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The Latest Breaking News from Oil

Breaking 10 publishers covering this story in the last 6 hours

Crude Prices Tumble as Global Oil Supplies Normalize

August WTI crude oil (CLQ26 ) today is down -0.91 (-1.33%), and August RBOB gasoline (RBQ26 ) is down -0.0758 (-2.57%). Crude oil and gasoline prices extended their three-week-long slide today, with crude falling to a new 4.25-month low. Crude prices are falling today as an increase in Middle Eastern...

Barchart · Jul 2

Stock Indexes Turn Mixed as Chipmakers Sink

Stock Indexes Turn Mixed as Chipmakers Sink

The S&P 500 Index ($SPX ) (SPY ) is up +0.10% today, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.85%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.92%. September E-mini S&P futures (ESU26 ) are up +0.08%, and September E-mini Nasdaq futures...

Barchart · Jul 2

Dollar Tumbles on a Weak US Jobs Report

Dollar Tumbles on a Weak US Jobs Report

The dollar index (DXY00 ) fell to a 2-week low today and is down by -0.68%. The dollar tumbled today on the weaker-than-expected US Jun payroll report, which dampened speculation that the Fed will tighten monetary policy anytime soon. The dollar is also under pressure amid weakness in crude oil...

Barchart · Jul 2

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India refiner Nayara's gasoline sold to Russia via traders, sources say

Indian refiner Nayara Energy's gasoline is reportedly reaching Russia, which faces fuel shortages due to Ukrainian attacks. While Indian Oil Minister stated no direct sales, traders might be facilitating these shipments. Nayara, with a stake held by Russian oil major Rosneft, has been processing exclusively Russian crude and relying on…

The Economic Times · Jul 2

Airlines shun Rs 10,000-crore ATF subsidy as fuel prices fall

A Rs 10,000-crore jet fuel price stabilisation programme has failed to attract any airline sign-ups. The scheme, designed to shield carriers from surging fuel costs, lost its appeal as international oil prices declined. Airlines were offered a capped price of Rs 115 per litre, but market-linked rates have since fallen…

The Economic Times · Jul 2

Stocks Climb as Fed Rate Hike Fears Ease on a Weak Jobs Report

The S&P 500 Index ($SPX ) (SPY ) today is up +0.67%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.85%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.40%. September E-mini S&P futures (ESU26 ) are up +0.58%, and September E-mini Nasdaq futures...

Barchart · Jul 2

Trump’s Iran gamble is descending into chaos

The Independent UK · Jul 2

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Current price of oil as of July 2, 2026

Current price of oil as of July 2, 2026

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

Fortune · Jul 2

Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices

Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices

Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave…

The Economic Times · Jul 2

Meta’s cloud compute dreams: Why opt for U.S. AI data centers when Saudi Arabia has cheap oil and cheaper power?

Meta’s cloud compute dreams: Why opt for U.S. AI data centers when Saudi Arabia has cheap oil and cheaper power?

“Data center capacity in the United States is not going to age well,” MNTN CEO Mark Douglas told Fortune. He gives it two years.

Fortune · Jul 2

The Softer Hair Shortcut Everyone's Trying: Portable Hair Oil Mists and Smart Hair Care Tips

The Softer Hair Shortcut Everyone's Trying: Portable Hair Oil Mists and Smart Hair Care Tips

Achieve softer, shinier hair with portable hair oil mists. Discover effective hair care tips, common mistakes to avoid, and how to choose the right formula.

Fashion Times · Jul 2

Cotton Slipping Back on Thursday Morning

Cotton Slipping Back on Thursday Morning

Cotton price action is down 11 to 21 points so far on Thursday morning. Futures were in rally mode late on Wednesday, with contracts up 104 to 106 points in the front months. Crude oil was down $1.41/bbl to $68.09. The US dollar index was up $0.243 at $101.200. The...

Barchart · Jul 2

India not exporting fuel directly to Russia, any supplies are trader-led: Puri

India not exporting fuel directly to Russia, any supplies are trader-led: Puri

India's Oil Minister, Hardeep Singh Puri, has stated that Indian companies are not directly supplying refined fuels to Russia. While reports suggested Moscow was importing gasoline from India to address shortages, Puri clarified that any Indian-origin refined fuel reaching Russia is likely through intermediaries. This distinction aims to address concerns…

The Economic Times · Jul 2

Spicy fish sandos, feta scones and pork chops: Alexina Anatole’s summer berry recipes

Spicy fish sandos, feta scones and pork chops: Alexina Anatole’s summer berry recipes

British berries always sparkle in desserts like this French almond sponge, but their hidden talent lies in savoury dishes

The Guardian - UK · Jul 2

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The Independent UK · Jul 2

FACT FOCUS: Iran claims a foreign ship got stuck in Strait of Hormuz. But it is tied to Tehran

Iranian state television claimed this week that a foreign ship got stuck in the Strait of Hormuz after ignoring instructions to use a route laid out by the Islamic Republic’s paramilitary Revolutionary Guard

The Economic Times · Jul 2

Nifty eyes 24,500-24,800 in July as crude cools and FII selling slows; buy the dip towards 23,600–23,800: Dharmesh Shah

Indian equity markets are poised for further gains, with Nifty expected to target 24,500-24,800 by July. ICICI Direct's Dharmesh Shah advises investors to "buy the dip" as key support at 23,800 holds firm. Favorable macro factors like easing crude oil prices and bond yields, alongside receding FII selling, are bolstering…

The Economic Times · Jul 2

India's June palm oil imports fall to 14-month low as demand softens, dealers say

India's palm oil imports plunged to a 14-month low in June, driven by weak consumer demand and a shrinking price advantage over rival oils. This significant drop, alongside reduced soyoil and sunflower oil purchases, signals a broader decline in edible oil imports. Factors like cautious buying by refiners, cooking gas…

The Independent UK · Jul 2

England’s World Cup win gives economy welcome boost

Pubs on the up, but business confidence remains low

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The Guardian - UK · Jul 2

At least 27 dead as Russia launches massive drone and missile attack on Kyiv

More than 70 missiles fired at Ukraine capital as Russia faces fuel shortages after strikes against its oil refineries

The Independent UK · Jul 2

Iran warns oil tankers to use approved routes in Strait of Hormuz or face a ‘forceful response’

Iranian deputy foreign minister has asserted that Strait of Hormuz is ‘under Iran's command’

The Independent UK · Jul 2

Oil prices dip to level not seen since before the Iran war – here’s why

The Economic Times · Jul 2

Rs 1 lakh crore on crude imports will be saved by 2030, as 35 lakh EVs will replace petrol vehicles: SBI Report

India is poised for a significant electric vehicle surge, with an estimated 35 lakh petrol vehicles to be replaced by EVs between 2027-2030. This shift could slash crude oil import bills by Rs 1 lakh crore if EVs capture 20% of the market by 2030. The West Asia conflict has…

The Independent UK · Jul 2

Oil prices fall to pre-war levels as Strait of Hormuz shipping slowly recovers

Tanker traffic through Hormuz has begun to recover, though vessel movements remain well below pre-conflict levels

The Economic Times · Jul 2

Govt lines up PSU stake sales to cushion budget hit from oil

India is accelerating plans to divest stakes in major state-owned entities, including the nation's largest insurer, Life Insurance Corp., to boost public finances. Hindustan Zinc and several banks are also slated for stake sales. Officials are actively engaging with investment bankers to gauge market appetite and finalize offerings, aiming to…

The Economic Times · Jul 2

Fed can afford to stay patient as inflation risks ease: Steve Englander

The Federal Reserve is unlikely to alter interest rates soon, as inflation moderates and the economy remains stable, according to Steve Englander of Standard Chartered. He believes muted labor costs and easing oil prices reduce the need for immediate policy shifts.

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