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The Latest Breaking News from Oil

Current price of oil as of May 22, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Why Corpus Christi faces a looming water shortage, and what might help

Corpus Christi, Texas, home to the nation’s largest oil export hub, and its surrounding Coastal Bend area are in a water shortage that has residents, businesses, and industry carefully monitoring their water use and worried about a growing crisis.

The Conversation

Cotton Bouncing Early on Friday

Cotton prices are up 39 to 50 points early on the Friday session. Futures closed the Thursday session with contracts down 198 to 362 points across the board. The US dollar index was $0.151 higher at $99.165. Crude oil was down $0.26 on the day to $98.00. The market will...

Barchart

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Wall Street up modestly in premarket trading, oil prices climb on uncertainty over the Iran war

Wall Street inched toward modest gains in premarket trading as bond yields steadied even though oil prices rose with no signs of progress in ending the Iran war

AAP

UK airlines easyJet and Jet2 assure holidaymakers: No extra charges for summer flights despite rising fuel costs

British holidaymakers have been told their summer travel plans remain unaffected despite growing concerns over rising jet fuel prices linked to tensions in the Middle East.

The Times of India

Demi Moore just ditched her signature length for a major short hair transformation at Cannes

If you needed a sign to get a bob, look no further than the actress's dramatically chic new hairdo

Woman & Home

Ukraine hits Russian oil refinery, Zelensky says, as Kyiv intensifies new tactic

Ukrainian forces attacked an oil refinery in Russia's Yaroslavl region, President Volodymyr Zelensky said Friday, the latest ‌in a series of strikes ⁠by Kyiv on Russian oil facilities. Authorities in Ukraine's Russian-controlled Luhansk region on Friday said a Ukrainian drone attack on a student dormitory killed at least six people…

France 24

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Warning summer holidays are under threat with oil markets nearing ‘red zone’

We are facing the largest energy shock in living memory, the energy boss warned

The Independent UK

GOP megadonor turned attorney general front-runner: How Mayes Middleton’s largesse fueled his rise

Middleton helped fund the Legislature’s swing to the right, and an internecine challenge to Ken Paxton. But that’s nothing next to the money he’s spent on himself.

The Texas Tribune

‘Bringing war back to Russia’: Ukraine strikes Yaroslavl oil refinery

Ukraine has escalated its offensive by targeting a Russian oil refinery situated in Yaroslavl, roughly 700 kilometers away from its own territory, as declared by President Zelenskyy. He positioned this response as a fair counteraction in the ongoing conflict, propelling the conflict back into Russian territory.

The Times of India

World shares track Wall Street gains and oil prices climb on uncertainty over the Iran war

World shares have advanced following modest gains on Wall Street

AAP

S&P flags pressure on Indian Oil as high crude prices squeeze margins

S&P Global Ratings warns Indian Oil Corporation faces mounting pressure to balance affordable fuel with profitability. Prolonged Middle East tensions are escalating crude oil prices, squeezing margins and potentially impacting IOC's earnings and liquidity over the next year. The agency highlights the challenge of absorbing losses from high crude costs…

The Economic Times

Cuba needs a long-term solution to its energy crisis

Cuba has run out of oil, the country’s energy minister announced on May 14, 2026.

The Conversation

Portuguese among top in Europe for desire to travel in 2026, but high costs remain a concern

Nearly 50% of those polled in the country cited financial limitations as a reason not to travel, according to a study by Europ Assistance.

Euronews

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Euronews

Global markets rise as Iran war uncertainty keeps oil elevated

Markets climbed on Friday as hopes of a breakthrough in US-Iran negotiations steadied investor nerves, but with Hormuz shipping still disrupted and oil above $100, uncertainty has far from lifted.

Euronews

EU economy chief certain the bloc will not return to Russian gas or oil as energy crisis bites

Exclusive: European Commissioner for the Economy Valdis Dombrovskis said Russia is milking the crisis in the Middle East for energy profits – and the EU will not ease on its sanction regime for cheaper oil or gas flows.

The Independent UK

A Canadian province will hold a referendum on independence – and it’s not Quebec

Alberta, Canada’s oil-rich province, is set to hold a referendum this October, though its premier, Danielle Smith, clarified on Thursday that the vote will not directly address secession from the Canadian federation

The Economic Times

Time to buy rupee assets? DSP Mutual Fund lists 5 reasons favouring Indian equities and bonds

DSP Mutual Fund has urged investors to allocate towards rupee-denominated assets despite concerns over crude oil prices, currency weakness and foreign outflows. The fund house cited undervalued REER levels, narrowing India-US inflation differentials, resilient external sector buffers, attractive largecap valuations and cyclical forex trends as key reasons favouring Indian equities…

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The Economic Times

That sinking feeling: Rupee@100 is a mental fear, not macro nightmare

The rupee is under strong pressure due to rising global crude oil prices driven by Middle East tensions, briefly hitting an all-time low of 96.96 against the US dollar before recovering slightly with central bank support.

AAP

Alberta to non-binding referendum on staying in Canada

The oil-rich province of Alberta will hold a referendum on leaving Canada, but its premier says it won't actually be a vote on whether to separate.

Homes & Gardens

Lily Beetles Are Emerging This Month – And This Surprising Natural Trick Can Help Stop an Infestation Early

Sunflower oil is an organic alternative to using chemicals – we also recommend handpicking lily beetles as a tried-and-tested control method

The Guardian - UK

Big oil’s war profits may have a silver lining after all

As conflict in Iran sends prices soaring, fossil fuel companies are seeing extraordinary gains – but the crisis may also accelerate the shift towards clean energy

The Economic Times

Crude oil prices could hit $200 per barrel if Strait of Hormuz remains closed: Report

A prolonged closure of the Strait of Hormuz could push crude oil prices to as high as $200 per barrel and trigger a global recession, according to a Wood Mackenzie report.

The Economic Times

How to use lemongrass oil to keep lizards away: Easy tricks to stop these unwanted guests from climbing your walls

Lemongrass oil offers a natural way to deter house lizards by masking their scent attractants and reducing insect prey. Its strong citrus aroma, particularly from compounds like citral, makes areas less appealing to lizards. Applying diluted lemongrass oil sprays or scented cotton balls near entry points and common lizard spots…

The Independent UK

Asian shares track Wall Street gains and oil prices climb on uncertainty over the Iran war

Asian shares have advanced following modest gains on Wall Street

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