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The Latest Breaking News from Oil

Current price of oil as of June 12, 2026

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

Fortune

‘We’ll celebrate our anniversary’: Sailor’s last promise to wife before US strike on tanker killed three Indians

Three Indian sailors lost their lives when a US military strike hit the oil tanker MT Settebello in the Gulf of Oman. The vessel carried 24 Indian crew members. While 21 were rescued, the tragic loss has prompted grief and diplomatic protests from New Delhi, with families awaiting the return…

The Times of India

Cotton Gains Pushing to Friday Morning

Cotton prices are up 10 to 28 points so far on Friday. Futures posted gains of 13 to 139 points across the board on Thursday, led by the front months. Crude oil was down $3.61 to $86.42/barrel after President Trump announced late in the day that there was a deal...

Barchart

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India bonds rise as oil slumps on Iran peace deal hope

Indian government bonds saw a significant rise on Friday. This surge was driven by a sharp decline in crude oil prices. Hopes of a breakthrough with Iran boosted sentiment. However, domestic fiscal worries capped the gains. The benchmark 2036 note yield fell to its lowest since issuance. Investors are watching…

The Economic Times

Wall Street extends gains ahead of SpaceX debut; Trump claims a breakthrough in Iran war talks

Wall Street's rebound continued and oil prices sank more than 3% after U.S. President Donald Trump claimed there was a breakthrough in talks to end the Iran war

AAP

Iran insists on nuclear enrichment and control over Strait of Hormuz under any deal with US

Iran insisted on Friday on its right to enrich uranium and maintain control over the Strait of Hormuz under any deal with the United States, after President Donald Trump said a draft accord was ready. Beyond this, according to IRNA, Iran would insist on managing traffic though the Strait of…

The Economic Times

Oil prices plummet as Trump claims he is close to US-Iran deal

Brent crude falls as optimism rises that strait of Hormuz could reopen over the weekend

The Guardian - UK

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Rupee rallies as oil slump sparks unwinding of dollar longs

The Indian rupee experienced a robust uptick against the dollar on Friday, sparked by newfound optimism regarding peace talks between the U.S. and Iran. This positive development resulted in a sharp decrease in oil prices, alleviating some of the pressure on India’s import expenses.

The Economic Times

Cost of surviving in U.S. is reportedly spiraling, but Donald Trump has his reasons for ‘loving’ the inflation

Republicans have been accused of actively making the inflation worse.

We Got This Covered

What if Trump actually seized Kharg Island?

Kharg Island is a small coral outcrop off the coast of Iran that handles around 90% of the country's crude oil exports, making it key to Tehran's economy.

Euronews

$Texas agency to set rules for using treated fracking wastewater on farmland$

Texas agency to set rules for using treated fracking wastewater on farmland

The state’s environmental regulator will hold a public hearing June 15 on its proposed rules for how the toxic wastewater can be reused. Here’s what you should know.

The Texas Tribune

World shares surge and oil prices slip over 4% after Trump claims a breakthrough in Iran war talks

World shares have advanced in the wake of big Wall Street gains, while oil prices tumbled more than 4% after U.S. President Donald Trump claimed there was a breakthrough in talks on ending the Iran war

AAP

Is India's economic growth real? Raghuram Rajan says something is off

Former RBI Governor Raghuram Rajan questions India's strong economic growth figures, citing weak corporate investment and declining foreign capital inflows. He argues these factors are difficult to reconcile with official data, suggesting a disconnect between headline numbers and business behavior. Rajan also highlights the lack of a clear economic roadmap…

The Economic Times

BlackRock says oil, FX risks loom over India's bond inflow push

Indian debt is piquing the interest of foreign investors thanks to new government initiatives. Nonetheless, investment giant BlackRock remains cautious, keeping its exposure steady. Challenges like steep currency hedging expenses and volatile oil prices cast a shadow on the prospects. For foreign capital to make a significant leap into rupee-denominated…

The Economic Times

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Evening Standard

Oil price falls to three-month low and stocks rally on hopes of US-Iran deal

Financial markets were rebounding at the end of a week which began with renewed tensions in the Middle East.

AAP

Trump calls off latest threats to strike Iran, citing a breakthrough in talks to end the war

U.S. President Donald Trump has called off new military strikes on Iran, hours after threatening to escalate the war

The Economic Times

Why are oil, gold and silver prices down today, and will Brent futures, US WTI crude and precious metals prices continue to drop or rise again? Market reacts to Iran peace deal hopes and rate concerns

Why are oil, gold and silver prices down today, and will Brent futures, US WTI crude and precious metals prices continue to drop or rise again? Oil, gold and silver prices moved lower after reports that the United States and Iran could reach a peace agreement. Brent futures and US…

The Economic Times

Higher crude prices fuel bank lending boom; credit growth hits 17.7%, fastest since June 2024

Bank lending saw its fastest growth in almost two years by May 31, 2026. Credit expanded significantly, reaching Rs 215.2 lakh crore. This surge occurred as bank deposits decreased by Rs 2.3 lakh crore. The gap between loans and deposits widened. Oil marketing companies and government schemes contributed to higher…

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news in one place.

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AAP

World shares surge and oil prices slip after Trump claims a breakthrough in Iran war talks

World shares have advanced in the wake of big Wall Street gains, while oil prices slipped more than 1% after U.S. President Donald Trump claimed there was a breakthrough in talks on ending the Iran war

The Guardian - UK

Has the US really carried out a secret mission to get oil through Hormuz?

Trump says hundreds of tankers have escaped Iran’s blockade. Data suggests shipments are increasing but many questions remain

The Economic Times

India bonds surge as oil nears 8-week low on US-Iran deal hopes

Indian government bonds rallied early Friday as oil prices plunged, with Brent crude futures easing nearly 2% to $88.66 per barrel. This decline, driven by hopes of a U.S.-Iran peace deal, boosted demand ahead of a significant debt auction. The benchmark 10-year U.S. Treasury yield also eased, contributing to the…

The Economic Times

Nifty Bank surges 700 points to one-month high; HDFC Bank, Yes Bank, PNB, other stocks rise 2%. What lies ahead?

Bank stocks saw a significant jump on Friday, propelling the Nifty Bank index to a one-month peak. This surge followed news of a potential peace deal between the US and Iran. Oil prices declined and the Indian Rupee strengthened, boosting overall market sentiment. Several major bank stocks experienced gains, indicating…

The Economic Times

Gold on course to log worst yearly fall since 2013 if West Asia troubles continue. Time to sell?

Gold has fallen over 25% from its peak despite ongoing geopolitical tensions in West Asia, marking a sharp divergence from its traditional safe-haven role. Profit booking after a strong rally, expectations of higher interest rates, a stronger dollar and elevated bond yields have driven the decline. Analysts, however, say central…

The Independent UK

Britain’s best month for eating: 13 recipes for June

June is one of the few months when British fruit and vegetables are both at their peak. From Jersey Royals and asparagus to cherries, strawberries and gooseberries, these recipes make the most of the season while it lasts, says Hannah Twiggs

The Economic Times

Vedanta demerger: Which demerged stock should you buy after their market debut on June 15?

Vedanta's mega demerger sees four new companies listing on June 15. Analysts suggest Vedanta Aluminium Metal as a strong buy due to capacity expansion and robust LME prices. Other demerged entities like Vedanta Power, Oil & Gas, and Iron & Steel are expected to debut as small-cap stocks.

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