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The Latest Breaking News from Oil

Indian rupee hits record low as outflows, oil strain worsen rout

The energy shock from the prolonged U.S.-Iran war ‌that has effectively ⁠shut ⁠the Strait of Hormuz has hurt India's macroeconomic outlook and strained its current account balance. Economists have lowered their growth forecasts, raised inflation projections and warned of sustained pressure on the rupee.

The Economic Times

Stock Index Futures Gain as Tech Stocks Rebound, U.S. PPI Data and Trump-Xi Summit in Focus

June S&P 500 E-Mini futures (ESM26) are up +0.25%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.79% this morning, buoyed by gains in technology stocks, while investors gear up for crucial U.S. producer inflation data and the highly anticipated Trump-Xi summit.

Barchart

India set to scale back Russian oil imports if US waiver lapses

Iran war oil impact: Amidst the ongoing geopolitical turmoil, Indian oil refiners face a critical moment as the expiration of a US waiver looms this weekend. With the war affecting supplies from the Persian Gulf, India has lately seen a surge in Russian oil imports.

The Economic Times

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Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil dips as markets watch Iran ceasefire, Trump-Xi China summit and Strait of Hormuz risks

Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil slipped after a three-day rise while gas stayed stable as markets tracked Iran ceasefire risks and the Trump-Xi China summit.…

The Economic Times

Fuel price hike may become inevitable amid rising crude stress: MK Surana

India's oil marketing companies face escalating under-recoveries due to persistent crude oil supply disruptions and an uncertain global market. Industry veteran MK Surana warns of intensifying financial stress, suggesting a potential retail fuel price hike may become inevitable to manage the growing burden on fuel retailers.

The Economic Times

The hidden role of export credit in the energy transition

For most policymakers, export credit agencies (ECAs) are financial tools that boost national companies’ business endeavours abroad. But a recent research project conducted by Philipp Censkowsky, Paul Waidelich, Igor Shishlov, and Bjarne Steffen reveals the profound impact they have on the energy transition. Our study analysed 921 energy-finance deals backed…

The Conversation

Global oil supply to plunge below demand this year on Iran war, IEA says

Global oil supply is set to fall short of demand this year, with the Iran war severely impacting Middle East production. The International Energy Agency reports significant supply losses and a projected deficit of 1.78 million barrels per day by 2026. Demand is also expected to decline due to price…

The Economic Times

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Rupee hits all-time low of 95.74 vs USD as outflows, oil risks weigh on outlook

The Indian rupee hit a new all-time low on Wednesday, falling 0.1% to 95.7450 per dollar. This decline was driven by consistent overseas debt repayments and importer hedging, overshadowing any relief from increased duties on precious metal imports. The ongoing U.S.

The Economic Times

US announces $15 million bounty targeting Iran army funding mechanisms

The US State Department is offering up to $15 million for information on financial networks linked to Iran's IRGC, targeting its illicit oil trade. This move, part of expanded sanctions, aims to disrupt funding for proxy groups and regional aggression. The US also sanctioned a network involved in selling Iranian…

The Times of India

US State Department offers $15 million bounty for insights on Iran's IRGC funding networks

The US Department of State has announced a reward of up to USD 15 million for key intel that could turn the tide against Iran's Islamic Revolutionary Guard Corps. This strategic initiative focuses on choking off their illicit oil operations and funding channels. Allegations suggest these funds back terrorism and…

The Economic Times

Fire or ice: Why a ceasefire in the Gulf cannot hold

As the specter of renewed conflict between the US and Iran looms, the Strait of Hormuz stands at the center of this brewing storm. A fresh clash could erupt, either plunging the world into a major wartime scenario or extending a tense cold war. The repercussions could be drastic, disrupting…

The Economic Times

Petrol, diesel price hike in India a matter of time if Middle East conflict persists: RBI Governor Sanjay Malhotra

India faces potential retail fuel price hikes if the Middle East conflict persists. RBI Governor Sanjay Malhotra indicated this possibility due to rising energy import costs and inflation risks. The government has already reduced duties and state refiners are absorbing losses. Prime Minister Modi urged citizens to conserve fuel. Oil…

The Economic Times

India's vegetable oil imports jump 13 per cent in first half of 2025-26 on palm oil surge

India's vegetable oil imports surged 13 percent to 7.94 million tonnes in the first half of the 2025-26 oil year. Palm oil shipments nearly doubled, boosting overall imports. This rise occurred despite increased cooking oil prices and a depreciating rupee. Stocks of vegetable oil also showed a significant increase, indicating…

The Economic Times

Frankenpipelines: Inside Trump's bid to resurrect Keystone XL and stretch Dakota Access north

A patchwork of smaller, connected projects using existing pipe aims to resurrect Keystone XL and extend the Dakota Access Pipeline to Canada.

Fortune

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The Guardian - UK

Global oil inventories falling at record pace amid Iran war; US producer price inflation hits four-year high – as it happened

IEA warns that mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace

The Economic Times

HPCL Q4 Results: Net profit jumps 46% YoY to Rs 4,902 crore; Rs 19.25/sh dividend declared

Hindustan Petroleum Corporation Limited (HPCL) reported a significant 46% surge in standalone net profit to Rs 4,902 crore for the fourth quarter of FY26. The oil marketing giant also announced a final dividend of Rs 19.25 per share. Standalone total income saw a 4.5% year-on-year increase to Rs 1.24 lakh…

The Economic Times

Sensex to hit 89,000? Why Morgan Stanley is betting big on India Inc after 6-quarter slowdown

Morgan Stanley has turned more bullish on India, forecasting the BSE Sensex could rise to 89,000 by June 2027, implying around 15% upside from current levels. Strategist Ridham Desai said India is emerging from a six-quarter earnings slowdown into a stronger growth phase after a “mid-cycle” pause.

Homes & Gardens

The 'Ice-Cold' Bedroom Scent That Instantly Tricks Your Brain Into Feeling Cooler on Humid May Nights

Certain notes instantly relax your mind and body on hot and clammy nights

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The Economic Times

Diesel crunch leaves Indian truckers stranded in roadside lines

Truckers across India are facing long waits for diesel as private fuel stations have cut sales or raise prices. State-run companies are struggling with demand, leading to shortages. This situation has impacted the movement of goods nationwide. A modest price increase is expected soon, but it may not fully cover…

The Economic Times

Market under pressure: IT stocks face long-term headwinds as oil crisis and AI shift weigh on sentiment: Vinit Bolinjkar

Vinit Bolinjkar of Ventura Securities advises selling IT stocks. He highlights market risks from the Hormuz Strait crisis, foreign investor selling, as well as the global AI shift. Bolinjkar sees pressure on IT revenues and margins. He prefers Vodafone Idea in telecom. The consumer sector shows surprising strength this earnings…

MyLifeXP

Why Experts Fear India’s Toughest Economic Phase Yet

A single statement from banker Uday Kotak has suddenly sparked fear across India’s business and financial circles. “The shock is coming,” he warned while speaking about the growing Iran conflict and India’s dangerous dependence on imported oil. At first, it sounded like just another economic caution. But when India’s top…

The Independent UK

Oil prices fall after three-day rally as Trump heads to China

President says he doesn't think he’ll need Beijing’s help to end the US-Israeli war against Iran

Euronews

Heat pump sales soar in Germany as gas boiler sales drop. How does the rest of Europe compare?

More than 28 million heat pumps have been installed across Europe, outselling traditional gas boilers in many nations.

The Guardian - UK

Coconut dal, cheesy pickle toasties, carrot halva cakes: Ravinder Bhogal’s tastes of home – recipes

A three-course, south Asian feast: spicy coconut dal, a cheesy vegetable toastie with a knockout pickle, and a fudgy, spicy halva cake to finish

The Times of India

Saudi Arabia launched secret retaliatory airstrikes on Iran during regional war: Report

Saudi Arabia conducted unpublicized airstrikes on Iran in late March, marking the first direct military action on Iranian soil in retaliation for attacks within the kingdom. This shift in approach followed Iranian strikes on Gulf Cooperation Council states, leading to an informal de-escalation understanding between Riyadh and Tehran.

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