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The Latest Breaking News from Oil

Fitch cuts FY27 growth projection to 6.4%; US-Iran war to slow down economy

Fitch Ratings has reduced India's GDP growth projection to 6.4 percent for the current fiscal year. The US-Iran war is expected to slow economic activity in the September and December quarters. Rising prices will dampen consumer spending. For FY28, growth is expected to pick up to 6.7 percent. Fitch also…

The Economic Times

Asian shares are mixed as tech stocks rebound from sell-offs, while oil prices slip

Asian shares are mixed, with tech shares leading gains after Wall Street recovered some of its sell-off from last week

AAP

Petrol, Diesel Price today: Check fuel rates in Delhi, Mumbai, Lucknow, Bhubaneswar and other cities

Today Petrol, Diesel Price June 9: Fuel prices in India remain at their highest since May 2022, with petrol and diesel seeing cumulative hikes of around ₹7.5-₹8 per litre due to the West Asia conflict impacting global crude oil prices. Despite recent minor fluctuations, oil marketing companies continue to face…

The Economic Times

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Indian economy, government finances, see mounting costs from Iran war

India's economy, once humming with benign inflation and steady growth, now faces mounting costs from the Iran war. As a major oil importer, disruptions to supply and elevated prices are impacting growth, inflation, and government finances. The central bank's ability to manage these shocks is increasingly difficult.

The Economic Times

Why are oil prices up today, and will Brent and US WTI crude futures continue to rise or fall again? Oil edges higher as investors watch Iran-Israel developments

Why are oil prices up today, and will Brent and US WTI crude futures continue to rise or fall again? Oil prices moved slightly higher as traders assessed the latest developments between Iran and Israel. Although both countries announced a halt to attacks after calls from U.S. President Donald Trump,…

The Economic Times

Oil Price Today (June 9): Crude oil falls 1% as Israel and Iran pause strikes. Where is liquid gold headed?

Oil prices eased in early Tuesday trading after Iran and Israel indicated a pause in hostilities, reducing immediate concerns over supply disruptions. However, both countries kept the door open for renewed military action despite agreeing to halt attacks following an appeal from U.S. President Donald Trump.

The Economic Times

Donald Trump says US will declare ‘total victory’ over Iran within two weeks

President Trump expressed confidence in ongoing negotiations with Iran, predicting a "total victory" within two weeks. He stated that Iranian officials are seeking a "very good deal" and are prepared to make significant concessions, including abandoning nuclear weapons. Trump anticipates this outcome will lead to a sharp decline in oil…

The Times of India

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Ukraine war briefing: Russia’s Peskov admits ‘certain problems’ with fuel supplies after energy sites targeted

Ukrainian forces continue strikes on oil facilities in occupied Crimea and Russia proper; French jet downs drone in Latvian airspace. What we know on day 1,567

The Guardian - AU

Gift Nifty hints at muted start for D-Street; key trading cues for today

Indian benchmark indices experienced a sharp sell-off on June 8, influenced by global market weakness, escalating geopolitical tensions, and rising crude oil prices. Analysts note the Nifty has approached immediate support at 23,000-23,200, a confluence of a bullish gap and retracement level. Foreign portfolio investors were net sellers, while domestic…

The Economic Times

Florida father of 3 dies after a pot of oil left on the stove sparks an apartment fire, his two young children survive

The class clown with a big heart is gone.

We Got This Covered

Soybeans Face Monday Weakness

Soybeans saw lower trade for much of Monday, with contracts fractionally to 5 ¾ cents in the red. The cmdtyView national average Cash Bean price was down 5 3/4 cents at $10.57 1/2. Soymeal futures were down 20 cents to $5.80 in the front months, with Soy Oil futures 44...

Barchart

Cotton Closes Firm on Monday

Cotton futures posted mixed trade of 36 points lower to 13 points higher across most contracts on Monday. The US dollar index was down $0.101 at $99.95. Crude oil was up 74 cents on the day. Monday afternoon’s Crop Progress showed 77% of the US cotton crop planted as of...

Barchart

20-Year-Old Jacob Smith Admitted to ICU After Jalani Bluett Throws Hot Oil at a McDonald's; Fundraiser Reaches $96K

Jacob Smith, a 20-year-old McDonald's shift manager, remains in intensive care after a coworker allegedly threw hot oil on him at a Yuba City restaurant. His fundraiser has topped $96,000.

International Business Times UK

Iran War Upends the Global Oil Industry: Kiplinger Special Report

Even after the war ends, oil producers and importers will be racing to lessen their reliance on oil shipments through the Persian Gulf.

Kiplinger

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MyLifeXP

Is an Electric Car Really Cheaper in the Long Run?

Electric cars have become increasingly popular in recent years. Rising fuel prices, growing environmental concerns, and advances in battery technology have encouraged many drivers to consider making the switch. One of the biggest claims made about electric vehicles (EVs) is that they save money over time. However, buying a car…

Barchart

Broader Market Settles Higher as Chipmakers Rally

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.30%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.58%. June E-mini S&P futures (ESM26 ) rose +0.18%, and June E-mini Nasdaq futures...

The Mary Sue

SpaceX’s IPO Has Wall Street Worried

Wall Street is worried about an AI bubble as SpaceX readies its massive IPO this week. Maybe regular people should be concerned? A new report from Fortune crystalizes those concerns for the larger masses. They said that investors were selling off stocks this morning as oil prices rose and strikes…

AAP

Wall Street holds steadier as AI stocks recover some of their sell-off

Wall Street held steadier and recovered some of its sell-off from last week

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Fortune

The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic

Iran's grip on the Strait of Hormuz is adding $100 billion to airlines' collective fuel bill this year.

Barchart

Crude Oil Prices Edge Higher on Shaky Middle East Ceasefire

July WTI crude oil (CLN26 ) on Monday closed up +0.76 (+0.84%), and July RBOB gasoline (RBN26 ) closed up +0.0247 (+0.81%). Crude oil prices settled higher on Monday amid a flare-up in hostilities between Iran and Israel that threatens to derail a truce and complicate negotiations to end the...

AAP

BC-OILS

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

We Got This Covered

McDonald’s employee had hot oil allegedly thrown in his face by a co-worker. Then he thanked God: ‘I’m so thankful’

"I'm not sad, and I'm not angry, and the pain doesn't cause me grief because I know it's necessary to heal."

Bangkok Post

KKP sees 2% current account deficit in Q2

Thailand's current account is expected to register a deficit of around 2% of GDP in the second quarter before rebounding later in the year as global oil prices decline, according to Kiatnakin Phatra Financial Group (KKP).

Barchart

Soybean Weakness Sliding to Monday

Soybeans are slipping 2 to 5 ½ cents lower in most contracts on Monday. The cmdtyView national average Cash Bean price is down 5 1/2 cents at $10.58 3/4. Soymeal futures are down $4.30 to $5.20 in the front months, with Soy Oil futures down 4 to 8 points higher....

Barchart

Cotton Holding Firm on Monday

Cotton futures are trading with 5 to 15 point gains, with July the exception, down 25 points at midday. The US dollar index is down $0.106 at $99.94. Crude oil us up 79 cents so far on the day. Weekly CFTC data showed spec funds trimming 1798 contracts from their...

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