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The Latest Breaking News from Oil

The Houthis Said They Struck a Saudi Tanker In The Red Sea Despite U.S.-Iran Talks. Brent Crude Is Up

Yemen's Houthi rebels said they again struck a Saudi tanker in the Red Sea as they continue to enforce what they have described an embargo on the country's oil in the region.

International Business Times · Aug 5

ONGC eyes operatorship of two Venezuela oil blocks

ONGC plans to operate two Venezuelan oil blocks soon under new laws. The company regained its stake in Russia's Sakhalin-1 project last December. This restored stake increased the group's quarterly revenue contribution significantly. Venezuela offers additional incentives for operating fields with similar geology. ONGC expects positive developments and new agreements…

The Economic Times · Aug 5

US and Iran having 'very good discussions', Trump says

US President Donald Trump reported very good discussions with Iran on Tuesday. Hopes for reopening the Strait of Hormuz boosted Asian markets and oil prices. An interim agreement to reopen the waterway with Oman's agreement is reportedly nearing. Iran stated talks with Oman on safe shipping lanes were positive and…

The Economic Times · Aug 5

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Cotton Rallying on Wednesday Morning

Cotton prices are rallying on Tuesday morning, with contracts up 105 to 110 points in the nearbys. Futures were down 8 to 22 points in the front months with other contracts, up 2 to 40 points. Crude oil was down $5.20 per barrel, with the US dollar index down $0.031....

Barchart · Aug 5

How trains can transform Persian Gulf politics and global security

The crisis in the Strait of Hormuz, wider tensions in the Red Sea and the oil price spikes these circumstances occassion have made one thing abundantly clear: Gulf countries and global markets are dependent on vulnerable maritime routes.

The Conversation · Aug 5

India bonds rally on 'dovish' RBI hold, lower oil prices

Indian government bonds surged on Wednesday, with yields falling below important levels. The Reserve Bank of India decided to keep the repo rate steady, in line with anticipated market outcomes. A drop in oil prices helped ease inflation fears, supporting the economy. This favorable policy not only uplifted bond markets…

The Economic Times · Aug 5

Nigeria approves $4.5bn refinancing of state-owned oil company

Nigeria has approved a new $4.5 billion loan to replace a 2023 loan of $3.3 billion.

Radio France Internationale · Aug 5

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23 Hyperrealist Paintings By Ian Cumberland Packed With Surreal Details And Hidden Meaning

Ian Cumberland’s paintings may look almost photographic at first, but the longer you stare, the stranger they become. Blending hyperrealist technique with surreal imagery, retro interiors, television screens, artificial lighting, and carefully staged figures, the Northern Irish artist creates scenes that feel both nostalgic and distinctly uneasy. Behind their meticulous…

Bored Panda · Aug 5

BP Is Selling Another Green Energy Business. Strong Oil Prices Help Drive Best Profit Since 2022

In its earnings statement, CEO Meg O'Neill said BP is taking a fresh look at the business to improve performance, reduce complexity and strengthen areas that generate stronger financial returns,

International Business Times · Aug 5

How to turn unwanted anchovy tin oil into salsa verde – recipe

This powerhouse ingredient injects umami and depth of flavour into a simple green sauce. Come on, chop-chop!

The Guardian - UK · Aug 5

SNP 'more extreme' on oil and gas than Donald Trump, say campaigners

THE SNP have a “more extreme” position on oil than Donald Trump, according to an environmental pressure group.

The National (Scotland) · Aug 5

Trump says deal to reopen Strait of Hormuz could come as early as Wednesday

President Trump indicated a deal to reopen the Strait of Hormuz could happen soon. Hopes for a deal eased oil prices as shipping hopes increased. Attacks on shipping in the Red Sea and Strait of Hormuz continued. Iran and Oman are reportedly discussing routes for safe shipping lanes. Progress has…

The Economic Times · Aug 5

Zack Polanski in oil and gas challenge to Andy Burnham amid drought and wildfires

ZACK Polanski has challenged Andy Burnham to stick to Labour’s manifesto promise to ban new oil and gas projects as he spoke alongside a former…

The National (Scotland) · Aug 5

Rupee hits one-month closing high as oil slide outweighs RBI pause

On Wednesday, the Indian rupee climbed to its highest point in a month, bolstered by a dip in crude oil prices that fueled early gains. Although the Reserve Bank of India's decision to maintain rates restricted further growth, analysts pointed out that immediate support lies around 94.75 with resistance levels…

The Economic Times · Aug 5

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The Economic Times · Aug 5

Bitcoin stabilizes above $64K as macro sentiment improves; Ethereum recovery remains weaker

Bitcoin stabilised above $64,000 as easing geopolitical tensions, lower oil prices, softer US Treasury yields and a weaker dollar improved risk appetite. Ethereum lagged the recovery, while analysts said weak institutional flows and cautious positioning continue to limit crypto gains.

Fortune · Aug 5

Current price of oil as of Aug. 5, 2026

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

The Economic Times · Aug 5

India may charge gas users to fund planned $42 billion fuel reserves, sources say

India is considering levies on cooking gas and natural gas consumers to fund a proposed $42 billion multi-fuel strategic reserve programme aimed at strengthening energy security after supply disruptions during the Iran conflict. The plan would expand strategic reserves beyond crude oil to include LNG and LPG storage for the…

The Times of India · Aug 5

After decades of toxic pollution, a school of rays spotted in one of New York City's dirtiest waterways, raising hopes the cleanup is paying off

A school of cownose rays was recently spotted swimming in New York City's Newtown Creek. This waterway has long been associated with significant industrial pollution and a major oil spill. Conservationists view this sighting as a hopeful sign of environmental restoration efforts. While scientists caution against definitive conclusions, other wildlife…

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The Guardian - AU · Aug 5

Omar Musa wins Miles Franklin literary award for ‘tour de force’ novel Fierceland

The novelist, poet and rapper won $60,000 for his novel about two siblings who reckon with the legacy of their late father, a palm oil baron in Malaysian Borneo

Benzinga · Aug 5

Stock Market: Will S&P 500 Open Up or Down Today?

The S&P 500 surged to a fresh record close on Tuesday as strong corporate earnings, easing oil prices and optimism over a potential breakthrough between the U.S. and Iran fueled another broad-based rally. Polymarket traders are now overwhelmingly betting the benchmark will extend those gains at Wednesday’s open.

The Economic Times · Aug 5

White House set to extend Jones Act waiver as Trump hunts for cheaper gasoline

The White House plans to extend a Jones Act waiver to reduce gasoline prices. This waiver increases shipping flexibility and eases transport bottlenecks for fuel. President Trump is increasing pressure on oil companies to lower prices for consumers. Critics argue the waiver benefits foreign operators and undermines domestic maritime interests.…

Tom’s Guide · Aug 5

The 48-hour water trick that brought my heat-stressed lavender’s smell back

Is your lavender fading in the heat? High temps drain essential oils fast. Here's the fix to restore your plant's aroma in 48 hours.

The Guardian - UK · Aug 5

Cost of filling up a tank of diesel reaches £100, as oil prices rise back above $80 a barrel again – as it happened

UK economy strengthens as service sector returns to growth and car sales jump

The Economic Times · Aug 5

India bonds jump as oil crashes, dovish RBI may further boost rally

Indian government bonds saw a notable rise on Wednesday morning, propelled by falling oil prices that created a favorable outlook for inflation prior to the upcoming RBI policy announcement. The Reserve Bank of India is anticipated to hold steady on key interest rates. Inflation projections will significantly inform the central…

The Economic Times · Aug 5

Gold prices rise Rs 3,000/ 10 grams, silver jumps Rs 8,400/kg in 2 days on Iran peace deal hopes. What should you do?

Gold and silver prices extended gains for a second straight session as easing oil prices and hopes of a U.S.-Iran peace deal lifted sentiment. Gold has risen Rs 3,000 per 10 grams and silver Rs 8,400 per kg in two days. Here's what experts recommend for traders.

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