The Latest Breaking News from Oil

Iraq devalues its currency as Iran-U.S. war disrupts oil shipping routes

Iraq has devalued its currency, changing the official exchange rate from 1,300 to 1,500 dinars to the U.S. dollar

The Independent UK · Oct 7

Oil giant threatens to stop UK investment if North Sea drilling is denied

Andy Burnham noted that he would adopt a ‘pragmatic’ approach towards North Sea oil and gas ahead of pending rulings on Jackdaw and Rosebank

The Independent UK · Oct 7

Royal Mail to cut up to 2,500 head office and support jobs by end of next year – as it happened

IMF chief Kristalina Georgieva warns energy shock, public debt and AI boom threaten global growth, as Brent crude rises above $101 a barrel and government bond yields rise

The Guardian - UK · Oct 7

7 easy family dinners to get you through the week – plus a shopping list

BUDGET BITES: From speedy pesto pasta to nacho-topped chicken and cheesy pizzadillas, these seven easy family dinners are designed to take the stress out of busy weeknights – and come with one handy shopping list, writes Hannah Twiggs

The Independent UK · Oct 7

RBI Inflation FY2026-27: Malhotra & Co raises inflation forecast to 5.2% for FY27

RBI Inflation 2026-27 Forecast: The Reserve Bank of India has updated its inflation forecast for FY27 to 5.2% from 5.0% previously. This revision comes as retail inflation exceeds the RBI's target for three consecutive months. The rise in crude oil prices and food costs is a significant contributing factor. Additionally,…

The Economic Times · Oct 7

Texas ranchers blocked well operators from 1,604 acres in 2004; court lets oil firm cross property

In a significant ruling, a Texas appeals court has granted Allegiant Resources the right to enter McFaddin Ranch to seal an inactive well. This decision comes in response to environmental concerns linked to the well’s proximity to the San Antonio River. Earlier access via another ranch was lost, emphasizing the…

The Times of India · Oct 7

Naval drone hits oil tanker off Russian resort city Sochi, triggering massive blaze

Russian officials said a Liberian-flagged tanker was attacked and a crew of 23 Indian nationals rescued

The Guardian - AU · Oct 7

RBI Repo Rate 2026: Malhotra & Co hike repo rate by 25 bps to 5.50% for first time in nearly 4 years as inflation pressures build

Repo Rate Hike: The RBI raised the repo rate by 25 basis points to 5.50%, its first hike in nearly four years, as rising oil prices, a weak monsoon and a weaker rupee threaten to push inflation higher. The move was widely expected by economists.

The Economic Times · Oct 7

India bonds inch lower before pivotal RBI decision

Amid the backdrop of escalating US Treasury yields and surging oil prices, Indian government bond traders are revamping their strategies. The Reserve Bank of India is poised to announce a key policy decision that may affect liquidity and inflation, with a 25-basis-point interest rate hike anticipated. Market sentiment remains cautiously…

The Economic Times · Oct 7

India’s great market disconnect: The economy says steady, but stocks say trouble. Which signal should investors trust?

India's macroeconomic fundamentals indicate strong growth despite the Nifty index losing 13% this year. While industrial production and corporate earnings demonstrate resilience, foreign selling pressures weigh on equities. Upcoming earnings season is crucial as investors assess the impact of input costs on margins. Analysts suggest that the market needs broader…

The Economic Times · Oct 7