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The Latest Breaking News from Oil

Gold rises 1% as hopes for US-Iran diplomacy pause oil rally

Gold prices gained over 1% as investors tracked diplomatic efforts to ease the US-Iran conflict and assessed the impact on inflation and the Federal Reserve’s rate outlook. Spot gold rose 1.6% to $4,071.59 per ounce, while US gold futures climbed 1.5%. Analysts said bullion is attempting to build a base…

The Economic Times

SC issues notice on Venugopal Dhoot's plea against order upholding separate insolvency for VIL, VOVL

The Supreme Court will hear Venugopal Dhoot's plea against an NCLAT order. This order upheld separate insolvency proceedings for two Videocon group entities. The appellate tribunal had set aside an earlier NCLT order directing clubbing of these cases. Creditors intended the corporate insolvency resolution processes to run independently. This decision…

The Economic Times

Analyst Warns Gas Prices Entered Uncharted Territory Not Seen Even in 2008

Gas prices in the U.S. crossed the $4 threshold again as escalating tensions between Washington and Tehran amid the U.S.- Israel-Iran war cast a shadow of uncertainty over the global crude oil supply chain.

Benzinga

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Choppy oil keeps investors on edge, stocks brace for big earnings week

The short-term focus again was oil prices, which swung sharply as investors weighed Yemen's Iran-aligned Houthis declaring a naval blockade against ‌Saudi Arabia against ⁠Reuters reporting that ⁠mediators had passed Iran a proposal to de-escalate the war with the U.S. Benchmark Brent crude was flat on the day at $88.3…

The Economic Times

Global Market: European shares edge higher as tech, miners lead gains amid earnings focus

European shares saw modest gains on Tuesday, driven by technology and mining sectors. Easing oil prices provided a boost to investor sentiment across the continent. Investors closely watched corporate earnings for geopolitical impact on businesses. Technology stocks advanced significantly, anticipating key US company results later this week. Mining shares also…

The Economic Times

For Ukraine's drones, names are part of the battle

Some intercept drones attack Ukrainian cities, while others strike oil refineries hundreds of kilometres away in Russia. "Liutyi", a deep-strike drone used in recent attacks on Russian oil refineries and displayed at Farnborough, means both "February" -- the month Russia launched its full-scale invasion in 2022 -- and "furious" in…

The Economic Times

Oil prices to hit $120 soon? Goldman Sachs makes big prediction as Hormuz concerns loom

Goldman Sachs has warned Brent crude could spike to $120 per barrel if disruptions through the Strait of Hormuz persist, though its base case assumes easing Middle East tensions and prices averaging $80 in Q4.

The Economic Times

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Oil prices hold near one-month high amid supply fears

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The Independent UK

Oil prices, weak monsoon pose biggest risks to India's FY27 GDP growth, says IMF

India's economic growth faces significant risks from a widening Middle East conflict. Rising oil prices and a potentially weak monsoon pose challenges for the nation. The International Monetary Fund has slightly adjusted its growth forecasts for upcoming years. The Fund will also reassess India's national accounts quality later this year.…

The Economic Times

Rupee firms as oil retreats, traders gauge flow momentum under RBI measures

The Indian rupee strengthened on Tuesday, benefiting from falling oil prices. Optimism over potential mediation in the U.S.-Iran conflict also aided sentiment. Strong inflows tied to the central bank's recent policy measures further supported the currency. These measures have attracted over twenty billion dollars in about a month. Regional Asian…

The Economic Times

Hegseth estimates rising cost of Iran war now at $37.5bn – as it happened

This blog is now closed

The Guardian - AU

UAE to invest $6.2 billion in Abu Dhabi gas project

Abu Dhabi's state oil company ADNOC will invest $6.2 billion in a new gas project. This offshore development is a joint venture with international energy companies. The project aims to produce gas volumes starting from the year 2030. The move aims to expand the UAE's liquefied natural gas platform. It…

The Economic Times

Four Middle Eastern-style dips to make your summer picky bits properly

From smoky muhammara to herb-flecked labneh, Hannah Twiggs shares four Middle Eastern-style dips from Newcastle restaurant Kiln to upgrade your summer picky bits

The Independent UK

Asian shares mostly gain and South Korea and Japan recover some losses from AI stock sell-offs

Asian shares have mostly gained, with markets in South Korea and Japan trading higher after recent declines due to heavy selling of stocks linked to artificial intelligence

The Independent UK

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The Economic Times

Gold prices rise by Rs 1,000/10g, silver up Rs 3,100/kg on hopes of Iran peace talks. Key levels to watch today

Gold and silver prices extended gains for a second straight session on the MCX on Tuesday, supported by renewed U.S.-Iran diplomatic efforts. However, gains were tempered by caution after Yemen's Houthis threatened a naval blockade on Saudi Arabia, fuelling concerns over a fresh spike in crude oil prices.

The Economic Times

$120 crude oil scare is back & India has plenty at stake

Goldman Sachs has warned Brent crude could rise above $120 a barrel if disruptions in the Strait of Hormuz persist. For India, which imports most of its crude oil, a sustained oil price rally could increase the import bill, weaken the rupee, fuel inflation, widen the current account deficit and…

The Economic Times

US and Iran dig in over the Strait of Hormuz, showing the limits of intensifying airstrikes

The United States and Iran are engaged in daily bombings over the Strait of Hormuz. President Trump's strategy of escalating airstrikes faces limitations in influencing Tehran. Diplomacy remains an option, but Iran has refused to yield control of the shipping corridor. Intensifying attacks have collapsed a ceasefire deal and increased…

The Independent UK

Oil prices remain close to one-month high as Yemen announces Red Sea blockade

US conducts 10th night of strikes on Iran despite attempts to secure 10-day ceasefire

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The Economic Times

Global Market: Japan's Nikkei rebounds as bargain buying lifts stocks after sharp weekly selloff

Japan's Nikkei share average advanced on Tuesday, recovering from last week's steep slide. Investors bought beaten-down stocks after a market holiday, boosting the index. Global sentiment remained cautious due to rising oil prices and inflation concerns. Focus now shifts to upcoming second-quarter earnings from major U.S. technology firms. Analysts noted…

The Guardian - AU

Almost 100 troops injured in recent weeks, Pentagon admits, as Iran launches reprisals on US allies

Iran has attacked a tanker in the strait of Hormuz, forcing its crew to abandon the ship, after the US launched a tenth consecutive night of strikes

The Independent UK

Iran-US war latest: Trump threatens to attack nuclear site as Hegseth reveals staggering cost of war

Trump says US forces will target heavily fortified Pickaxe Mountain area 'very heavily'

The Economic Times

Sensex falls 238 points, Nifty closes below 24,200 despite Iran-US mediation efforts

Indian stock markets experienced a decline on Tuesday, with major indices Sensex and Nifty closing lower. Broader markets, however, showed resilience, with midcap and smallcap indices registering gains. Geopolitical mediation efforts between Iran and the US offered some market sentiment support. Oil prices dipped below ninety dollars per barrel following…

The Economic Times

Tanker crew abandons vessel after reported projectile strike in Strait of Hormuz, UKMTO says

A tanker in the Strait of Hormuz reported being struck by an unknown projectile. Its crew abandoned the vessel and boarded a lifeboat, according to UKMTO. Iran's Revolutionary Guards stated two oil tankers caught fire after explosions. Rescue teams are removing crews from the affected area. Tensions have escalated in…

The Economic Times

Petrol, Diesel Prices Today (July 21): Fuel rates in Delhi, Mumbai, Kolkata and Chennai changed as crude oil dips below $90? Check here

Petrol, Diesel Prices Today: Indian fuel prices remained unchanged on Monday, July 21, despite global crude oil falling below ninety dollars. Retail fuel costs are influenced by taxes, freight, and exchange rates, not just crude prices. Oil marketing companies review prices daily, but revisions do not always occur immediately. Consumers…

AAP

Aussie shares trim losses, gold bounces on truce hopes

Rising gold prices have helped support the Australian stock exchange following reports US and Iranian mediators are in talks to secure a new ceasefire.

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