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The Latest Breaking News from Oil

What Is Iran's 'Hormuz Safe'? The Bitcoin Insurance System for Ships Emerging Amid Gulf Tensions

US President Trump cancels a planned strike on Iran after Gulf allies' appeal, while Iran plans a Bitcoin-backed maritime insurance service to bypass Western financial systems.

International Business Times UK

Petrol prices reach highest level of Iran oil crisis

The average price of a litre of petrol in the UK now stands at 158.5p, according to the RAC.

Evening Standard

Warren Buffett’s Berkshire Hathaway Dumped 16 Stocks in Q1, But the Chevron Sale Was the Largest

Berkshire exited 16 stocks in Q1 under CEO Greg Abel, but its Chevron stock sale stood apart. Despite trimming its stake, Berkshire still appears deeply committed to the energy giant.

Barchart

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A Ship with Donations from Mexico and Uruguay Reached Cuba: What Did it Bring?

A ship carrying humanitarian aid from Mexico and Uruguay docked in Havana on Monday, bringing food and hygiene products to Cuba as the island confronts a worsening economic and energy crisis tied to fuel shortages, aging infrastructure, and renewed U.S. pressure on countries that supply it with oil.

Latin Times

Orcas could be casualty in Carney’s push for pipeline, environmental groups fear

Rush to develop fossil fuel infrastructure in Canada collides with laws meant to protect endangered species

The Guardian - US

Why Emkay is seeing Nifty at 29,000 by March 2027 despite oil shock, West Asia tensions

Emkay Global maintains a bullish outlook on Indian equities, projecting the Nifty could reach 29,000 by March 2027, driven by strong domestic growth, earnings recovery and policy support. The brokerage expects markets to navigate near-term volatility from geopolitical tensions & high crude prices. It also warns of macro risks from…

The Economic Times

What soaring gas prices mean for Texas and how long it could take for costs to come down

Here’s what you should know about the market forces at play and what higher prices mean for oil companies and the state.

The Texas Tribune

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Downside risks to economy have begun materializing as continued West Asia conflict casts shadow over India's trade outlook: Crisil

The escalating conflict in West Asia is emerging as a major risk for India’s economy, threatening trade flows, increasing import costs, and putting pressure on growth. Higher crude oil and transportation expenses are expected to widen India’s current account deficit and push inflation upward as businesses pass on rising costs…

The Economic Times

ICRA lowers India's FY27 GDP growth estimate to 6.2%

Rating agency ICRA has revised India's FY27 GDP growth forecast down to 6.2% from 6.5% due to elevated crude oil prices stemming from the West Asia crisis. For FY26, growth is estimated at 7.5%. Q4 FY26 GDP growth is expected to slow to 7% amid moderating industrial and services sectors,…

The Economic Times

India soymeal exports to fall to four-year low on rising prices

India's soymeal exports are projected to drop by half to a four-year low in the current year, driven by a 47% price surge over the past month. This makes Indian animal feed uncompetitive against South American supplies, prompting Asian buyers to switch. Tight domestic supplies and strong demand are keeping…

The Economic Times

Gold price on Tuesday: Why are silver, gold rates crashing today? What will be likely gold price in June?

Gold rater today: Oil prices fell more than 2 per cent, easing some inflation fears. Gold is considered a hedge against inflation, though higher interest ⁠rates tend to weigh on the non-yielding metal.

The Economic Times

Global shares trade mixed and Kospi falls 3% as oil prices keep swinging

Global shares are mixed as uncertainty about what will happen with the Iran war roils global markets

AAP

Kotak warns of massive fuel under-recoveries despite recent Rs 3/litre price hike

Fuel prices in India could see a significant increase. State-run oil companies may have to raise petrol and diesel rates further if crude oil prices stay high. This is due to ongoing disruptions in the Strait of Hormuz. Even after a recent small hike, refiners face substantial under-recoveries. Further price…

The Economic Times

India's fuel price hike among world's lowest outside Gulf nations: BJP

Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India's fuel price rise remains…

The Economic Times

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The Economic Times

Oil prices crash today: Why is Brent crude down big?

Oil prices on Tuesday: Brent futures for July were down $1.73, or 1.5 per cent, at $110.37 a barrel, while U.S. West Texas Intermediate crude for June delivery, which expires on Tuesday, slipped 63 cents, or 0.60 per cent, to $108.03.

AAP

Shares steady as oil eases on Trump's Iran comments

European stocks have risen and US futures are flat after President Donald Trump's positive claims about US talks with Iran sent crude prices lower.

The Economic Times

The $138 bn buffer: India’s most visible export can rescue the rupee

India is considering a policy push to accelerate overseas deployment of skilled workers as part of a broader strategy to support the rupee and strengthen remittance inflows amid rising external pressures, including a widening current account deficit and higher oil prices. According to the report, the Ministry of External Affairs…

The Economic Times

Economic outlook at risk of further deterioration, OECD says

OECD Secretary General Mathias Cormann stated that the ongoing Middle East conflict is worsening global economic risks, exerting downward pressure on growth and upward pressure on inflation. The organization will revise its economic forecasts next month, acknowledging the immediate challenges posed by rising oil prices to finance officials at a…

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The Economic Times

Rupee plunges for eighth straight session, breaches 96.60 vs USD on rising crude, US yields

The Indian rupee has reached a historic low against the US dollar. This decline is driven by escalating oil prices due to the Iran conflict and higher US Treasury yields. India's trade deficit is widening, and inflation is accelerating. The nation faces challenges in lowering its current account deficit and…

The Economic Times

Lack of foresight, leadership in BJP: Mallikarjun Kharge attacks PM on oil prices, Adani matter

Congress president Mallikarjun Kharge has strongly criticised Prime Minister Narendra Modi regarding recent fuel price increases. Kharge alleged that the government is burdening common citizens while allegedly giving industrialist Gautam Adani a 'free pass'. He also accused the ruling party of lacking foresight and leadership.

The Economic Times

Ukrainian mid-range strikes deal double blow to Russia's war effort

Ukraine's growing drone strength is causing significant problems for Russia's war effort. Medium-range drone attacks are disrupting Russian advances and hitting targets deep behind front lines. This strategy is enabling Ukraine to strike Russian air defenses, logistics, and military facilities. The impact is being felt on Russian oil infrastructure and…

AAP

Asian shares trade mixed and Kospi falls 3% as oil prices keep swinging

Asian shares are mixed as uncertainty about what will happen with the Iran war roils global markets

The Independent UK

India says it will continue to buy Russian oil

IN FULL

AAP

The UAE's image as a Middle Eastern haven is tested by the Iran war

The United Arab Emirates for decades advertised itself as a haven for business in the Middle East

The Economic Times

India’s rising oil imports push trade deficit into risky territory: Crisil

India’s oil trade deficit is expected to widen significantly in FY27 due to rising crude oil prices and weakening petroleum exports, according to a report by Crisil. The report warned that India’s heavy dependence on imported crude could put added pressure on the country’s external finances, with the current account…

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