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The Latest Breaking News from Oil

Trump Abandons 20% Strait of Hormuz Fee, Says Gulf States Will Make 'Record' Investments in the US as CENTCOM Reaffirms Naval Blockade

President Donald Trump has abandoned the idea of imposing a 20% fee on all vessels traveling through the Strait of Hormuz after floating the idea on Monday, demanding compensation in exchange for safe passage through the waterway.

Benzinga

Crude shipments from Saudi Arabia's Yanbu port near maximum levels amid Houthi tensions

Saudi Arabia is maximizing oil exports through its Yanbu port this week. Increased loadings at Yanbu reflect rising tensions with Yemen's Houthi militia. The kingdom is also considering pipeline expansion to bypass the Strait of Hormuz. Shipments from Yanbu have averaged over four million barrels daily recently. Concerns exist that…

The Economic Times

Why Poland Thinks Only Modi Can Influence Putin

In global politics, very few leaders can speak to both sides of a conflict without being seen as biased. That is exactly why Poland's Deputy Foreign Minister has placed Prime Minister Narendra Modi in a unique position in the Russia-Ukraine war. His remarks have sparked a fresh debate across the…

MyLifeXP

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'Region's oil and gas exports are either for everyone or for no one': IRGC warns after claiming strikes on US 5th fleet base in Bahrain

Iran's IRGC warned of targeting oil routes for US allies after striking a naval base. The force claimed destruction of command centers and fuel tanks at the base in Bahrain. US forces conducted strikes on Iranian military targets near the Strait of Hormuz. These strikes aimed to degrade Iran's ability…

The Economic Times

How Will Trump’s Latest Iran Strikes Impact Australia’s Petrol Prices?

Donald Trump has ordered fresh US strikes on Iran. Here’s how it could affect Australian petrol prices at the bowser.

Pedestrian.tv

Gold prices fall Rs 1,500/10 gram, silver dips Rs 2,100/kg as oil rally outweighs US inflation data. What should investors do?

Gold and silver prices fell on the MCX on Wednesday as surging crude oil prices reignited inflation worries and dampened hopes of U.S. rate cuts, weighing on demand for precious metals. Gold futures slipped Rs 1,517 per 10 grams, while silver futures dropped Rs 2,125 per kg, reversing gains from…

The Economic Times

Iran-US war latest: Trump says Tehran ‘better behave’ as US launches second wave of strikes in 24 hours

Trump did not identify the US citizen, but said she was ‘wrongfully detained in December of 2024’

The Independent UK

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China's June oil throughput hits lowest level since pandemic on Iran war woes

China's crude oil processing in June reached its lowest point since the pandemic began. This decline occurred as global supply tightened and domestic demand weakened significantly. Refinery throughput fell substantially from the previous year, impacting overall production levels. Crude oil output also saw a slight decrease year-on-year during the first…

The Economic Times

Iran-linked vessels pass through Hormuz ahead of US blockade

Vessels transited the Strait of Hormuz linked to Iranian trade before a US blockade took effect. Nine of eleven vessels passed through the strait via the Iranian route on Tuesday. Three empty oil tankers entered the strait while others exited with Iranian exports. Attacks on commercial ships intensified, causing a…

The Economic Times

US Russia sanctions bill cuts India, China tariff threat from 500% to 100%

US Senate unveiled a revised Russia sanctions bill with softened oil tariff penalties. Major buyers like India and China will face up to 100% tariffs instead of 500%. The bipartisan legislation targets Russian officials and financial institutions while discouraging oil purchases. It includes exemptions for countries reducing their natural gas…

The Economic Times

'Hormuz to remain closed until end of America's evils': Iran defiant as US continues strikes

Iran's Revolutionary Guards said the Strait of Hormuz will remain closed until the "end of America's evils". It further warned that other oil and gas export routes serving the interests of the US and its allies could also be shut.

The Times of India

Oil Price Today (July 15): Crude oil above $86/bbl as US-Iran exchange fresh strikes. Bigger surge brewing?

Brent crude settled at its highest level since June 12 for a second consecutive session, while West Texas Intermediate (WTI) closed at its strongest level since June 15.

The Economic Times

Why the Skin Around Your Eyes Is Aging Faster and What Retinol and Sunscreen Can Do

The Anatomy That Makes This Area VulnerablePeriorbital skin, the tissue encircling the eye socket, has almost no sebaceous glands. That means it produces little to no natural oil, leaving it without the lipid barrier that keeps the rest of your face plump and protected. At roughly 0.5 mm thick, it…

Times Life

Gold edges higher on soft US inflation, Gulf conflict clouds rate outlook

Gold prices saw a slight increase on Wednesday as inflation data eased rate hike worries. Renewed Middle East conflict and rising oil prices, however, limited gains for the precious metal. Traders now anticipate a lower probability of a U.S. interest rate increase this year. Investors await China's economic data, which…

The Economic Times

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The Economic Times

Dollar struggles as softer inflation dims Fed hike bets

The dollar weakened significantly after softer inflation data emerged on Wednesday. This data curbed expectations for an immediate Federal Reserve interest rate hike. However, elevated oil prices continue to pose potential inflation risks for the economy. Bond yields also declined following the surprisingly soft consumer price index report. Traders now…

Times Life

The Aarti Ritual Is Ancient Light Science: What the Fire in Your Hands Actually Does

What a camphor flame is actually doingCamphor burns at roughly 200 degrees Celsius and produces a flame that sits almost entirely in the visible light spectrum, the band the human eye evolved to receive most directly. When you cup a lit aarti diya and move it before a murti, you…

The Economic Times

US supporting efforts to revive Iraq-Syria crude oil pipeline, US official says

The United States backs Iraq and Syria's pipeline revival efforts. This project aims to bypass the Strait of Hormuz for oil transport. American companies are expected to assist in rebuilding the Kirkuk-Baniyas pipeline. This initiative seeks to lessen Middle Eastern oil producers' dependence on the strait. Washington has re-imposed a…

The Economic Times

D-St set for a positive opening as GIFT Nifty signals firm start

Domestic equities closed lower on Tuesday, with the Nifty declining 0.7 percent. Rising crude oil prices and fresh foreign investor outflows weighed on sentiment. Global markets also showed weakness, adding to market volatility during the derivatives expiry. Analysts anticipate sideways trading with some volatility due to geopolitical tensions. Investors will…

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The Economic Times

US Senators unveil sweeping Russia sanctions bill; name India among nations facing possible tariffs

A bipartisan US Senate bill proposes sweeping sanctions against Russia's economy. This legislation could impose tariffs on countries buying significant amounts of Russian oil. India is named among five nations potentially facing these new trade penalties. The bill aims to discourage continued energy purchases from Russia. Its passage requires approval…

The Economic Times

Oil rises after US-Iran hostilities flare again with strikes on energy targets

Oil prices increased as President Donald Trump reimposed naval blockades on Iranian ports. Iran retaliated with strikes on United States infrastructure in the region. Brent and West Texas Intermediate crude oil reached their highest levels in weeks. Attacks have deepened supply disruptions in the vital Strait of Hormuz. Hostilities have…

France 24

Lebanon, Israel conclude talks, agree to implement ‘pilot zones’

Lebanon and Israel completed a new round of US-mediated negotiations in Rome on Wednesday, agreeing to implement "pilot zones" in southern Lebanon where Israeli forces would withdraw and turn over control to the Lebanese army, the US State Department said. Follow our liveblog to see how the day's events unfolded.

The Economic Times

Global Market Today: Asian stocks rise after soft US CPI, Kospi rallies

Asian shares advanced as softer US inflation data eased rate hike concerns. The artificial intelligence trade gained renewed strength, boosting technology stocks significantly. Oil prices rose for a third consecutive day due to escalating Middle East tensions. Investors are closely watching the semiconductor sector after a volatile trading session. Fed…

The Economic Times

Trump resumes Iran port blockade and threatens strikes on energy targets

President Donald Trump reimposed a naval blockade on all Iranian ports. He threatened to strike power plants and bridges next week unless negotiations resume. The US military also began fresh strikes to degrade Iranian capabilities used to attack shipping. Iran claims it closed the Strait of Hormuz after hostilities reignited…

The Economic Times

War returns to West Asia, oil seesaws as Hormuz bleeds

The United States launched a third round of strikes on Iran. Iran retaliated by attacking US military bases in Jordan and Bahrain. Two Emirati oil tankers were struck by Iranian cruise missiles in the Strait of Hormuz. Oil prices pared gains after President Trump announced new trade deals. Global markets…

Barchart

Cotton Slips Lower into Tuesday Close

Cotton futures ended Tuesday on a weaker noted despite a midday bounce, with contracts down 23 to 74 points on the session. Crude oil was up $1.69 on the day with the US dollar index was up $0.325. Monday afternoon’s Crop Progress showed 60% of the US cotton crop squared...

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