The Latest Breaking News from Oil

Trump Said The Ceasefire With Iran Is Over. Oil Prices Are Immediately Soaring

Oil is surging on Wednesday after President Donald Trump said the ceasefire with Iran is over.

International Business Times · Jul 8

India's 10-year bond logs worst day in 3 months on faltering Iran deal

India's benchmark bond faced a dramatic decline, its most significant drop in over three months, primarily driven by a surge in oil prices linked to geopolitical tensions. This alarming rise in crude prices threatens India's economic growth and inflation forecast, leading to a substantial uptick in bond yields and swap…

The Economic Times · Jul 8

Backlash on ethanol-blend fuel intensifies in India, puts carmakers in the dock

India's mandatory E20 fuel policy faces public backlash and political opposition. Car owners report reduced mileage and potential vehicle damage from the new fuel. The government asserts E20 reduces crude oil imports and aids farmers. Opposition leaders demand clarity from automakers regarding vehicle compatibility with E20. This policy, implemented nationwide,…

The Economic Times · Jul 8

Crude oil prices jump 6%, hit two-week high after Trump says Iran peace deal is ‘over’. What are experts saying?

Crude oil prices rose sharply on Wednesday to a two-week high after Donald Trump declared the Iran peace agreement "over", reviving fears of fresh supply disruptions from the Middle East. Analysts say concerns over the Strait of Hormuz, tighter sanctions and depleted inventories could keep oil prices elevated in the…

The Economic Times · Jul 8

Iran war news update: Brent crude oil price, WTI jump over 6 per cent, concerns grow ⁠over near-term supply availability

International oil benchmark Brent crude climbed as much as 6.52 per cent or $4.69 to trade near $80 a barrel. Similarly, US benchmark West Texas Intermediate (WTI) advanced more than 6 per cent or $4.85 to around $75 a barrel.

The Economic Times · Jul 8

Big Tech joins Calgary Stampede oil bash, as Canada courts data centers

Big Tech companies are increasing their presence at the Calgary Stampede. Alberta is actively seeking data center investment, offering affordable power and cold climates. Google, Meta, and Amazon are showing interest in the province's development opportunities. The government plans a major investment announcement in the technology sector soon. Pembina Pipeline…

The Economic Times · Jul 8

Stock Index Futures Tumble as Oil Jumps After Trump Says U.S.-Iran Ceasefire Is Over, FOMC Minutes on Tap

September S&P 500 E-Mini futures (ESU26) are down -0.96%, and September Nasdaq 100 E-Mini futures (NQU26) are down -1.34% this morning as sentiment took a hit after U.S. President Donald Trump declared an end to the ceasefire with Iran, sending oil prices and bond yields soaring.

Barchart · Jul 8

Rupee slumps to one-month low as oil soars after Trump says Iran deal is 'over'

The Indian rupee fell to its weakest level in nearly a month on Wednesday. This decline occurred after U.S. President Donald Trump stated the interim accord with Iran was over. Oil prices jumped significantly, renewing fears of Middle East supply disruptions. Indian stocks also dropped sharply, their steepest fall in…

The Economic Times · Jul 8

US futures tumble as Trump says Iran deal is 'over'; oil climbs

On Wednesday morning, U.S. stock futures took a significant hit as President Donald Trump declared the memorandum of understanding with Iran null and void. This announcement sparked a notable rise in oil prices, leading to a boost in energy stocks during premarket trading. Meanwhile, investors await the release of the…

The Economic Times · Jul 8

Strait of Hormuz closed again? Check latest status as Donald Trump declares US-Iran war ceasefire collapsed

Iran war news update: Strait of Hormuz The strategic shipping route remains a flashpoint in the conflict, which began in late February with massive US-Israeli strikes on Iran.

The Economic Times · Jul 8