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The Latest Breaking News from Oil

At the gates of Hormuz, 80 million barrels of oil are on standby

Large volumes of crude oil are waiting in the Persian Gulf and are ready to move through the Strait of Hormuz if shipping activity resumes following an interim US-Iran agreement aimed at restoring transit in the waterway.

The Economic Times

Black rain, smoke over Moscow: Russia-Ukraine trade bombs, drones and missiles as war intensifies

Ukraine launched a significant drone attack on a major Moscow oil refinery, causing a large fire and disrupting airport operations. This strike, occurring after pledges of Western support, underscores Kyiv's strategy to pressure Russia's energy infrastructure and escalate the conflict's domestic impact.

The Times of India

Vedanta Aluminium, other demerged stocks surge up to 5%. Which has been the best performer since market debut?

Vedanta’s newly listed demerged entities outperformed the broader market on Friday, with shares of Vedanta Aluminium Metal, Vedanta Iron and Steel, Vedanta Power and Vedanta Oil and Gas rising up to 5%. The rally comes days after their market debut following Vedanta’s mega demerger.

The Economic Times

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AI Euphoria, Fed Signals and Oil Politics: David Roche warns markets may be ignoring bigger risks

Global markets are optimistic about AI and easing inflation, but David Roche warns of deeper structural risks. He believes the AI investment boom is unsustainable and the recent oil deal, while lowering prices, strengthens Iran's strategic position. Roche anticipates inflation will remain contained due to falling oil prices and the…

The Economic Times

MTAR Technologies shares surge 5%, deliver multibagger returns of 138% in just 3 months

MTAR Technologies shares surged to a fresh 52-week high, extending a remarkable 138% rally in three months. Strong international order wins, upgraded FY27 revenue guidance of over 80%, robust earnings growth, and expanding opportunities in clean energy, aerospace, nuclear, and oil & gas have fueled investor enthusiasm.

The Economic Times

Rupee rises 20 paise to 94.20 against US dollar in early trade

The rupee strengthened by 20 paise to 94.20 against the US dollar in early trade on Friday, fueled by optimism surrounding India-US trade negotiations. Positive foreign inflows and supportive oil prices contributed to the rupee's upward momentum. Officials indicated that negotiators are working to finalize a proposed trade pact soon.

The Economic Times

The U.S. and Iran have signed a peace deal. How long will it take for oil flows in Asia to return to normal?

Even with the Strait of Hormuz open, it will take months for oil flows and prices to return to pre-war levels.

Fortune

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Indian refiners sitting on enough crude, in no rush to resume purchases from West Asia

India's state-run refiners have secured enough crude for two months. They are not rushing to buy from the Middle East even if the Strait of Hormuz reopens. Suppliers have asked them to resume contractual volumes. Refiners have not yet committed. India's imports from the Middle East fell significantly in the…

The Economic Times

India's consumption story coming back to life and the timing couldn't be better: Ashi Anand

Indian consumers are set for a strong recovery. Falling interest rates and potential oil price drops are boosting confidence. Tax cuts are already in place. This positive shift is expected to drive spending across various sectors. Experts see this as a broad-based improvement. Digital platforms are also highlighted as a…

The Economic Times

Gas expansion in the guise of security: Is Europe making the energy crisis permanent?

Flexible power and energy security are being used to lock Europe deeper into fossil fuels, a new report warns.

Euronews

Asian shares retreat in thin holiday trading after a tech-led rally on Wall St

Shares have retreated in Asia after U.S. stocks recouped most of their losses from a day earlier

AAP

'Black Rain' Falls Over Moscow After Ukrainian Drone Strike Hits Oil Refinery 15km From Kremlin

A Ukrainian drone strike on Moscow's oil refinery caused soot fallout across the city, raising environmental concerns. The attack is part of ongoing military operations between Russia and Ukraine.

International Business Times UK

Ukraine-Russia war latest: Fuel sales halted after Kyiv strikes both sides of Crimean bridge

Fuel supplies in occupied Crimea have been restricted to essential government agencies

The Independent UK

Black rain in Moscow after Ukrainian drone strike damages oil refinery, Zelenskyy says if Ukraine burns so will Moscow

Ukraine launched a massive drone attack on Russia, hitting a refinery in Moscow. Residents reported black residue falling from the sky. Authorities advised people to stay indoors. The attack damaged the refinery and caused fires. Russia intercepted hundreds of drones. This strike is seen as a response to an earlier…

The Economic Times

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The Economic Times

Global Markets: Central banks stay vigilant despite oil price relief after US-Iran truce

Global central banks remain cautious despite easing oil prices following the US-Iran truce. While lower energy costs ease inflation fears, G10 policymakers continue to signal possible rate hikes if price pressures persist. Diverging monetary paths across the US, Europe and Asia highlight an ongoing global fight against inflation.

The Economic Times

Ample world inventories may soften El Nino food supply shock

A potential super El Niño is expected to disrupt global weather patterns and threaten agricultural output in the coming months, but large existing food inventories and strong harvests in key producing regions may soften the impact.

The Independent UK

Iran-US war latest: Trump warns Tehran ‘we will take over your country’ if the Strait of Hormuz is closed

US president’s threats come as Vance joins other US officials in Zurich to hammer out peace deal terms with a battery of Tehran's leaders

AAP

Global stocks dip after US-Iran peace talks delay

World shares have fallen into negative territory and oil has erased its earlier losses after the US and Iran called off planned negotiations in Switzerland.

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The Economic Times

US-Iran war: There are many questions about the peace deal. Here are (some) answers.

US-Iran deal: A new agreement between the United States and Tehran aims to end the war and reopen the vital Strait of Hormuz. Sanctions on Iran will be eased, and nuclear talks will restart. A 60-day deadline is set for these crucial steps. However, many significant issues from the recent…

The Economic Times

Oil Price Today (June 19): Crude oil falls, heads for 9% weekly loss as shipping in Hormuz Strait begins. What are experts saying?

Brent crude slipped toward $79 a barrel and is down more than 9% for the week. West Texas Intermediate for August was trading near $76 a barrel. This comes after tankers carrying previously stranded cargoes started moving through the waterway on Thursday, while Kuwait said it would begin increasing production.

Evening Standard

Tories in ‘seismic’ by-election win as Flynn calls for SNP reflection

The SNP’s vote almost halved compared to the 2024 election.

The Independent UK

Scottish Conservatives win first Westminster by-election in more than 50 years

Douglas Lumsden said it was a ‘seismic’ victory after claiming the seat in the early hours of Friday morning

The Economic Times

Oil falls as supply starts moving through Strait of Hormuz

Oil prices dipped Friday as tankers resumed passage through the Strait of Hormuz following a U.S.-Iran peace deal. The agreement is expected to release millions of barrels of oil and lift sanctions, increasing global supply. While some producers are ready to resume exports, ongoing conflict in Lebanon casts doubt on…

AAP

White House postpones sending Vance to Switzerland for talks with Iran negotiators

The White House says Vice President JD Vance isn't leaving Thursday for Switzerland to lead a new round of talks with Iran about its nuclear program, citing difficult logistics for negotiations meant to add details to an agreement signed by President Donald Trump a day ago

The Economic Times

Global Market Today: Asian stocks hit record highs, oil heads for weekly loss

Asian stocks reached a record high, fueled by optimism that the reopening of the Strait of Hormuz will normalize oil flows and ease inflation. This development, coupled with positive semiconductor news, boosted investor confidence. Lower energy costs are also easing concerns about future interest rate hikes.

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