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The Latest Breaking News from Oil

Energy boss calls for ‘timely consent’ for Rosebank and Jackdaw projects

Adura chief executive Neil McCulloch spoke out as a consultation into developing Rosebank got underway.

The Independent UK

Current price of oil as of July 16, 2026

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

Fortune

Global Market: European shares edge lower as earnings, M&A activity offset by Middle East tensions

European shares traded slightly lower as investors assessed corporate earnings and merger news. Geopolitical tensions in the Middle East kept energy inflation concerns in focus for markets. Technology stocks showed mixed performance, with ASML and Publicis gaining on strong demand. ABB announced a significant acquisition, while Delivery Hero faced a…

The Economic Times

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Corporate demand resilient amid new opportunities opened up by FTAs, says Ficci chief

Indian companies have seen firm demand despite inflationary pressures, and global crude oil moderation and improving economic conditions have sustained business momentum across industries, according to Ficci President Anant Goenka. Automobiles, banking and telecommunications sectors are witnessing strong business activity and expansion, he said.

The Economic Times

US attacks oil tanker with Hellfire missiles as Trump sends new warning to Iran

IN FULL

The Independent UK

Pakistan urges US, Iran to end hostilities, resume talks amid renewed strikes

Pakistan urged the United States and Iran to cease hostilities and resume negotiations. Renewed military strikes between the two nations threaten regional stability and peace efforts. The Islamabad Memorandum of Understanding aimed for a permanent peace agreement within sixty days. Pakistan reiterated its call for maximum restraint and a commitment…

The Economic Times

Iran warns Strait of Hormuz is a 'red line' and will resist until the end

Iran vows to strike regional infrastructure if President Trump attacks its infrastructure. The US is targeting Iran's military capabilities while reimposing a naval blockade. Iran declared the Strait of Hormuz an inviolable red line for global oil shipments. Tehran warned neighbors against assisting US attacks, threatening retaliation. This escalation raises…

The Economic Times

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Ukraine says it strikes two Russian 'shadow fleet' tankers in Black Sea

The shadow fleet refers to ageing tankers that often operate under opaque ownership and changing flags to transport Russian oil while bypassing Western sanctions. Earlier in month, Kyiv struck eight tankers from Russia's 'shadow fleet' overnight as they were delivering fuel to Crimea. According to the SBU, the vessels Louise…

The Times of India

US expands strikes into northern Iran and disables ship trying to run blockade

The United States intensified its strikes against Iran, hitting targets farther north. Iran retaliated by launching missiles and drones at US allies in the region. The interim ceasefire has collapsed, leading to days of back-and-forth attacks. The conflict is focused on the Strait of Hormuz, impacting shipping traffic. Efforts continue…

The Economic Times

Global Market: Japanese bond yields climb as oil surge and fiscal concerns weigh on market

Japanese government bond yields climbed on Thursday due to rising oil prices. Higher energy costs fueled inflation expectations and investor worries about Japan's fiscal health. A Bank of Japan survey indicated widespread expectations of future price increases. Shorter-term bond yields also saw upward movement following the inflation concerns. Persistent fiscal…

The Economic Times

China's oil fortress will reshape the global order

China shielded itself from the Iran war's energy shock by cutting crude imports and restricting fuel exports. This move demonstrated its capacity to manage global energy flows independently. The nation's substantial oil stockpiles remain largely untapped, offering future strategic options. China's actions transformed it from a price taker to a…

The Economic Times

Say Goodbye to Brittle Nails With Affordable Nail Care and Smart Gel Nail Care Tips

Healthy nails don't have to cost a fortune. Discover gel nail care tips and affordable nail care products that help repair damage and prevent future breakage.

Fashion Times

China and India facing 100% tariff for buying Russian oil under new US sanctions bill

Donald Trump says there is a ‘good chance’ that this bill passes

The Independent UK

HSBC upgrades Indian equities to 'neutral' on easing oil prices, return of foreign flows

HSBC upgraded Indian equities to Neutral from Underweight on Thursday. Easing crude oil prices reduced earnings risks for Indian companies. Measures to stabilize the rupee drew back foreign investors into the market. The brokerage raised its 2026-end target for the BSE Sensex index. Foreign investors bought Indian shares worth $1.6…

The Economic Times

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Benzinga

Analyst Sees $4 Gas if Current Trends Continue, Warns Failure to Hit 9 Million Barrels Per Day Could Signal 'Demand Destruction'

Demand for gasoline in the U.S. could be falling as price volatility, fueled by ongoing escalations in the Middle East amid the U.S.-Israel and Iran war, poses challenges to the global oil supply chain.

The Economic Times

Rupee slips 6 paise to 96.31 against US dollar in early trade

The rupee weakened against the US dollar due to global crude oil volatility and a stronger greenback. Foreign institutional investor outflows continued to pressure the local currency in early trade. The West Asia crisis intensified with further strikes and retaliatory actions by Iran. Domestic equity markets opened positively, providing some…

The Independent UK

Oil prices lower despite US intensifying strikes against Iran

Asian shares are mostly lower and oil prices have fallen despite back-and-forth strikes between the US and Iran

The Economic Times

Oil is crude once again! Is $95 the new normal and what it means for Indian investors?

Crude oil prices are rising again due to escalating Middle East tensions. This surge impacts India's import costs and government finances significantly. Higher oil prices will likely pressure the Indian rupee and fuel inflation. Indian equity markets may experience a broad risk-off reaction. Sectors like aviation and logistics face increased…

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Euronews

Why this summer's heatwaves could raise your supermarket bill next year

While food inflation has eased across the eurozone, economists say this summer's extreme heat is now a bigger threat to next year's supermarket prices than the recent Iran war, as damaged harvests could outweigh the fading impact of higher oil and fertiliser costs.

The Independent UK

Iran-US war latest: US marines board tanker in Strait of Hormuz as Trump’s latest strikes kill seven

Tehran warns it could close a second key oil route as it retaliates against American allies

The Economic Times

Iran overplaying its hand on Hormuz? A new game has just begun in West Asia oil scene

As nations surrounding Iran pour billions into new pipeline networks, the significance of the Strait of Hormuz as an oil transit route is rapidly declining. Forecasts suggest that by 2030, these overland alternatives will overshadow maritime transport through the strait. This will likely lead to a reduction in Iran's capacity…

The Economic Times

Fujairah bunker fuel sales halve as US-Iran war disrupts supplies

Fujairah bunker fuel sales dropped significantly in early 2026. This decline occurred after the U.S.-Iran war impacted supplies near the Strait of Hormuz. Zhoushan port in China is now set to overtake Fujairah as a major hub. Supply disruptions continued to affect Fujairah's market throughout the period. Inventories briefly rebounded…

The Independent UK

US strikes expand into northern Iran as it disables ship trying to run blockade

The United States has intensified its strikes targeting Iran, hitting targets further north

The Economic Times

Sensex rises 200 points, Nifty above 24,100 amid Middle East jitters. What lies ahead?

Indian stock markets showed resilience on Thursday, with Sensex and Nifty gaining slightly. Geopolitical worries from the Middle East conflict did not significantly impact trading. IT stocks led the gains, while some banking shares experienced minor declines. The Indian Rupee remained stable against the US dollar, with oil prices showing…

The Guardian - UK

What is Ukraine’s 40-day campaign against Russia and has it worked?

Taking war to heart of Russian territory has seized initiative and reset Zelenskyy’s relationship with Trump

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