The Latest Breaking News from Oil

Oil is up after Strait of Hormuz closed again – so why hasn’t the stock market cratered this time?

Prolonged conflict in the Middle East will likely see markets impacted but investors are being cautious for now

The Independent UK · Jul 14

US consumer inflation cools in June on lower energy costs

US consumer inflation cooled more than anticipated in June, government data showed. Energy prices fell momentarily last month, aiding the inflation slowdown. Analysts had expected a larger uptick in the consumer price index. Renewed hostilities are pushing oil prices upwards again currently. Federal Reserve chairman Kevin Warsh will address lowering…

The Economic Times · Jul 14

IOC, BPCL, HPCL step up fuel quality checks amid social media concerns

Indian Oil, Bharat Petroleum, and Hindustan Petroleum have intensified fuel quality inspections nationwide. These companies conducted thousands of surprise checks and tests over the past week. Their quality assurance systems involve field inspections and laboratory testing. No adulteration or critical irregularities were found during these recent checks. Customers are urged…

The Economic Times · Jul 14

Cotton Facing Early Tuesday Weakness

Cotton prices are down 50 to 64 points so far on Tuesday morning. Futures were mixed to start the week, with contracts down 9 to 10 points higher. Crude oil was up $6.54 on the day following increased tensions with the US and Iran. The US dollar index was up...

Barchart · Jul 14

Market wrap: Top gainers and losers on Nifty and Sensex today

Indian benchmark indices ended sharply lower on Tuesday as escalating Middle East tensions and surging crude oil prices triggered broad-based selling. Sensex fell 561 points and Nifty slipped below 24,100, with auto, IT, PSU banks and realty leading losses, while pharma stocks outperformed amid a flight to defensive sectors.

The Economic Times · Jul 14

US strikes Bushehr as Iran's parliament tables bill to control Hormuz

Four points in the port city hosting Iran's only nuclear power plant were hit by US projectiles on Tuesday, as Iran's parliament formally submitted a bill asserting Tehran's permanent control over the Strait of Hormuz.

Euronews · Jul 14

Oil spike jolts Indian bonds, 10-year yield hits three-week high

On Tuesday, Indian government bonds faced a notable downturn, with the benchmark 10-year yield climbing to a three-week peak as global market anxiety intensified. The recent spike in oil prices following tensions in the U.S.-Iran relationship has shaken investor confidence, resulting in a weaker rupee and declining stock values in…

The Economic Times · Jul 14

Earthquake aid keeps flowing from Florida to Venezuela, with help from the U.S. State Department

Eighteen-year-old Alessandra Izaguirre is part of a massive grassroots effort to help Venezuela after devastating earthquakes

The Independent UK · Jul 14

Oil price jumps as US-Iran clashes raise odds of interest rate rises

Energy prices later stabilise after Trump abandons plan for 20% levy on traffic through strait of Hormuz

The Guardian - UK · Jul 14

E20 causes no engine damage, no major mileage loss: IIT Kanpur

IIT Kanpur researchers report no significant fuel efficiency drop with E20 petrol. Their studies found no evidence of engine damage from the blended fuel. The Oil Ministry also stated E20 offers benefits outweighing minor mileage impacts. Extensive testing has been conducted on ethanol-blended fuels by the institute. Motorists should consult…

The Economic Times · Jul 14