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The Latest Breaking News from Oil

Oil nears two-month lows on reports of imminent US-Iran peace deal

Oil prices dropped significantly, reaching their lowest point in nearly two months as U.S. and Iranian officials indicated a potential agreement to de-escalate tensions in the Middle East. Reports suggested a memorandum could be signed soon, impacting global oil markets and the Strait of Hormuz.

The Economic Times

Global markets: Stocks rise as SpaceX makes market debut; oil slides on Gulf peace hopes

Global equities rose Friday, led by a surge in SpaceX's market debut, which pushed its valuation past $2 trillion. Wall Street ended higher as investors weighed hopes for an Iran peace deal against the tangible boost from the successful IPO. Oil prices slid over 3% on renewed optimism for a…

The Economic Times

European shares rally as Middle East peace hopes drag oil prices lower

European shares surged on Friday, driven by renewed hopes for a Middle East diplomatic breakthrough that lowered oil prices. The pan-European STOXX 600 advanced significantly, with Spain's IBEX 35 hitting an all-time high. Travel and leisure stocks led gains, while energy shares lagged as crude prices fell.

The Economic Times

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38 'close deals' later: Why has Trump been saying Iran war to end soon since March?

US President Donald Trump has publicly predicted an imminent deal to end the Iran war at least 38 times since March, according to CNN's tally, with each claim followed by no final agreement.

The Times of India

Falling crude oil price sends tyre, paint, oil marketing and airline companies soaring in relief rally

On Friday, a significant drop in oil prices caused a ripple effect in the stock market, with companies linked to crude oil benefiting the most. Firms in the oil marketing sector, tire production, and airlines enjoyed an uptick, as the affordable oil alleviated some financial anxieties. Conversely, upstream oil producers…

The Economic Times

Petrol, Diesel prices today June 13: Check latest fuel rates in Delhi, Mumbai, Bengaluru, and other cities

Fuel prices remained steady across major Indian cities on June 13, offering consumers a brief respite after recent hikes. Oil companies maintained current rates despite global crude oil market volatility and geopolitical concerns affecting energy supplies. This pause follows cumulative price increases of nearly ₹7.50 per litre since mid-May, reaching…

The Economic Times

Iran peace deal looms while new military action flares near Strait of Hormuz

The United States and Iran are reportedly close to an agreement to end their war, with both sides agreeing on a text for an initial deal. The proposed memorandum of understanding includes reopening the Strait of Hormuz and lifting the U.S. naval blockade on Iranian ports. Negotiations over Iran's nuclear…

The Economic Times

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Business Inflation Jumps To Highest Level Since 2022 As Iran War Drives Up Energy Costs

Higher fuel costs linked to the Iran conflict pushed producer prices sharply higher in May, adding pressure across the U.S. economy.

International Business Times

Cotton Posts Modest Gains on Friday

Cotton futures closed with 4 to 49 points on Friday, with July still down 81 points on the week, as December fell 106 points. Crude oil was down $3.50 to $84.21/barrel. The US dollar index was down $0.054 at $99.795. CFTC data showed managed money trimming their net short in...

Barchart

Stocks Rally on Hopes for a Near-term US-Iran Interim Peace Agreement

The S&P 500 Index ($SPX ) (SPY ) on Friday rose +0.50%, the Dow Jones Industrial Average ($DOWI ) (DIA ) rose +0.70%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) rose +0.64%. June E-mini S&P futures (ESM26 ) rose +0.65%, and June E-mini Nasdaq futures (NQM26 ) rose...

Barchart

How major US stock indexes fared Friday 6/12/2026

U.S. stocks rose after oil prices fell again, and SpaceX soared in its highly anticipated debut on Wall Street

AAP

Dollar Little Changed as Markets Assess Odds for US-Iran Peace Deal

The dollar index (DXY00 ) ended the day little changed on Friday. The dollar saw support from Friday’s +2.2 bp rise in the 10-year T-note yield, which supported the dollar’s interest rate differentials. However, there was some downward pressure from reduced safe-haven demand on hopes for a near-term US-Iran agreement...

Barchart

U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim

Middle Eastern oil flows are rising, but U.S. crude stockpiles are still depleting.

Fortune

Oil Prices Plunge as Trump Says U.S. Is Close to Iran Deal

Oil prices fell sharply on Friday after President Donald Trump said the United States was nearing an agreement with Iran.

International Business Times

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The Economic Times

UAE to unlock billions of dollars for Iran, sources say

US-Iran war: The United Arab Emirates is set to release billions of dollars to Iran. This move follows weeks of Iranian attacks on the UAE. The agreement is part of wider negotiations between Iran and the United States. These talks could lead to the release of significant Iranian oil revenues.…

The Economic Times

Turn for peace on the day Trump turns 80? US, Iran could sign MoU on Saturday

Iranian foreign minister Abbas Araghchi posted on Friday on X that an agreement "has never been closer". He gave no details, saying a final deal was still pending. US President Donald Trump shared Araghchi's post on his own social media. Trump, who turns 80 on Sunday, called off threatened strikes…

Barchart

Crude Oil Prices Continue Sharply Lower on Iran Peace Hopes

July WTI crude oil (CLN26 ) on Friday closed down -2.82 (-3.23%), and July RBOB gasoline (RBN26 ) closed down -0.0516 (-1.66%). July WTI crude oil prices on Friday fell by -3.23%, adding to Thursday’s decline of -2.58%. Crude oil prices fell as reports circulated that an interim US-Iran peace...

AAP

BC-OILS

NEW YORK (AP) — Futures trading on the New York Mercantile Exchange Friday:

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AAP

US stocks rise after oil prices ease and SpaceX soars in its debut on Wall Street

U.S. stocks are rising after oil prices fell again, and SpaceX soared in its highly anticipated debut on Wall Street

The Guardian - UK

US-Iran peace deal remains elusive as Trump and Tehran trade conflicting claims

US president dismisses Iranian media reports agreement is close, despite earlier suggesting a deal could be signed this weekend

Bangkok Post

Renewed hope for Iran deal buoys investors

RECAP: Asian stocks gained and oil dipped Friday after US President Donald Trump withdrew his threat of further strikes on Iran and said a deal could be signed in the coming days, although Tehran said it had not reached a final conclusion.

The Mary Sue

Trump Threatens to Turn Off the Taps in Iran as His Defense Secretary Dismisses Questions About the Legality of Targeting Civilian Infrastructure

Later in the day, the president called off the strikes, citing progress in talks.

AAP

Fuel prices destined to jump despite record supplies

The expected end to the 32-cent-a-litre fuel tax cut will see fuel prices tick back up despite hopes for a looming resolution to the conflict in Iran.

Barchart

Cotton Showing Steady Friday Trade

Cotton futures are trading with contracts up 43 points in July and other contracts steady to 5 points lower. Crude oil is down $2.85 to $84.86/barrel. The US dollar index is down $0.109 at $99.740. USDA’s Export Sales report now has the old crop cotton commitments at 11.541 million RB,...

Barchart

Soybean Weakness Holding On Friday

Soybeans are trading with 1 to 2 cent losses at Friday’s midday. The cmdtyView national average Cash Bean price is down a penny at $10.60 1/2. Soymeal futures are mixed, down a 20 cents to a dime higher on the day, with Soy Oil futures 20 to 36 points lower....

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