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The Latest Breaking News from Oil

Current price of oil as of June 2, 2026

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

Fortune

India bonds end flat as RBI policy caution offsets cooler oil

Brent crude and U.S. Treasury yields eased in Asian trade, taking some pressure off ‌India's oil-sensitive ⁠curve.

The Economic Times

Iran studying deal to halt war as stalemate persists

As President Donald Trump claims talks to extend the US-Iran ceasefire continue, Tehran says it's taking a "stern" approach to hammering out a deal.

AAP

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Indian refiners shift to soyoil in May as palm oil loses price advantage

India's edible oil imports increased in May, driven by a surge in soyoil purchases. Palm oil imports saw a slight rise but remained below average. Refiners favored soyoil as its price advantage over palm oil narrowed. Cooking gas shortages also impacted palm oil demand from bulk consumers. Overall edible oil…

The Economic Times

Stock Index Futures Muted as Investors Parse Middle East Developments, U.S. JOLTS Report in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.14%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.01% this morning, taking a breather after a recent rally, while investors assess the prospects for an end to the Middle East conflict.

Barchart

RBI contains rupee's fall, shrinks dollar-rupee forward premiums

The Indian rupee and dollar-rupee forward premiums declined as importer hedging, foreign portfolio outflows, and likely central bank interventions across FX market segments exerted opposing forces. Despite Reserve Bank of India's dollar-selling interventions and buy/sell swaps, pressure on the rupee is expected to persist due to weak capital flows and…

The Economic Times

AI and energy security drive investment focus at Baku Energy Week 2026

Baku Energy Week 2026 showcased how AI, digitalisation and regional gas diplomacy are reshaping the global energy sector, as companies and officials increasingly focus on competitiveness, energy security and cleaner technologies.

Euronews

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MiQ certifies Shell's full Gulf of America production portfolio at Grade A for methane emissions performance

LONDON, June 2, 2026 /PRNewswire/ -- MiQ, the global leader in methane emissions certification, today announced that it has certified Shell Offshore Inc. (Shell)'s entire production portfolio in the Gulf of America (GoA), making Shell the first operator to achieve MiQ certification in the basin. All 10 of Shell's production…

AAP

India Inc sails past fourth-quarter estimates, but oil shock clouds outlook

Indian companies achieved better-than-expected profits in the March quarter. Domestic activity was strong, supported by tax cuts and easy money. However, the ongoing Iran conflict is creating an energy shock. This is expected to impact future company earnings negatively. High oil prices and supply issues pose risks to the economic…

The Economic Times

The perfect dinner party menu: cocktails, roast chicken and cake

Food writer Eleanor Steafel believes the best entertaining food isn’t the most complicated – it’s the sort people actually want to eat. In her new cookbook, ‘But First, Dinner’, the answer is a tray of cocktails, roast chicken with pepper sauce, a ‘goes-with-everything’ salad and a traybake pudding made for…

The Independent UK

RBI MPC: Iran war puts Malhotra & Co in razor-edge policy bind over inflation, growth and rupee

The Reserve Bank of India faces a difficult interest-rate decision this week as rising oil prices from the Iran conflict, a record-low rupee and a weak monsoon threaten to slow growth while pushing up inflation.

The Economic Times

Markets gain and oil drops as Trump's peace signals reassure investors

Oil prices retreated around 4% from Monday’s highs as markets responded positively to US President Donald Trump’s reassuring comments that negotiations with Iran are progressing.

Euronews

Maruti Suzuki to fuel India's ethanol shift with first flex-fuel car that's coming soon

India's auto sector is set for a revolution with Maruti Suzuki launching the country's first mass-market flex-fuel passenger vehicle. This move supports green mobility and reduces oil imports. The vehicle can run on petrol and ethanol blends up to 100 percent. This initiative boosts the rural economy and promotes cleaner…

The Economic Times

Nifty at 25,900 by March 2027? Nomura cites key catalysts to watch out for

Indian stocks have seen a sharp fall. Nomura predicts the Nifty will climb almost 11% to reach 25,900 by March 2027. This optimism stems from hopes of a West Asia conflict resolution and a strong AI theme. Despite recent selling by foreign investors, Indian equities have shown resilience. Nomura favors…

The Economic Times

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The Economic Times

RBI may have sold gold to save foreign reserves, BE report shows

The RBI may have sold about $12 billion worth of gold reserves in the two weeks through May 22 to protect its foreign-currency assets amid capital outflows and rising oil prices, according to Bloomberg Economics. The move suggests policymakers are prioritising liquid forex reserves as Middle East tensions pressure the…

The Guardian - UK

BP backs Amanda Blanc to lead search for new chair despite investor concerns

Senior independent director to handle process again after Albert Manifold’s shock departure last week

Euronews

Watch: The oldest trick in the book—how Russia’s shadow fleet hides from global tracking

Last Sunday, French maritime forces, operating alongside the UK, intercepted a sanctioned Russian oil tanker that was part of the shadow fleet. What actually is this ghost fleet, and how does it affect Europeans?

The Economic Times

The Iran war is pushing the global gas trade into the shadows

As the Strait of Hormuz remains under Iranian control amid the ongoing West Asia conflict, Qatar has quietly resumed some LNG exports by adopting tactics more commonly associated with the oil industry's “shadow fleet.” LNG carriers are increasingly switching off transponders, travelling in pairs, and making “dark transits” through the…

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The Economic Times

A ₹3 lakh crore rain check? India’s monsoon now comes with a Hormuz fine print

India’s fertiliser supply chain is under strain as the West Asia conflict disrupts shipping through the Strait of Hormuz, a critical route for imports. The crisis comes just as India faces a below-normal monsoon forecast, with the IMD projecting rainfall at 90% of the long-term average and a 92% probability…

The Economic Times

Why Asia's oil lifeline can't survive on US crude alone

Asian nations are receiving more crude oil from the United States. However, these increased shipments cannot fully replace oil lost due to the closure of the Strait of Hormuz. This situation is creating supply challenges for refineries. Experts believe prices for refined fuels may rise. Less developed countries in Asia…

The Economic Times

Hormuz gauntlet runner says Trump has been good for shipping

Dynacom Tankers Management founder George Procopiou stated that US President Donald Trump's policies have benefited the shipping industry.

The Economic Times

Oil rally may fuel stagflation concerns, though AI remains market's key driver: Arnab Das

Renewed Middle East tensions are driving oil prices higher, fueling inflation and economic growth concerns. Despite market optimism, significant challenges remain in resolving issues with Iran, and markets may not have fully priced in potential disruptions, particularly around the Strait of Hormuz.

The Economic Times

US Stock Market: Treasury yields rise after strong US data, geopolitical risks fuel inflation fears

US Treasury yields closed higher on Monday as stronger-than-expected manufacturing and construction data reinforced economic resilience, while uncertainty over US-Iran diplomacy and rising oil prices fueled inflation concerns. Investors reassessed Federal Reserve rate expectations amid geopolitical risks, pushing benchmark yields higher and lifting market-based inflation forecasts.

The Independent UK

Oil prices fall after Trump claims to have ended Israeli attacks on Lebanon

Brent crude slipped 0.6 per cent to $94.45 a barrel, retracing some of Monday’s gains

MyLifeXP

Why This Rare June Amavasya Is More Powerful Than Usual

Not all Amavasyas are the same. Some carry a spiritual weight that makes devotees pay extra attention to every ritual, prayer, and decision. Jyeshtha Adhik Maas Amavasya is one such occasion. Falling during the rare Adhik Maas, this sacred day is associated with Pitru Tarpan, charity, and seeking blessings from…

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