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The Latest Breaking News from Oil

The U.S. And Iran Halted Strikes In The Middle East. Oil Prices Are Plummeting

Oil is plummeting after the U.S. and Iran halted strikes in the Middle East.

International Business Times

PM urged to uphold climate pledges made as mayor and ban new North Sea oil drilling

Experts who helped Burnham draw up Manchester carbon neutral pledge say backtracking would send wrong message amid wildfires and heatwaves

The Guardian - UK

Stocks Set to Open Sharply Higher as Oil Prices Sink, Big Tech Earnings and Fed Meeting in Focus

September S&P 500 E-Mini futures (ESU26) are up +0.98%, and September Nasdaq 100 E-Mini futures (NQU26) are up +1.59% this morning, pointing to a sharply higher open on Wall Street as a slump in oil prices boosted investor sentiment at the start of a busy week.

Barchart

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Current price of oil as of July 27, 2026

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

Fortune

US President Trump's economy at 18 months is a tale of shocks, resilience, and signs of stalled progress

President Trump's initial eighteen months saw economic shocks from immigration and tariffs. An Iran war also impacted oil prices and global supply chains. While the economy showed resilience, promised job growth and lower prices have not materialized. Disposable incomes have stalled, and housing affordability remains a significant challenge. Stock market…

The Economic Times

Rupee logs best day in over 6 weeks as RBI intervention magnifies oil slump impact

On Monday, the Indian rupee experienced its most remarkable trading day in over six weeks, thanks to decisive actions from the central bank and a notable decrease in oil prices. Opening at 96.1475, it surged to a high of 95.7950. The decline in oil prices was further fueled by a…

The Economic Times

Explained: Why crude oil prices tumbled over 9% to below $90/bbl in one day

Crude oil prices plunged more than 9% to $88 a barrel after the US paused strikes on Iran and Tehran signalled restraint, boosting hopes of de-escalation. Reports said China is backing Pakistan's efforts to revive US-Iran peace talks, easing fears of prolonged supply disruptions. The sharp decline in oil prices…

The Economic Times

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Scottish billionaire and philanthropist Sir Ian Wood dies aged 84

IN FULL

The Independent UK

I'm a Portfolio Manager: This Is Why Energy Resiliency and Oilfield Service Stocks May Represent a New Growth Opportunity

The war in Iran has thrown a spotlight on energy security. Should investors look toward oilfield service companies that make dependable supplies possible?

Kiplinger

Sir Ian Wood: North Sea oil tycoon and philanthropist dies aged 84

Sir Ian was one of Scotland’s wealthiest people

The Independent UK

Iran halts retaliatory strikes as US gives diplomacy 'more room'

Iran and the United States have paused their attacks, offering Gulf shipping and global oil markets a respite after weeks of escalating strikes around the Strait of Hormuz.

Radio France Internationale

MRPL seeks crude via tender avoiding Red Sea and Hormuz, document shows

Mangalore Refinery and Petrochemicals Ltd is seeking oil imports via a spot tender. The company has asked suppliers to avoid the Red Sea and Strait of Hormuz. This precautionary measure aims to prevent potential disruptions to key maritime oil trade routes. The refiner previously did not award a tender seeking…

The Economic Times

Scottish billionaire oil baron Ian Wood dies aged 84

SCOTTISH billionaire and oil baron Ian Wood has died aged 84 ...

The National (Scotland)

Global Market: European shares rise as oil slumps on US-Iran de-escalation; tech earnings in focus

European stock markets gained as tensions eased between the United States and Iran. A sharp decline in oil prices supported sectors sensitive to fuel costs. Investors turned their attention to crucial quarterly earnings from major US technology companies. These results could shape the outlook for global equity markets and economic…

The Economic Times

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The Guardian - UK

Oil prices fall as US pauses strikes on Iran over strait of Hormuz

Brent crude drops 9% to below $88 a barrel, prompting UK government bond yields to fall

Euronews

Hormuz crisis puts Europe's oil market under further strain following post-ceasefire relief

After a brief reprieve in the wake of a ceasefire deal between the US and Iran, the crisis in the Strait of Hormuz has sent oil prices spiralling again. Europe in Motion breaks down the European countries with the most significant fluctuations.

The Economic Times

Saudi oil can still get out — but it won’t be cheap or easy

Saudi Arabia faces a challenge rerouting oil exports due to Houthi attacks. An existing pipeline bypasses the Strait of Hormuz, but a new detour is needed. This new bypass requires additional pipelines and significant diplomatic efforts. The kingdom must now push its oil north to avoid the Bab el-Mandeb strait.…

The Economic Times

US Stock Market: US investment-grade bond funds see record weekly outflows as inflation fears rattle markets

Investors withdrew a record $7.1 billion from U.S. investment-grade bond funds. Surging oil prices and rising Treasury yields triggered this sharp selloff. High-yield bond funds and leveraged-loan funds attracted modest inflows during the same week. These alternative fixed-income segments are less sensitive to rising yields. The market reflects investor preferences…

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The Economic Times

Global Markets: Japan's Nikkei rises as oil falls before key earnings

Japan's Nikkei share average closed higher on Monday, boosted by lower oil prices. Investors remained cautious due to upcoming major earnings reports from U.S. cloud companies. Reduced concerns over crude prices supported Japanese shares, while buybacks were also anticipated. Major U.S. and Japanese companies will release their earnings this week.…

The Economic Times

US energy cushion faces new stress test as Middle East risks rise again

As Middle East tensions rise, America’s energy market stability is put to the test. Record levels of electricity demand and heavy data-center usage are straining the nation’s energy system. Critical metrics like oil and gas production are actively monitored for pressure points, while tight refined product inventories raise concerns. Although…

The Economic Times

Why the coming winter is going to be a long, cold one for Europe

Europe will face the next winter with alarmingly low energy supplies and heating oil inventories. Global markets for liquefied natural gas and diesel have been severely strained by conflicts. Asia's strong demand and supply route disruptions are impacting European imports. Policy decisions by China and Russia have further complicated diesel…

The Guardian - UK

Oil price slides as US and Iran pause fire; cancer treatments help AstraZeneca beat profit forecasts – as it happened

Rolling coverage of the latest economic and financial news

Benzinga

Thomas Massie Says Iran War Has 'Weakened' US, Points to Depleted Oil Reserves, Missile Defenses—Araghchi Says Zelenskyy Is Dragging Europe Into War for Israel

Rep. Thomas Massie (R-KY) slammed the President Donald Trump administration on Sunday amid the ongoing tensions between Washington and Tehran, saying that the situation has put the U.S. on the back foot.

The Independent UK

Oil prices sink 4% while Asian shares gain as Chinese chipmaker CXMT soars in Shanghai trading debut

Shares are mostly higher in Asia as oil prices slipped more than 4% after the U.S. and Iran paused their attacks for a second night

Euronews

Oil prices plunge as US and Iran pause strikes over Strait of Hormuz

Oil prices eased in early trading on Monday, falling further from a two-month high set last week, after the United States and Iran refrained from launching military strikes in the Persian Gulf.

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