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The Latest Breaking News from Oil

Silver, gold open flat as investors assess Iran war peace deal uncertainty. Where are precious metals headed?

Gold and silver prices were largely steady on MCX on Tuesday, with gains capped by a stronger U.S. dollar and higher crude oil prices as markets awaited U.S. President Donald Trump's decision on extending the Iran ceasefire. MCX silver futures for July 2026 rose Rs 167 to Rs 2,66,350 per…

The Economic Times

India's CPI inflation expected to rise to 4.8% with crude oil averaging USD 90/bbl in FY27: Report

Forecasts indicate that by FY27, India’s inflation could hit 4.8%, driven by crude oil prices projected at USD 90 per barrel. Factors such as the ongoing conflict in West Asia and a less favorable monsoon outlook are pivotal. Economic growth might taper to 6.3%, with both fiscal and current account…

The Economic Times

Ukraine-Russia war latest: Putin ‘is being misled by his own generals’ as Zelensky warns he could strike again

Putin believes his forces can achieve his goals despite Russia’s battlefield performance steadily declining in 2026, says think tank

The Independent UK

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Petrol, Diesel price changed today on June 2? Check fuel rates in Delhi, Mumbai, Chennai, Gurgaon and other cities

Petrol, Diesel price today (June 2): Petrol and diesel prices remained stable nationwide on Tuesday, June 2, 2026, despite recent increases in crude oil prices. Analysts indicate state-run oil companies are still facing marketing losses on both fuels. Global oil prices saw minor fluctuations amid U.S.-Iran ceasefire uncertainty and Strait…

The Economic Times

An alternative to the Strait of Hormuz? Why Iran is eyeing Yemen's Bab al-Mandab

Escalating Middle East tensions are now focusing on the Bab al-Mandab Strait, a crucial global shipping lane. Iran, via its Yemeni allies, may use this chokepoint to pressure adversaries, potentially disrupting vital oil and goods transit. This raises fears of wider conflict impacting international trade routes and energy markets.

The Times of India

Australian shares pare losses as mining stocks bounce

The ASX has edged lower for a second session as concerns about Australia's economic growth and the ongoing Persian Gulf conflict unnerve investors.

AAP

Oil Price Today (June 2): Crude oil at $95 per barrel amid conflicting Iran war signals. What are experts saying?

Oil prices held steady Tuesday, following Monday's surge, as global markets weighed U.S.-Iran ceasefire talks and the potential reopening of the Strait of Hormuz. Conflicting reports emerged regarding negotiations, with President Trump suggesting talks continue while Iranian media indicated a halt.

The Economic Times

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Oil steadies as uncertainty over US-Iran talks keeps markets on edge

Oil prices held steady Tuesday amid uncertainty surrounding U.S.-Iran ceasefire talks and the potential reopening of the Strait of Hormuz. Brent crude futures edged up, while WTI saw a slight dip. Market analysts emphasize that ongoing negotiations and Iran's threats regarding the Strait will dictate oil price volatility.

The Economic Times

Global Market Today: Asian stocks ease from record highs, oil steadies

Asian markets dipped from record highs as peace talks with Iran faltered. Oil prices remained elevated amid geopolitical tensions. US stock futures also saw a slight decline. Investors are closely watching upcoming economic data for clues on the US economy and Federal Reserve policy. The AI boom continues to drive…

The Economic Times

Interest rates static as inflation deemed brief

While elevated oil prices have caused inflation to rise, economists expect the Bank of Thailand to maintain its policy interest rate for the rest of 2026, assuming the higher costs will be temporary.

Bangkok Post

Cotton Closes Higher on Monday

Cotton futures were up 36 to 62 points in most contracts on Monday. The US dollar index was $0.288 lower at $98.140. Crude Oil as up $5.26 at the close. The weekly NASS Crop Progress report showed 66% of the US cotton crop planted as of 5/31, 1% below normal....

Barchart

Soybeans Fades Lower into Monday’s Close

Soybeans closed the Monday session with contracts down 1 to 6 cents. The cmdtyView national average Cash Bean price was down 3 3/4 cents at $11.21 1/4. Soymeal futures were down 40 cents to $3.30, with Soy Oil futures 137 to 173 points higher. Weekly Crop Progress data indicated 87%...

Barchart

Why is gold price down today, and will precious metals continue to drop or rise again? Gold falls as inflation concerns grow amid Middle East conflict

Why is gold price down today, and will precious metals continue to drop or rise again? Gold prices declined after rising inflation concerns linked to the Middle East conflict increased expectations that interest rates could remain higher for longer. A stronger U.S. dollar also weighed on bullion prices. Investors are…

The Economic Times

Why are oil prices up today and will Brent and US WTI crude futures continue to drop or rise again? Oil prices surge as Iran talks stall and supply concerns return

Why are oil prices up today and will Brent and US WTI crude futures continue to drop or rise again? Oil prices moved higher after Iran suspended negotiations with the United States and concerns returned over crude supplies through the Strait of Hormuz. Brent crude and US WTI futures gained…

The Economic Times

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Motor1

Man Goes To Midas For Oil Change. Then The Tech Recommends Something Awfully Suspicious: ‘I Used To Trust Midas’

"Midas will never get my business again."

International Business Times

Stocks Continue Climbing Buoyed By Tech Despite Oil Gains From Iran War

Stocks began June hitting a new record as tech companies continue to climb.

The Economic Times

Iran targets US air base as fresh attacks strain ceasefire efforts, lift oil prices

Iran struck a US air base following American strikes on its military sites. Kuwait also reported missile and drone attacks. These actions have heightened regional tensions and increased oil prices. Israel expanded military operations against Hezbollah. Pakistan is mediating peace efforts amid ongoing conflict and disrupted energy markets.

International Business Times UK

Iran Vows to Fully Seal the Strait of Hormuz as US Talks Collapse and Oil Surges 7%

Iran has suspended indirect talks with the US and threatened to close the Strait of Hormuz, causing a significant spike in global oil prices.

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AAP

Oil prices rise, but not by enough to keep Wall Street from more records

Oil prices rose following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn't very worried, and U.S. stocks are rising toward more records

Barchart

Oil Prices Soar as Iran Halts US-Iran Ceasefire Negotiations

July WTI crude oil (CLN26 ) on Monday closed up +4.80 (+5.49%), and July RBOB gasoline (RBN26 ) closed up +0.0503 (+1.66%). Crude oil prices on Monday rallied sharply after Iran's Tasnim news agency reported that Iran's government said in a statement that it halted the exchange of messages with...

AAP

BC-OILS

NEW YORK (AP) — Futures trading on the New York Mercantile Exchange Monday:

Barchart

Look Out Below! Grain and Cotton Prices Are on the Ropes Heading into Summer.

Corn, soybean, winter wheat, and cotton prices are slipping. Bulls are betting on a weather-market scare ahead.

The Guardian - US

Trump had no plan B for Iran. It shows

The US president’s war of choice has accomplished nothing and cost the world greatly

AAP

Oil prices rise, but Wall Street still hangs near its records

Oil prices are rising following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn't very worried, and U.S. stocks are hanging around their records

Barchart

Corn Falling on Monday, Ignoring Crude Strength

Corn futures are fading the crude oil rally to start the week, as contracts are down 4 to 5 ½ cents. The CmdtyView national average Cash Corn price is 2 3/4 cents to $4.05 3/4. USDA’s FGIS tallied corn export shipments at 1.728 MMT (68.03 mbu) during the week ending...

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