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The Latest Breaking News from Oil

Oil prices jump after weekend US and Iran attacks

Benchmark Brent crude rose 4% to 79 US dollars a barrel as America and Iran both claimed control over the vital Strait of Hormuz.

Evening Standard

Iran Keeps Closing the Strait of Hormuz—So Why Aren't Governments Panicking Hike Like They Used To?

The US-Iran conflict escalates with military strikes, impacting the Strait of Hormuz. This vital trade route sees fluctuating oil prices as tensions rise, prompting global shifts in energy strategies.

International Business Times UK

US Strikes Iran After Strait of Hormuz Ship Attacks as Brent Nears $76 and Tanker Traffic Slows

US strikes Iran amid Strait of Hormuz tensions, impacting Brent crude prices, UK petrol costs, and energy bills. Stay informed on global oil shifts affecting British households.

International Business Times UK

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Global Market: Japan's Nikkei closes lower as oil price jump dims corporate outlook

Japan's Nikkei share average closed lower as oil prices rose due to renewed Middle East conflict. Investors weighed the corporate outlook amid increasing costs and the start of earnings season. Chip-related stocks dragged the Nikkei lower, influenced by South Korea's benchmark index. Memory maker Kioxia tanked significantly after a high-profile…

The Economic Times

Cheap drones expose energy as global economy's weak spot

LONDON - Cheap, ⁠mass-produced drones have transformed modern warfare, exposing critical energy infrastructure as an Achilles' heel for modern economies.

Bangkok Post

Oil prices leap and stocks fall as Trump reinstates Hormuz blockade on Iranian shipping

Brent crude rises 5% after US president says 20% toll will be imposed on key trade route to cover ‘safety and security’

The Guardian - UK

Oil prices soar after Middle East conflict escalates again

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The Independent UK

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Oil price jumps 3% and UK pump prices rise as the US and Iran trade attacks – as it happened

Brent crude remains below $80 a barrel; European shares push cautiously higher while Asian shares tumble with South Korea’s Kospi down nearly 10%

The Guardian - UK

Ukraine-Russia war latest: Kyiv hit in fresh wave of Russian attacks after Putin vows ‘powerful’ response

Attacks come as Zelensky and allies vow to use war-tested Kyiv's defence to protect Europe against Russian ballistic missiles

The Independent UK

Rupee hits one-month low as renewed Mideast conflict lifts oil prices

The Indian rupee reached its weakest point in over a month on Monday. Renewed Middle East hostilities and Iran's Strait of Hormuz claim sent oil prices surging. State-run banks offered dollars, likely on behalf of the Reserve Bank of India. Markets had anticipated less severe escalation, but this risk is…

The Economic Times

Newsletter: Settlement trade showdown looms

Good morning. I’m Mared Gwyn writing on another stifling day in Brussels. The political agenda is also hot – today we preview a clash on Israeli settlement trade, a push for further sanctions on Russia, and an expected reshuffle in Ukraine’s government.

Euronews

Vedanta Iron, Vedanta Aluminium & other group stocks jump up to 5%. Should you buy?

Vedanta Group stocks gained on Monday, recovering from a recent correction after their stock exchange debut. Vedanta Iron and Steel shares rose nearly 5%, while Vedanta Oil and Gas also saw an increase. Vedanta Power shares experienced a slight gain, and Vedanta Aluminium shares traded higher today. Brokerages have issued…

The Economic Times

Oil firms eye wider rollout of lightweight 10-kg LPG cylinders for commercial users

State-owned oil companies are considering offering lightweight ten-kilogram LPG cylinders to commercial users. These composite cylinders could be sold at commercial rates through gas agencies and retail outlets. This expansion aims to benefit migrant workers and small businesses needing LPG. The lightweight cylinders are already available for domestic consumers under…

The Economic Times

Oil Rallies 4% as Mohamed El-Erian Warns of 'Significant Intensification' in US-Iran War

Global crude oil prices jumped roughly 4% early Monday following a wave of fresh U.S. military strikes against Iran. The sudden commodity rally reflects a warning from top economist Mohamed El-Erian that the “significant intensification” of hostilities in the Middle East will severely test the market’s prevailing assumption that the…

Benzinga

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The Economic Times

India bonds fall as oil spike, Treasury rout weigh

Indian government bonds experienced a decline early Monday, mirroring U.S. Treasury selloffs. Escalating U.S.-Iran tensions boosted oil prices, raising inflation concerns for India. Hopes for inclusion in Bloomberg's flagship index are expected to cushion further bond price drops. Overseas investors have shown persistent demand for Indian government bonds in July.…

Euronews

Oil prices climb as Strait of Hormuz tensions reignite supply concerns

Oil prices jumped and Asian shares were mostly lower on Monday after the US carried out airstrikes and Iran retaliated.

The Economic Times

Sunil Singhania-backed Abakkus Flexi Cap Fund exits 3 Vedanta group companies after demerger. Check complete list

Sunil Singhania-backed Abakkus Flexi Cap Fund exited Vedanta, Vedanta Oil & Gas and Vedanta Iron & Steel following the group's demerger in June, while raising exposure to Vedanta Aluminium and Vedanta Power. The fund also increased stakes in 28 stocks, with its assets under management rising to Rs 5,300 crore.

The Economic Times

Allies to muster more air defence aid for Ukraine as battlefield momentum shifts

Western allies will meet in Paris to secure more air-defence commitments for Ukraine. Ukraine faces increasing exposure to Russian ballistic missiles and needs faster weapon supplies. Leaders will discuss anti-ballistic missile cooperation and potential joint production initiatives. They will also consider ways to crimp Russia's revenue sources and its oil…

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The Economic Times

Gold prices fall by Rs 2,000/10 grams, silver dips by Rs 5,400/kg as rising oil prices spur rate hike bets. Should you sell?

Gold and silver prices extended losses on the MCX for a second straight session on Monday amid rising oil prices triggered by fears of a Strait of Hormuz closure. Higher crude prices raised concerns over persistent inflation and prolonged high interest rates, weighing on precious metals.

The Independent UK

Oil prices jump and Asian shares slip as US and Iran carry out airstrikes

Oil prices have jumped and Asian shares are mostly lower after the U.S. carried out airstrikes and Iran retaliated

The Economic Times

Why is market falling today? Sensex plunges 700 points, Nifty tests 24,000. 6 key factors behind the selloff

Indian stock indices Sensex and Nifty experienced significant declines on Monday. Rising oil prices and Middle East tensions dampened investor sentiment across the market. Broader market indices also slipped into the red, reflecting widespread losses. Several major companies saw their share prices drop considerably during trading. The overall market breadth…

The Independent UK

Oil prices jump after US and Iran escalate strikes in the Middle East

Brent crude climbs 3.3 per cent in early trade to reach $78.50 a barrel

The Economic Times

Korea's Kospi hits 8% lower circuit, trading halted. What's rattling investors today?

South Korea's benchmark Kospi index plunged 8% to lower circuit on Monday as rising tensions in the Gulf and soaring oil prices rattled global markets. The selloff, led by sharp declines in AI-heavyweights SK Hynix and Samsung Electronics, pushed the index deeper into bear market territory, although it remains the…

AAP

Australian shares tread water as traders weigh conflict

Australia's mining sector has resumed its decline after the US-Iran conflict sent crude prices higher, but local banks continue to recover from a recent slump.

The Economic Times

Oil Price Today (July 13): Crude oil up almost 5%, nears $80 as US, Iran unleash more strikes. $100 in sight?

Brent crude futures advanced $3.34, or 4.38%, to $79.5 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $3.07, or 4.30%, to $74.20 a barrel. The latest rally comes after both benchmarks climbed 5.5% last week, with WTI once again trading above $74 a barrel. European natural gas futures…

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