The Latest Breaking News from Oil

Moscow oil refinery struck in Ukraine’s biggest air raid on city since start of war

Kyiv says attack, which also forced evacuation at Russia’s biggest airport, was in response to strike on historic monastery

The Guardian - UK · Jun 18

Asian shares shrug off Wall St blues following signing of US-Iran deal on ending the war

Shares have surged in Asia, with benchmarks in Japan and South Korea setting fresh records, after the U.S. and Iran signed their initial agreement ending the war

AAP · Jun 18

Fuel prices in India won't fall immediately despite global crude slump, MoS Suresh Gopi reveals why

Union Minister Suresh Gopi explained that immediate fuel price reductions aren't possible despite global crude cost drops due to transit times and other factors. He highlighted the central government's Rs 12,000 crore absorption of past impacts, urging states to also contribute.

The Economic Times · Jun 18

Ukrainian drones strike Moscow’s oil refinery again; flames, thick plumes of smoke seen

Moscow's oil refinery in Kapotnya was hit by a Ukrainian drone attack on Thursday, causing visible flames and smoke. This incident follows earlier drone strikes on Russian energy infrastructure, contributing to a growing fuel shortage. Meanwhile, Russia launched its own attacks on Kyiv and Sumy. Ukrainian President Zelenskyy discussed war-ending…

The Times of India · Jun 18

Asian shares shrug off US retreat after initial signing of US-Iran deal on ending the war

Shares have surged in Asia, with benchmarks in Japan and South Korea setting fresh records, after the U.S. and Iran signed their initial agreement ending the war

AAP · Jun 18

US and Iran sign initial deal to end war, ease sanctions and open strait as nuclear talks continue

An initial agreement to end the war between the United States and Iran calls for Tehran to dilute its stockpile of highly enriched uranium and would waive sanctions on the country, immediately allowing Iran to sell its oil freely

AAP · Jun 18

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

President Trump announced a deal with Iran, involving uranium dilution and sanctions waivers, allowing immediate oil sales. Mediated by Pakistan, the agreement aims to reopen the Strait of Hormuz and end hostilities in Lebanon. While hailed by Trump, the memorandum of understanding faces scrutiny and potential future renegotiation.

The Economic Times · Jun 18

Europe explores energy security alternatives after Iran war's turmoil

The Iran war's impact on global fuel prices has pushed Europe to explore alternative trade and energy routes

AAP · Jun 18

Gold recoups losses as oil prices fall on Iran deal

Gold prices saw a significant jump on Thursday, recovering from earlier declines. This surge followed a drop in oil prices. The United States and Iran have signed an interim agreement to end their conflict. This development has influenced market movements. Other precious metals also experienced gains. Investors are watching for…

The Economic Times · Jun 18

Dollar clings to two-month peak as Fed rate-hike bets mount, yen slides

The U.S. dollar reached a two-month high as markets anticipated Federal Reserve rate hikes, pressuring the Japanese yen towards intervention levels. Mounting inflation concerns led nearly half of Fed policymakers to expect a hike this year, with strong retail sales further bolstering hawkish sentiment. Fresh Gulf uncertainties also supported the…

The Economic Times · Jun 18