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The Latest Breaking News from Oil

Current price of oil as of June 11, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

US will seize and control Iran's Kharg Island and other key oil facilities, Trump says

Trump's social media post comes after the US and Iran traded strikes for a third day, pushing the region closer to the resumption of a full-scale war.

Euronews

Trump threatens to take 'total control' of Iran's oil industry as ceasefire teeters

U.S. President Donald Trump threatens to launch major strikes on Iran and seize control of its oil and gas industries as continuing attacks between the warring countries pushed the Middle East closer to the resumption of a full-scale war

AAP

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Trump Anticipates New Strikes Against Iran, Says U.S. Will Take Over Critical Oil Infrastructure

President Donald Trump anticipated new strikes against Iran and said the U.S. will be "taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets."

International Business Times

US will hit Iran 'very hard' tonight: Trump plans to take over main Iranian oil terminals

Iran war news: US President Donald Trump has issued a strong warning to Iran. He stated that America will strike Iran very hard. Trump also revealed plans to seize Kharg Island and other oil terminals. This move aims to gain complete control over Iran's oil and gas markets. The US…

The Economic Times

Trump says US will hit Iran 'very hard,' threatens to take 'total control' of its oil industry

President Donald Trump says the U_S_ will hit Iran "VERY HARD TONIGHT," and threatens in a social media post to "assume total control" of Iran's oil and gas industries, including the key Kharg Island, in the "not too distant future."

AAP

Cotton Bulls Push Higher on Thursday Morning

Cotton prices are up 50 to 70 points so far on Thursday morning. Futures closed the Wednesday session on a mixed note, with contracts down 16 points to 28 points higher. Crude oil was up $3.65to $91.85/barrel. The US dollar index was up $0.130 at $100.045. The Cotlook A Index...

Barchart

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Europe's central bank raises rates to fight inflation from Iran war, the Fed to decide next week

The European Central Bank on Thursday became the first major central bank to raise interest rates in response to the Iran war

The Independent UK

India bonds end higher as oil eases; focus shifts to debt sale, inflation

Thursday marked a positive performance for Indian government bonds, buoyed by falling oil prices that alleviated fears tied to the U.S.-Iran crisis. The Reserve Bank of India took decisive action to lure foreign investors and stabilize the rupee, creating a favorable atmosphere for bond trading. Investors are looking ahead to…

The Economic Times

US military confirms attack on third Indian-crewed tanker off Gulf of Oman

US forces disabled a third oil tanker in the Gulf of Oman. The ship was attempting to transport oil from Iran. US aircraft fired missiles into the engine room. This action follows a blockade initiated on April 13. CENTCOM reports disabling nine non-compliant vessels and redirecting many others.

The Economic Times

Donald Trump Defends Soaring Costs As He Claims To 'Love' New Inflation Figures

Donald Trump said he 'loves' the latest 4.2 per cent US inflation figure, insisting soaring prices are tied to his war with Iran and secretive oil moves in the Strait of Hormuz.

International Business Times UK

Wall Street points toward gains after another AI sell-off, oil prices slip

Markets on Wall Street were poised to open with strong gains following another sell-off of artificial-intelligence stocks that dragged U.S. markets sharply lower

AAP

US military says it used missile fire to disable a tanker trying to break its blockade on Iran

The U.S. military's Central Command says it struck an oil tanker in the waters just outside the Strait of Hormuz that was trying to break its blockade of Iranian ports

AAP

Rupee drops to 95.76 vs USD on dollar demand from oil cos, nearly erases RBI-led gains

Thursday saw the Indian rupee slip against the U.S. dollar, negating earlier improvements that were supported by measures from the central bank. The currency's decline was influenced by ongoing demand from oil firms and soft indicators across Asia. Starting off weak, the rupee continued to face downward pressure throughout the…

The Economic Times

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Salon

Don Jr. deal got WH off his back

An obscure Texas firm secretly connected to the president’s son said it received at least $100 million from Ambani

AAP

Iran responds to a second day of US strikes by firing at Gulf states and Jordan

The U

The Economic Times

Prabhudas Lilladher cuts Nifty target to 26,449, lists 16 high conviction stock picks

Amidst global market turmoil from the Iran-US war and El Nino, Prabhudas Lilladher lowered its Nifty 50 target to 26,449. The brokerage anticipates limited further downside but warns of sharp swings due to prolonged uncertainty. Rising geopolitical risks and import dependence are impacting India's economy, potentially curtailing consumption demand.

AAP

Iran retaliates to a second day of US strikes by firing at Gulf states and Jordan

The U

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AAP

World shares are mixed after another sell-off of AI stocks on Wall St, while oil prices ease

European shares are trading mostly higher after most Asian markets retreated, tracking another sell-off of artificial-intelligence stocks that dragged the U.S. market sharply lower

The Economic Times

China learns to live on less fuel, to the relief of oil markets

China's fuel demand has unexpectedly dropped significantly, with gasoline and diesel sales falling as consumers shift to electric vehicles and public transport. This behavioral change, driven by higher fuel prices and the property crisis, is leading to reduced crude oil imports and has major implications for global oil markets.

The Economic Times

India is set to rewrite its oil destiny, moving from risk to leverage

In a landmark agreement, India is teaming up with the UAE to significantly increase its oil reserves, transitioning into a strategic player on the world stage. This partnership promises enhanced storage solutions and ensures the nation's energy supply is more secure than ever.

AAP

Asian shares mixed after another sell-off of AI stocks on Wall St, while oil prices ease

Shares are mixed in Asia following another sell-off of artificial-intelligence stocks that dragged the U.S. market sharply lower

The Economic Times

Asia’s currency fight moves offshore as central banks push back

Asian central banks are intensifying efforts to curb offshore forex speculation as external pressures like high oil prices and a strong dollar weaken regional currencies. Policymakers are increasing oversight of offshore derivatives and tightening trading limits to stabilize currencies like the rupiah, won, rupee, and peso, which have hit record…

Euronews

European markets open cautiously ahead of ECB rate decision

The European Central Bank is widely expected to raise interest rates for the first time since 2023 as policymakers respond to rising inflation fuelled by higher energy prices linked to the Iran war.

The Times of India

22 ships, no lights: The 'secret mission' in Hormuz Trump says Iran didn't know about

US President Donald Trump on Wednesday claimed that the United States had secretly facilitated the movement of millions of barrels of oil through the Strait of Hormuz without Iran's knowledge, describing it as a covert operation that Tehran was learning about only now.

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