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The Latest Breaking News from Oil

Competition watchdog issues statement as SNP call for 'price gouging' investigation

The competition and consumer rights watchdog has issued a statement in response to the SNP calling for an investigation into fuel 'price…

The National (Scotland)

Global Markets: Australia shares log worst week in nearly a month with US-Iran talks stuck in limbo

Australian shares experienced their worst week in nearly a month, with the S&P/ASX 200 index closing down 0.7% on Friday. Escalating U.S.-Iran tensions and conflicting Middle East headlines left investors uneasy, prompting profit-taking and a reassessment of risks from high oil prices and geopolitical instability. Financials and resources sectors saw…

The Economic Times

Strong backing, but light touch: What is the RBI's rupee playbook?

The Reserve Bank of India will let the rupee's value be set by the market. It will only step in if trading becomes too unstable. Simultaneously, the RBI is introducing new plans to bring more foreign money into India. These steps aim to strengthen the country's finances amid global uncertainty.

The Economic Times

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US set to hold latest oil and gas lease sale for Alaska's Arctic National Wildlife Refuge

The Trump administration's push to expand oil and gas development in Alaska faces a new test Friday

AAP

Newsletter: Bust to boom? Europe’s most exclusive club might be getting bigger

Dozens of European leaders and heads of state from the six Western Balkan countries will be in Montenegro on Friday for talks about how to grow the European Union. Also in the newsletter: how Europe balances trade with the US and China.

Euronews

RBI MPC: India's Goldilocks moment dims, but the lights are not out

India's economic "Goldilocks moment" is shifting as the RBI raises its inflation forecast and lowers growth projections due to external shocks like the West Asia conflict and elevated oil prices. Despite these headwinds, the central bank believes strong domestic fundamentals, including resilient consumption and investment, will help cushion the blow.

The Economic Times

Stagflation risks rise as oil prices threaten global growth outlook: Peter Cardillo

Global economic outlook darkens with stagflation fears as energy prices fuel persistent inflation. Experts warn central banks may keep interest rates high longer than anticipated. Geopolitical tensions, particularly concerning Iran, are prolonging market uncertainty and could push oil prices back into triple digits, impacting global economic stability.

The Economic Times

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Pakistan discovers oil and gas well in Sindh that can produce 2000 barrels of oil per day

Pakistan's Oil and Gas Development Company Limited (OGDCL) has announced a significant oil and gas discovery in Sanghar district, Sindh province. The exploratory well Bodi deep-1 yielded 2,000 barrels of oil and 1.1 million cubic feet of gas daily, marking the first hydrocarbon find from the Massive Sand Play in…

The Economic Times

Friday briefing: How Gaza, Lebanon and Iran have found themselves caught in an escalation without end

In today’s newsletter: Global powers are focused on oil markets and elections but those living through conflict in the Middle East feel abandoned

The Guardian - UK

Indian companies willing to deepen presence in Venezuela, says Minister Hardeep Singh Puri

India is looking to deepen its energy partnership with Venezuela, with Indian companies expressing readiness to expand their presence. This move is part of India's strategy to diversify energy sources amid disruptions to global oil supplies caused by the West Asia conflict. Venezuela's vast oil reserves make it a key…

The Economic Times

RBI MPC Meeting 2026: West Asia war shock is a concern, but India can ride it out 'with minimum pain', says Sanjay Malhotra

2026 RBI MPC Meeting: The Reserve Bank of India acknowledges global economic challenges from the West Asia conflict. Rising energy prices and supply chain issues create headwinds. However, India has built strong buffers. Diversified oil sourcing and robust foreign exchange reserves protect the economy. The central bank remains confident in…

The Economic Times

RBI courts overseas investors as oil prices and capital outflows weigh on rupee

The Reserve Bank of India has introduced new measures to draw foreign investment. These steps aim to boost the country's finances and support the rupee. The RBI is easing rules for foreign investors in government bonds. It is also making it simpler for overseas Indians and residents to invest.

The Economic Times

Asian shares drop, with South Korea's Kospi down more than 5%

Shares have fallen in Asia, with South Korea's benchmark dropping more than 5%, after sharp declines for some big artificial intelligence-related stocks in the U.S. U.S. futures also retreated, while oil prices were little changed

The Independent UK

RBI Inflation FY2026-27: The inflation battle is back as RBI raises FY27 forecast to 5.1% amid West Asia war

RBI Inflation 2026-27 Forecast: The Reserve Bank of India has raised its inflation forecast for fiscal year 2026-27. This revision reflects rising food prices and ongoing global uncertainties. The central bank has paused its repo rate decision. Higher crude oil prices and supply chain issues are complicating the inflation outlook.…

The Economic Times

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The Economic Times

RBI GDP growth 2026-27: Forecast cut to 6.6% as oil, war and subpar monsoon risks mount

RBI GDP Growth 2026-27: The Reserve Bank of India has reduced its economic growth forecast for FY27 to 6.6 percent. This adjustment comes amid concerns over global conflicts, energy prices, and weather. The central bank has maintained the key interest rate at 5.25 percent. India's economy shows resilience, but future…

The Economic Times

Why the RBI kept rates unchanged amid oil, rupee and geopolitical pressures

RBI Repo Rate: The Reserve Bank of India has maintained its key interest rate at 5.25%. This decision prioritizes economic growth as inflation remains below the central bank's target. Despite rising oil prices and a weaker rupee, consumer price pressures are contained. Policymakers are monitoring global developments and will assess…

The Economic Times

RBI MPC Meeting 2026: Sanjay Malhotra & Co hold rates steady at 5.25% as oil shock, weak rupee & West Asia war cloud outlook

RBI Monetary Policy Meeting 2026: The Reserve Bank of India maintained the repo rate at 5.25%, balancing inflation risks from rising crude oil prices and a weakening rupee against the need to support economic growth. The decision comes amid geopolitical tensions and concerns over a below-normal monsoon, with the central…

The Independent UK

Iran-US war latest: American forces shoot down Iranian ballistic missiles targeting Kuwait and Bahrain

US military also downs drones over Strait of Hormuz, saying they ‘posed an immediate threat to regional maritime traffic’

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The Economic Times

US job growth likely slowed in May, labor market seen stable despite oil shock

America's job growth is expected to slow in May after strong previous months. The labor market remains stable. Economists believe the Middle East conflict has not yet significantly impacted jobs. Fiscal stimulus is supporting businesses. Businesses are cautious about hiring due to uncertainty. Layoffs are low, maintaining a balanced job…

The Economic Times

Hezbollah rejection clouds Lebanon ceasefire and prospects for ending Iran war

Hezbollah rejected a U.S.-brokered ceasefire in Lebanon, vowing to continue resistance, while Israel stated it would not withdraw troops. This undermines President Trump's efforts to halt regional fighting and forge peace with Iran, which has made a Lebanon ceasefire a condition for any deal.

The Guardian - UK

Scramble for biofuel as oil prices rise ‘could push world closer to food crisis’

Experts say increased use of crops for fuel is ‘dangerous game’ that could send food price inflation soaring

The Times of India

Oman suspends crude loading after explosion at key oil export terminal

Oman’s Mina al Fahal terminal has suspended oil loading operations after an explosion near its single-buoy mooring (SBM) berths, according to two people familiar with the matter.

The Economic Times

RBI MPC Meeting 2026 Date and Time: When will Governor Sanjay Malhotra announce policy decision? Here's how to watch live streaming

RBI MPC Meeting June 2026: All eyes are on the Reserve Bank of India today as Governor Sanjay Malhotra announces the Monetary Policy Committee's decision. This crucial announcement will reveal the central bank's stance on interest rates and inflation. Investors are keenly awaiting signals on economic growth and stability amidst…

The Economic Times

Oil Price Today (June 5): Crude oil holds ground as Iran peace deal uncertainty lingers. Where are prices headed?

Oil prices held steady on Friday following significant Thursday losses. Hopes for a quick resolution to the U.S.-Israeli conflict with Iran diminished after Hezbollah rejected a new ceasefire proposal. Despite this, both Brent and WTI crude benchmarks are on track for their first weekly gain in three weeks.

The Economic Times

Oil little changed on uncertainty over US-Iran peace deal

Oil prices saw little change on Friday after a significant drop. Hopes for an early end to the U.S.-Israeli conflict with Iran have faded. This follows the Hezbollah militia rejecting a new ceasefire in Lebanon. Fighting in the Middle East has caused oil prices to rise this week. Global oil…

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