The Latest Breaking News from Oil

California delays first emissions reporting deadline to November

In this week’s edition of Economy and Society:

Ballotpedia · Jul 1

US-Iran ceasefire tailored for US mid-terms, not lasting peace: Report

The ceasefire between the US and Iran has eased fears of a wider conflict and led to the reopening of the Strait of Hormuz, pushing oil prices lower. However, the truce may be tactical rather than permanent, according to analyst cited by Reuters. The underlying disputes, over Iran's nuclear program,…

The Times of India · Jul 1

Cotton Posting Midday Gains on Wednesday

Cotton futures are showing 22 point gains in the front month July with other nearbys up 90 points at midday. Crude oil was down $1.22/bbl to $65.28. The US dollar index is up $0.183 at $101.140. The annual June Acreage report showed all cotton acres this spring planted at 9.85...

Barchart · Jul 1

June’s Top Commodity Performers and Underperformers

Commodity prices declined in June as the dollar index rallied and interest rates remained elevated. Precious metals and energy commodities posted the most substantial declines in the month that ended on June 30.

Barchart · Jul 1

Trump Scapegoats Gas Companies for Price Hikes Caused by His Iran War

The president is threatening gas companies and retailers over prices his own Iran policy helped create, while demanding that prices drop to a level the market hasn't seen since 2020.

Reason · Jul 1

Ukraine hits Russia's Ufa oil refinery for second time in a week, Zelenskyy says

Ukraine’s domestically developed and manufactured drones and missiles have been hammering Russian oil facilities, including refineries, terminals, storage depots and pipeline pumping stations, for months.

Euronews · Jul 1

US cooking oil market shrinking due to Ice pressures on Latino households, Mazola owner says

Economic squeeze and anti-immigration raids have hit Hispanic communities, prompting people to shop online and reuse oil

The Guardian - UK · Jul 1

Current price of oil as of July 1, 2026

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

Fortune · Jul 1

Iran Faced The Blockade Of Its Ports During The War. Now It Says It Is Selling Oil Much Higher Than Before.

Iran said it is selling oil at prices that are roughly 20% higher than before the war.

International Business Times · Jul 1

Cotton Rallying on Wednesday Morning

Cotton price action is up 77 to 90 points early on Wednesday morning. Futures found strength to round out June, with contracts 22 to 43 points higher despite USDA reporting more acres than expected on Tuesday. Crude oil was down $0.82/bbl to $69.83. The US dollar index is up $0.118...

Barchart · Jul 1