors focus on some progress in US-Iran talks

Global stock markets saw gains on Friday. Investors are closely watching talks aimed at resolving the U.S.-Israeli conflict with Iran. Oil prices climbed due to ongoing concerns. U.S. Secretary of State Marco Rubio indicated some progress, but differences remain. Pakistan's military chief is in Tehran for mediation. Wall Street experienced…

The Economic Times

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The Economic Times

Fuel price hikes, West Asia tensions push Indian businesses towards EV transition

Rising crude oil prices are pushing India towards electric vehicles. Businesses are seeking stable operational costs. This shift is driven by economic necessity. Geopolitical instability in West Asia adds to concerns about fossil fuel dependence. India's EV adoption looks strong, driven by policy and cost savings. Fleet operators prefer local…

The Economic Times

'Modi govt looting citizens, only cares about profits of oil companies': Congress laments fresh fuel price hike

Congress criticizes the Centre for recent petrol and diesel price hikes, accusing Prime Minister Modi of burdening citizens while favoring oil companies. Fuel prices have seen multiple increases in less than ten days, with global energy market volatility cited as a contributing factor.

The Economic Times

Marco Rubio's trip to 'great partner' India signals US need to repair ties

U.S. Secretary of State Marco Rubio is visiting India to strengthen a partnership strained by tariffs and renewed U.S. engagement with Pakistan and China. The trip aims to boost trade, energy, and defense cooperation, addressing concerns over trade disputes and India's reliance on Russian oil. Despite efforts to stabilize ties,…

The Economic Times

Fuel Price Today, May 23, 2026: What is the petrol, diesel & CNG price in Delhi, Mumbai, Kolkata & Chennai after latest hike?

Fuel prices in India have seen another hike, with petrol and diesel rates increasing by Rs 0.87 and Rs 0.91 per litre respectively. This marks the third fuel price increase in May, adding to consumer costs. State-run oil companies are facing losses due to selling fuel below market rates, while…

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The Economic Times

Wars, Oil and Wealth: The world adapts faster than we think, lessons for equity investors

India today is a more than four-trillion-dollar economy with stronger external reserves, wider energy relationships, greater diplomatic reach and a far more diversified economic structure than in earlier decades. Higher oil prices may affect inflation, current account balances and near-term sentiment, but they are unlikely to derail the broader growth…

The Economic Times

Pakistan army chief in Tehran as Iran weighs US peace offer

Pakistan's army chief arrived in Tehran for mediation efforts to end the Middle East war, as Iran considers a peace proposal amid reports of potential new US strikes. Diplomacy continues to secure the Strait of Hormuz, a crucial oil transit route, while fighting persists on the Lebanon front.

The Guardian - AU

Ukraine war briefing: Putin promises revenge after blaming Kyiv for Luhansk attack he says killed six

Ukraine dismisses Russian president’s claim, saying attack on dormitory in Russian-controlled region in the east ‘exclusively targeted the Russian war machine’. What we know on day 1,550

The Economic Times

Petrol, diesel prices hiked for third time in eight days on rising crude oil costs

Fuel prices in India have seen another increase, with petrol and diesel rates rising by approximately Rs 0.87 and Rs 0.91 per litre respectively in Delhi. This marks the third hike this month, driven by a surge in international crude oil prices due to Middle East conflict and the expiry…

Reason

President Trump Doesn't Need Congressional Approval for His Actions as to Iran

Congress can only stop Trump’s actions in Iran by passing a concurrent resolution of both Houses over Trump’s veto, or by declining to fund the war in next year’s budget.

Barchart

Cotton Falls into Memorial Day Weekend

Cotton futures were 8 to 56 cents lower in most contracts on Friday, with July down 319 points on the week. December was down 258 points since last Friday. The US dollar index was $0.052 higher at $99.270. Crude oil was up $0.65 on the day to $97.00. The market...

AAP

US stocks close out their 8th straight winning week

The U.S. stock market closed out its eighth straight winning week

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