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The Latest Breaking News from Oil

India's trade deficit narrows slightly to $28.21 billion in May as petroleum exports cushion energy import blow

India's trade deficit saw a slight reduction in May. A recent US-Iran agreement is bringing welcome relief. This deal is expected to stabilize shipping through the Strait of Hormuz. Consequently, global crude oil prices should moderate. This will ease pressure on India's import bill and help control inflation. Exporters anticipate…

The Economic Times

US-Iran peace deal brings relief, but India turns to a risk at home

India just got a near-term macroeconomic breather from a US-Iran peace deal. However, early monsoon weakness and potential El Niño conditions are emerging as the next major test for growth and price stability, shifting focus from imported energy stress to domestic climate risk.

The Economic Times

What we know as Trump says peace deal reached with Iran

‘Ships of the World, start your engines. Let the oil flow!’ Trump wrote on Truth Social on Sunday afternoon

The Independent UK

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Stock Markets Surge and Oil Falls as US And Iran Confirm Historic Deal to End War and Reopen Strait of Hormuz

Global stock markets surged after the US and Iran confirmed a peace deal to reopen the Strait of Hormuz, easing fears of prolonged energy disruption and boosting investor confidence.

International Business Times UK

Your shampoo may be cleaning your hair, but is it treating your scalp?

Most shampoos do a decent job of cleaning the hair shaft. But if you keep dealing with flakes, an itchy scalp, or that persistent oily feeling, the problem likely isn't your hair. It's what's happening underneath.

The Economic Times

Starmer welcomes ‘breakthrough’ in ending US-Iran war

US President Donald Trump said the agreement meant ‘oil will flow’ freely once again through the Strait of Hormuz, a vital shipping route.

Evening Standard

FTSE 100 up and oil prices down after US-Iran peace deal

Oil prices experienced a significant decline, with benchmark Brent crude falling over 5% to just over 82 US dollars a barrel, reaching its lowest point in more than three months, following an announcement of a peace deal between the US and Iran . The proposed agreement, announced by Donald Trump,…

The Independent UK

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UPDATE 1-UK bond yields fall to two-month low on US-Iran preliminary deal

British government bond yields dropped to a two-month low on Monday. This followed a preliminary peace deal between the United States and Iran. Oil prices fell more than five percent. Two-year gilt yields dropped over eight basis points. Ten-year yields also fell. This eased fears of a wider stagflationary shock.…

The Economic Times

Trump’s Iran war costs UK drivers £4bn in higher fuel prices

Iran’s Strait of Hormuz blockade led to oil prices hitting their highest level since 2022

The Independent UK

US and Iran Reach Ceasefire Deal: Strait of Hormuz to Reopen Toll-Free with Signing in Switzerland on Friday

The US and Iran have agreed to a ceasefire, reopening the Strait of Hormuz toll-free, easing global oil tensions, and setting the stage for future nuclear negotiations

International Business Times UK

Oil retreat hands RBI an assist in boosting rupee's near-term outlook

A U.S.-Iran peace deal has led to a slump in oil prices, bolstering the Indian rupee. This, combined with the Reserve Bank of India's measures to attract foreign inflows, is expected to support the currency's near-term trajectory. Analysts anticipate the rupee to appreciate as import bills decrease and investor confidence…

The Economic Times

Ibex 35 rallies on Iran deal and hits record 19,000 points

The US-Iran memorandum reopening the Strait of Hormuz sends oil prices tumbling, pushes the Ibex 35 to a record above 19,000 and lifts European bourses.

Euronews

Why Was a Russian Oil Tanker Sailing Under Cameroon's Flag? UK Investigates Vessel Seized in English Channel

British forces intercepted a suspected Russian shadow-fleet oil tanker in the English Channel, investigating its Cameroonian registration and potential links to sanctioned Russian oil exports.

International Business Times UK

Albanese signals fuel excise cut may be extended to help motorists amid Middle East crisis

Prime minister flags an announcement after deliberations of cabinet’s expenditure review committee

The Guardian - AU

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The Economic Times

Falling crude prices shift market narrative; energy, defence and BFSI emerge as key bets: Pankaj Pandey

Easing crude oil prices and moderating foreign investor selling are improving India's investment outlook. Head Research Pankaj Pandey highlights energy security and defence as long-term themes, with BFSI also positioned for a re-rating. Sectors like airlines, commercial vehicles, and shipping are expected to gain from lower fuel costs.

The Guardian - AU

Afternoon Update: US and Iran reach peace deal; shark expert criticises Tony Abbott; and the Socceroos’ it-bags

Trump will attend G7 Summit in France, where Macron says the deal between US and Iran will be discussed, as global oil prices tumble

The Economic Times

STOXX 600 hits record high after US-Iran preliminary peace deal

Europe's STOXX 600 reached a record high as a preliminary peace agreement between the US and Iran boosted global risk sentiment and lowered oil prices. Auto and airline stocks led the gains, with the travel and leisure sector also hitting a new peak. Energy stocks were among the few decliners.

The Economic Times

Rupee may gain ground as crude prices ease and FCNR inflows rise, says Navneet Damani

The Indian rupee is poised for appreciation, driven by a significant drop in crude oil prices and anticipated substantial inflows from NRI FCNR(B) deposits. Recent tax reforms are expected to attract between $50 billion and $70 billion, potentially reversing the currency's recent depreciation and pushing it towards 92-93 levels.

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Evening Standard

FTSE 100 jumps above 10,500 points as Starmer hails 'very significant breakthrough' on Iran peace deal

Cost of oil falls after months of economic chaos caused by the Middle East conflict

The Times of India

Russia fires 70 missiles, 611 drones at Kyiv in massive assault; Ukraine strikes fuel depot, explosives plant

Russia unleashed a massive overnight aerial assault with 70 missiles and over 600 drones targeting Ukraine. Kyiv retaliated, striking a Russian oil facility and a major chemical plant. Both nations reported successful strikes on military and industrial sites, highlighting an escalating long-range warfare strategy as the conflict continues.

Evening Standard

Cost of Iran oil crisis to UK drivers reaches £4bn

Iran’s restrictions on tankers passing through the Strait of Hormuz led to oil prices hitting their highest level since 2022.

Radio France Internationale

French-UK mission 'ready' to aid Hormuz reopening, says Macron

France's president on Monday said that a military mission set up by Paris and Britain to help with Strait of Hormuz traffic was ready to deploy, following the announcement of an US-Iran deal to end the war in the Middle East, including in Lebanon. Israel insists it is not bound…

Evening Standard

Oil prices drop as Trump heralds US-Iran peace deal

Benchmark Brent crude fell more then 4% to just over 83 US dollars a barrel at one stage on hopes of a reopening of the Strait of Hormuz.

The Economic Times

Supply recovery, not demand, will be oil market's key test: Vandana Hari

Global crude oil prices have fallen significantly from wartime highs, but market expert Vandana Hari cautions against declaring victory. She anticipates a holding pattern until a formal memorandum of understanding is signed, with a gradual reopening of key energy routes expected to take months. Hari also believes demand destruction was…

The Economic Times

India's wholesale inflation at 9.68% in May under revamped series as Iran war-driven oil costs bite

India’s wholesale inflation stood at 9.68% in May under a new series, with food and fuel prices remaining high amid ongoing US-Iran conflict-driven pressures on crude oil and global supply chains. The government also introduced a producer price index and revised the WPI base year to 2022-23, expanding commodity coverage…

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