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The Latest Breaking News from Oil

Fresh Clashes Between the US and Iran Boost Crude Oil Prices

July WTI crude oil (CLN26 ) on Wednesday closed up +2.26 (+2.41%), and July RBOB gasoline (RBN26 ) closed down -0.0127 (-0.40%). Crude oil prices rallied to a 1.5-week high on Wednesday and settled sharply higher as clashes between the US and Iran cast doubt on prospects for a peace...

Barchart

BC-OILS

NEW YORK (AP) — Futures trading on the New York Mercantile Exchange Wednesday:

AAP

Iran fires missiles, US strikes Iran facility after reports of faltering peace talks

Iran's paramilitary Revolutionary Guard said it had targeted the headquarters of the US Navy's 5th Fleet in Bahrain and another country in its attack, without naming Kuwait. It said it launched its attack in response to the US firing a missile into the engine room of another oil tanker trying…

The Economic Times

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Cotton Facing Weakness on Wednesday

Cotton futures are trading with 45 to 73 point losses across most contracts on Wednesday. The US dollar index is up $0.296 at $99.480. Crude Oil is another $1.96 higher to $95.72 The Seam reported sales on 137 bales on Tuesday at an average of 69.80 cents/lb. The Cotlook A...

Barchart

Soybeans Falling Lower on Wednesday

Soybeans are falling with 6 to 9 cent losses across most contracts on Wednesday. The cmdtyView national average Cash Bean price is down 9 cents at $10.97 3/4. Soymeal futures are $2.30 to $4 lower, with Soy Oil futures 60 to 80 points higher. As Wall Street Journal report stated...

Barchart

85% ethanol-ready bikes are here: Hero launches new Splendor+ and HF Deluxe; Check prices, specifications and features

Hero MotoCorp introduces India's first mass-market flex-fuel motorcycles. The Splendor+ Flex Fuel and HF Deluxe Flex Fuel can run on petrol blended with up to 85% ethanol. This launch supports India's clean mobility goals and reduces dependence on imported crude oil. These bikes will be available from July 2026, marking…

The Economic Times

Oil price climbs as Middle East tensions flare

The FTSE 100 closed down 41.21 points, or 0.4%, at 10,332.30.

Evening Standard

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Collapse is near: Trump's window to resolve Iran crisis closing fast

West Asia tensions are escalating, impacting global markets. Iranian attacks and US strikes near the Strait of Hormuz are disrupting oil supplies. Economists warn of a significant economic shock if a US-Iran agreement remains elusive. This conflict threatens jobs and economic growth worldwide, particularly in Europe and Asia. The world…

The Economic Times

Oil prices climb back toward $100, and US stocks halt their record-breaking rally

Oil prices are rising following the latest threats to the U.S.-Iran ceasefire, and U.S. stocks are retreating their records

AAP

Fuel price shield helping India and consumers to tackle West Asia crisis: Gita Gopinath

India is already cushioning the economy from the West Asia crisis. Gita Gopinath, former IMF Deputy Managing Director, states the government is limiting fuel price hikes. This acts as an implicit subsidy. She advises more targeted support for vulnerable households and businesses instead of broad fuel subsidies. This approach helps…

The Economic Times

Ukrainian drones hit St. Petersburg oil terminal before city hosts Russian economic forum

Ukrainian long-range drones have struck an oil terminal in St. Petersburg, setting it ablaze, according to President Volodymyr Zelenskyy

AAP

Crude Oil Prices Gain on Middle East Peace Doubts

July WTI crude oil (CLN26 ) today is up +1.80 (+1.93%), and July RBOB gasoline (RBN26 ) is up +0.0155 (+0.49%). Crude oil prices are moving sharply higher today, posting a 1.5-week high as clashes between the US and Iran cast doubt on prospects for a peace deal that would...

Barchart

Elevated oil prices could drag India's growth to 6%, below IMF forecast of 6.5%: Gita Gopinath

Elevated oil prices could slow India's economic growth to around 6%, according to former IMF official Gita Gopinath. She warned that prolonged West Asian tensions could further impact global growth and India's prospects. Gopinath emphasized supply-side reforms, renewable energy, and improving ease of doing business to boost investment and strengthen…

The Economic Times

France arrests Russian captain of Moscow-linked oil tanker

The captain of the Tagor, a tanker suspected of belonging to Russia’s “ghost fleet” that was boarded in the Atlantic Ocean by the French Navy, was taken into custody on Tuesday, announced Brest prosecutor Stéphane Kellenberger.

France 24

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AAP

Ukrainian drones hit St Petersburg oil terminal before it hosts Russian economic forum

Ukrainian long-range drones have struck an oil terminal in St. Petersburg, setting it ablaze, according to President Volodymyr Zelenskyy

Barchart

Strength in US Economic Reports Boosts the Dollar

The dollar index (DXY00 ) today is up by +0.23%. The dollar is moving higher today and is being supported by a +1% increase in WTI crude oil prices, which lifts inflation expectations and may prompt the Fed to tighten monetary policy, a bullish factor for the dollar. Gains in...

AAP

Oil prices climb back toward $100, and the record-breaking rally for US stocks stalls

Oil prices are rising following the latest threats to the U.S.-Iran ceasefire, and U.S. stocks are stalling near their records

Barchart

Stocks Pressured as Middle East Flare-Ups Boost Crude Oil

The S&P 500 Index ($SPX ) (SPY ) today is down -0.57%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.60%. June E-mini S&P futures (ESM26 ) are down -0.50%, and June E-mini Nasdaq futures...

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AAP

Ukrainian drones hit St Petersburg oil terminal before the Russian city hosts economic forum

President Volodymyr Zelenskyy says that long-range Ukrainian drones have struck an oil terminal in the Russian city of St. Petersburg

AAP

Oil prices climb back toward $100, but US stocks hang near their records

Oil prices are rising back toward $100 per barrel, but U.S. stocks are nevertheless holding near their records

France 24

Ukraine strikes St. Petersburg with drones ahead of 'Russian Davos'

Ukrainian drone attacks in St. Petersburg targeted military and energy infrastructure overnight into Wednesday, setting ablaze a Russian warship and oil depots on the Baltic coast. This attack deep in Russian territory came on the opening day of Putin's three-day economic forum held in the city and as NATO Secretary…

Fortune

Current price of oil as of June 3, 2026

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

International Business Times

Fuel Prices To Remain Elevated In The U.S. Even If Hormuz Strait Is Reopened Soon With Inventories Almost Depleted

Global oil and gas inventories are almost depleted as the Strait of Hormuz has been closed for over three months. As a result, even if the key waterway is quickly reopened, U.S. consumers will still face high fuel prices.

Barchart

Cotton Slipping Back on Wednesday Morning

Cotton price action is down 55 to 81 points so far on Wednesday. Futures posted gains of 38 to 73 points in most contracts on Tuesday. The US dollar index was up $0.023 at $99.170. Crude Oil was $1.23 higher to $93.39 The weekly NASS Crop Progress report showed 66%...

The Conversation

How methane policy will make or break the climate crisis

There’s no sign that methane emissions are declining globally.

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