The Latest Breaking News from Oil

Petrol, Diesel prices today (June 16, 2026): Fuel rates remain unchanged across major Indian cities

Fuel prices held steady on June 16, 2026, providing relief after recent hikes. Global oil prices saw a rebound due to supply concerns and geopolitical tensions. Petrol prices vary across cities due to state taxes. Daily revisions align domestic rates with international markets. Consumers can track prices online.

The Economic Times · Jun 16

Oil Price Today (June 16): Crude oil rebounds after 5% plunge as traders await US-Iran peace deal details. Where are prices headed?

The rebound followed a sharp selloff on Monday, when oil prices tumbled nearly 5% to their lowest closing level since March 4. The decline came after U.S. President Donald Trump announced that a memorandum of understanding had been agreed to end the U.S.-Israeli war with Iran.

The Economic Times · Jun 16

Dollar sways near 10-day lows as attention turns to BOJ and RBA

A preliminary deal to end the Middle East war boosted global risk appetite, sending oil prices down and the U.S. dollar near 10-day lows. Investors now await central bank meetings in Japan and Australia for inflation outlooks, with the Bank of Japan expected to raise rates.

The Economic Times · Jun 16

Is the Iran war just an energy shock - or a turning point?

A potential U.S.-Iran peace deal to reopen the Strait of Hormuz could signal a watershed moment for global energy markets, moving beyond a temporary blip. While immediate relief is expected, the long-term impact hinges on consumer and government behavior shifts towards renewables and EVs, potentially challenging fossil fuel dominance.

The Economic Times · Jun 16

Tories would give Aberdeen oil industry ‘kiss of life’ says Badenoch

The Conservative party leader is visiting the constituency ahead of the by-election on Thursday.

Evening Standard · Jun 15

Cotton Ignores Outside Markets to Close with Monday Strength

Cotton futures posted gains of 35 to 56 points across most contracts on Monday. Crude oil was down $3.72 at the close after the US and Iran came to a peace deal over the weekend, to be signed this Friday. The US dollar index was down $0.285 at $99.460. Monday...

Barchart · Jun 15

Streeting pledges to allow new oil and gas drilling in North Sea to fund cheaper UK energy

IN FULL

The Independent UK · Jun 15

Thai fuel prices to stay high until Q4

Domestic oil prices in Thailand are expected to remain elevated until the final quarter of this year, even though global crude benchmarks have eased and the US is set to sign a peace deal with Iran this Friday to end nearly four months of conflict in the Middle East.

Bangkok Post · Jun 15

Streeting sets out plans to tear up planning rules and net zero policies if he becomes PM

The former health secretary plans to allow more drilling fr poil and gas and centralise decision making on major projects like energy plans and data centres

The Independent UK · Jun 15

The Strait of Hormuz is finally reopening, but energy flows may not get back to normal until next year

“Our working assumption is that ~80% of energy flows will resume by the end of Q3, but a return to ‘normal’ could stretch into 2027.”

Fortune · Jun 15