The Latest Breaking News from Oil

Wednesday briefing: How Trump’s Iran gamble has produced a crisis reshaping the global order

In today’s newsletter: ​A White House operating without expertise, strategy or restraint ​is stuck in a conflict with no easy way out, which is sending economic shockwaves far beyond its own borders

The Guardian - UK · Jul 22

Japan's exports and imports grow as yen weakens

Japan recorded a trade deficit in June, totaling 406.9 billion yen. Higher oil import prices and a weak yen contributed to this deficit. Exports rose nineteen percent, driven by semiconductor shipments to various nations. Imports also gained twenty-five percent, with oil imports from the U.S. surging significantly. This marks the…

The Economic Times · Jul 22

Vedanta Oil & Gas shares fall over 3% after firm discloses two legal matters involving ONGC, GoI

Vedanta Oil & Gas share slipped on Wednesday after the company disclosed two legal matters involving the Directorate General of Hydrocarbons and ONGC. While DGH has sought about $35 million plus interest over OALP blocks, ONGC is pursuing enforcement of a $37 million arbitral award before the Delhi High Court.

The Economic Times · Jul 22

Oil Price Today (July 22): Crude oil crosses $90, hits 2-month high as US strikes enter 11th day. $120 possible, say experts

Brent crude prices crossed the mark of $92 a barrel, rising to the levels last seen in early-June. West Texas Intermediate (WTI), the US crude, is now trading near the mark of $85 a barrel, climbing for the fourth straight session.

The Economic Times · Jul 22

Rupee rebound bets vanish as soaring crude blunts inflows

What makes the Indian currency more vulnerable than some of its Asian peers is the country’s reliance on imported energy and its ripple effect on the broader economy.

The Economic Times · Jul 22

Gold nears two-week high as Fed outlook, Middle East conflict stay in focus

Gold prices climbed to a two-week high amid technical buying and Middle East tensions. Investors await the Federal Reserve meeting for interest rate outlook clues. Oil prices rose over one percent due to shipping disruptions in the Red Sea. Iran's interior minister visited Pakistan seeking continued mediation efforts. Other precious…

The Economic Times · Jul 22

Yen slides past 163, raising intervention alert

The yen is near a four-decade low as the dollar strengthens broadly. Rising oil prices and U.S. Treasury yields are supporting the dollar's safe-haven status. Traders watch for possible Japanese intervention amid the yen's steady decline. The euro and Australian dollar are holding their ground against the dollar. Sterling is…

The Economic Times · Jul 22

Oil prices rise slightly after US announces new round of strikes on Iran

Oil prices saw a slight increase as fears of supply disruptions grew. U.S. forces continued striking Iranian military targets for the eleventh night. Kuwait reported intercepting Iranian drones, intensifying concerns over energy supplies. These exchanges have raised fears of further disruptions to global energy markets. The ongoing conflict has already…

The Economic Times · Jul 22

Global Market Today: Asian stocks advance on tech rally, yen weakens

Asian stocks climbed for a second day, led by chipmakers. The Kospi Index saw a significant jump, reflecting AI investment optimism. Crude oil prices advanced, reigniting inflation concerns and pushing Treasury yields higher. Gold and silver also advanced on dip-buying, while the yen slid past 163 per dollar. Investors now…

The Economic Times · Jul 22

Fresh US-Iran strikes overshadow Pakistan's bid to revive collapsed ceasefire

Tensions between the United States and Iran intensified over the Strait of Hormuz. Pakistan's diplomatic efforts to revive a ceasefire deal faced significant challenges. U.S. President Donald Trump expressed no interest in immediate talks with Iran. Iran-backed rebels opened a new front in the Red Sea, impacting oil supplies. Both…

The Economic Times · Jul 22