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The Latest Breaking News from Oil

Trump Hails Military as 'Oil Is Flowing Like Never Before'—Data Shows 10% of Global Refining Capacity Is Offline

President Donald Trump declared that “Oil is flowing like never before” due to United States military efforts keeping the Strait of Hormuz open.

Benzinga

Science behind boiling lemon peels with bay leaves: What studies say about this popular practice and its benefits

Boiling lemon peels and bay leaves creates a pleasant home fragrance through aromatic compounds. These natural ingredients release scents when heated, filling rooms with a citrus-herbal aroma. However, this method primarily masks odors rather than eliminating their sources effectively. Scientific studies on insect repulsion use concentrated oils, not simmered ingredients.…

The Economic Times

Ethanol small share of son's business, mileage loss due to blending is minor, Nitin Gadkari says

Minister Nitin Gadkari defended the ethanol blending programme against criticism. He stated his family's business involvement is minimal and not influential. Gadkari dismissed claims of vehicle engine damage from E20 fuel. He highlighted the programme's role in reducing pollution and oil imports. The minister also addressed highway construction quality concerns.

The Economic Times

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Oil prices rise above $85 as US strikes Iran for second night

US Central Command says forces struck missile and drone facilities, naval assets and coastal defence systems in Iran overnight

The Independent UK

Indian bonds gain as soft US inflation cools Fed rate hike bets

Indian government bonds saw gains as US inflation eased, reducing immediate rate hike fears. Treasury yields declined, prompting a similar trend in Indian overnight index swap rates. Markets largely overlooked rising oil prices and their impact on domestic inflation. Anticipation of a delayed Federal Reserve rate hike cycle supported bond…

The Economic Times

Tehran threatens to halt all Mideast energy exports after US reimposes its blockade on Iran

The United States reimposed a blockade on Iranian ports over ship attacks. Iran retaliated with strikes on nations hosting American forces. This escalation threatens to push the region back toward full-scale war. Talks over Iran's nuclear program have stalled amid intensified fighting. The conflict impacts global oil and natural gas…

The Economic Times

Rupee edges higher; options market gauge turns most bearish in over a month

The Indian rupee strengthened modestly on Wednesday against the U.S. dollar. Easing U.S. Federal Reserve rate hike bets supported the rupee's upward movement. Elevated oil prices and Middle East tensions caused trader caution and market anxiety. The Reserve Bank of India's daily reference rate saw significant dollar selling. Bond yields…

The Economic Times

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Heating oil customers to get up to £350 compensation for cancelled orders

Watchdog says about 1,700 people were affected during a price surge triggered by the Middle East crisis

The Guardian - UK

‘I used to be ashamed of curry’: Nisha Katona on identity, acceptance and Britain’s love affair with Indian food

Once ashamed of the food she grew up with, Nisha Katona has made it her life’s work to bring curry to the British masses. She tells Lauren Taylor about identity, acceptance and why the family recipes we inherit are too precious to take to the grave

The Independent UK

Cuba plunged into third nationwide blackout in two weeks as power grid collapses

Fuel has been scarce across Cuba since January, when US President Donald Trump threatened to impose tariffs on any nation that supplies or sells oil to the island, exacerbating the island's continuing financial and economic crises.

Euronews

Trump Abandons 20% Strait of Hormuz Fee, Says Gulf States Will Make 'Record' Investments in the US as CENTCOM Reaffirms Naval Blockade

President Donald Trump has abandoned the idea of imposing a 20% fee on all vessels traveling through the Strait of Hormuz after floating the idea on Monday, demanding compensation in exchange for safe passage through the waterway.

Benzinga

Crude shipments from Saudi Arabia's Yanbu port near maximum levels amid Houthi tensions

Saudi Arabia is maximizing oil exports through its Yanbu port this week. Increased loadings at Yanbu reflect rising tensions with Yemen's Houthi militia. The kingdom is also considering pipeline expansion to bypass the Strait of Hormuz. Shipments from Yanbu have averaged over four million barrels daily recently. Concerns exist that…

The Economic Times

Why Poland Thinks Only Modi Can Influence Putin

In global politics, very few leaders can speak to both sides of a conflict without being seen as biased. That is exactly why Poland's Deputy Foreign Minister has placed Prime Minister Narendra Modi in a unique position in the Russia-Ukraine war. His remarks have sparked a fresh debate across the…

MyLifeXP

'Region's oil and gas exports are either for everyone or for no one': IRGC warns after claiming strikes on US 5th fleet base in Bahrain

Iran's IRGC warned of targeting oil routes for US allies after striking a naval base. The force claimed destruction of command centers and fuel tanks at the base in Bahrain. US forces conducted strikes on Iranian military targets near the Strait of Hormuz. These strikes aimed to degrade Iran's ability…

The Economic Times

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Pedestrian.tv

How Will Trump’s Latest Iran Strikes Impact Australia’s Petrol Prices?

Donald Trump has ordered fresh US strikes on Iran. Here’s how it could affect Australian petrol prices at the bowser.

The Economic Times

Gold prices fall Rs 1,500/10 gram, silver dips Rs 2,100/kg as oil rally outweighs US inflation data. What should investors do?

Gold and silver prices fell on the MCX on Wednesday as surging crude oil prices reignited inflation worries and dampened hopes of U.S. rate cuts, weighing on demand for precious metals. Gold futures slipped Rs 1,517 per 10 grams, while silver futures dropped Rs 2,125 per kg, reversing gains from…

The Independent UK

Iran-US war latest: Trump says Tehran ‘better behave’ as US launches second wave of strikes in 24 hours

Trump did not identify the US citizen, but said she was ‘wrongfully detained in December of 2024’

The Economic Times

China's June oil throughput hits lowest level since pandemic on Iran war woes

China's crude oil processing in June reached its lowest point since the pandemic began. This decline occurred as global supply tightened and domestic demand weakened significantly. Refinery throughput fell substantially from the previous year, impacting overall production levels. Crude oil output also saw a slight decrease year-on-year during the first…

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The Economic Times

Iran-linked vessels pass through Hormuz ahead of US blockade

Vessels transited the Strait of Hormuz linked to Iranian trade before a US blockade took effect. Nine of eleven vessels passed through the strait via the Iranian route on Tuesday. Three empty oil tankers entered the strait while others exited with Iranian exports. Attacks on commercial ships intensified, causing a…

The Economic Times

US Russia sanctions bill cuts India, China tariff threat from 500% to 100%

US Senate unveiled a revised Russia sanctions bill with softened oil tariff penalties. Major buyers like India and China will face up to 100% tariffs instead of 500%. The bipartisan legislation targets Russian officials and financial institutions while discouraging oil purchases. It includes exemptions for countries reducing their natural gas…

The Times of India

'Hormuz to remain closed until end of America's evils': Iran defiant as US continues strikes

Iran's Revolutionary Guards said the Strait of Hormuz will remain closed until the "end of America's evils". It further warned that other oil and gas export routes serving the interests of the US and its allies could also be shut.

The Economic Times

Oil Price Today (July 15): Crude oil above $86/bbl as US-Iran exchange fresh strikes. Bigger surge brewing?

Brent crude settled at its highest level since June 12 for a second consecutive session, while West Texas Intermediate (WTI) closed at its strongest level since June 15.

Times Life

Why the Skin Around Your Eyes Is Aging Faster and What Retinol and Sunscreen Can Do

The Anatomy That Makes This Area VulnerablePeriorbital skin, the tissue encircling the eye socket, has almost no sebaceous glands. That means it produces little to no natural oil, leaving it without the lipid barrier that keeps the rest of your face plump and protected. At roughly 0.5 mm thick, it…

The Economic Times

Gold edges higher on soft US inflation, Gulf conflict clouds rate outlook

Gold prices saw a slight increase on Wednesday as inflation data eased rate hike worries. Renewed Middle East conflict and rising oil prices, however, limited gains for the precious metal. Traders now anticipate a lower probability of a U.S. interest rate increase this year. Investors await China's economic data, which…

The Economic Times

Dollar struggles as softer inflation dims Fed hike bets

The dollar weakened significantly after softer inflation data emerged on Wednesday. This data curbed expectations for an immediate Federal Reserve interest rate hike. However, elevated oil prices continue to pose potential inflation risks for the economy. Bond yields also declined following the surprisingly soft consumer price index report. Traders now…

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