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The Latest Breaking News from Oil

US announces $15 million bounty targeting Iran army funding mechanisms

The US State Department is offering up to $15 million for information on financial networks linked to Iran's IRGC, targeting its illicit oil trade. This move, part of expanded sanctions, aims to disrupt funding for proxy groups and regional aggression. The US also sanctioned a network involved in selling Iranian…

The Times of India

US State Department offers $15 million bounty for insights on Iran's IRGC funding networks

The US Department of State has announced a reward of up to USD 15 million for key intel that could turn the tide against Iran's Islamic Revolutionary Guard Corps. This strategic initiative focuses on choking off their illicit oil operations and funding channels. Allegations suggest these funds back terrorism and…

The Economic Times

Fire or ice: Why a ceasefire in the Gulf cannot hold

As the specter of renewed conflict between the US and Iran looms, the Strait of Hormuz stands at the center of this brewing storm. A fresh clash could erupt, either plunging the world into a major wartime scenario or extending a tense cold war. The repercussions could be drastic, disrupting…

The Economic Times

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Petrol, diesel price hike in India a matter of time if Middle East conflict persists: RBI Governor Sanjay Malhotra

India faces potential retail fuel price hikes if the Middle East conflict persists. RBI Governor Sanjay Malhotra indicated this possibility due to rising energy import costs and inflation risks. The government has already reduced duties and state refiners are absorbing losses. Prime Minister Modi urged citizens to conserve fuel. Oil…

The Economic Times

Frankenpipelines: Inside Trump's bid to resurrect Keystone XL and stretch Dakota Access north

A patchwork of smaller, connected projects using existing pipe aims to resurrect Keystone XL and extend the Dakota Access Pipeline to Canada.

Fortune

India's vegetable oil imports jump 13 per cent in first half of 2025-26 on palm oil surge

India's vegetable oil imports surged 13 percent to 7.94 million tonnes in the first half of the 2025-26 oil year. Palm oil shipments nearly doubled, boosting overall imports. This rise occurred despite increased cooking oil prices and a depreciating rupee. Stocks of vegetable oil also showed a significant increase, indicating…

The Economic Times

Global oil inventories falling at record pace amid Iran war; US producer price inflation hits four-year high – as it happened

IEA warns that mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace

The Guardian - UK

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HPCL Q4 Results: Net profit jumps 46% YoY to Rs 4,902 crore; Rs 19.25/sh dividend declared

Hindustan Petroleum Corporation Limited (HPCL) reported a significant 46% surge in standalone net profit to Rs 4,902 crore for the fourth quarter of FY26. The oil marketing giant also announced a final dividend of Rs 19.25 per share. Standalone total income saw a 4.5% year-on-year increase to Rs 1.24 lakh…

The Economic Times

Sensex to hit 89,000? Why Morgan Stanley is betting big on India Inc after 6-quarter slowdown

Morgan Stanley has turned more bullish on India, forecasting the BSE Sensex could rise to 89,000 by June 2027, implying around 15% upside from current levels. Strategist Ridham Desai said India is emerging from a six-quarter earnings slowdown into a stronger growth phase after a “mid-cycle” pause.

The Economic Times

The 'Ice-Cold' Bedroom Scent That Instantly Tricks Your Brain Into Feeling Cooler on Humid May Nights

Certain notes instantly relax your mind and body on hot and clammy nights

Homes & Gardens

Diesel crunch leaves Indian truckers stranded in roadside lines

Truckers across India are facing long waits for diesel as private fuel stations have cut sales or raise prices. State-run companies are struggling with demand, leading to shortages. This situation has impacted the movement of goods nationwide. A modest price increase is expected soon, but it may not fully cover…

The Economic Times

Market under pressure: IT stocks face long-term headwinds as oil crisis and AI shift weigh on sentiment: Vinit Bolinjkar

Vinit Bolinjkar of Ventura Securities advises selling IT stocks. He highlights market risks from the Hormuz Strait crisis, foreign investor selling, as well as the global AI shift. Bolinjkar sees pressure on IT revenues and margins. He prefers Vodafone Idea in telecom. The consumer sector shows surprising strength this earnings…

The Economic Times

Why Experts Fear India’s Toughest Economic Phase Yet

A single statement from banker Uday Kotak has suddenly sparked fear across India’s business and financial circles. “The shock is coming,” he warned while speaking about the growing Iran conflict and India’s dangerous dependence on imported oil. At first, it sounded like just another economic caution. But when India’s top…

MyLifeXP

Oil prices fall after three-day rally as Trump heads to China

President says he doesn't think he’ll need Beijing’s help to end the US-Israeli war against Iran

The Independent UK

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Euronews

Heat pump sales soar in Germany as gas boiler sales drop. How does the rest of Europe compare?

More than 28 million heat pumps have been installed across Europe, outselling traditional gas boilers in many nations.

The Guardian - UK

Coconut dal, cheesy pickle toasties, carrot halva cakes: Ravinder Bhogal’s tastes of home – recipes

A three-course, south Asian feast: spicy coconut dal, a cheesy vegetable toastie with a knockout pickle, and a fudgy, spicy halva cake to finish

The Times of India

Saudi Arabia launched secret retaliatory airstrikes on Iran during regional war: Report

Saudi Arabia conducted unpublicized airstrikes on Iran in late March, marking the first direct military action on Iranian soil in retaliation for attacks within the kingdom. This shift in approach followed Iranian strikes on Gulf Cooperation Council states, leading to an informal de-escalation understanding between Riyadh and Tehran.

MarketBeat

B&G Foods Q1 Earnings Call Highlights

B&G Foods (NYSE:BGS) reported a first-quarter loss as divestiture-related charges weighed on results, while management said the company is making progress reshaping its portfolio toward higher-margin businesses and reducing leverage. On the company’s fiscal first-quarter 2026 earnings call, Chief E

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The Economic Times

Sensex rises 50 points, Nifty closes above 23,400 as markets snap 4-session losing streak; metal stocks shine

Indian stock markets ended in the green, with Sensex and Nifty snapping a four-session losing streak. This occurred despite the rupee hitting a fresh lifetime low. Metal stocks surged following a government hike in import duties, while IT stocks saw declines. Midcap and smallcap indices also recorded gains.

The Economic Times

From India to China, a look at what governments worldwide are doing to shield households from rising energy costs

Governments globally are implementing diverse strategies to mitigate soaring energy costs stemming from the U.S.-Israeli war on Iran. Measures include fuel tax adjustments, reserve releases, external financing, subsidies, tax cuts, and energy conservation efforts. Countries are also exploring increased use of domestic resources and alternative energy sources.

The Economic Times

India’s gold import duty hike to 15% may remain for a year, says Senco MD Suvankar Sen

India's higher import duty on gold and silver could impact jewelry demand for a year, Senco MD Suvankar Sen said. Senco Gold predicts volumes may drop 10-15 percent and consumers may opt for lighter jewelry. This move aims to conserve foreign exchange reserves and protect economic stability amid global uncertainty.

The Economic Times

India raises gold import duty back to 15%: What’s behind the move

India has significantly raised import duties on gold, silver, and platinum. This move aims to safeguard the nation's economy and foreign exchange reserves. The government prioritises essential imports like crude oil and fertilisers. This decision reflects a proactive approach to manage external risks.

The Economic Times

Oil Price Today (May 13): Crude oil snaps 3-day fall ahead of Trump’s China visit. What are experts saying?

Oil prices dipped after a three-day climb as investors monitored the fragile Iran ceasefire and an upcoming U.S.-China summit. The Strait of Hormuz remains effectively shut, impacting global supply and raising inflation concerns, with analysts warning of further price surges if disruptions persist.

The Economic Times

Dollar near one-week high as hot U.S. inflation fans Fed hike bets, peace talks stall

Global markets felt the heat as a surprising U.S. inflation surge boosted Treasury yields, weakening the euro and sterling. Rising oil prices, fueled by Middle East tensions, further dampened investor sentiment. The U.S. dollar index held firm, reflecting a cautious risk appetite as equity markets lacked upward momentum. Meanwhile, the…

The Economic Times

Gold steady with US-China summit, MidEast developments in focus

Gold prices remained stable in early Asian trade. Investors are awaiting a key U.S.-China summit in Beijing. Developments in the Middle East conflict are also being closely watched. U.S. President Donald Trump commented on the Iran war. Oil prices saw a dip. U.S. consumer inflation increased. India has raised import…

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