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The Latest Breaking News from Oil

India could face 100% tariffs under proposed US Russia sanctions bill

Many Democrats, some Republicans, and industry trade groups are unhappy about a provision in the long-stalled bill that would let Trump impose steep tariffs on countries that purchase large amounts of Russian oil and gas, or countries that his administration deems to be facilitating sanctions evasion.

The Economic Times

Crude Oil Prices Climb as Global Supplies Are Disrupted

September WTI crude oil (CLU26 ) today is up +1.65 (+1.97%) on Thursday, and September RBOB gasoline (RBU26 ) is down -0.0103 (-0.33%). Crude oil and gasoline prices are mixed today. Crude oil is sharply higher due to threats to global supplies with disruptions in the Strait of Hormuz and...

Barchart

The Latest: Trump announces deal for Hamas to disarm in Gaza, but hurdles and uncertainty remain

Hamas said Friday that it reached an agreement to disarm, a significant move that could help end the war in Gaza — but one that will face many hurdles and could take a long time if ever to achieve

The Independent UK

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India closely monitoring US bill targeting buyers of Russian oil, says MEA

Focusing on national interests, India's energy procurement policy underscores the importance of energy security. With the proposed US sanctions bill against Russian oil importers on the radar, New Delhi is attentive to safeguarding its energy supplies. The country is dedicated to achieving reliable and affordable energy through diverse sourcing avenues…

The Economic Times

Russia hits Ukraine military cargo vessel near Odesa as Kyiv targets oil refinery

Russia claimed striking a vessel near Odesa carrying military cargo. Ukraine reported hitting Russia's Volgograd oil refinery and port infrastructure. Both nations are increasingly targeting logistics and supply chains. This escalation highlights the Black Sea's crucial role in the ongoing conflict. Ukraine also continues its campaign against Russian logistics targets.

The Times of India

A heat pump could soon be cheaper than replacing your oil boiler – an expert explains

A £9,000 grant could make replacing an oil boiler with a heat pump cheaper than installing another oil-fired system

The Independent UK

Dollar Gains on Strength in US Economic Reports and Hawkish Logan

The dollar index (DXY00 ) is up by +0.46% today. The dollar is moving higher today, rebounding from Thursday's 6-week low. Higher T-note yields today have strengthened the dollar's interest rate differentials. T-note yields rose today on stronger-than-expected US economic news, including the Q2 employment cost index, the Jul MNI...

Barchart

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Oil Companies See Record Profits In Q2. Exxon Mobil And Chevron Are Among Those Benefiting From Iran War

U.S. oil and gas companies have seen profits soar, largely a result from disruptions related to the Iran war.

International Business Times

Occidental Petroleum Stock Outlook: Is Wall Street Bullish or Bearish?

Despite Occidental Petroleum's outperformance relative to the S&P 500 Index over the past year, Wall Street analysts remain cautiously optimistic about the stock’s prospects.

Barchart

Clashes Between The U.S. And Iran Continue Around The Strait Of Hormuz. Oil Is Climbing Again

Oil is climbing on Friday as hostilities between the U.S. and Iran continue.

International Business Times

House Committee Investigates Fate of $13 Billion in Venezuelan Oil Revenue

An executive order signed by Trump states that the oil revenues remain the sovereign property of Venezuela and are held by the United States in a custodial capacity

Latin Times

Cotton Extending Rally to Friday Morning

Cotton price action is up another 89 to 125 points across most contracts on Thursday. Futures were 81 to 139 points in the green at Thursday’s close. Crude oil was back down just 50 cents per barrel, with the US dollar index falling 0.914. Export Sales data showed 29,719 RB...

Barchart

Exxon Mobil Misses Profit Mark After Refinery Maintenance Blunts Oil Price Windfall

Exxon Mobil Corp. (NYSE:XOM) stock edged lower in Friday’s premarket session after the oil major reported mixed second-quarter results, with revenue topping Wall Street estimates.

Benzinga

India bonds log first monthly loss in four as surging oil, Treasury yields sting

In July, Indian government bonds faced their first monthly loss after a four-month streak of gains. The surge in oil prices and rising U.S. Treasury yields led to a drop in bond prices, prompting foreign investors to sell off their holdings as the month concluded. Attention now shifts to the…

The Economic Times

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Evening Standard

Swinney urges Burnham to scrap windfall tax after BP announcement

BP announced it had put its North Sea operations up for sale on Friday.

The National (Scotland)

John Swinney says UK windfall tax 'hurting Scotland' amid BP sell-off

JOHN Swinney has called on the Labour UK Government to ditch the Energy Profits Levy that is "hurting Scotland" after BP announced it…

The Economic Times

Union Cabinet approves Samudra Manthan scheme, Rs 84,084 crore push for deepwater oil and gas exploration

The Union Cabinet has approved the Samudra Manthan mission with a financial outlay of Rs 84,084 crore, aimed at boosting deepwater and ultra-deepwater oil and gas exploration in India.

Fortune

Current price of oil as of July 31, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

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The Economic Times

Rupee posts strongest week since March on RBI support

The Indian rupee finished Friday on a strong note, marking its most significant weekly increase since March, thanks to continuous support from the central bank amidst a weakening dollar. Heightened tensions in the Middle East have driven oil prices upward, influencing the rupee's monthly trends. Likewise, India's IT sector demonstrated…

Benzinga

Robert Reich Says Americans Are 'Getting Charged Twice' as Trump's Iran War Raises Gas Prices, Boosts Big Oil Profits

Economist Robert Reich says the ongoing Iran war, which has induced sharp hikes in gas prices across the U.S., has handed a boost to the oil industry’s profits, slamming President Donald Trump‘s pro-oil stance.

Marie Claire

Not to Brag, But I’ve Perfected My Fine Hair Routine for Summer to Boost Volume and Minimize Frizz

Summer weather, you've met your match.

The Independent UK

Petrol prices set to surge to new high since Iran war began

IN FULL

Evening Standard

SNP calls for ‘decisive action’ as BP reveals plan to sell North Sea operations

The energy giant has said its North Sea operations would be ‘better positioned as part of another company’.

The National (Scotland)

Climate experts react to Andy Burnham's North Sea oil plan

Climate experts have reacted to Andy Burnham's pledge to take a 'pragmatic' approach to drilling in the North Sea

The Economic Times

Global Market: European shares hit record high as tech rally, earnings lift sentiment

European shares hit a record high on Friday as a rally in technology stocks, easing crude oil prices and upbeat corporate earnings lifted investor sentiment, helping the STOXX 600 extend its winning streak despite recent central bank decisions and geopolitical tensions.

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