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The Latest Breaking News from Oil

Iran's supreme leader warns of 'unforgettable lessons' if US continues attacks

Iran's supreme leader issued stern warnings after the United States conducted further strikes. Tehran announced it is suspending commitments to a recently signed interim deal. Kuwait reported significant damage to its water and oil facilities from Iranian attacks. US airstrikes targeted infrastructure in Iran's southern Hormozgan province. Both nations continue…

The Economic Times

US Airstrikes Trigger Iran Freeze on MoU Deal; Kuwait Oil Site Hit

Iran has suspended its commitments in the US-Iran Memorandum of Understanding (MoU) that was reached last month, the semi-official Fars News Agency reported, citing the country’s Deputy Foreign Minister Kazem Gharibabadi.

Benzinga

Iran says it is suspending commitments to interim deal with US as they exchange attacks

The United States and Iran exchanged strikes on infrastructure and military targets. Iran suspended its commitments under the interim deal with the U.S. Kuwait saw significant damage to a desalination plant and an oil facility. U.S. airstrikes also hit electricity and desalination plants in Iran. The conflict intensified over control…

The Economic Times

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Man goes to garage for $50 oil change for Hyundai sedan, ends up leaving with a $375 bill: ‘assume everyone who drives in here has no common sense”

Not in this economy.

We Got This Covered

Kuwait Halts All Flights After Iranian Attacks; Oil Prices Spike as Regional Escalation Intensifies

Kuwait halted all flights on Saturday after Iran launched one of its heaviest barrages of missiles and drones since the Middle East conflict began.

Benzinga

Iraq And Syria Have Signed A Deal To Restore A Major Oil Pipeline. It Would Create An Alternative To The Strait Of Hormuz.

The proposed project would restore the pipeline connecting the oil-rich city of Kirkuk in northern Iraq with Syria's Mediterranean coast.

International Business Times

US-Iran fighting escalates with infrastructure targeted

Iran on Saturday struck infrastructure in the Gulf and threatened a "full-scale offensive" in retaliation for the seventh consecutive night of US strikes on the Islamic republic.

Radio France Internationale

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Burnham tipped to announce new North Sea oil drilling plans

Allies of the new Labour leader have said he intends to make a ‘dynamic’ start to his premiership on Monday when he formally takes over from Sir Keir Starmer

Evening Standard

Cuba edges toward breakdown as power cuts and US meddling push society to brink

As Cuba swelters under six-month oil blockade imposed by US, tempers are fraying and unrest is growing

The Guardian - UK

Burnham risks Labour backlash if he reverses ban on new oil and gas drilling

Party manifesto pledged to honour existing North Sea exploration licences but not issue new ones

The Guardian - UK

Andy Burnham considers radical shake-up to cut energy bills

Labour leader examining proposals to overhaul gas standing charges and make heat pumps cheaper to run than boilers

The Guardian - UK

Andy Burnham urged to stick to Labour manifesto on North Sea oil

Labour’s 2024 manifesto, which Mr Burnham has promised to honour, said the party would not issue new North Sea licences.

Evening Standard

7 killed as Ukrainian drones hit Russian warehouses, oil depot near Moscow

Seven people were killed and 51 others wounded in a wave of Ukrainian drone attacks across Russia overnight, Russian officials said on Saturday. The strikes hit two warehouses belonging to Wildberries, Russia's largest online retailer, as well as an oil depot and a residential building. Ukrainian President Volodymyr Zelenskiy confirmed…

The Times of India

US and Iran exchange strikes as they struggle over Strait of Hormuz

The United States and Iran have exchanged strikes aimed at infrastructure and military targets as their battle over the Strait of Hormuz intensifies

The Independent UK

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The Guardian - US

Why is Trump risking midterm disaster by resuming the unpopular Iran war?

Less than a month after hailing a ceasefire, Trump resumed strikes on Iran, a move experts warn could prolong the war and hurt Republicans before the midterms

The Independent UK

Starving and stranded in a war zone: The sailors living in fear of death in the Strait of Hormuz

IN FOCUS: Iran has stepped up attacks on ships in the waterway, leading to the collapse of an interim US peace deal. The crisis is leaving seafarers spending months without food, medication and wages, Maira Butt reports

Fortune

Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran

The global energy trade is likely changed forever by the outcome of the Iran war.

The Economic Times

US warns Americans to reconsider Middle East travel amid rising tensions

The United States issued a travel warning for the Middle East due to escalating regional tensions. Escalating hostilities between the United States and Iran involved fresh military strikes. Fighting intensified over the Strait of Hormuz, impacting global oil prices significantly. Kuwait and Bahrain reported missile and drone interceptions amid the…

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The Economic Times

Longer-dated yields lower after data, on track for weekly decline

Longer-dated U.S. Treasury yields declined on Friday after recent economic data. Markets largely priced out a Federal Reserve rate hike for this month. Import prices increased unexpectedly, while consumer and producer prices showed moderation. Geopolitical worries and hawkish Fed comments added to market uncertainty. Bond yields moved lower, suggesting a…

The Economic Times

Oil settles up on renewed US-Iran hostilities and threat of Red Sea closure

Oil prices climbed significantly on Friday, reaching their highest point in over a month. Escalating hostilities between the United States and Iran intensified attacks across the Gulf region. Shipping routes face potential closure, impacting global oil flows and prices. Saudi Arabia has redirected significant crude exports to avoid the Strait…

The Economic Times

Pakistan to revise oil prices daily amid renewed West Asia tensions

Pakistan fuel price: Pakistan will now adjust petroleum prices daily to manage oil price fluctuations. The government aims for greater transparency in fuel pricing decisions. This move follows criticism regarding delays in passing on lower fuel costs. Turkish Petroleum will begin oil and gas extraction in Pakistan soon. Petrol pump…

The Economic Times

Tech selloff weighs on European shares ahead of ECB meeting next week

European stocks edged lower Friday, influenced by a global tech sell-off and Middle East tensions. Investors await the European Central Bank meeting and corporate earnings reports next week. Rising oil prices and subdued reactions to strong results complicated the market backdrop. Tech stocks experienced a significant decline this week, impacting…

Benzinga

Iraq, Syria Revive Oil Pipeline Shut Since 2003 in Bid to Bypass Strait of Hormuz After Iran War Disrupts Exports

On Friday, Iraq and Syria agreed to revive a long-idled oil pipeline linking northern Iraq to Syria’s Mediterranean coast as Baghdad looks to reduce its reliance on the Strait of Hormuz following disruptions caused by the recent U.S.-Iran conflict.

France 24

No fuel, no patience: Russians endure fuel shortages

Russian couple Yelena and Dmitry passed four petrol stations before finally finding one that actually had fuel as they returned to the city of Vologda, some 300 miles (480 kilometres) north of Moscow, from their country allotment plot.

Times Life

5 Monsoon Hair Problems for Indian Curly and Wavy Textures and How to Fix Each One

Frizz That No Amount of Serum FixesThe frizz you get in June and July is not the same as winter dryness frizz. Monsoon frizz is caused by excess humidity forcing water molecules into the hair shaft faster than the cuticle can regulate. Curly and wavy hair has a raised cuticle…

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