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The Latest Breaking News from Oil

Oil prices are volatile with potential easing of violence after an exchange of fire

Wall Street pointed toward gains and oil prices briefly rose more than $4 as fighting between Israel and Iran escalated

AAP

Shipping Ministry confirms attack on vessel carrying 24 Indian seafarers south of the Strait of Hormuz

A fire erupted on the oil tanker MT Marivex, located south of the Strait of Hormuz, with all 24 Indian seafarers aboard reported safe. India's Ministry of Ports, Shipping and Waterways is actively coordinating with other government bodies and Indian embassies overseas. The tanker was reportedly empty at the time,…

The Economic Times

Higher airfares can price out people from flying: IATA Chief Economist

Airlines plan to increase ticket prices to offset rising fuel costs. This move might make flying unaffordable for some travelers. Jet fuel prices are projected to surge significantly by 2026. Passenger ticket revenues are expected to climb, outpacing demand growth. Airlines typically pass on half of fuel cost increases to…

The Economic Times

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Miliband urged to visit Aberdeen amid oil and gas ‘extinction’ accusation

The Aberdeen South by-election has been called after former SNP Westminster leader Stephen Flynn was elected to Holyrood.

Evening Standard

BP says it paid £1.2bn in UK taxes last year amid Government plans to raise more

The energy firm said the total amount of taxes paid in 2025 include £422 million raised from the energy profits levy.

Evening Standard

Rupee slumps as elevated crude, Treasury yields support dollar

A raft of measures aimed at supporting the currency battered by the impact of the months-long Iran war had boosted the rupee to its best ‌day in ⁠two months ⁠on Friday.

The Economic Times

Stock Index Futures Climb as Tech Stocks Rebound, U.S. Inflation Data and SpaceX IPO Awaited

June S&P 500 E-Mini futures (ESM26) are up +0.71%, and June Nasdaq 100 E-Mini futures (NQM26) are up +1.40% this morning, signaling a rebound from Friday’s selloff on Wall Street as investors stepped in to buy the dip in technology stocks even as tensions in the Middle East pushed oil…

Barchart

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Ukrainian strikes hit oil sites in Russia and Crimea

Ukrainian forces have struck several oil facilities inside Russia and occupied Ukraine, aiming to make Moscow bear the economic cost of the war

The Independent UK

Starmer calls for return to ceasefire as Iran-Israel clashes push up oil price

The Prime Minister acknowledged the conflict was having an impact on the UK as he appealed for calm.

Evening Standard

The End of an Era: Mumbai Vendors Told to Stop Serving Vada Pav in Newspapers

For generations of Mumbaikars, enjoying a hot vada pav wrapped in a sheet of newspaper has been an integral part of the city's street-food culture. The sight of oily stains soaking through printed pages, coupled with a quick snack grabbed on the way to work, has long symbolized Mumbai's fast-paced…

Whats Hot

100 days of Iran war: India must brace for broad-based economic shock

In a volatile turn of events, escalating strikes between Iran and Israel are sending shockwaves that may reach India’s economy. As the specter of increased oil prices looms, disruptions in supply chains could become a reality. The Reserve Bank of India is on alert, with policymakers devising strategies to mitigate…

The Economic Times

Gold and silver ETFs slip up to 8% amid Israel attack and crude oil spike. What should investors do?

Gold and silver ETFs declined sharply on Monday as precious metal prices corrected on the MCX amid rising crude oil prices, inflation concerns and expectations of higher US interest rates. While the selloff weighed on returns, experts believe the correction offers a gradual accumulation opportunity for long-term investors through systematic…

The Economic Times

Inflation poses bigger risk than growth this fiscal as monsoon and crude weigh on rural demand: Nuvama

In FY27, India's economy grapples with inflation that hits hardest in rural regions, where rising food prices become an urgent concern. The eyes of policymakers are fixed on the monsoon's trajectory, a key determinant for crop health. Global factors, such as elevated crude oil prices and geopolitical strife, further exacerbate…

The Economic Times

Oil prices surge as Iran conflict flares, while global stocks skid on selling of tech shares

Global shares have declined after Wall Street ended last week with its worst day since October, while oil prices have jumped more than $4 as fighting flares between Israel and Iran

AAP

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The Economic Times

India has 76 days of fuel reserves, oil supplies secure: Hardeep Singh Puri

India possesses robust fuel reserves, sufficient for approximately one month of disruption. The nation's diversified sourcing strategy and expanding energy infrastructure provide a strong buffer. Petroleum Minister Hardeep Singh Puri expressed confidence that global supply shortages will be mitigated. Additional gas supplies will further strengthen energy security. India is well-positioned…

Evening Standard

Oil rises and stock markets under pressure as Middle East conflict steps up

Investors’ reaction to the resumption of hostilities was helping fuel a downturn in the world’s financial markets.

The Guardian - UK

Stock markets fall as concerns persist over tech firms at heart of AI boom

Drops follow sharp sell-off of US tech stock last week while oil prices seesaw after Iran and Israel exchange strikes

The Economic Times

OMCs losing nearly ₹700 per domestic LPG cylinder despite price hike: Govt

Cooking gas prices have risen again. Oil companies are still losing about ₹700 on each domestic LPG cylinder. International prices are up due to the West Asia conflict. This has increased supply costs significantly. Consumers pay less than global rates. Pradhan Mantri Ujjwala Yojana beneficiaries receive a subsidy on fewer…

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The Economic Times

100 days of Iran war, Rs 4,50,000 crore wiped out: Is your stock portfolio safe from missiles?

Indian equities have lost Rs 4.5 lakh crore in 100 days as the Iran-led West Asia conflict and a global AI trade unwind trigger sharp FII outflows. Banking, oil and IT stocks led declines, while pharma outperformed. Analysts warn of earnings downgrades, though valuations are turning attractive in select segments.

The Economic Times

From trickle to torrent: Hormuz reopening may trigger a global oil flood

The reopening of the Strait of Hormuz could trigger a faster-than-expected recovery in global oil supplies. With tankers already positioned near the Gulf and oil infrastructure largely preserved during the shutdown, producers are expected to ramp up output quickly once shipping resumes. Industry experts believe a significant portion of the…

The Economic Times

Oil market calm masks a host of unknowns

Global oil markets are experiencing an unusual calm despite a major supply shock. The Strait of Hormuz remains largely shut, impacting significant global supply. However, prices have retreated from highs. Uncertainties about global inventories, China's demand, and the true state of consumption create a precarious situation. Experts are operating with…

The Guardian - UK

Oil price falls back and Wall Street rallies after Iran announces ‘end of military operations’ against Israel – as it happened

Rolling coverage of the latest economic and financial news, as South Korea’s KOSPI index slumps by 8%

The Guardian - US

No electricity, no gas, no sleep: Cubans on edge amid endless outages

Four months into US oil blockade, Cubans see island drained as state electric company fights to provide even a few hours of power a day

The Independent UK

Ukraine-Russia war latest: Kyiv ‘recaptures area two times size of Birmingham’ as Zelensky calls Trump envoys

Zelensky says he has held a 'positive conversation' with Witkoff and Kushner about ending Putin's invasion

Euronews

Oil prices rise as Iran and Israel trade strikes in defiance of Trump

European markets opened lower and oil prices rose on Monday morning as investors monitored the latest escalation in the Middle East.

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