The Latest Breaking News from Oil

How Iran is widening its pressure campaign to force US concessions

Iran is pursuing a strategy of calibrated escalation to raise the economic and strategic costs for the US and its allies by threatening the Strait of Hormuz, key shipping lanes and energy infrastructure. Analysts say Tehran aims to strengthen its negotiating position, expand regional influence and force concessions without triggering…

The Economic Times · Aug 3

My olive oil is uncool, apparently. Welcome to the world of microsnobbery

Social media has supposedly ramped up our impulse to judge each other on the most trivial grounds – but is this really a new thing, asks Emma Beddington

The Guardian - UK · Aug 3

Major oil companies reap profits as US-Iran fighting drives energy prices higher

Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

Euronews · Aug 3

Nifty Q1 earnings grow 11% to beat estimate, says Motilal Oswal; picks Bharti Airtel, SBI, ICICI Bank among top bets

Nifty companies have posted a stronger-than-expected start to Q1 earnings, with profits of 39 reporting constituents rising 11% YoY, beating Motilal Oswal’s 7% estimate. Reliance Industries, JSW Steel, ICICI Bank, Bajaj Finance and Axis Bank drove 59% of incremental earnings growth, while InterGlobe Aviation, ITC, Dr Reddy’s, Cipla and Maruti…

The Economic Times · Aug 3

Iran war ushers in oil refining golden era. It won't last

War-driven supply disruptions have turned oil refining into Big Oil's biggest profit engine, but Reuters columnist Ron Bousso says the windfall may prove temporary as capacity returns and energy transition pressures re-emerge.

The Economic Times · Aug 3

Can the EU combat wildfires? Ask the Euronews AI chatbot

As wildfires rage across Europe, the EU has launched its largest-ever cross-border firefighting response. Do you want to know how the EU's firefighting response system works? Ask the Euronews AI chatbot.

Euronews · Aug 3

Oil prices lower on Middle East hopes and as OPEC+ boosts production

Oil prices were lower on Monday morning after OPEC+ boosted production for September and US President Donald Trump called off a planned strike on Iran, putting downward pressure on prices.

Euronews · Aug 3

Rupee climbs to one-month peak of 95.13 vs USD on oil slump, stronger inflows

The Indian rupee reached a one-month high as oil prices declined and foreign inflows increased. The Reserve Bank of India is expected to maintain current interest rates this week. Analysts anticipate a cautious policy statement from the central bank regarding inflation. Oil prices fell significantly after the US President sought…

The Economic Times · Aug 3

This Scottish startup saves wild fish by replacing them with Omega-3 algae fed on whisky waste

Are farmed fish a sustainable choice? Many still depend on wild-caught fish for feed – algae grown on Scottish whisky industry waste could change that.

Euronews · Aug 3

Hunter Biden Says Trump Is Making 'Big Oil' Great Again as Chevron, Exxon Mobil Profits Soar—Gavin Newsom Says CVX Is 'Fleecing Californians'

Former President Joe Biden‘s son Hunter Biden and Gov. Gavin Newsom (D-CA) slammed Chevron Corp. (NYSE:CVX) and ExxonMobil Holdings Corp. (NYSE:XOM), accusing the oil giants of profiting from the war in Iran.

Benzinga · Aug 3