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The Latest Breaking News from Oil

BPCL, HPCL, IOCL shares rally up to 4% as oil prices hit two-month low. What are experts saying?

Indian oil marketing stocks surged as crude oil prices dropped to a two-month low amid reports of a potential US-Iran peace deal. HPCL, IOCL, and BPCL shares gained significantly on Friday. Experts, however, caution that full oil market normalization could take years even if a deal is reached.

The Economic Times

Australian shares rally as traders bet on peace deal

The ASX has enjoyed its best day since April as markets bet once more on hopes for a breakthrough in US-Iran peace talks, sending oil prices to two-month lows.

AAP

Hormuz oil traffic rebounds as Gulf exporters find workarounds: Report

Oil shipments through the Strait of Hormuz are increasing for non-Iranian producers. This surge occurs despite ongoing tensions between Washington and Tehran. Iranian oil exports have significantly decreased. This situation impacts global oil prices. Traders are closely watching future transits. The US continues actions against vessels approaching Iranian ports.

The Economic Times

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Trump’s Kharg threat, reversal show Iran war high-wire act

President Donald Trump considered capturing Kharg Island, Iran's main oil export terminal. This move would have severely impacted Iran's economy. However, Trump later withdrew the threat as negotiations advanced. The island remains a significant point of leverage in the ongoing conflict. Seizing Kharg would have marked a major escalation.

The Economic Times

Govt restricts bulk industrial petrol, diesel purchases through petrol pumps

Industrial and commercial users can no longer buy petrol and diesel from petrol pumps. They must now get fuel from bulk sale points. This change follows a surge in demand for diesel. The government aims to ensure fair distribution for all consumers. Restrictions are in place for up to 90…

The Economic Times

Inflation just hit 4.2 percent — the highest in 3 years. Donald Trump responds with a secret claim about removing millions of barrels of Iranian oil

The President said the US is in control of the Strait of Hormuz.

We Got This Covered

Iran says no final decision made on deal that Trump hopes could be signed soon

President Trump announced a potential peace deal with Iran, aiming to reopen the Strait of Hormuz to shipping this weekend. While Trump claimed a "great settlement" and Iran's approval, Iranian officials stated no final decision has been reached, with negotiations ongoing on key issues and "red lines" remaining firm.

The Economic Times

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Oil Price Today (June 12): Crude oil hits 2-month low as Trump halts strikes on Iran. Where is liquid gold headed?

Oil prices dropped to a two-month low as President Trump called off planned military strikes on Iran, easing geopolitical tensions. Brent crude futures fell to $89.17 a barrel, and WTI crude dropped to $86.48. Despite Iran's earlier threats to close the Strait of Hormuz, commercial vessels continued to transit the…

The Economic Times

Refiners adjust sourcing as war rattles markets

Thailand's major oil refineries continue to operate smoothly and supply the nation with refined oil despite escalating conflict in the Middle East, according to the Federation of Thai Industries' Petroleum Refining Industry Club.

Bangkok Post

US 'specifically' asked India to buy Russian oil in 2022, says EAM Jaishankar

India's External Affairs Minister S. Jaishankar stated India purchased Russian oil after the Ukraine war began in 2022. He explained the oil was available and affordable. The United States had specifically requested India continue buying Russian crude. This action aimed to stabilize global energy markets. India's decision was driven by…

The Economic Times

Asian stocks rally on Gulf breakthrough hopes, oil hits two-month lows

Asian stocks rallied on hopes of a Middle East peace deal, tempering inflation fears as oil prices fell to two-month lows. The market also anticipated Elon Musk's SpaceX IPO, which set a record $75 billion. President Trump indicated a potential peace deal signing soon, boosting market sentiment.

The Economic Times

Trump cancels Iran strikes, touts imminent deal

WASHINGTON (UNITED STATES) - US President Donald Trump withdrew his threat of further strikes against Iran on Thursday and said a deal with Tehran to end the war could be signed in coming days.

Bangkok Post

Cotton Rallies as USDA Cuts Carryout

Cotton futures posted gains of 13 to 139 points across the board on Thursday, led by the front months. Crude oil was down $3.61 to $86.42/barrel after President Trump announced late in the day that there was a deal between the US and Iran. The US dollar index was down...

Barchart

Soybeans Face Thursday Weakness, as USDA Hikes Argentina Production

Soybeans closed Thursday with fractional to 8 cent losses. The cmdtyView national average Cash Bean price was down 7 3/4 cents at $10.61 1/2. Soymeal futures were mixed, down $1.00 to $1.80 higher on the day, with Soy Oil futures 65 to 88 points lower. USDA updated their weekly Export...

Barchart

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France 24

Trump says Iran peace deal is near after threatening new strikes

US President Donald Trump said Thursday he had halted plans for new military strikes on Iran, claiming negotiators were close to extending a fragile ceasefire. Hours before, he threatened to intensify the conflict by targeting Iran’s oil industry.

Bangkok Post

Gold dips amid renewed Mideast conflict

Renewed hostility between the US and Iran, which has caused oil prices to remain elevated longer than expected, has triggered a fresh downturn in gold prices, potentially dipping to US$3,500-3,600 an ounce or 60,000 baht per baht-weight domestically, says Kritcharat Hirunyasiri, chairman of MTS Gold.

Evening Standard

OPINION - The Strait we ignore may be the one that hurts Britain most

Yet again the Strait of Hormuz dominates headlines as the on-off peace talks grind on with no clear end in sight. President Trump still shouts about it in full caps on Truth Social. Television producers still show on repeat the same map: Iran on one side, Oman on the other.…

AAP

Trump calls off latest threats to strike Iran, cites breakthrough in talks to end the war

U.S. President Donald Trump has called off new military strikes on Iran, hours after threatening to escalate the war

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Barchart

Stocks Settle Sharply Higher on Middle East Peace Hopes

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +1.75%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +1.86%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +3.29%. June E-mini S&P futures (ESM26 ) rose +1.73%, and June E-mini Nasdaq futures...

AAP

How major US stock indexes fared Thursday 6/11/2026

U.S. stocks rallied to their best day in two months, and oil prices fell after President Donald Trump called off his threat to bomb Iran in the evening

AAP

US stocks jump to their best day in 2 months on hopes for a deal to get crude flowing globally again

U.S. stocks rallied to their best day in two months, and oil prices fell after President Donald Trump called off his threat to bomb Iran in the evening

The Independent UK

US imposes sanctions on Cuba’s state oil company in latest pressure campaign

The announcement comes almost a week after the U.S. government sanctioned Cuban President Miguel Díaz-Canel

AAP

US stocks jump, and oil prices ease on hopes for a deal to get crude flowing globally again

U.S. stocks rallied to their best day in two months, and oil prices fell after President Donald Trump called off his threat to bomb Iran in the evening

The Economic Times

US stocks: Dow soars 900 pts, Nasdaq over 2% as Trump says Iran deal likely soon

Wall Street surged Thursday as President Trump called off Iran strikes, easing oil prices and boosting stocks. Investors anticipate SpaceX's record-breaking IPO today, with shares set to debut Friday. Despite inflation concerns from producer price data, the market showed resilience, with major indexes posting significant gains. The Fed is expected…

The Economic Times

In new crude world order, US is largest exporter of crude

America's ascendancy to the top spot marks a stunning reversal for a country that was dependent on West Asian oil for decades and suffered from an oil embargo imposed by some OPEC members in 1973 to retaliate against US support for Israel. US fortunes began to change after 2010, when…

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