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The Latest Breaking News from Oil

U.S. emergency oil supplies are lower now than at any time since Reagan—and heading toward panic levels

Everything you need to know before you reach the office this morning.

Fortune

Suez Canal sees oil tanker surge amid Strait of Hormuz disruption

Egypt's Suez Canal saw a significant rise in oil tanker traffic and revenue in April. This surge is linked to the closure of the Strait of Hormuz, forcing ships to use the Red Sea route. Broader vessel traffic also increased. This unexpected boost benefits Egypt's foreign exchange earnings, though overall…

The Economic Times

Sali Hughes on beauty: a new generation of setting sprays that work even on oily skin

Want to keep your makeup in place but always end up looking shiny? These sprays have a blurry finish that flatters everyone

The Guardian - UK

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Banks pay 7% on dollar deposits as India seeks fresh foreign currency

Indian banks are significantly increasing rates on foreign-currency deposits to attract overseas residents, testing the central bank's new measures to boost capital inflows and support the rupee. This strategy aims to strengthen the currency amidst high oil prices and intense domestic deposit competition.

The Economic Times

World shares are mostly lower after a tech sell-off on Wall Street, while oil prices waver

Shares in Europe are mostly lower after most markets in Asia declined

AAP

Rupee to average around 96/USD in FY27; risks from oil, dollar persist: Motilal Oswal

The Indian rupee is projected to average around 96 against the US dollar in FY27. However, this outlook faces potential challenges including dollar strength and crude oil price fluctuations. Despite a widening trade deficit, strong capital inflows and RBI intervention are expected to prevent a sharp depreciation.

The Economic Times

How a 21-year-old Cuban is using solar-powered tricycles to keep Havana moving through blackouts

Cuba is in the middle of its worst energy crisis in decades. The national grid has collapsed multiple times since 2024, leaving millions of people without power for days at a stretch. As of early 2026, eight of the country's major thermal generation plants are offline, the ones still running…

The Times of India

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Why is market rising? Sensex jumps 1,000 points in 2 days, Nifty crosses 23,400. 3 key factors behind the surge

Indian stock markets surged for a second consecutive session, with Sensex and Nifty crossing significant milestones. This resilience occurred despite escalating Iran-US tensions, as cooling oil prices and a fizzling AI rally in global markets provided support. Key sectors like FMCG and Private Banks led the gains.

The Economic Times

America’s emergency oil reserve is about to hit its lowest level since Reagan was in office

The Trump administration has drained 66 million barrels from the SPR since the war in Iran began.

Fortune

A question for Nigel Farage – why is your nationalist party so obsessed with destroying British jobs?

Claims that our prosperity depends on oil and gas are bunkum – unless you’re a Reform backer with fossil fuel interests, of course, says Guardian columnist George Monbiot

The Guardian - UK

Asian shares fall after a tech sell-off on Wall Street, while oil prices stabilize

Asian shares have mostly retreated and oil prices rose and then fell back after the U.S. launched fresh airstrikes against Iran, raising questions again over prospects for a permanent end to the war

AAP

Govt raises nearly Rs 20,000 crore through disinvestment, asset sales as West Asia conflict swells subsidy burden

The Centre has raised nearly Rs 20,000 crore through stake sales and asset monetisation in the first two months of this financial year. This comes as the government faces rising energy and fertiliser costs. Officials are working to boost non-tax revenues to meet spending pressures. The government has also provided…

The Economic Times

'Hole at bottom, vessel sinking': Indian crew sends SOS seeking 'immediate help' after US missile hit ship

NEW DELHI: An Indian-crewed oil tanker sent desperate distress calls seeking "immediate help" after it was struck by a US missile off the coast of Oman, leaving the vessel on fire and taking on water.

The Times of India

Tech sell-off deepens but oil prices stay flat despite renewed Iran tensions

Global stock markets fell on Wednesday, extending a volatile week driven by concerns about rising inflation, potential interest rate hikes and escalating tensions in the Middle East.

Euronews

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The Economic Times

Drones hit historic museum in Russia-annexed Crimea as officials alter train schedule

Ukrainian drones struck a historic museum in Sevastopol and targeted Russian energy infrastructure. Authorities reduced nighttime train services due to intensifying air attacks. Several Russian cities, including Novokuibyshevsk and Moscow, reported repelling drone assaults. These attacks are impacting Russia's oil output and causing fuel shortages in Crimea.

The Economic Times

China's imports of major commodities show price remains key driver

China's May commodity trade reveals price is key to its resource imports. Crude oil imports hit an eight-year low due to high prices. Copper imports also fell as prices rose. Conversely, China boosted aluminium exports amid higher global prices. Coal imports declined as prices increased. These shifts highlight China's response…

The Independent UK

Asian shares fall after a tech sell-off on Wall Street, while oil prices gain

Asian shares have mostly retreated and oil prices are higher after the U.S. launched fresh airstrikes against Iran, raising questions again over prospects for a permanent end to the war

The Economic Times

Silver plummets Rs 4,500/kg, gold dips Rs 2,500/10 gm as Iran strikes US airbases. Time to sell?

Gold and silver prices saw a sharp decline on the Multi Commodity Exchange on Wednesday. Fresh Middle East tensions, a stronger dollar, and rising oil prices impacted market sentiment. MCX silver futures for July 2026 delivery dropped significantly, as did gold futures for August 2026 delivery. International spot gold also…

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The Economic Times

Market wrap: Sensex rises 64 points, Nifty closes below 23,250; broader markets crash

Indian stock markets saw mixed trading as the Sensex eked out marginal gains while the Nifty slipped into the red. Small and midcap indices experienced significant declines. Geopolitical tensions between Iran and the US resurfaced, impacting market sentiment, though oil prices cooled down.

The Economic Times

Why are oil prices up, while gold, silver prices down today along with upcoming US stock market futures crash? US attack, Iran tensions, inflation fears and market reaction explained

Why are oil prices up, while gold, silver prices down today along with upcoming US stock market futures crash? Global markets moved in different directions after fresh U.S. strikes against Iran increased geopolitical tensions. Oil prices gained as supply concerns returned. Gold and silver prices fell as the U.S. dollar…

AAP

European shares resilient, oil higher after strikes

Oil has gained after renewed strikes between the US and Iran, news that European shares shrugged off, while Asian stocks ‌fell as AI stocks came under pressure.

The Economic Times

GIFT Nifty rises 100 points, hints at positive start; key trading cues for today

Indian markets closed higher on Tuesday, boosted by banking and financial stocks. The Reserve Bank of India's new forex swap facility eased overseas borrowing concerns. Market sentiment improved with hopes of a Middle East truce and falling crude oil prices. Investors remain watchful due to ongoing geopolitical tensions and inflation…

The Economic Times

Gold drops as oil climbs on renewed US-Iran hostilities

Gold prices dropped over 1% as rising oil prices, fueled by renewed U.S.-Iran hostilities, heightened inflation and interest rate hike concerns. Traders are now pricing in a high probability of a Federal Reserve rate increase by December. Key U.S. inflation reports are anticipated this week.

The Economic Times

Oil Price Today (June 10): Crude oil rises to $92 as Iran attacks US airbases in Jordan, Kuwait. What’s next?

Oil prices rebounded approximately 1% on Wednesday, recovering from a seven-week low. Fresh Iranian responses to U.S. military strikes, including missile firings at a Jordanian airbase, have reignited tensions and impacted peace hopes. The ongoing disruptions in the Strait of Hormuz and declining U.S. crude inventories are also contributing to…

The Economic Times

Asian stocks decline, oil prices gain as US hits Iran

Asian markets saw a decline as technology shares faced renewed selling pressure. Tensions in the Middle East intensified following US strikes on Iran, causing crude oil prices to rise. Investors are now closely watching upcoming US inflation data for clues on potential Federal Reserve interest rate decisions.

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