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The Latest Breaking News from Oil

Baba Vanga fuel price prophecy: Did Bulgarian mystic predict Iran war & rising petrol, diesel, CNG and LPG prices? Here’s what she said

Amidst rising global tensions and concerns over fuel prices, viral claims linking Baba Vanga's alleged 2026 predictions to economic chaos are circulating. However, there is no verified evidence of her specifically foreseeing fuel price hikes. The current anxieties are more a reflection of real-world geopolitical impacts on oil markets than…

The Economic Times

IEA chief warns commercial oil inventories are depleting rapidly, only weeks left

International Energy Agency head Fatih Birol warned that commercial oil inventories are rapidly depleting, with only a few weeks of supply remaining due to the Iran war and Strait of Hormuz closure. Strategic reserve releases have provided temporary relief, but demand is increasing with seasonal shifts. The agency previously forecast…

The Economic Times

India buying Russian oil irrespective of US sanctions waivers, Indian official says

India has consistently purchased Russian oil, irrespective of U.S. sanctions waivers, according to a petroleum ministry official. The decision is driven by commercial sense, with ample crude supply secured. This purchasing strategy remains unaffected by any waiver status.

The Economic Times

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Stocks Set to Open Lower as Oil Rises Amid Iran Impasse, Nvidia Earnings and Fed Minutes Awaited

June S&P 500 E-Mini futures (ESM26) are down -0.41%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.30% this morning, pointing to a lower open on Wall Street as oil prices continue to rise amid the stalemate between the U.S. and Iran.

Barchart

Russia unleashes another aerial barrage on Ukraine as war's long-range strikes escalate

In more than four years of war, Ukraine has built up its own long-range capabilities and has been hitting oil facilities and other targets deep inside Russia.

Euronews

Surging global bond yields, elevated oil deepen rupee's slide to record lows

Elevated energy prices and weak capital flows have left India staring at a third consecutive fiscal year of a deficit in its balance of payments (BoP), straining the rupee. Economists at HSBC have forecast a ⁠BoP deficit ‌of around $65 billion in the fiscal year ending April 2027.

The Economic Times

India's cooking fuel shortage is driving up California's gas prices

India's cooking gas shortage, driven by the Strait of Hormuz closure, forces refiners to cut alkylate production. This directly impacts California's gasoline supply, as alkylates are crucial for its unique blend, leading to higher prices for motorists already facing a global fuel crisis.

The Economic Times

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India Inc's earnings growth to slow down in next 12-18 months, warns Moody’s Ratings. Here’s why

Moody’s Ratings warns that India’s corporate earnings growth may slow over the next 12–18 months due to rising input costs, rupee depreciation, supply-chain disruptions, and labour market uncertainty. The agency also flagged weaker consumption, delayed investments, and sectoral pressures across autos, airlines, metals, and oil marketing companies amid global risks.

The Economic Times

Oil prices rise and bonds wobble as Iran war stokes inflation fears

Trump warning over peace talks drives up crude price as UK gilts hit by uncertainty over Starmer leadership

The Guardian - UK

India can ride out disruption after Russian oil waiver lapses

India's oil refiners are prepared for changes in Russian crude supply. Weaker domestic demand and available oil from the US and Middle East offer alternatives. China's reduced market presence also helps maintain supply. Maintenance at major refiners has increased Russian crude in storage. This provides Indian refiners with more options…

The Economic Times

Market moves driven more by psychology than fundamentals: Samir Arora

Indian stock markets are caught between global worries and strong domestic company profits. Foreign investor activity, oil price swings, and economic news are shaping market mood. Samir Arora of Helios Capital believes current market jitters are more about perception than lasting damage. He notes corporate earnings are exceeding expectations.

The Economic Times

SBI Report: No direct impact of oil price hike on India's fiscal situation

Fuel prices have risen by Rs 3 per litre. This move aims to reduce losses for oil companies. SBI's research report Ecowrap suggests that the impact on consumer inflation will be temporary. Annual fuel consumption is expected to remain stable. The government's fiscal situation is not directly affected by this…

The Economic Times

Trump warns Iran that ‘TIME IS OF THE ESSENCE’ for peace deal

President Donald Trump has warned Iran in a Truth Social post that “TIME IS OF THE ESSENCE” for the country’s leaders to reach a peace agreement and it will face a “very bad time” if a deal is not signed. The warning follows a drone strike that sparked a ⁠fire…

The Independent UK

Macro worries cloud markets, but domestic fundamentals offer cushion: Sandip Sabharwal

Market expert Sandip Sabharwal highlights that despite global headwinds like rising crude oil and currency weakness, Indian corporate fundamentals offer stability. He views the Bharti-Prudential deal positively for FDI and sees potential tactical upside in the IT sector, while cautioning about Vodafone Idea's structural challenges and favoring private banks over…

The Economic Times

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The Economic Times

Strait of Hormuz is now India's biggest market risk, says Ashi Anand

Indian markets await clarity on Strait of Hormuz shipping. Ashi Anand of IME Capital suggests a defensive market approach. Oil prices near $110 per barrel strain India's economy. Fuel price hikes are expected to continue. Pharma and metals sectors show resilience due to specific growth drivers. China-plus-one strategy remains a…

Radio France Internationale

G7 ministers meet in Paris to seek common ground on China and Middle East war

Finance ministers and central bankers from the G7 nations gather on Monday in Paris where they will try and settle differences on everything from the stalemate in Iran, securing supply chains for critical minerals and the oil-price shock. As host, France will try and keep the plates spinning.

The Economic Times

Should petrol, diesel prices go up by Rs 25 per litre? Oil companies are staring at Rs 1,380 crore daily loss

Indian fuel retailers are facing steep under-recoveries despite a recent Rs 3 hike, with analysts estimating losses of Rs 25/litre and daily hits of Rs 1,380 crore for Indian Oil Corporation (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL). Brokerages including Nomura and Elara Capital warn further fuel price hikes…

The Economic Times

Iran war saddles global companies with $25 billion bill and counting

Global companies face significant financial strain due to the U.S.-Israeli war with Iran. Businesses are grappling with escalating oil prices and disrupted supply chains. This conflict has already cost businesses billions, with more impacts expected. Airlines and automakers are among those warning of profit reductions. The situation is affecting industries…

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Euronews

Oil prices climb as Donald Trump signals tougher action on Iran

Oil prices climbed on Monday and European markets opened lower as US President Donald Trump sent a new warning to Iran via social media.

The Economic Times

Ryanair sees peak summer fares flat as Iran uncertainty hits bookings

Ryanair reported its annual profit slightly exceeded expectations, reaching 2.26 billion euros. However, the airline cautioned that economic uncertainty, driven by higher oil prices and inflation fears, is likely to result in flat fare growth during the peak summer months. This outlook impacts the current fiscal year, with potential pressure…

The Independent UK

Trump’s ‘clock is ticking’ Iran warning sends oil prices soaring and global markets tumbling

Asian stocks are mostly lower and oil prices have jumped after U.S. President Donald Trump warned Iran that the “clock is ticking” as talks over a permanent end to the war stall

The Economic Times

If oil stays above $100/ barrel and RBI stops managing volatility, Re would be 102 against dollar: Naveen Mathur

India's foreign exchange reserves have dropped significantly as the Reserve Bank of India intervenes to manage rupee volatility. Surging crude oil prices and foreign investor outflows are pressuring the currency. Analysts suggest the rupee's slide may continue if global conditions do not stabilize. The RBI aims to smooth the rupee's…

The Economic Times

No, the Iran war won’t ground your European holiday flight

A commentary on the US-Iran conflict says European summer flights are unlikely to face major disruptions for now, despite earlier fears over jet fuel shortages. Jet fuel prices had surged after the conflict escalated but have since fallen around 30%, prompting some airlines to reduce fuel surcharges.

The Economic Times

Silver tanks Rs 5,600/kg, gold slips Rs 1,000/10g after drone strike on UAE nuclear plant amid Iran war fears. Time to sell?

Gold and silver prices opened sharply lower on Monday, driven by escalating Middle East tensions that pushed oil prices higher and fueled inflation concerns. This surge in oil prices strengthened expectations that interest rates could remain elevated for longer, impacting bullion markets. Investors are closely watching for further clues on…

The Guardian - UK

Xi prepares to welcome Putin to China four days after hosting Trump

Chinese state media say Beijing emerging as ‘focal point of global diplomacy’ with Russian leader arriving on Tuesday

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