The Latest Breaking News from Oil

Rupee ends nearly flat as central bank intervention blunts oil strain

On Thursday, the Indian rupee hovered close to a two-month low, influenced by potential intervention from the central bank to counteract rising oil prices. Brent crude oil approached the $100 per barrel mark following recent Houthi attacks, raising fears about India's economic stability. In light of these developments, investors have…

The Economic Times · Jul 23

Current price of oil as of July 23, 2026

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

Fortune · Jul 23

India loses Russia oil discount as Red Sea, Hormuz risks upend crude markets

Russia's crude oil discounts for India have disappeared as Middle East supply disruptions and Red Sea shipping risks boost demand for alternative cargoes. Rising crude oil prices and higher import costs could squeeze margins for Indian refiners, including BPCL, as geopolitical tensions reshape global oil trade and energy markets.

The Economic Times · Jul 23

Global Market: European shares slip as tech stocks drag; ECB policy decision in focus

European shares slipped as weak semiconductor earnings and renewed concerns over AI spending weighed on technology stocks. Energy shares gained as Middle East tensions lifted oil prices, while investors awaited the ECB’s policy decision.

The Economic Times · Jul 23

The European country whose state oil company has been one of the biggest winners of Iran war

Equinor has nearly doubled its quarterly profits as the US-Israeli war against Iran has choked off supplies from the Gulf

The Independent UK · Jul 23

Ousted Ukrainian defence minister refuses any other role in Zelenskyy’s government – as it happened

Mykhailo Fedorov says only in his former post could he ‘combat procurement corruption and complete the army’s transformation’

The Guardian - UK · Jul 23

War in Ukraine: EU agrees 21st round of sanctions on Russia

EU ​ambassadors on Thursday ​reached a political agreement on a new round of sanctions against Russia over the Ukraine war, ‌according to EU diplomats. The ​21st ‌sanctions package includes ⁠a 12-month freeze on the Russian oil price cap.

France 24 · Jul 23

Mideast oil producers step up plans to bypass the Strait of Hormuz

Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz

The Independent UK · Jul 23

Domino effect: Gandhar Oil’s 20% upper circuit spurs rally in Savita Oil and Panama Petro. Here’s why

Gandhar Oil Refinery hit the 20% upper circuit after reporting a 689% year-on-year jump in Q1 net profit, triggering a rally in peers Savita Oil and Panama Petrochem. Strong demand across PHPO, PIO and lubricants, along with expanding exports and higher-margin products, boosted investor sentiment.

The Economic Times · Jul 23

Woodside's lawsuit against three protesters thrown out

A judge has dismissed a civil case initiated by an oil and gas giant against three environmentalists over a stink bomb.

AAP · Jul 23