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The Latest Breaking News from Oil

Former Defense Secretary Mark Esper Backs Trump's Iran Blockade: 'the Right Move'

Former Defense Secretary Mark Esper on Monday backed President Donald Trump’s decision to reinstate a U.S. naval blockade of Iranian ports, calling it the "right move" as Washington claims a bigger security role in the Strait of Hormuz.

Benzinga

Mexico relies heavily on Texas natural gas. The Trump administration could imperil that relationship.

Despite efforts to boost domestic energy production, Mexico will continue to depend on Texas for natural gas, experts said, undermining its stated goals of energy independence.

The Texas Tribune

Woman Refuses $40 Air Filter At Take 5. Then She Sees What The Worker Wrote On Her Receipt

"Wanted to charge me $130..."

Motor1

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‘Pirates of Hormuz’: Brazil PM Lula attacks Trump's 20% shipping toll, calls it ‘piracy’

Brazilian President Luiz Inácio Lula da Silva has openly criticized Donald Trump's suggestion to impose a fee on ships traversing the Strait of Hormuz, branding the U.S. as a 'pirate state.' Trump claimed that the U.S. would assume the role of guardian over this vital waterway. This development emerges amid…

The Times of India

Vedanta charts $5 billion oil & gas push, targets sharp capacity expansion across businesses

Vedanta plans to significantly increase zinc and lead production capacity by 2031. Aluminium production capacity will double over the next three years. The company targets iron and steel output expansion to fifteen million tonnes annually. Vedanta will invest five billion dollars in its oil and gas business. This expansion aims…

The Economic Times

Ukraine downs 5 Russian ballistic missiles as Kyiv looks to harden air defenses

Ukraine’s air force says its air defenses have intercepted five ballistic missiles launched by Russia in overnight attacks

The Independent UK

Current price of oil as of July 14, 2026

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

Fortune

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India's June vegetable oil imports fall 29% on shrinking palm oil discount: SEA

India's vegetable oil imports dropped significantly in June, reaching the lowest point this oil year. This decline was primarily driven by reduced palm oil purchases, which saw a notable decrease. Soybean oil imports also fell, while sunflower oil shipments experienced an increase during the same period. Despite the June dip,…

The Economic Times

Why stock market fell today? Rising oil prices among key factors behind Rs 3 lakh crore wealth erosion

Benchmark indices Sensex and Nifty fell sharply on Tuesday as soaring crude oil prices, renewed rate hike fears, weak Q1 earnings from HCL Tech, a weaker rupee and fragile global cues triggered broad-based selling.

The Economic Times

Trump's Strait of Hormuz Blockade Could Push Oil Higher, Gas Prices Could Reach $4 a Gallon, Analyst Says

GasBuddy analyst Patrick De Haan on Monday cautioned against gas prices in the U.S. likely spiking as tensions between Washington and Tehran escalate over the Strait of Hormuz.

Benzinga

Trump's Strait of Hormuz Plan Explained: Can the US charge ships and what it means for India

Strait of Hormuz Explained: US President Donald Trump's proposal to impose a 20% charge on cargo passing through the Strait of Hormuz has sparked a sharp rebuttal from Iran and raised fresh concerns over oil prices, global trade and India's economy. Here's what international law says, why the UN opposes…

The Economic Times

Bitcoin consolidates near $62K as US-Iran tensions and inflation fears keep investors cautious

Bitcoin hovered near $62,500 as escalating US-Iran tensions, rising oil prices and inflation concerns kept investors on edge ahead of key US CPI data and Fed Chair Kevin Warsh's testimony. Despite short-term caution, on-chain accumulation by long-term holders and institutional interest continue to support the broader crypto market outlook.

The Economic Times

BP set for further boost from oil prices, but braces for £740m write-down

The oil giant will report second quarter figures on August 4.

Evening Standard

Japan's Nikkei rallies on bargain-hunting, Kospi recovery

Japan's Nikkei share average rallied on Tuesday, reversing an earlier slide. Bargain-buying and a recovery in South Korea's Kospi supported the market's upward movement. Higher oil prices and central bank policy remained key concerns for investors globally. Mitsubishi UFJ Financial Group reached an all-time high, boosting the banking sector. Shiseido…

The Economic Times

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The Economic Times

German yields hit 2-year high as Middle East conflict stokes inflation fears

German two-year bond yields reached their highest point since July 2024. This rise occurred as Middle East conflict fears boosted inflation and interest rate expectations. Money markets now anticipate the European Central Bank raising its deposit rate significantly. Oil prices also climbed due to renewed U.S. naval blockades of Iran.…

Marie Claire

From Candles to Body Creams—These Lifestyle Picks Impressed Our Judges Most at the Marie Claire UK Fragrance Awards

The best products to scent your home (and body)

The Economic Times

Global Market: European shares fall as US-Iran tensions rattle markets; BP gains, Ericsson slumps

European shares fell at the open as escalating US-Iran tensions dented risk appetite, while investors assessed earnings from BP, Ericsson and Evotec amid rising oil prices.

The Economic Times

India inflation risks mount on renewed US-Iran tensions, El Nino

India's inflation faces an uncertain future outlook. Renewed tensions in the Strait of Hormuz may increase oil prices. An intensifying El Niño raises concerns about higher food costs. Economists expect the Reserve Bank of India to maintain rates. Policymakers are watching closely for broader price pressures.

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The Independent UK

Oil prices surge after Trump announces cargo toll in Strait of Hormuz

IN FULL

The Guardian - UK

Oil, gas and UK government borrowing costs prices jump as Middle East tensions ratchet higher – as it happened

Oil prices hit four-week highs and European shares fall after fresh US-Iran attacks and blockade on Iranian shipping

The Conversation

Australians brace for higher fuel prices as US-Iran conflict resumes (again)

Iran and the United States have ended their fragile peace agreement, signed only a month ago, with the exchange of missile fire.

The Economic Times

Oil traders call Trump's Hormuz bluff at their peril

Iran and the U.S. have announced rival blockades of the Strait of Hormuz. This action cripples an already fragile ceasefire deal between the two nations. Global oil reserves have been significantly depleted after a recent conflict. This leaves the energy market with a smaller margin for error. Investors may be…

The Economic Times

Global Market: UK bond yields hit one-month high as Middle East tensions boost rate-hike expectations

Middle East tensions are driving oil prices higher and impacting global energy supplies. This surge in oil prices is fueling inflation concerns and influencing monetary policy expectations. Investors now anticipate the Bank of England will maintain elevated interest rates for a longer duration. Higher bond yields signal increased borrowing costs…

The Economic Times

Capitalmind Flexi Cap Fund drops Vedanta Power, Vedanta Iron & Steel and 8 other stocks in June. Check details

Capitalmind Flexi Cap Fund completely exited 10 stocks, including Vedanta Power and Vedanta Iron and Steel, in June while adding seven new names such as JSW Steel, Apollo Hospitals Enterprise, and Zydus Lifesciences. The fund increased exposure to five stocks and made no reductions elsewhere. It held 35 stocks across…

Euronews

Oil prices extend run higher as fighting flares in the Middle East

Oil prices climbed early Tuesday as fighting intensified in the Middle East, while Asian shares declined, dragged lower by losses for artificial-intelligence stocks.

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