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The Latest Breaking News from Oil

Rupee hits record low near 97 vs USD on oil, US Treasury yield strain

The Indian rupee hit a record low against the dollar as elevated oil prices, driven by stalled U.S.-Iran peace talks, fueled fears of further central bank rate hikes. The currency's decline has been exacerbated by weak capital flows and rising bond yields, raising concerns about India's balance of payments deficit.

The Economic Times

Why India And UAE Are Building A Hidden Super Corridor

The world is entering one of its most unstable and unpredictable periods in decades. Wars are intensifying across the Middle East, global shipping routes remain under threat, and even a single attack near the Strait of Hormuz can shake fuel prices and economies worldwide within hours. As many nations struggle…

MyLifeXP

Bond yields pause, stocks steady before Nvidia results

US bond yields have held steady near recent highs as the Iran war continues to fuel inflation fears, while global share markets await Nvidia results.

AAP

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Oil Price Today (May 20): Crude oil dips for second day as Trump says Iran war could end ‘very quickly’. Is the worst behind?

Oil prices dipped for a second day as President Trump suggested a swift end to the Iran conflict. However, market caution persists due to ongoing peace negotiation uncertainties and Middle East supply disruptions. Experts warn prices will remain elevated due to potential renewed strikes and slow supply recovery.

The Economic Times

Oil prices ease after Trump says US will end Iran war 'very quickly'

Oil prices dipped as President Trump suggested a swift end to the Iran conflict, yet market jitters persist. Peace talks face uncertainty, with supply disruptions in the Middle East continuing. Analysts warn of sustained high prices due to potential renewed attacks and slow supply recovery, even if a deal is…

The Economic Times

Bears tighten grip on D-Street as GIFT Nifty hints at weak start

The Nifty fifty closed marginally lower at 23,618 on Tuesday, with broader markets outperforming. Analysts anticipate a sideways to under pressure market in the near term due to a weak Indian rupee and elevated crude oil prices, despite FIIs turning net buyers.

The Economic Times

Will end war 'very quickly' as Iran wants to make deal 'so badly': US President Trump says 'oil prices to plummet'

US President Donald Trump said Iran wanted a deal “so badly” and claimed the conflict would end “very quickly,” while also predicting global oil prices would fall sharply due to ample supply. His remarks came as the US Senate passed a resolution seeking to limit Trump’s war powers in Iran.

The Economic Times

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UK allows diesel and jet fuel imports from Russian crude via sanctions carve-out

Britain will allow imports of diesel and jet fuel refined in other countries from Russian crude oil, creating a sanctions exemption aimed at easing soaring fuel prices caused by Middle East conflict and disruptions around the Strait of Hormuz.

The Economic Times

Ukraine war briefing: Britain to buy diesel and jet fuel made from Russian crude oil

Exemption for Russian oil refined elsewhere then sold on; funeral in Kyiv for two of Russian bombing’s young victims. What we know on day 1,547

The Guardian - AU

Cotton Falls Lower on Turnaround Tuesday

Cotton futures posted a correction Tuesday, with contracts down 10 to 137 points across the board. The US dollar index was $0.150 higher at $99.255. Crude oil was up $0.07 at $103.59 on the day. NASS Crop Progress data showed 41% of the US cotton crop planted as of May...

Barchart

UN lowers forecast for global economic growth in 2026 over Mideast energy crisis

The United Nations has lowered its forecast for global economic growth and raised the prospects for inflation in response to Middle East crises and rising oil prices

The Independent UK

US stocks today: US stocks slip as inflation worries push Treasury yields higher

Wall Street closed lower as rising U.S. Treasury yields and persistent inflation fears pressured equities, with the Nasdaq leading losses. Elevated oil prices amid Iran tensions and uncertainty over Federal Reserve policy weighed on sentiment, while investors stayed cautious ahead of Nvidia earnings, seen as critical for sustaining AI-driven market…

The Economic Times

MPs reject Tory bid to issue new North Sea oil and gas licences

A BID to permit licences to explore new oil and gas fields has been rejected by MPs

The National (Scotland)

What India’s new E22 to E30 Petrol variants mean for fuel prices, vehicles and ethanol use

India has launched new fuel standards for petrol with higher ethanol content, including E22, E25, E27, and E30. This move supports the nation's ethanol blending program. The Bureau of Indian Standards announced the new specification, IS 19850:2026. This development follows the successful E20 program and aims to reduce oil imports,…

The Economic Times

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The Economic Times

Why are oil prices down today and will Brent, US WTI crude futures continue to drop or rise again? Oil settles lower after Iran talks progress

Why are oil prices down today and will Brent, US WTI crude futures continue to drop or rise again? Oil prices fell after the United States said talks with Iran showed progress and military action was paused. Brent and WTI futures dropped after recent highs. Supply risks in the Middle…

Barchart

Crude Oil Prices Slip on Diplomatic Hopes to End Iran War

June WTI crude oil (CLM26 ) on Tuesday closed down -0.89 (-0.82%), and June RBOB gasoline (RBM26 ) closed down -0.0645 (-1.72%). Crude oil and gasoline prices retreated on Tuesday after the dollar index ($DXY ) jumped to a 6-week high. Crude prices also moved lower after President Trump late...

AAP

BC-OILS

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

Barchart

What is Backwardation in the Crude Oil Futures Market Telling Us?

Crude oil remains in focus after events in the Middle East caused its price to double. Crude oil prices have declined from their recent high, but the jury is still out on whether they are heading for a new record high or will return to the 2025 levels at around…

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The Texas Tribune

Election for oil regulator becomes battleground for wealthy donors

In the GOP runoff for Texas Railroad commissioner, billionaires, big oil companies and trade groups flood the campaign pockets of candidates Jim Wright and Bo French.

Evening Standard

MPs reject Tory bid to issue new oil and gas licences

In the King’s Speech, the Government reiterated its manifesto commitment not to issue new licences to explore new fields.

The Guardian - UK

Trump threatens ‘a big hit’ if Tehran does not make deal soon

Renewed threat comes after US president said he was ‘an hour away’ from ordering a strike before pulling back

Barchart

Soybeans Posting Tuesday Gains

Soybeans are showing fractional to 5 cent gains at midday, with new crop leading the charge. The cmdtyView national average Cash Bean price is up 3/4 cents at $11.50 3/4. Soymeal futures are down 80 cents to $1.30, with Soy Oil futures steady to 12 points higher. The weekly Crop...

Barchart

Cotton Fading Lower on Tuesday

Cotton futures are trading with 69 to 136 point losses across the front months on Tuesday. The US dollar index is $0.110 higher at $99.215. Crude oil is down $0.57 at $103.81 on the day. NASS Crop Progress data showed 41% of the US cotton crop planted as of May...

Euronews

Gulf states talk Trump out of Iran strikes in a show of regional influence

Trump said he suspended imminent US military strikes on Iran “for two or three days” after the Gulf states intervened to gain more time due to ongoing negotiations and concerns over Iranian retaliation, with Qatar stating that Gulf leaders are united in trying to avoid a resumption of the war.

The Economic Times

Putin lands in China for trip that aims to show unshakeable ties after Trump pomp

Russian President Vladimir Putin arrived in Beijing late on Tuesday for talks with his Chinese counterpart and "long-time good friend" Xi Jinping, intending to show their ties are unshakeable days after a visit by Donald Trump. - 'Dear, old friends' - Xi welcomed Putin with open arms as an "old…

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