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The Latest Breaking News from Oil

Brent crude jumps 7%, climbs over $90 on escalating Middle East strikes

Oil prices surged significantly amid renewed Middle East airstrikes and supply concerns. U.S. crude inventories dropped to a multi-year low, further impacting market sentiment. Military actions in the Strait of Hormuz and surrounding regions contributed to price volatility. Analysts predict oil prices will fluctuate within a broad range in the…

The Economic Times

In 1982, a deadly flood exposed one of America's worst toxic disasters. Here's what happened to Times Beach, Missouri

In 1982, a deadly flood exposed one of America's worst toxic disasters. Here's what happened to Times Beach, Missouri

Times Beach faced a major environmental disaster due to dioxin-contaminated waste oil. Flooding in 1982 spread the toxic contamination across the entire town. A federal buyout and extensive Superfund cleanup efforts followed the disaster. Thousands of tons of contaminated soil were incinerated as part of the remediation. The former town…

The Economic Times

Many Foods Labeled 'Made with Avocado Oil' May Contain Different Oils, UC Davis Reports

Many Foods Labeled 'Made with Avocado Oil' May Contain Different Oils, UC Davis Reports

UC Davis tested 54 processed foods labeled with avocado oil and found 48 adulterated with cheaper oils. Olive oil products failed once in 20.

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Ahead of Market: 10 things that will decide stock market action on Thursday

Indian equities rallied sharply as Sensex gained 889 points and Nifty topped 24,250, adding over Rs 4 lakh crore in market value. Strong IIP data, IT and metal buying, bullish technical indicators and improving FII sentiment outweighed geopolitical concerns and higher oil prices.

The Economic Times

Crude Oil Prices Soar as US-Iran Tensions Escalate

September WTI crude oil (CLU26 ) today is up +5.31 (+6.70%), and September RBOB gasoline (RBU26 ) is up -0.0802 (+2.55%). Crude oil and gasoline prices are soaring today amid a fresh round of hostilities in the Middle East, which threatens global energy supplies. Gains in crude accelerated after President...

Fed expected to keep rates unchanged for now despite high prices

Federal Reserve policymakers are growing impatient with inflation , which has remained above their 2% target for over five years, though they are widely expected to keep benchmark interest rates unchanged at their meeting on Wednesday. While an immediate rate hike is unlikely, there is a strong consensus among Wall…

The Independent UK

US Federal Reserve expected to hold rates as Iran war clouds inflation outlook

The US Federal Reserve is expected to keep interest rates unchanged, with markets increasingly pricing in a September hike. Persistent inflation, geopolitical tensions, elevated oil prices and upcoming economic data continue to shape policymakers’ outlook and strengthen the case for tighter monetary policy.

The Economic Times

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Ukraine’s drone strikes are having an impact on Russia — but Russian leaders remain committed to war

Ukraine’s drone strikes are having an impact on Russia — but Russian leaders remain committed to war

In recent months, Ukrainian forces have launched drone strikes deeper into Russia and Crimea. These strikes, dubbed “long-range sanctions” by Ukrainian President Volodymyr Zelenskyy, have predominantly hit notable military targets — oil refineries, communications hubs and industries directly funding the Russian war effort.

The Conversation

Stocks Tumble as Chipmakers Plunge, Oil Spikes

Stocks Tumble as Chipmakers Plunge, Oil Spikes

The S&P 500 Index ($SPX ) (SPY ) today is down -0.71%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -1.53%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.98%. September E-mini S&P futures (ESU26 ) are down -0.75%, and September E-mini Nasdaq futures...

Iran resumes missile attacks as US and Saudis strike Tehran-backed militias in Iraq

Iran resumes missile attacks as US and Saudis strike Tehran-backed militias in Iraq

The flare-up on multiple fronts, after several days of relative calm, raised the risk of a return to all-out war. It also underscored the difficulty of winding down a five-month conflict that has jolted the world economy and is unpopular among Americans.

The Economic Times

'They are the main culprits': US Senator on bill that imposes up to 100% tariffs on India, China

'They are the main culprits': US Senator on bill that imposes up to 100% tariffs on India, China

US Senator Richard Blumenthal defended proposed legislation that would allow President Donald Trump to impose tariffs of up to 100 per cent on major buyers of Russian oil and gas, saying the measure is designed to target countries such as India and China rather than US allies.

The Times of India

3 Refiners Benefiting From Oil Volatility and Tight Fuel Supply

3 Refiners Benefiting From Oil Volatility and Tight Fuel Supply

As crack spreads widen amid tight refining capacity, Delek U.S. Holdings, PBF Energy, and Par Pacific Holdings post strong YTD gains ahead of their upcoming Q2 earnings reports.

Dollar Little Changed Ahead of FOMC Meeting Results

Dollar Little Changed Ahead of FOMC Meeting Results

The dollar index (DXY00 ) is down by -0.02% today. The dollar recovered from overnight losses and is little changed after crude oil prices surged more than +6% when President Trump said the US will "hit Iran hard" after a recent attack from Iran that targeted a US base in...

‘People just don’t see it’: Trump’s midterms messaging sounds a lot like Biden

‘People just don’t see it’: Trump’s midterms messaging sounds a lot like Biden

ANALYSIS — President Donald Trump could be falling into some of the same messaging potholes as his predecessor, regularly telling voters to trust him on war and the economy ahead of November’s elections as he places big bets and pushes unproven predictions. As he repeatedly shrugs off voters’ concerns about…

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Stocks Pressured by Renewed US-Iran Hostilities

The S&P 500 Index ($SPX ) (SPY ) today is down -0.18%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.85%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.23%. September E-mini S&P futures (ESU26 ) are down -0.25%, and September E-mini Nasdaq futures...

The Economic Times

US Treasury yields rise after three-day fall as oil jumps, Fed decision looms

As oil prices surged, treasury yields took notice, raising inflation worries in the market. Traders are keeping a watchful eye on the Federal Reserve's expected decision to maintain interest rates today. Nonetheless, traders are fully anticipating a hike in September, with a solid possibility of another increase before the year's…

The Economic Times

Euro zone bonds snap three-day rally, yields rise with oil

As oil prices surged on Wednesday, Euro zone government bonds experienced a decline. Heightened hostilities in the Middle East were a major factor driving Brent crude upward. Economists are keenly observing energy trends for signs of inflation that might influence monetary policy changes, contributing to traders’ nervousness surrounding the upcoming…

The Economic Times

Higher crude oil prices could hit India's fiscal health, finance ministry says

India's finance ministry warns of rising crude oil prices impacting fiscal and trade balances. Persistent geopolitical tensions in West Asia present key risks to the nation's economy. The country's external sector remains resilient, supported by strong exports and services trade. Foreign exchange reserves stand at $675.2 billion, offering a significant…

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The Economic Times

India bonds slip as oil prices hurt; Fed verdict in focus

On Wednesday, Indian government bonds took a hit due to renewed U.S. airstrikes in the Middle East, escalating tensions in the Gulf region. This escalation has led to a spike in oil prices and increased U.S. Treasury yields. The rising crude prices pose challenges for India's inflation, fiscal health, and…

Cotton Showing Modest Wednesday Morning Weakness

Cotton price action is down 50 to 62 points so far on Wednesday. Futures closed with losses of 3 to 45 points across the board on Tuesday, slipping from the midday gains. Crude oil was down another $3.48 per barrel, with the US dollar index down 0.109. Weekly Crop Progress...

International Business Times

Iran Ended The Pause In Fighting With The U.S. With New Strikes. Oil Jumped As a Result

Oil is jumping on Wednesday after Iran resumed attacks against the U.S. after a brief lull in fighting.

The National (Scotland)

Andy Burnham urged to 'listen to the experts' and block major oil field licences

THE new Prime Minister has been urged to "listen to the experts" warning him of the environmental toll new North Sea licensing would have

The Economic Times

Market wrap: Jio Financial, HUL among top gainers and losers on Nifty and Sensex on Wednesday

Indian benchmark indices rallied over 1% as Sensex climbed 889 points and Nifty crossed 24,250, adding Rs 4 lakh crore in market value. Strong IIP data, optimism over FII inflows and gains in IT and metal stocks outweighed rising geopolitical tensions and oil prices.

The Times of India

Beneath the ocean lie 8,500 forgotten WWII shipwrecks. Many are still filled with oil

Scattered across the ocean floor worldwide are more than 8,500 shipwrecks classified as potentially polluting, most dating back to World War I and World War II, still carrying an estimated 6 billion gallons of heavy fuel oil within their corroding hulls. As these vessels approach or pass the century mark…

International Business Times

America's Emergency Oil Reserve Keeps Falling To Decade Lows. Auditors Warn It May Not Be Ready For Another Crisis

The U.S: Strategic Petroleum Reserve fell this week to its lowest level since March 1983 after the federal government withdrew a total of 352 million barrels of crude oil over the past four years to respond to geopolitical conflicts.

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