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The Latest Breaking News from Oil

Crude, LPG supply to India smoothens in May after two glitchy months; LNG supply beats pre-war levels

In May, India's oil and gas imports showed clear signs of recovery after recent setbacks, with crude oil inflows rising, though they have not yet reached the robust numbers seen in February. Natural gas supplies saw a notable upswing, going past pre-war levels.

The Economic Times

Silver down Rs 700/kg, gold opens flat as Mideast tensions, rising oil prices dent sentiment. What should you do?

Gold and silver prices opened lower on the MCX on Wednesday as escalating Middle East tensions pushed crude oil prices higher, raising concerns that persistent inflation could delay interest rate cuts. In the previous session, both precious metals had ended with modest gains, with silver rising 0.13%.

The Economic Times

Video shows moment Hellfire missile cripples tanker bound for Iran's Kharg Island

The United States military disabled the Botswana-flagged oil tanker M/T Lexie in international waters after the vessel allegedly ignored repeated warnings and continued sailing towards Iran's Kharg Island, the US central command said. It also released the video from when a US aircraft struck the ship.

The Times of India

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Iran-US war latest: Israel and Lebanon agree ceasefire as US House votes to limit Trump’s war powers

Representatives from Israel and Lebanon will reconvene in the week of June 22

The Independent UK

Sensex tumbles over 1,100 points, Nifty below 23,200. 6 key factors behind today's D-Street rout

Indian stock markets experienced a significant downturn on Monday, with benchmark indices Sensex and Nifty falling over 1% each. Rising Iran-US tensions, persistent FII selling, and a surge in oil prices contributed to a broad-based selloff, wiping out over Rs 3 lakh crore from market capitalization. IT stocks also saw…

The Economic Times

Petrol, Diesel Price Today (June 3): Check fuel rates in Delhi, Kolkata, Mumbai, Chennai, Gurgaon and other cities

Petrol, Diesel Price Today: Fuel prices across India remained stable on June 3, with no significant changes reported in major metro cities for petrol and diesel. Despite global crude oil fluctuations, oil marketing companies maintained current retail rates, offering commuters temporary relief. CNG prices also saw no hikes, contributing to…

The Economic Times

Rising crude and aluminium prices: Bharat Subramanian on what it means for India's energy and metals sectors

Geopolitical tensions in West Asia are driving up oil and aluminium prices. This benefits upstream oil explorers while squeezing oil marketing companies. Analysts see a potential new commodity upcycle. Aluminium prices are expected to peak next year. China's demand remains a key factor for global commodities. Investors are watching for…

The Economic Times

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Tokyo's Nikkei 225 index tops 68,000 for the 1st time as Wall Street logs more records

Japan's Nikkei 225 index has topped 68,000 in early trading after U.S. stocks pushed further into record territory

The Independent UK

Oil Price Today (June 3): Crude oil nears $100 again as Iran launches attack in fresh escalation. What are experts saying?

Middle East tensions escalated as Iran launched missiles, prompting U.S. strikes and rattling oil markets. Brent and WTI crude prices saw a notable increase. Diplomatic efforts between Tehran and Washington remain stalled, with mixed signals on negotiations. The strategic Strait of Hormuz remains a key focus for traders amid ongoing…

The Economic Times

Gold eases on stronger oil as fresh Mideast hostilities erupt

Gold prices dipped on Wednesday as escalating Middle East tensions fueled crude oil gains, intensifying inflation and interest rate hike concerns. Renewed Gulf hostilities and stalled diplomacy between Washington and Tehran contributed to the market's unease. Investors now await key U.S. employment data to assess the Federal Reserve's next monetary…

The Economic Times

Iran fires missiles and US strikes Iran facility after reports of faltering peace talks

The U.S. military says Iranian missiles fired at Kuwait and Bahrain failed or were shot down, and says the U.S. launched strikes on an Iran facility in response

AAP

Cotton Bulls Fight Back on Tuesday

Cotton futures posted gains of 38 to 73 points in most contracts on Tuesday. The US dollar index was up $0.023 at $99.170. Crude Oil was $1.23 higher to $93.39 The weekly NASS Crop Progress report showed 66% of the US cotton crop planted as of 5/31, 1% below normal....

Barchart

Soybeans Fall on Tuesday, as Traders Look Past Weaker Ratings for Wetter Forecast

Soybeans posted losses of as little as 4 cents in the deferreds, with nearbys own as much as 16 cents. The cmdtyView national average Cash Bean price was down 15 3/4 cents at $11.06 3/4. Soymeal futures were down 30 cents to $3.10 higher, with Soy Oil futures 5 to...

Barchart

Inflation set to top 5% this year amid surge in oil imports

The Bank of Thailand expects headline inflation to peak at 5.2% in October this year, driven by rising oil imports and the government's subsidy measures.

Bangkok Post

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International Business Times UK

'Brace for New Shocks in June' as World Oil Supplies Near a Point of No Return, Analysts Warn

Global oil reserves are depleting rapidly due to the Iran war, with experts warning of severe economic impacts if the Strait of Hormuz remains closed.

The Conversation

Hanson’s gas policy follows the far-right playbook: attack ‘elites’ and push for drilling

New polling this week put One Nation ahead of Labor in the primary vote for the first time, as the party’s latest policy announcements signal greater political ambition.

International Business Times UK

Trump Environmental Policy Threatens Colorado Elk Populations by Handing Thousands of Acres to Oil Drillers

The federal government plans a massive land lease sale in Colorado, risking wildlife habitats and dark sky areas, driven by legislation prioritising fossil fuel extraction over conservation.

The Economic Times

Why are oil prices up today, and will Brent futures and US WTI crude prices continue to rise or decline again? Iran war, Strait of Hormuz disruption and falling oil stockpiles drive market

Why are oil prices up today, and will Brent futures and US WTI crude prices continue to rise or decline again? Oil prices moved higher and reached a one-week high as traders watched developments surrounding Iran and the United States. Concerns over the Strait of Hormuz, lower global oil inventories,…

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Barchart

Crude Oil Prices Rally on US-Iran Peace Uncertainty

July WTI crude oil (CLN26 ) on Tuesday closed up +1.60 (+1.74%), and July RBOB gasoline (RBN26 ) closed up +0.0596 (+1.83%). Crude oil prices settled sharply higher on Tuesday amid uncertainty over when the US and Iran will agree to a peace deal reopening the Strait of Hormuz. Crude...

AAP

BC-OILS

NEW YORK (AP) — Futures trading on the New York Mercantile Exchange Tuesday:

Barchart

Why is Gold Stuck in Neutral?

Gold’s price dropped by over $1,500 per ounce from the late January record high to the March low. In April and May, gold prices have consolidated in an under $470 range. At near $4,500 per ounce, gold is stuck in neutral in early June 2026.

The Economic Times

Would like to end sanctions waivers on Russian oil: Rubio

The United States aims to stop waivers allowing countries to buy Russian oil. These waivers were temporary measures to boost global supply. Secretary of State Marco Rubio stated the waivers are time-limited. The US granted and extended these waivers previously. India has benefited from these sanctions exemptions. The goal is…

Marie Claire

The 10 Best Shimmer Body Oils Guarantee That You’ll Feel Like a Hotter Human

Toned, hydrated, and glowy.

International Business Times

Euro Zone Inflation Climbs To 3.2% As Iran War Keeps Energy Prices Elevated

Rising oil and gas prices linked to the conflict involving Iran continued to drive inflation across the euro area, while price pressures varied significantly among member states.

Barchart

Cotton Extending Bounce on Tuesday

Cotton futures are up 55 to 70 points in most contracts at midday. The US dollar index is up $0.058 at $99.205. Crude Oil is up $1.13 higher to $93.02. The weekly NASS Crop Progress report showed 66% of the US cotton crop planted as of 5/31, 1% below normal....

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