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The Latest Breaking News from Oil

Strait of Hormuz Closure Pushes Crude Prices Higher

June WTI crude oil (CLM26 ) on Monday closed up +2.65 (+2.78%), and June RBOB gasoline (RBM26 ) closed up +0.0731 (+2.07%). Crude oil and gasoline prices settled sharply higher on Monday after President Trump rejected Iran's response to his latest peace proposal, which prolongs the closure of the Strait...

Barchart

Natural gas mineral firm WhiteHawk reveals sevenfold revenue surge in US IPO filing

WhiteHawk, a leading natural gas royalty firm, is taking the stock market plunge with its initial public offering. This comes on the heels of an astonishing 615% revenue spike in 2025, mirroring the current energy market's thrumming heart as oil prices rise. With vast natural gas holdings over millions of…

The Economic Times

Trump vows to pause federal gas tax after Iran war boosts US fuel prices to four-year high

National average for gas prices has risen by well over a dollar a gallon since late February

The Guardian - US

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Trump says ceasefire with Iran on ‘life support’ after rejecting peace proposals

US president says he is considering restarting naval escorts in strait of Hormuz in attempt to end Iranian blockade

The Guardian - UK

Observe and shock absorb: To ride out this oil crisis, focus should be on well-targeted support, not broad price suppression

India is navigating a critical oil import challenge. The government's approach of keeping fuel prices steady faces fiscal and equity questions. Experts suggest a move towards targeted aid for the needy instead of broad price cuts. Building strategic reserves and accelerating renewable energy adoption are crucial long-term steps to reduce…

The Economic Times

Why is Putin now talking about the war in Ukraine ‘coming to an end’?

Drone strikes, mounting casualties and a distracted US president means a slow-motion victory is in doubt

The Guardian - UK

Mixed day for stocks as oil prices climb amid ongoing Iran-US deadlock

The continued stalemate between the US and Iran dashed investors’ hopes of an imminent peace deal and heightened concerns over oil supply disruption.

Evening Standard

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India declines Russian LNG under sanctions, talks continue on permitted cargoes, sources say

India has refused Russian liquefied natural gas shipments under United States sanctions. This decision comes amid energy supply concerns due to Middle East tensions. A Russian LNG tanker bound for India remains in limbo. India prioritizes avoiding sanctioned cargoes due to compliance risks. Russia seeks new markets for its LNG…

The Economic Times

India has 60 days of crude oil, 60 days of Natural Gas & 45 days of LPG rolling stock: Centre

India is launching a national mission to conserve fuel amid global energy market turmoil. The government assures citizens of robust energy security and ample reserves. This collective effort aims to ease the nation's financial burden from high international crude prices. Prime Minister Modi urges public participation to reduce consumption and…

The Economic Times

Current price of oil as of May 11, 2026

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

Fortune

Petroleum Ministry says fuel, LPG stocks adequate amid global supply disruptions; urges citizens to conserve energy

India's Petroleum Ministry confirms stable fuel supplies despite global energy challenges. Crude oil inventories are secure, refineries operate at peak capacity, and no fuel shortages are reported nationwide. The government urges citizens to conserve fuel by using public transport, carpooling, and opting for electric vehicles. These measures aim to ease…

The Economic Times

Indian state oil refiners eye modest fuel price hike as losses mount

Indian state refiners anticipate a small rise in fuel prices soon. This move aims to balance losses from the ongoing Persian Gulf war and consumer needs. Diesel and gasoline prices may increase by about 5 rupees per liter. This adjustment is necessary to offset significant daily losses.

The Economic Times

IRGC-linked media outlines plan to tax and control undersea internet cables in the Hormuz Strait — Iran's mouthpiece calls for a cut of $10 trillion of transactions that pulse through the cables daily

The oil and shipping choke point of the Strait of Hormuz looks set to become a digital pressure point with internet cabling under threat.

Tom’s Hardware

India can't afford rising import dependence on edible oil: Industry body SEA on PM appeal

The Solvent Extractors’ Association of India (SEA) backed Prime Minister Narendra Modi’s appeal to reduce edible oil consumption, saying lower usage would help India curb import dependence, reduce vulnerability to global supply shocks and save foreign exchange amid rising geopolitical and climate risks. SEA said India imports nearly 60% of…

The Economic Times

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The Guardian - UK

Oil prices climb after Trump dismisses Iran’s response to peace plan

Brent crude rises after US president calls overture from Tehran ‘totally unacceptable’

Times Life

Shani Jayanti 2026: Date, Timing, Rituals & Significance

Every year, millions of devotees across India observe Shani Jayanti with deep devotion and reverence toward Shani Dev, the deity associated with karma, discipline, justice, and consequences of actions in Hindu belief. The festival marks the birth anniversary of Shani Dev and is considered one of the most spiritually significant…

The Guardian - UK

Eight of the best secluded and affordable places to stay in Andalucía, Spain

From B&Bs and cabins to fincas and family hotels, these rural boltholes make ideal bases for exploring the region’s mountains, trails and historic towns and villages

The Times of India

The Iran draft proposal Trump called 'totally unacceptable': What was in it?

Iran has presented a list of demands for a ceasefire with the US. These include lifting sanctions, compensation for damages, and the withdrawal of American troops. President Trump has rejected these terms as unacceptable. The standoff has impacted global oil markets and heightened regional tensions. Diplomatic efforts continue amidst ongoing…

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MyLifeXP

Why PM Modi Suddenly Wants Indians to Work From Home

As fuel prices rise and tensions in West Asia continue to grow, Prime Minister Narendra Modi has made an unexpected appeal to Indians work from home whenever possible, avoid unnecessary travel, and use fuel carefully. For many people, it sounded like a reminder from the Covid era. But behind this…

The Economic Times

PM Modi WFH: Rahul Gandhi slams prime minister's appeals as 'proofs of failure'

Congress leader Rahul Gandhi has strongly criticized Prime Minister Narendra Modi's recent appeals to citizens. Gandhi stated that the Prime Minister's calls for people to work from home and avoid foreign travel are clear indications of failure. He argued that these directives are not advice but rather proof of the…

The Economic Times

Maharashtra CM Fadnavis urges citizens to follow PM Modi's call for responsible fuel use amid West Asia crisis

Maharashtra Chief Minister Devendra Fadnavis supports Prime Minister Narendra Modi's call for responsible consumption. Global conflicts are impacting oil and gas supplies, raising prices. Fadnavis warns that improper fuel use could lead to shortages in India. Prime Minister Modi urged citizens to reduce edible oil consumption and embrace natural farming.

Motor1

Woman Rents Car. Then She Redlines It On Purpose: ‘You Are Aware That Rentals Have a Data Logger…’

To any reasonable car enthusiast, there’s an instinctive recoil at the sound of a cold engine running near its maximum RPMs. It’s a situation that provokes alarm and concern as a reflex, even if the vehicle is an unfamiliar one.

The Independent UK

Venezuela warns of 'serious' environmental impact from alleged oil spill in Trinidad and Tobago

Venezuela said that an oil spill that originated in Trinidad and Tobago has caused serious environmental damage along the coastlines of at least two of its states and in a gulf area near the Caribbean nation

The Guardian - US

After Standing Rock, could a canceled mine project offer a roadmap for opponents of a new oil pipeline in South Dakota?

Nine groups in the Sioux Nation say an exploratory graphite drilling project endangered a recognized ceremonial site

The Guardian - UK

‘Degree of complacency’: are supply chains prepared for impact of ongoing Iran war?

The economic warnings are bleak, but full extent of shortages are still not felt for many European countries

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