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The Latest Breaking News from Oil

Rupee languishes at two-month lows as supply worries raise oil prices

The Indian rupee hit a two-month low on Wednesday amid rising oil prices spurred by worries over Middle Eastern supply disruptions. In an effort to contain the rupee's decline, state-run banks stepped in to sell off dollars. Increased energy prices are forecasted to exacerbate inflationary pressures and expand India's deficit.…

The Economic Times

Current price of oil as of July 22, 2026

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

Fortune

Has Trump dragged the US into a forever war in Iran?

He decried endless wars in Iraq and Afghanistan. Now he may be stuck in one of his own making

The Guardian - US

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Woman Sits In Line For An Hour At Take 5. Then They Say They Don’t Have Her Oil Filter—And Ask Her To Do Something That Shocks Her

"She drives 10k on conventional."

Motor1

Global Market: European shares slip as tech stocks decline ahead of Alphabet, Tesla earnings

European stocks edged lower on Wednesday as technology shares declined ahead of earnings from Alphabet and Tesla, while investors monitored escalating geopolitical tensions in the Middle East. Energy stocks outperformed on higher oil prices, with markets also reacting to corporate earnings from Santander and Hiab.

The Economic Times

Ukraine hits Wildberries warehouses again, citing links to Russia's war effort

Ukraine launched drone strikes on Wildberries warehouses, injuring at least fifteen people. These attacks targeted logistics hubs involved in supplying the Russian army. The strikes also hit an oil depot, causing a blaze and damaging buildings. Wildberries, Russia's largest online retailer, is a critical part of the nation's supply chain.…

The Times of India

Stock Market: Will S&P 500 Open Up or Down Today?

The S&P 500 rallied on Tuesday as strong corporate earnings and a rebound in semiconductor stocks lifted equities. However, Polymarket traders are betting the benchmark index will open lower on Wednesday as rising oil prices and renewed inflation concerns cloud the outlook.

Benzinga

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Norway’s national oil company’s profits double to $11.5bn amid war on Iran

Equinor benefits from decision to increase oil and gas production during strait of Hormuz blockades

The Guardian - UK

Who Pays If E20 Fuel Damages Your Car? Explained

As E20 petrol becomes more common across India, many car owners are asking one important question: Who pays if something goes wrong? While the government says E20 is safe for compatible vehicles, some owners have reported concerns about mileage, wear and tear, and repair costs. This has created confusion over…

MyLifeXP

India's edible oil imports to surge July-October as supplies shrink before festivals

India's edible oil imports will increase from July to October. This rise is due to slower domestic soybean and rapeseed crushing operations. Higher imports are expected to meet demand before the festive season begins. Refiners are actively purchasing palm and soy oil for upcoming shipments. This will support global vegetable…

The Economic Times

Trouble is brewing at Middle East's two key chokepoints

Shipping disruptions are emerging in key Middle East oil transit routes. Concerns are rising as vessels alter voyages due to security risks. The Strait of Hormuz and Red Sea are experiencing reduced vessel traffic. Houthi rebels have threatened a full blockade on Saudi Arabian ports. Despite risks, Saudi oil exports…

The Economic Times

'Iran not serious about talks': Rubio says US open to negotiations, accuses Tehran of not committed to diplomacy

US Secretary of State Marco Rubio stated Washington remains open to talks with Iran. He accused Tehran of not taking diplomacy seriously amid ongoing conflict. Regional mediators proposed a ten-day ceasefire to Iran for renewed negotiations. Iran-backed Houthi rebels threatened Red Sea oil shipments, disrupting tanker routes. US service members…

The Times of India

India bonds slip on oil spike, bargain hunters curb losses

Indian government bonds weakened in early trade as oil prices extended gains. Rising crude prices could widen India's trade deficit and stoke inflationary pressure. Bargain buying and state-run bank bids limited the losses in the domestic bond market. Hopes of a peace deal and RBI foreign exchange measures aided sentiment.…

The Economic Times

Indian refiners halt Iraq oil loadings on rising Hormuz risk

Due to heightened security worries, Indian refiners have paused crude oil loadings from Iraq, with major players like Indian Oil Corp. and Mangalore Refinery suspending operations. The move follows multiple freighters suffering projectile attacks, amplifying shipping hazards in the region. Iraq's oil ministry has acknowledged these delays, and India's shipping…

The Economic Times

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The Guardian - UK

Wednesday briefing: How Trump’s Iran gamble has produced a crisis reshaping the global order

In today’s newsletter: A White House operating without expertise, strategy or restraint is stuck in a conflict with no easy way out, which is sending economic shockwaves far beyond its own borders

The Economic Times

Japan's exports and imports grow as yen weakens

Japan recorded a trade deficit in June, totaling 406.9 billion yen. Higher oil import prices and a weak yen contributed to this deficit. Exports rose nineteen percent, driven by semiconductor shipments to various nations. Imports also gained twenty-five percent, with oil imports from the U.S. surging significantly. This marks the…

The Economic Times

Vedanta Oil & Gas shares fall over 3% after firm discloses two legal matters involving ONGC, GoI

Vedanta Oil & Gas share slipped on Wednesday after the company disclosed two legal matters involving the Directorate General of Hydrocarbons and ONGC. While DGH has sought about $35 million plus interest over OALP blocks, ONGC is pursuing enforcement of a $37 million arbitral award before the Delhi High Court.

The Economic Times

Rupee falls 11 paise to 96.36 against US dollar in early trade

The rupee fell eleven paise to 96.36 against the US dollar on Wednesday. Crude oil prices climbed due to geopolitical tensions and shipping concerns. Investors sought safe-haven assets, increasing demand for the US dollar. Foreign currency inflows are supporting the rupee, while the central bank manages volatility. Domestic equity markets…

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The Independent UK

Asian shares edge higher after Wall Street climb, even as Brent oil keeps rising

Asian shares are trading mostly higher, despite concerns about higher oil prices and inflation

The Economic Times

Hormuz vessel crossings fall further as security concerns linger

The ongoing security issues have caused a notable drop in vessel traffic in the Strait of Hormuz, with just three commodity vessels transiting on Tuesday compared to more the previous day. In a related development, two oil tankers re-routed through the Red Sea following threats from the Iran-aligned Houthis of…

The Economic Times

Why did market fall today? 7 triggers behind Rs 4 lakh crore wealth wipeout

Indian stock markets experienced significant declines on Wednesday. Escalating Iran-US tensions and tariff threats spooked investors, causing major indices to fall. Oil prices surged above $92 per barrel, impacting market sentiment negatively. The Indian rupee also weakened against the US dollar amid global uncertainties. Persistent foreign investor selling further weighed…

The Economic Times

Oil Price Today (July 22): Crude oil crosses $90, hits 2-month high as US strikes enter 11th day. $120 possible, say experts

Brent crude prices crossed the mark of $92 a barrel, rising to the levels last seen in early-June. West Texas Intermediate (WTI), the US crude, is now trading near the mark of $85 a barrel, climbing for the fourth straight session.

The Economic Times

Rupee rebound bets vanish as soaring crude blunts inflows

What makes the Indian currency more vulnerable than some of its Asian peers is the country’s reliance on imported energy and its ripple effect on the broader economy.

The Economic Times

Gold nears two-week high as Fed outlook, Middle East conflict stay in focus

Gold prices climbed to a two-week high amid technical buying and Middle East tensions. Investors await the Federal Reserve meeting for interest rate outlook clues. Oil prices rose over one percent due to shipping disruptions in the Red Sea. Iran's interior minister visited Pakistan seeking continued mediation efforts. Other precious…

The Economic Times

Yen slides past 163, raising intervention alert

The yen is near a four-decade low as the dollar strengthens broadly. Rising oil prices and U.S. Treasury yields are supporting the dollar's safe-haven status. Traders watch for possible Japanese intervention amid the yen's steady decline. The euro and Australian dollar are holding their ground against the dollar. Sterling is…

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