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The Latest Breaking News from Oil

G7 leaders back Trump's plan to end Iran war that faces skepticism at home

Leaders at the Group of Seven summit have backed U.S. President Donald Trump's tentative agreement with Iran to open the Strait of Hormuz and extend a ceasefire

The Independent UK

Rupee closes flat at 94.52 vs USD as oil-led rally faces off against dollar demand; Fed verdict looms

The Indian rupee closed almost flat against the US dollar on Wednesday. Earlier gains were erased as corporate and importer demand for dollars increased. A significant drop in oil prices had initially boosted the rupee. Market focus now shifts to the US Federal Reserve's policy decision. Commentary from the Fed…

The Economic Times

What is in the 14 point interim US-Iran peace deal? Read full text

Leaked details of a tentative US-Iran agreement suggest Tehran would immediately move to reopen the Strait of Hormuz once a ceasefire deal is signed, alongside the ability to resume unrestricted oil exports. The interim accord, expected to be formally signed in Switzerland on Friday, reportedly includes US backing for at…

The Times of India

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Nasdaq Futures Climb as Chip Stocks Rebound Ahead of First Fed Decision Under Warsh

June Nasdaq 100 E-Mini futures (NQM26) are up +0.54% this morning, signaling a rebound from yesterday’s selloff, while investors await the first Federal Reserve rate decision under Kevin Warsh.

Barchart

31 New Comedic Animal Portraits By Alison Friend That Make Pets Look Like Tiny Eccentric Nobles

Animal portraits tend to be charming on their own, but Alison Friend gives them an extra layer of personality. In her paintings, cats, dogs, pigs, and other animals do more than simply pose for the viewer. What makes Alison’s work so instantly recognizable is the way she blends classic oil…

Bored Panda

Iran will reopen Strait of Hormuz and can sell oil freely under deal with US, according to leaks

Iran will immediately take steps to reopen the Strait of Hormuz once a tentative deal with the U.S. to end the war is signed and will be allowed to sell its oil without restrictions

AAP

Japan's Nikkei closes at record high near 70,000 on AI boost

Japan's Nikkei share index hit a new record high for the third day running on Wednesday. The index closed just below the 70,000 mark. Easing Middle East conflict worries and strong buying in AI stocks boosted the market. Investors are also awaiting the US Federal Reserve's policy decision. Oil prices…

The Economic Times

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Australia shares close at two‑month high on Middle East optimism

The Australian stock market experienced a remarkable uplift on Wednesday, reaching a two-month peak, thanks to the impressive performances of mining and banking stocks. Investors breathed a sigh of relief as news of a tentative agreement aimed at resolving the conflict in the Middle East emerged.

The Economic Times

As oil roundtrips, AI booms, and US consumers spend, economists' Fed outlooks hit the extremes

Economists are divided on the U.S. economic outlook, with some predicting rate cuts due to consumer weakness and falling real wages, while others foresee hikes amid strong growth and inflation. Geopolitical tensions, oil price volatility, and AI investment add to the uncertainty. The Federal Reserve faces a complex decision on…

The Economic Times

Man Drives Past Take 5. Then He Sees Something Unexpected: ‘Is That Really A Thing?’

"The fastest oil change on the planet?"

Motor1

World shares are mixed and oil trades below $80 on optimism over interim US-Iran war deal

World shares are mixed and oil is trading below $80 a barrel as investors watch for details on the interim agreement to end the U.S.-Iran war

AAP

Starmer slams Russian warship's ‘reckless’ warning shots in English Channel

The decision by a Russian warship to fire warning shots near a British yacht in the English Channel on Tuesday was "reckless", UK Prime Minister Keir Starmer said Wednesday. The British defence ministry described it as an "isolated incident" with no suspected link to the boarding by British commandos of…

France 24

AI infrastructure and data centre plays could be the next big theme: Atul Suri

Despite negative sentiment and foreign investor selling, Indian equities are showing signs of building a base, with a breakout above 24,500 on the Nifty potentially signaling a move towards new highs. Falling crude oil prices and strong domestic flows provide support, while banking stocks and data center infrastructure are identified…

The Economic Times

Trump vows to reimpose US sanctions on Russian crude 'soon' as truce with Iran takes shape

President Trump announced that the US will soon reimpose sanctions on Russian oil, citing eased global supply concerns due to resumed flows through the Strait of Hormuz after a deal with Iran. This shift in focus allows Washington to concentrate more on the Ukraine war, as G7 leaders discuss further…

The Economic Times

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The Economic Times

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

The global oil market is set for a gradual recovery. The Strait of Hormuz will reopen following a US-Iran agreement. This ends a major oil supply disruption. The International Energy Agency predicts a significant oil surplus by 2027. Millions of barrels of Middle East oil output will return to the…

AAP

Shares mostly advance and oil trades below $80 on optimism over interim US-Iran war deal

Asian shares are mostly higher and oil is trading below $80 a barrel, as markets watch for details on the interim agreement to end the U.S.-Iran war

The Times of India

$300bn private fund, $100bn frozen assets and oil waivers: What Iran actually gets in US peace deal

The US-Iran peace deal offers Tehran a sweeping financial package that includes immediate oil export waivers, a $300 billion private investment fund, and eventual access to more than $100 billion in frozen assets held across multiple countries, according to draft documents and officials familiar with the negotiations.

The Economic Times

Financials in a sweet spot, defence remains a structural bet: Dharmesh Kant

Financial stocks are set to lead a market rally through June and July. Experts see banks and financial institutions benefiting from strong earnings and credit growth. Defence and healthcare are also favoured sectors. Investor sentiment later in the year will depend on the monsoon's progress. Consumption and metals sectors are…

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The Economic Times

Avoid IT, focus on growth: Samir Arora's playbook for next 12 months

Investor optimism is rising on hopes of a US-Iran agreement, potentially easing energy market concerns and geopolitical uncertainty. Helios Capital founder Samir Arora believes peace in West Asia could remove a key market overhang and help control oil prices, with a focus on broader outcomes over deal specifics.

The Economic Times

Lower crude may not mean cheaper fuel immediately: NIPFP economist

Global crude oil prices may fall after Middle East peace efforts. However, fuel prices in India might not decrease immediately. Oil companies face pressure, and lower crude prices could offer them relief. A peace deal would benefit India's economy and potentially strengthen the rupee. India's long-term growth remains strong, driven…

Euronews

G7 leaders agree to increase weapons deliveries for Ukraine, step up pressure on Russian economy

G7 leaders pledge more weapons for Ukraine, including air defence and long-range systems, and signal readiness to tighten sanctions on Russia's oil and gas sector.

The Economic Times

Rupee touches six-week high on oil slump, RBI effect lingers

The Indian rupee strengthened to a six-week high, buoyed by falling Brent crude prices below $80 a barrel and supportive central bank measures. Recent steps to attract dollar inflows, including tax removal on bond investments, have seen significant overseas investor participation. The rupee is expected to continue its upward trend…

AAP

FED:Shares reverse early losses as oil slide continues

BHP and Macquarie Group have both clinched new record highs, while gold stocks continue to rebound as easing geopolitical risks reinvigorate investors.

Euronews

Iranian oil tankers pass US blockade ahead of peace deal signing ceremony

The naval blockade began on 13 April and targeted all vessels entering or departing Iranian ports and coastal areas.

Euronews

Oil falls below $80 as OECD oil reserves drop to lowest level since 1990

Oil prices fell below $80 per barrel as markets grew increasingly confident that the effective closure of the Strait of Hormuz is coming to an end. This comes as strategic oil reserves in advanced economies have fallen to their lowest level since 1990, according to the IEA.

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