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The Latest Breaking News from Oil

Silver cracks Rs 6,300/kg; gold dips Rs 1,600/10 gm as traders fear Fed rate hike this year. Should you sell?

Gold and silver prices fell sharply on MCX after the US Federal Reserve signalled a possible interest rate hike later this year while keeping rates unchanged. Higher rate expectations pressured precious metals despite easing oil prices. Analysts advised booking profits in existing long positions and waiting for fresh entry levels.

The Economic Times

Voters hit the polls in three Westminster by-elections

VOTERS in constituencies across the UK go to the polls today to decide the outcomes of three Westminster by-elections.

The National (Scotland)

Ukrainian drones strike Moscow’s oil refinery again; flames, thick plumes of smoke seen

Moscow's oil refinery in Kapotnya was hit by a Ukrainian drone attack on Thursday, causing visible flames and smoke. This incident follows earlier drone strikes on Russian energy infrastructure, contributing to a growing fuel shortage. Meanwhile, Russia launched its own attacks on Kyiv and Sumy. Ukrainian President Zelenskyy discussed war-ending…

The Times of India

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Asian shares shrug off US retreat after initial signing of US-Iran deal on ending the war

Shares have surged in Asia, with benchmarks in Japan and South Korea setting fresh records, after the U.S. and Iran signed their initial agreement ending the war

AAP

US and Iran sign initial deal to end war, ease sanctions and open strait as nuclear talks continue

An initial agreement to end the war between the United States and Iran calls for Tehran to dilute its stockpile of highly enriched uranium and would waive sanctions on the country, immediately allowing Iran to sell its oil freely

AAP

Iran deal calls for diluting uranium at minimum, waiving sanctions & opening strait, US officials say

President Trump announced a deal with Iran, involving uranium dilution and sanctions waivers, allowing immediate oil sales. Mediated by Pakistan, the agreement aims to reopen the Strait of Hormuz and end hostilities in Lebanon. While hailed by Trump, the memorandum of understanding faces scrutiny and potential future renegotiation.

The Economic Times

Europe explores energy security alternatives after Iran war's turmoil

The Iran war's impact on global fuel prices has pushed Europe to explore alternative trade and energy routes

AAP

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Gold recoups losses as oil prices fall on Iran deal

Gold prices saw a significant jump on Thursday, recovering from earlier declines. This surge followed a drop in oil prices. The United States and Iran have signed an interim agreement to end their conflict. This development has influenced market movements. Other precious metals also experienced gains. Investors are watching for…

The Economic Times

Dollar clings to two-month peak as Fed rate-hike bets mount, yen slides

The U.S. dollar reached a two-month high as markets anticipated Federal Reserve rate hikes, pressuring the Japanese yen towards intervention levels. Mounting inflation concerns led nearly half of Fed policymakers to expect a hike this year, with strong retail sales further bolstering hawkish sentiment. Fresh Gulf uncertainties also supported the…

The Economic Times

Stocks slip as Fed rate outlook offsets Iran deal hopes

European shares have fallen, shaking off record highs in Asia, as worry about US interest rate hikes clashed with optimism over the reopened Strait of Hormuz.

AAP

Oil slips again as US, Iran sign peace deal

Oil prices dropped as the U.S. and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions on Tehran's oil. This deal, a 14-point memorandum, initiates a 60-day negotiation period, potentially resolving a major energy supply disruption and leading to a significant supply…

The Economic Times

Markets poised for a positive start as GIFT Nifty ticks higher

Indian equities saw a positive start on Wednesday, with the Sensex and Nifty paring early gains due to profit booking. Analysts anticipate a gradual upward trend driven by easing geopolitical concerns and potential West Asia conflict resolution, further bolstered by declining crude oil prices.

The Economic Times

Storm Arthur tracker, path: Tropical storm hits Texas, flooding alert in Texas, Louisiana, Mississippi, Alabama, Georgia, Florida, 20,000 ‌barrels of oil could be lost as Atlantic Hurricane Season 2026 begins

Storm Arthur updates: Flooding was likely through Friday over parts of Texas, Louisiana, Mississippi, Alabama, Georgia and the Florida Panhandle, the hurricane center said.

The Economic Times

US-Iran deal takes 'immediate effect' after both sides sign, Pakistan premier says

Pakistan says that the deal to end the war in Iran is taking 'immediate effect' after both sides have signed it, but that there will still be a formal signing ceremony on Friday

AAP

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The Conversation

How Australia can deliver the secure gas, renewable fuels and battery minerals Asia and the Pacific need

Energy security is a top priority globally, as governments grapple with the closure of the Strait of Hormuz, an accelerating clean energy transition and surging power demand from AI data centres.

Grocery Coupon Guide

6 Bulk Buys That Spoil Before You Can Eat Them

Shopping at a warehouse club is a fantastic way to save money on your monthly household grocery bill. The thrill of finding a deep discount often leads shoppers to buy absolutely everything in bulk sizes. Unfortunately, this strategy backfires when you purchase perishable items that rot long before your family…

Barchart

Cotton Rallies on Wednesday

Cotton futures closed with Wednesday gains of 115 to 204 points in most contracts. Crude oil was down 17 cents at $75.88. The US dollar index was up $0.981 at $100.26. The Fed left rates unchanged today following their two day meeting. The market will round out the week on...

Latin Times

Trump Says Tentative Iran Deal Avoided 'Economic Catastrophe' As Israel, Democrats Demand Answers

President Donald Trump defended his tentative agreement with Iran at the G7 summit in Évian-les-Bains, France, saying the deal helped avert an "economic catastrophe" that could have hit Americans through soaring oil prices, market turmoil and a prolonged disruption in the Strait of Hormuz.

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AAP

US stocks sink on worries about a possible hike to interest rates this year by the Federal Reserve

The U.S. stock market sank after nearly half the policymakers at the Federal Reserve indicated they may want to raise interest rates before the end of the year

The Guardian - US

US-Iran deal takeaways: reopening the strait of Hormuz, waived oil sanctions and Lebanon

US officials have revealed a preliminary memorandum of understanding between Washington and Tehran to end the costly 110-day conflict

AAP

US officials say Iran deal calls for diluting uranium at minimum, waiving sanctions, opening strait

A memorandum of understanding to be signed Friday by the United States and Iran calls for Tehran to at minimum dilute its enriched uranium and would waive but not permanently end sanctions on the country

International Business Times

Trump Says Global Oil Reserves Would Have Ran Out In 4 Weeks Without Iran Deal

President Donald Trump said on Wednesday that global oil reserves would have ran out in four weeks without a deal with Iran.

Barchart

Tightness in US Crude Supplies Supports Crude Oil Prices

July WTI crude oil (CLN26 ) on Wednesday closed up +0.74 (+0.97%), and July RBOB gasoline (RBN26 ) closed up +0.0291 (+1.01%). Crude oil and gasoline prices settled higher on Wednesday, with crude recovering from a 3.5-month low. Crude oil prices rose on Wednesday on some technical buying after sharp...

France 24

Diluting uranium, oil sales: What's in the draft US-Iran deal?

Senior US officials on Wednesday disclosed the contents of a draft memorandum of understanding with Iran, ending days of secrecy ahead of a planned signing ceremony on Friday. The document outlines an immediate ceasefire, steps toward lifting US sanctions, the restoration of commercial shipping and negotiations on Iran’s nuclear programme.

AAP

BC-OILS

NEW YORK (AP) — Futures trading on the New York Mercantile Exchange Wednesday:

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