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The Latest Breaking News from Oil

The first airstrikes on Iran feel like a lifetime ago; for some, they were

Analysis: Iranian leaders may well look back on this weekend’s peace deal as securing their regime. For NZ and the rest of the world, there’s little to celebrate beyond an end to war, writes Jonathan Milne.

Newsroom.co.nz

6 Bulk Buys That Spoil Before You Can Eat Them

Shopping at a warehouse club is a fantastic way to save money on your monthly household grocery bill. The thrill of finding a deep discount often leads shoppers to buy absolutely everything in bulk sizes. Unfortunately, this strategy backfires when you purchase perishable items that rot long before your family…

Grocery Coupon Guide

Cotton Rallies on Wednesday

Cotton futures closed with Wednesday gains of 115 to 204 points in most contracts. Crude oil was down 17 cents at $75.88. The US dollar index was up $0.981 at $100.26. The Fed left rates unchanged today following their two day meeting. The market will round out the week on...

Barchart

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Trump Says Tentative Iran Deal Avoided 'Economic Catastrophe' As Israel, Democrats Demand Answers

President Donald Trump defended his tentative agreement with Iran at the G7 summit in Évian-les-Bains, France, saying the deal helped avert an "economic catastrophe" that could have hit Americans through soaring oil prices, market turmoil and a prolonged disruption in the Strait of Hormuz.

Latin Times

US stocks sink on worries about a possible hike to interest rates this year by the Federal Reserve

The U.S. stock market sank after nearly half the policymakers at the Federal Reserve indicated they may want to raise interest rates before the end of the year

AAP

US-Iran deal takeaways: reopening the strait of Hormuz, waived oil sanctions and Lebanon

US officials have revealed a preliminary memorandum of understanding between Washington and Tehran to end the costly 110-day conflict

The Guardian - US

US officials say Iran deal calls for diluting uranium at minimum, waiving sanctions, opening strait

A memorandum of understanding to be signed Friday by the United States and Iran calls for Tehran to at minimum dilute its enriched uranium and would waive but not permanently end sanctions on the country

AAP

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Trump Says Global Oil Reserves Would Have Ran Out In 4 Weeks Without Iran Deal

President Donald Trump said on Wednesday that global oil reserves would have ran out in four weeks without a deal with Iran.

International Business Times

Tightness in US Crude Supplies Supports Crude Oil Prices

July WTI crude oil (CLN26 ) on Wednesday closed up +0.74 (+0.97%), and July RBOB gasoline (RBN26 ) closed up +0.0291 (+1.01%). Crude oil and gasoline prices settled higher on Wednesday, with crude recovering from a 3.5-month low. Crude oil prices rose on Wednesday on some technical buying after sharp...

Barchart

Diluting uranium, oil sales: What's in the draft US-Iran deal?

Senior US officials on Wednesday disclosed the contents of a draft memorandum of understanding with Iran, ending days of secrecy ahead of a planned signing ceremony on Friday. The document outlines an immediate ceasefire, steps toward lifting US sanctions, the restoration of commercial shipping and negotiations on Iran’s nuclear programme.

France 24

BC-OILS

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

AAP

UK officials expect Russia to retaliate for seizure of shadow fleet oil tanker

No formal warning issued to captains or ship owners, but industry body says they are exercising greater vigilance

The Guardian - UK

US stocks waver after Fed officials indicate an increase to rates is possible this year

The U.S. stock market is wavering after several officials at the Federal Reserve indicated they may raise interest rates before the end of the year

AAP

Five reforms India needs before the next shock

India faces economic vulnerabilities from external crises. Five reforms are proposed to build resilience. These include reducing gold and crude oil imports, attracting stable foreign capital, curbing tax demands, fixing GST litigation, and boosting R&D investment. Implementing these changes will strengthen India's economic future.

The Economic Times

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AAP

US stocks slip after Fed officials indicate a possible rate hike in 2026

U.S. stocks are slipping after several officials at the Federal Reserve indicated they may raise interest rates before the end of the year

The Economic Times

Senior US officials release text of Iran deal

A draft memorandum of understanding between the US and Iran has been revealed. It includes new standards for uranium enrichment and provisions for Lebanon's territorial integrity. In return, the US will waive some sanctions against Iran. The deal also addresses passage through the Strait of Hormuz and envisions rebuilding funds…

AAP

Iran suggests deal with US may be signed by American and Iranian presidents

The Iranian Foreign Ministry suggested late Wednesday that the deal with the United States could be signed by Presidents Donald Trump and Masoud Pezeshkian

Barchart

Cotton Rallying on Wednesday

Cotton futures are showing 250 to 270 point gains across the front months on Wednesday. Crude oil is up 70 cents at $76.75. The US dollar index is up $0.181 at $99.460. West TX and the panhandle are looking at a drier pattern in the next week with the eastern...

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Barchart

Soybeans Fading USDA Export Sale Confirmation at Wednesday’s Midday

Soybeans are up 2 to 4 cents so far on the Wednesday session, well off the early double digit gains. The cmdtyView national average Cash Bean price is up 2 1/2 cents at $10.77 3/4. Soymeal futures are up 30 to 90 cents, with Soy Oil futures falling another 100...

AAP

Senior US officials dictate memorandum with Iran to journalists

Senior U.S. officials have dictated the memorandum of understanding with Iran to journalists after days of secrecy

The Times of India

Between West Asia crisis and heatwave: Pakistan bikers risk lives to smuggle Iranian fuel

Motorbike riders in Pakistan's Balochistan province are risking extreme heat, armed conflict and deadly accidents to transport smuggled Iranian fuel across the country, as higher oil prices linked to the recent Iran-Israel conflict boost demand for cheaper petrol and diesel.

International Business Times

IEA Slashes 2026 Oil Demand Outlook Despite U.S.-Iran Agreement To Reopen Hormuz Strait

In its latest Oil Market Report, the IEA agency said global oil demand growth has weakened substantially compared to the optimistic forecasts it published at the start of the year.

The Economic Times

US quietly allows waiver on Russian oil to expire

America's Treasury has not extended sanctions waivers on Russian oil. This waiver expired at midnight. President Trump has not confirmed if sanctions will be reimposed. The U.S. previously waived sanctions to help economies during an energy crisis. This could change as Middle Eastern oil becomes available. Trump is observing oil…

The Mary Sue

Trump Is Boasting About a Secret 100-Million-Barrel Oil Operation That Defies Every Known Rule of Naval Logistics

The Strait of Hormuz was once a predictable artery for global energy supplies. Today, it’s a battleground.

The Times of India

'We need help': Pakistani hostages held by Somali pirates issue desperate video plea

Ten Pakistani crew members held hostage by Somali pirates aboard the hijacked oil tanker MT Honour 25 have appealed for urgent government intervention through a newly surfaced video, saying they have been in captivity for 57 days, face severe shortages of food and water, and need immediate help to secure…

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