The Latest Breaking News from Oil

Soybeans Facing More Thursday Pressure

Soybeans are falling back 8 ½ to 15 ¼ cents across most contracts. The cmdtyView national average Cash Bean price is down 14 1/2 cents at $11.31 3/4. Soymeal futures are $3.40 to $4.60 higher across most contracts, with Soy Oil futures 43 to 55 points lower. There were no...

Barchart · Jul 9

Bulletin world briefing: Ukraine hits 12 oil tankers in Sea of Azov as Russian fuel shortages intensify

Here are five stories from across the globe you may have missed

The Independent UK · Jul 9

Oil Price Alert: Crude Spikes Past £60 as Trump's War Rhetoric Threatens Strait of Hormuz Blockade

Global markets experienced volatility after President Trump cast doubt on the Iran ceasefire, causing oil prices to surge and stock indices to drop, impacting the energy and housing sectors.

International Business Times UK · Jul 9

Iran says it hits US military targets in Gulf, lays slain leader to rest

Iranian forces attacked U.S. military infrastructure in Gulf states on Thursday. These strikes followed U.S. attacks on Iran's southern and eastern provinces. The events put further strain on a three-week-old ceasefire agreement. Iran's Revolutionary Guards warned of a crushing response to further U.S. intervention. Oil prices fell as investors weighed…

The Economic Times · Jul 9

Is Hormuz reopening or shutting down? Shipping data and IRGC claims don’t match

Oil tanker traffic through the Strait of Hormuz slowed significantly on Thursday. Renewed US airstrikes and Iranian retaliatory attacks heightened security concerns in the Gulf. Iran's IRGC Navy claimed the strategic waterway was secured and gradually reopening. Several vessels turned off tracking systems, limiting visibility of actual ship movements. Shipping…

The Times of India · Jul 9

CIC upholds Indian Oil's refusal to disclose records of fuel quality inspection, fraud records

The applicant said consumers are "overburdened with the fuel prices" and the information should be centrally maintained in today's digital era. The Central Information Commission accepted the oil major's contention that compiling the data, scattered across its 16 state offices and 73 divisional offices, would disproportionately divert its resources under…

The Economic Times · Jul 9

42 Everyday Items People Secretly Use For Completely Different Things

The chainsaw may be one of the most useful tools for cutting wood, but that wasn’t its original purpose. It first appeared in the late 18th century as a medical device meant to assist during difficult childbirths. And it’s far from the only product whose purpose changed over time. One…

Bored Panda · Jul 9

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

The Economic Times · Jul 9

Goldman Sachs Ditches Oil Glut View— Warns Gulf Hostilities Could Choke Crude Flows

A week after warning of an impending global oil glut, Goldman Sachs reversed its outlook, saying renewed hostilities in the Persian Gulf now pose a risk of prolonged oil supply disruptions.

Benzinga · Jul 9

Trump Has Accused Oil Companies Of Gauging Prices. The White House Just Announced New Stations Selling Gas Below Market Prices

The White House has announced a new gas station has opened and is selling gasoline below market prices.

International Business Times · Jul 9