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The Latest Breaking News from Oil

Current price of oil as of Sept. 2, 2026

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

Fortune · Sep 2

Wall Street Slides as US Strikes Iran Again, Oil Spikes and Fed Bets Firm Up

Iran strikes, an oil spike and hawkish Fed comments hit Wall Street Tuesday, even as Anthropic, SLB and Washington closed multibillion-dollar deals.

Latin Times · Sep 2

Germany Formally Blames Russia for Leipzig Airport Drone Bomb Plot

Germany formally blamed Russia for a foiled drone bomb plot at Leipzig/Halle Airport and closed a Russian consulate in response.

Latin Times · Sep 2

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US-Iran war flares up again: How far can Tehran go in retaliation?

In response to renewed American strikes, Iran has initiated missile attacks on US assets across multiple countries. This aggressive stance indicates Tehran's willingness to broaden its regional attacks, jeopardizing oil shipments. The ongoing conflict poses significant threats to global shipping and energy supplies. Furthermore, Iran could resort to cyber or…

The Times of India · Sep 2

S&P Futures Tick Higher as Oil Prices and Bond Yields Fall, U.S. ADP Jobs Report and Broadcom Earnings on Tap

September S&P 500 E-Mini futures (ESU26) are up +0.12% this morning, finding some footing after three straight sessions of losses as oil prices and bond yields retreated.

Barchart · Sep 2

US oil giant Chevron confirms it will expand operations in Venezuela

Oil giant Chevron is confirming that it is expanding its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits

The Independent UK · Sep 2

Who is Trump's Venezuela go-between?

PRESS REVIEW – Wednesday, September 2: We look at papers' coverage of the shadowy Venezuelan magnate who brokered the Washington-Caracas oil deal. In other news, the Pacific Islands Forum wants to talk climate change, but China's anger at the presence of Taiwan is stealing the limelight. Finally, the Bayeux Tapestry…

France 24 · Sep 2

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Bitcoin slips under $77K after August rally as macro pressures mount. Here is what expert say

Bitcoin fell below $77,000 as rising oil prices, bond yields and geopolitical tensions pressured crypto markets after August’s rally. Ethereum and major altcoins also declined, while analysts highlighted key support levels, cautious positioning and volatility risks in September.

The Economic Times · Sep 2

RBI backstop keeps Indian rupee stable, blunting importer dollar demand impact

The Indian rupee showed little movement on Wednesday, hovering in a narrow range. Support from the Reserve Bank of India helped mitigate the growing dollar demand from importers. The fluctuations in oil prices and Treasury yields also played a role in the currency's stability. Experts predict the rupee will maintain…

The Economic Times · Sep 2

Trump Says Venezuela Oil Deal Will Lower Gas Prices. Industry Experts Say It Wouldn't Happen Quickly.

The agreement gives the U.S. government a 35 percent stake in North American Blue Energy Partners.

International Business Times · Sep 2

Global Market: European shares hover near one-month low as bond yields, oil prices surge

European shares hovered near a one-month low on Wednesday as rising government bond yields and escalating US-Iran tensions fuelled concerns over higher energy prices and inflation. The STOXX 600 was broadly flat, while Germany’s 10-year bond yield hit its highest level since April 2011, raising expectations of tighter ECB policy.

The Economic Times · Sep 2

US energy secretary vows oil output will double on visit to Venezuela

US Energy Secretary Chris Wright landed in Venezuela on Tuesday ahead of a signing ceremony for a landmark oil deal between the US government and Venezuela. The deal would see the US create and control a private company that will hold 65 billion barrels in proven oil reserves. This agreement…

France 24 · Sep 2

Oil shipments to India face delivery hurdles on Mideast snarls

Indian refiners face disrupted oil shipments from the Middle East. Bharat Petroleum and Indian Oil experienced delayed crude oil deliveries. These disruptions force refiners to seek costly alternative oil supplies. Simultaneously, Russian oil flows are also under pressure. This situation highlights ongoing challenges for India's energy security.

The Economic Times · Sep 2

Ryanair warns air fares in Europe will jump next year if oil price stays high

Budget carrier says airlines could go bust as it cuts passenger targets to reduce exposure to ‘unhedged winter oil’

The Guardian - UK · Sep 2

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Euronews · Sep 2

British energy giant BP names Ian Tyler as chair after boardroom turmoil

British energy giant BP has appointed Ian Tyler as its permanent chair following the abrupt removal of his predecessor over governance and conduct concerns in May.

The Economic Times · Sep 2

Global Market: UK gilt yields hit 18-year high as global bond selloff intensifies

UK government bond yields climbed to fresh 18-year highs as a global sovereign debt selloff intensified amid rising oil prices and renewed inflation concerns. Higher borrowing costs are adding pressure on Britain’s debt-servicing burden and complicating the fiscal outlook ahead of the upcoming budget.

The Guardian - UK · Sep 2

Iran’s currency hits record low – as it happened

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The Economic Times · Sep 2

ONGC Videsh eyes Venezuela oil assets after US green light

An Indian investment team is reviewing Venezuelan oil assets after receiving US government approval. This visit marks the first such trip in several years for the company. The team plans to see oil fields and meet with Venezuelan energy officials. They are keen to become operators of existing oil projects…

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Evening Standard · Sep 2

Some airlines will ‘struggle to survive’ if oil prices stay high, warns Ryanair

Ryanair also cut its air traffic target for next year on the back of efforts to use less unhedged fuel over the winter period.

The Independent UK · Sep 2

Ryanair warns rival airlines will ‘struggle to survive’ if soaring oil prices persist

The Irish airline says airfares on short-haul flights will increase ’materially’ if high oil prices continue into 2027

International Business Times UK · Sep 2

Andy Burnham Faces PMQs Debut With Borrowing Costs at 18-Year High Threatening His Budget Plans

Andy Burnham faces his first Prime Minister's Questions amid rising UK borrowing costs, challenging his economic plans and political leadership. The market turmoil tests his government's fiscal strategies.

The Guardian - UK · Sep 2

BP seeks to end years of boardroom turmoil with appointment of new chair

Ian Tyler, already in role on an interim basis, is tasked with shifting strategy to refocus on fossil fuel extraction

The Economic Times · Sep 2

What are Iran's options to retaliate as open warfare resumes with the US?

The US launched a fresh wave of attacks on Iran, prompting Iranian missile strikes on what Tehran said were US assets in Jordan, Bahrain, Kuwait and Iraq.

The Economic Times · Sep 2

Why are global bond yields surging to multi-decade highs?

Global government borrowing costs are reaching multi-decade highs as inflation persists. Bond yields in major economies like the United States and Japan have sharply increased. Renewed oil price gains and substantial government debt add to market pressures. Higher borrowing costs impact households, businesses, and government finances significantly. Investors watch for…

Euronews · Sep 2

Chevron unveils $7 billion Venezuela deal as US claims a fifth of the country's oil

Chevron announced a $7 billion expansion deal for its Venezuelan operations on Wednesday, hours after the country's parliament approved handing Washington control over a fifth of its oil reserves.

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