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The Latest Breaking News from Oil

Occidental Petroleum Stock’s Unusual Options Activity Signals Bullish Bets Amid Oil Rally

OXY options volume surged by 5.4x the average yesterday, with a 0.07 put/call ratio signaling heavy bullishness. Six unusually active July 17 contracts suggest several options strategies are available to make money.

Barchart

Cotton Easing Lower on Thursday

Cotton futures are trading with midday losses of 14 to 73 points across most contracts at midday Crude oil is correcting back lower on Thursday despite back and forth strikes between the US and Iran overnight, down $1.49 at midday. The US dollar index is down $0.094. Export Sales data...

Barchart

Soybeans Facing More Thursday Pressure

Soybeans are falling back 8 ½ to 15 ¼ cents across most contracts. The cmdtyView national average Cash Bean price is down 14 1/2 cents at $11.31 3/4. Soymeal futures are $3.40 to $4.60 higher across most contracts, with Soy Oil futures 43 to 55 points lower. There were no...

Barchart

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Bulletin world briefing: Ukraine hits 12 oil tankers in Sea of Azov as Russian fuel shortages intensify

Here are five stories from across the globe you may have missed

The Independent UK

Oil Price Alert: Crude Spikes Past £60 as Trump's War Rhetoric Threatens Strait of Hormuz Blockade

Global markets experienced volatility after President Trump cast doubt on the Iran ceasefire, causing oil prices to surge and stock indices to drop, impacting the energy and housing sectors.

International Business Times UK

Ukraine says Patriot missile production will take months as war with Russia rages

Ukrainian officials say that establishing Patriot air defense systems to protect its cities will take many months, with an adviser to the defense minister suggesting a year or more for interceptor missiles, primarily due to lengthy production cycles for subcontracted components. President Donald Trump announced Wednesday at a meeting with…

The Independent UK

Crude Oil Prices Erase Early Gains in Hopes of Limited US-Iran Hostilities

August WTI crude oil (CLQ26 ) today is down -1.32 (-1.80%), and August RBOB gasoline (RBQ26 ) is down -0.0332 (-1.07%). Crude oil and gasoline prices gave up an early advance today and turned lower on speculation the escalation of hostilities between the US and Iran will be limited. Crude...

Barchart

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Strength in Chipmakers Boosts Stock Indexes

The S&P 500 Index ($SPX ) (SPY ) today is up +0.48%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.26%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.27%. September E-mini S&P futures (ESU26 ) are up +0.49%, and September E-mini Nasdaq futures...

Barchart

Russia's Saratov oil refinery at a halt since Wednesday's drone attack: Sources report to Reuters

Russia's Saratov oil refinery stopped processing oil Wednesday after a drone attack. This incident follows similar Ukrainian strikes on Russian energy infrastructure. The Omsk oil refinery, Russia's largest, also halted operations earlier this week. These attacks have caused fuel shortages and price increases within Russia. The Saratov refinery suspended operations…

The Economic Times

Iran says it hits US military targets in Gulf, lays slain leader to rest

Iranian forces attacked U.S. military infrastructure in Gulf states on Thursday. These strikes followed U.S. attacks on Iran's southern and eastern provinces. The events put further strain on a three-week-old ceasefire agreement. Iran's Revolutionary Guards warned of a crushing response to further U.S. intervention. Oil prices fell as investors weighed…

The Economic Times

Is Hormuz reopening or shutting down? Shipping data and IRGC claims don’t match

Oil tanker traffic through the Strait of Hormuz slowed significantly on Thursday. Renewed US airstrikes and Iranian retaliatory attacks heightened security concerns in the Gulf. Iran's IRGC Navy claimed the strategic waterway was secured and gradually reopening. Several vessels turned off tracking systems, limiting visibility of actual ship movements. Shipping…

The Times of India

CIC upholds Indian Oil's refusal to disclose records of fuel quality inspection, fraud records

The applicant said consumers are "overburdened with the fuel prices" and the information should be centrally maintained in today's digital era. The Central Information Commission accepted the oil major's contention that compiling the data, scattered across its 16 state offices and 73 divisional offices, would disproportionately divert its resources under…

The Economic Times

42 Everyday Items People Secretly Use For Completely Different Things

The chainsaw may be one of the most useful tools for cutting wood, but that wasn’t its original purpose. It first appeared in the late 18th century as a medical device meant to assist during difficult childbirths. And it’s far from the only product whose purpose changed over time. One…

Bored Panda

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

The Economic Times

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Benzinga

Goldman Sachs Ditches Oil Glut View— Warns Gulf Hostilities Could Choke Crude Flows

A week after warning of an impending global oil glut, Goldman Sachs reversed its outlook, saying renewed hostilities in the Persian Gulf now pose a risk of prolonged oil supply disruptions.

International Business Times

Trump Has Accused Oil Companies Of Gauging Prices. The White House Just Announced New Stations Selling Gas Below Market Prices

The White House has announced a new gas station has opened and is selling gasoline below market prices.

Benzinga

Oil Surges Again as US-Iran War Escalates: Top Economist Justin Wolfers Explains the ‘Hidden Pattern’ Driving Gas Prices

Fresh military strikes in the Middle East have shattered a fragile ceasefire, sending crude oil prices surging and guaranteeing an immediate spike in fuel costs. This rapid increase, contrasted with sluggish price drops during periods of relief, is driven by a “hidden pattern” that economists have long tracked.

The Guardian - UK

Licensed to drill? How a Trump-linked Texas oil company is elbowing its way into Greenland

Greenland Energy says billions of barrels of crude could lie beneath territory and claims it has permission to bring drilling kit ashore – a claim denied by Nuuk

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The Economic Times

Oil tanker traffic through Hormuz at near standstill as attacks strain Iran truce

Oil tanker traffic through the Strait of Hormuz has nearly stopped. U.S. airstrikes on Iran triggered retaliation, escalating shipping risks significantly. Vessels are switching off tracking transponders, making navigation more difficult. One LNG tanker remains stranded after a projectile strike near Oman. Insurance firms are reviewing policy terms following recent…

Barchart

Cotton Falling Lower on Thursday

Cotton prices are down 95 to 137 points so far. Futures saw modest weakness on a Wednesday correction, with contracts 6 to 73 points lower. The outside markets were generally stronger, as Crude oil was up $4.32 following the US striking Iran overnight and again today, as President Trump stated...

Barchart

Soybean

Soybeans are down 2 to 3 cents early on Thursday Futures faded off the early gains on Wednesday, as buyers of the Chinese rumor were selling the fact. Contracts were down fractionally to 5 ½ cents at the close. Open interest was up 1,047 contracts on the day. The cmdtyView...

The Times of India

Russian oil tankers burn as Ukrainian drones unleash another wave of attacks: Watch

Ukraine's military said on Thursday that it struck 12 Russian tankers in the Sea of Azov overnight. It also added that the attack was part of its efforts to disrupt Russia's military supply routes and cut off support to Russian-occupied Crimea.

The Economic Times

Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze

Ukrainian drones struck Russian oil facilities, igniting fires and causing fuel shortages across regions. Two oil tankers in the Sea of Azov were also set ablaze by these drone attacks. These strikes are part of Ukraine's strategy to disrupt Russian fuel supplies to occupied Crimea. Meanwhile, the United States pledged…

International Business Times

The U.S. And Iran Again Exchanged Clashes. Oil Continues To Rise As a Result

Oil keeps rising as tensions between the U.S. and Iran continue to escalate.

Fortune

Current price of oil as of July 9, 2026

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

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