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The Latest Breaking News from Oil

Crude Oil Prices Slip on Dollar Strength

June WTI crude oil (CLM26 ) today is down -0.19 (-0.19%), and June RBOB gasoline (RBM26 ) is down -0.0534 (-1.48%). Crude oil and gasoline prices are under pressure today from a rally in the dollar index ($DXY ) to a 2-week high. Also, signs that OPEC+ may boost its...

Barchart

A tiny oil lifeline reopens through tense Hormuz after months of chokehold

More oil tankers are navigating the Strait of Hormuz. This offers some relief to the global oil market. Several ships carrying crude oil have exited the waterway recently. Some vessels are traveling with their satellite signals off. This makes tracking difficult. Iran has allowed Chinese ships to pass. Other oil…

The Economic Times

Saudi Arabia's Oil Production Drops Over 40% To Lowest Level In More Than Three Decades: Report

Saudi Arabia informed OPEC that its production of oil dropped more than 40% to its lowest level since 1990, according to a new report.

International Business Times

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At the Races: Hitting the gas

Welcome to At the Races! Each week we bring you news and analysis from the CQ Roll Call campaign team. Know someone who’d like to get this newsletter? They can subscribe here. By Niels Lesniewski, Mary Ellen McIntire and Daniela Altimari As the Iran war continues to roil global oil markets, rising…

Roll Call

US stock market jumps sharply today as Dow Jones reclaims 50,000 — Why the Dow, S&P 500 and Nasdaq are all in green after U.S.-China trade summit boost

US stock market jumps sharply today as the Dow Jones, S&P 500 and Nasdaq rally on renewed optimism from the U.S.-China trade summit and booming AI demand. Nvidia and Cisco led Wall Street gains while investors balanced strong earnings against inflation fears and rising oil prices. The Dow Jones Industrial…

The Economic Times

Stocks Push Higher on Strength in Tech and a Solid US Retail Sales Report

The S&P 500 Index ($SPX ) (SPY ) today is up +0.44%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.49%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.60%. June E-mini S&P futures (ESM26 ) are up +0.40%, and June E-mini Nasdaq futures...

Barchart

Overcoming Safety Risks with Honeywell Fault-Tolerant Control

A single control system failure in an oil refinery or power plant can trigger a chain reaction of catastrophic events—explosions, toxic releases, environmental devastation, and loss of human life. The 2005 Texas City refinery disaster and numerous pipeline incidents serve as stark reminders that inadequate safety controls carry consequences measured…

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Cuba has completely run out of diesel and fuel oil, energy minister says

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The Independent UK

US stocks today: US stocks extend rally as Nvidia gains; US-China talks, data in focus

Wall Street hit fresh intraday highs led by Nvidia’s AI-driven surge and Cisco’s upbeat outlook. Strong retail sales and stable jobless claims signalled economic resilience, though inflation risks from rising oil prices persist. Investors tracked U.S.-China talks while expectations of prolonged tight Fed policy continued to shape market sentiment.

The Economic Times

‘Contradictory signal’: Germany scraps renewable heating law just as heat pumps gain momentum

Germany has back-peddled on its green heating law, despite heat pumps recently outselling traditional gas boilers.

Euronews

Cuba Says It Has Run Out Of Oil And Diesel, Only Has 'Gas From Our Wells'

Cuban Energy Minister Vicente de la O Levy said the country has run out of oil and diesel and only has gas left.

International Business Times

Cotton Collapsing Early on Thursday

Cotton futures closed the Wednesday session with contracts coming off the midday highs, up 7 to 49 points. The US dollar index was $0.215 higher at $98.395. Crude oil was down $1.18 at $101.00 at the close. A meeting between President Trump and China’s President Xi in Beijing concluded early...

Barchart

Soybeans Falling Back Following Trump/Xi meeting

Soybeans are trading with 20 to 27 cent losses early on Thursday morning. Futures saw modest strength on Wednesday, with contracts closing fractionally to 3 cents higher on the day. Open interest was up 14,129 contracts on Wednesday. The cmdtyView national average Cash Bean price was up 3 1/4 cents...

Barchart

Current price of oil as of May 14, 2026

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

Fortune

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The Independent UK

Cuba facing severe energy crisis as supplies of Russian oil run dry

Trump has imposed a blockade on Cuba and threatened to impose tariffs on any countries that provide it with fuel

GOBankingRates

4 Costco Groceries Retirees Need To Buy Before Prices Spike in Summer 2026

With uncertainty surrounding oil prices, many grocery items may see price spikes this summer. Here are four Costco grocery items that retirees need to buy.

The Guardian - UK

‘It smells like my ranch!’ Diva of dirt Delcy Morelos and her amazing 30-tonne earthworks

It sustains all life. It is where we all end up. Yet we treat it appallingly. As her latest enormous mud sculpture looks set to cause a sensation in Britain, the Colombian artist explains why she works with soil

The Times of India

Lights out in Havana: Protests erupt as 'absolutely no fuel' left in Cuba

Cuba has completely run out of diesel and fuel oil, energy minister Vicente de la O Levy has said, as a US-led blockade chokes supply and plunges parts of Havana into blackouts lasting up to 22 hours a day.

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The Conversation

How severe has the economic impact of the Iran war been for the Gulf states?

The US and Israel’s war on Iran has cast a long shadow over the Gulf. It has placed many of the economies that make up the Gulf Cooperation Council (GCC) regional grouping – Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates (UAE) and Saudi Arabia – under substantial strain.

Euronews

Ship seized near UAE coast headed for Iranian waters, UK maritime agency says

A ship has been taken near the UAE coast and is headed for Iranian waters, the UK's UKMTO said, in the latest vessel seizure around the Strait of Hormuz.

The Economic Times

India rupee slips to record low near 96 per USD as energy risks deepen

The Indian rupee hit an all-time low, driven by high oil prices and portfolio outflows straining the economy. Policymakers are considering tax reductions for foreign investors on bonds to attract dollar inflows. Persistent balance of payments deficits and rising wholesale inflation signal ongoing rupee weakness.

TechRadar

War, drones, and the energy reckoning: How the Iran war is reshaping tech investment

The Iran war is turning autonomous systems and energy resilience into key investment themes.

The Economic Times

Two India-bound LPG tankers transit through Strait of Hormuz amid US-Iran war

Two ships carrying cooking fuel have successfully passed through the Strait of Hormuz. These vessels are heading towards India. This marks an increase in such passages recently. Several other large ships carrying oil, fuel, and gas have also navigated the strait. Some vessels are still near a US blockade line.…

Axios

Trump's killer quote exposes his bind on Iran and inflation

The president's clumsy wording handed Democrats a ready-made attack ad.

MarketBeat

Permian Resources Q1 Earnings Call Highlights

Permian Resources (NYSE:PR) reported what executives described as a record quarter for free cash flow and operational efficiency, while emphasizing that the company is preserving flexibility amid volatile commodity markets. On the company’s first-quarter 2026 earnings call, Co-CEO Will Hickey said

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