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The Latest Breaking News from Oil

Breaking Live 3 publishers covering this story in the last 6 hours

America's Oil Safety Net Is Running Out, Giving China More Influence Over U.S. Gas Prices

As the U.S. Strategic Petroleum Reserve and global oil reserves dwindle, China's sway over energy markets and gas prices grows.

International Business Times · Jul 21

Sugar Prices Settle Higher on Crude Oil Strength

October NY world sugar #11 (SBV26 ) on Tuesday closed up +0.06 (+0.40%), and October London ICE white sugar #5 (SWV26 ) closed up +2.10 (+0.45%). Sugar prices settled higher on Tuesday, supported by crude oil's strength. WTI crude oil (CLQ26 ) rose more than +2% on Tuesday to a...

Barchart · Jul 21

Home-building costs rise, but not as much as feared

The cost of building a home in Australia increased by one per cent in the June quarter, as higher oil prices and supply chain disruptions hurt builders.

AAP · Jul 21

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Houthis threaten to attack shipping tankers if they use Saudi Arabian ports on Red Sea

Warning to shipping companies, on top of Iran’s chokehold on strait of Hormuz, may severely affect Saudi oil exports

The Guardian - UK · Jul 21

Asia's energy test may hinge on regional cooperation

The past four months have demonstrated just how volatile oil markets can be. In March, Brent crude climbed above US$100 (3,363 baht) a barrel for the first time in four years, reaching $119 on March 9 -- its highest level since the 2022 energy crisis -- as Iran's closure of…

Bangkok Post · Jul 21

Cotton Rallying on Tuesday

Cotton futures are trading with contracts 140 to 147 points higher. Futures were up 9 to 37 points across most contracts on Monday. Crude oil is up another $1.78 per barrel, with the US dollar index up 0.159. Monday afternoon’s Crop Progress showed 73% of the US cotton crop squared...

Barchart · Jul 21

Soybeans Slipping Back on Turnaround Tuesday

Soybeans are posting Turnaround Tuesday losses of 4 to 8 cents so far at midday. The cmdtyView national average Cash Bean price is down 7 1/24 cents at $11.82 3/4. Soymeal futures are $2.30 to 3.50 higher, with Soy Oil futures down 70 to 83 points. Crop Progress data from...

Barchart · Jul 21

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Rising Crude Oil Prices Support Sugar

October NY world sugar #11 (SBV26 ) today is up +0.15 (+1.01%), and October London ICE white sugar #5 (SWV26 ) is up +3.70 (+0.79%). Sugar prices are climbing today, supported by crude oil's strength. WTI crude oil (CLQ26 ) is up more than +2% today at a 5-week high,...

Barchart · Jul 21

After Hormuz, Gate of Tears may make the world cry. What about India?

The Bab el-Mandeb Strait, a key shipping route connecting Red Sea and Gulf of Aden, faces growing risks of disruption after Yemen’s Houthi movement warned of a maritime blockade targeting Saudi shipping. With US-Iran tensions escalating, the possibility of a closure of the waterway has emerged as a major global…

The Economic Times · Jul 21

Ahead of Market: 10 things that will decide stock market action on Wednesday

Indian markets extended losses as large-cap weakness outweighed gains in broader indices despite easing oil prices. Analysts expect earnings, geopolitical developments and crude prices to guide sentiment, with Nifty seen consolidating between 23,800 and 24,350 while midcaps continue to outperform.

The Economic Times · Jul 21

Crude Oil Prices Rally on Global Supply Risks

August WTI crude oil (CLQ26 ) today is up +1.75 (+2.10%), and August RBOB gasoline (RBQ26 ) is up +0.0017 (+0.05%). Crude oil and gasoline prices are pushing higher today, with crude climbing to a 5-week high. The threat to global oil supplies is boosting crude oil prices today as...

Barchart · Jul 21

Indian refiners come to the rescue of Russia’s oil exporters

India has emerged as a key buyer of Russian crude, with imports from Moscow reaching record levels as refiners take advantage of cheaper oil and supply disruptions from the Middle East. More than 2.3 million barrels per day of Russian crude was delivered to Indian ports in June, with July…

The Economic Times · Jul 21

Inflation set to have cooled in June ahead of household energy squeeze

Most economists think a sharp drop in petrol and diesel prices will have helped pull the CPI inflation rate down to 2.7% in June, from 2.8% in May.

Evening Standard · Jul 21

Market Trading Guide: JK Cement among 2 stock recommendations for Wednesday

Markets traded in a volatile range amid Middle East tensions, elevated crude prices and weak financial stocks. Analysts expect earnings, oil prices, FII flows and geopolitics to drive sentiment, while recommending JK Cement and Chennai Petroleum after strong technical breakouts with bullish momentum.

The Economic Times · Jul 21

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The Economic Times · Jul 21

Saudi oil tankers bound for India, China reroute after Houthi warning

Two oil tankers carrying Saudi crude for India and China changed course. Houthi militia warned shipping companies against loading or unloading cargo at Saudi ports. This rerouting points to potential disruptions in a key global energy shipping corridor. Vessels are now heading towards the Suez Canal instead of the Bab…

The Guardian - AU · Jul 21

RBA now twice as likely to hike interest rates as US-Iran war drives fuel prices higher

Experts warn global energy market at a ‘critical juncture’ with escalating Middle East crisis expected to further drag on a slowing Australian economy

Barchart · Jul 21

Dollar Supported by Higher Crude Prices

The dollar index (DXY00 ) is up by +0.06% today. The dollar is slightly higher today as the escalation of hostilities between the US and Iran is boosting crude oil prices, which raises inflation expectations that could prompt the Fed to tighten monetary policy, a supportive factor for the dollar....

Barchart · Jul 21

Grain Bulls Are Showing Resilience: What’s Keeping Uptrends in Corn, Soybean, and Wheat Prices Alive

August weather will be key for soybeans.

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International Business Times · Jul 21

The Strait Of Hormuz Is Caught In The Crossfire Again. Traffic Has Plummeted By Two Thirds

Tankers are increasingly avoiding the Strait of Hormuz since hostilities between the U.S. and Iran resumed, according to new data.

The Economic Times · Jul 21

US bombs Iranian ports and cities; Tehran retaliates with attacks on US sites in Bahrain, Kuwait and Jordan

US and Iranian forces exchanged strikes for the tenth consecutive night. Iran-aligned Houthis threatened a naval blockade against Saudi Arabia, impacting global energy supplies. Iran targeted US sites in Bahrain, Kuwait, and Jordan, while a tanker was struck. Diplomatic efforts are underway to de-escalate the conflict and restore a ceasefire.…

The Economic Times · Jul 21

Shorter-dated US Treasury yields ease in line with lower oil price

Treasury yields decreased as optimism about diplomacy led to a decline in oil prices, reducing inflation expectations that dropped below the Federal Reserve's target. Market indicators show that inflation expectations are steady and well anchored. Investors sense diminished pressure on the Federal Reserve to increase rates, with money markets anticipating…

The Economic Times · Jul 21

India bonds fall as Middle East escalation drives oil above $90

On Tuesday, Indian government bonds experienced a downturn, attributed to escalating crude oil prices. The pressure was further compounded by higher cut-off yields observed during a state debt auction. Although robust inflows from the Reserve Bank of India's deposit scheme offered some stability, the potential for rising inflation and an…

Barchart · Jul 21

Cotton Posting Tuesday Morning Strength

Cotton price action early on Tuesday is 60 to 95 points higher on Tuesday morning. Futures were up 9 to 37 points across most contracts on Monday. Crude oil was up another 65 cents per barrel, with the US dollar index up 0.209. Monday afternoon’s Crop Progress showed 73% of...

The Economic Times · Jul 21

Crude oil prices rise 2% on fresh attacks by US and Iran

On Tuesday, oil prices surged nearly two percent amid escalating tensions between the United States and Iran. The situation was further complicated by threats from Yemen’s Houthis regarding a potential naval blockade targeting Saudi Arabia. Additionally, reports emerged of an unknown projectile hitting a tanker in the sensitive Strait of…

Euronews · Jul 21

Four drone strikes in four days hit tankers carrying Kazakhstan's oil

Drone attacks on vessels in the Black Sea tasked with transporting Kazakhstan's oil persisted for multiple days, with Astana condemning the strikes. The CPC route carries around 80% of Kazakhstan's oil exports and more than 1% of global supply.

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