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The Latest Breaking News from Oil

Drones hit three 'shadow fleet' oil tankers off Turkiye's Black Sea coast

Three oil tankers were attacked by drones off Turkey's Black Sea coast. The ships are part of a 'shadow fleet' exporting Russian oil and evading sanctions. One tanker was previously targeted. The crews were unharmed. Turkish coast guard vessels responded to the incident. No group has claimed responsibility for the…

The Economic Times

The Strait of Hormuz: The supply chain loop that broke the world

It took only five days after the attack on Iran by the United States and Israel in late February for Iran to close the Strait of Hormuz, one of the world’s most vital energy and maritime chokepoints.

The Conversation

Wall Street hangs near its records as profits keep piling up for US companies and oil prices swing

U.S. stocks are hanging near their records as companies like Dollar Tree, Snowflake and Hormel Foods keep piling up profits

AAP

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How and where the world’s 2 billion barrels of strategic oil reserves are stockpiled

Drive on Interstate 10 along the Gulf Coast of the United States, through Louisiana and into Texas, and you’ll see signs of the oil industry everywhere. There are offshore rigs out in the water and refineries lining the shoreline, where tankers deposit crude oil extracted from the Gulf floor.

The Conversation

Donald Trump shares draft Iran peace agreement with Israel and other allies

US president’s move comes as both sides try to prevent fresh ceasefire breaches scuppering a potential deal

The Guardian - UK

Drones hit 3 'shadow fleet' oil tankers off Turkey's Black Sea coast

Three oil tankers were attacked by drones Thursday off Turkey's Black Sea coast, according to a shipping agency

AAP

Stocks Pressured as Oil Prices Climb on US-Iran Clashes

The S&P 500 Index ($SPX ) (SPY ) today is down -0.14%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.27%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.34%. June E-mini S&P futures (ESM26 ) are down -0.17%, and June E-mini Nasdaq futures...

Barchart

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Oil prices climb, but US stocks hold near their records

Oil prices are clawing back some of their sharp drops from earlier in the week, but U.S. stocks are remaining near their records

AAP

Merchant ships desert Strait of Hormuz amid renewed US strikes

Commercial shipping traffic through the Strait of Hormuz nearly came to a halt on Thursday as fears of renewed military escalation between the US and Iran intensified. Ship-tracking data showed no commercial vessels crossing the key oil chokepoint Thursday morning after only six two-way crossings on Wednesday.

The Economic Times

South Africa’s fuel supply and the Iran war: data black holes and low strategic stock put the country at risk

The supply of crude oil to the world had been reduced by about 7.5% to 10.1% by March 2026 in what the World Bank described as the largest oil market disruption in history. The fall was a result of the attacks on Iran by Israel and the US and the…

The Conversation

US stocks hold near their records even as crude oil prices rise again

U.S. stocks are holding near their records as companies like Dollar Tree, Snowflake and Hormel Foods keep piling up profits

AAP

US stocks today: US stocks hold near records even as crude oil prices rise again

U.S. stocks hover near record highs despite economic pressures from the conflict with Iran. While oil prices rebound, strong corporate profits from companies like Dollar Tree and Snowflake are bolstering the market. Investors remain cautious amid conflicting reports on a potential U.S.-Iran deal.

The Economic Times

Current price of oil as of May 28, 2026

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

Fortune

Blair’s fossil fuel ideas ‘bizarre’ in face of energy and climate crises, experts say

Energy specialists say abandoning net zero and increasing oil and gas drilling would cause more instability for Britons

The Guardian - UK

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The Economic Times

Gold falls below Rs 1.54 lakh/10 grams, silver drops by Rs 4,600/kg as fresh US-Iran strikes raise worries

Gold and silver prices on MCX plunged as US-Iran strikes boosted the dollar and oil, triggering inflation fears. Both metals hit multi-month lows as heightened geopolitical uncertainty and expectations of higher interest rates drove investors toward the dollar.

Barchart

Cotton Extending Correction on Thursday Morning

Cotton price action is down 10 to 48 points so far on Thursday morning. Futures posted losses of 33 to 121 points across most contracts on Wednesday. The US dollar index was $0.054 higher at $99.155. Crude oil was down $4.48 on the day to $89.41 to add pressure, but...

Barchart

Corn Bouncing on Thursday AM Trade

Corn prices are up 4 to 5 cents so far on Thursday morning. Futures posted Wednesday losses of 3 to 5 cents across most contracts. Open interest was down 7,221 contracts, mostly in the July (-14,986), as OI was rising in most other contracts. Crude oil losses of $4.48 on...

Barchart

Wheat Posting Mixed Trade on Thursday Morning

Wheat is showing mixed action on Thursday AM trade, with CBT the strongest. The wheat complex saw weakness on Wednesday. Crude oil losses of $4.48 on Wednesday continued to be a pressure factor, but are bouncing $2.74 this morning. Chicago SRW futures were 10 to 13 cents lower at the...

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The Guardian - UK

The race for oil: will Jamaica be the next country to drill and what does that mean for its green pledges?

With early tests suggesting the presence of crude oil, the Caribbean island has begun to debate whether it could justify becoming a producer

The Independent UK

11 best men’s moisturisers for maximum hydration

From regulating oil to combatting dryness, a moisturiser could be the skincare essential you’re missing

Barchart

Stocks Slip Before the Open as U.S.-Iran Flare-Up Lifts Oil and Bond Yields, PCE Inflation Data in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.26%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.54% this morning, pointing to a lower open on Wall Street as oil prices and bond yields rose after fresh attacks in the Middle East cast doubt on whether an end to…

Motor1

Man Sees Mobil 1 Oil At AutoZone Is $44. Then He Sees It’s $26 At Walmart. Then He Revisits AutoZone: 'O'Reilly Will Price Match’

'Pricing is about to be through the roof.'

France 24

Oil prices on the rise again as US-Iran fighting escalates

Benchmark prices for crude oil rose on Thursday as Iran said it targeted a US airbase in response to American air strikes. Commercial traffic through the Strait of Hormuz, which had slightly ticked up in previous days, dwindled down to almost nothing again. Also in this edition: Australia takes legal…

The Economic Times

RBI's dividend gives Govt fiscal breathing space amid crude oil pressures: Kotak Securities Anindya Banerjee

The Reserve Bank of India's (RBI) record dividend payout of Rs 2.87 lakh crore is expected to directly repair the government's balance sheet at a time when rising global energy prices and prolonged geopolitical tensions are putting pressure on India's fiscal position, according to Anindya Banerjee, Head of Commodities and…

The Guardian - UK

BP boardroom turmoil deepens as ousted chair hits back at ‘lies’ over conduct

Albert Manifold disputes reports about his behaviour and says he always tried to set example

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