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The Latest Breaking News from Oil

Stocks are flat, as the Fed’s latest forecast flirts with stagflation

The Federal Reserve’s quarterly projection included lower growth and higher inflation; the Fed also maintained its previous expectation of two interest rate cuts.

Fortune

Middle East Jitters Underpin Crude Prices

July WTI crude oil (CLN25 ) Wednesday closed up +0.30 (+0.40%), and July RBOB gasoline (RBN25 ) closed up +0.0367 (+1.62%). Crude oil prices whipsawed Wednesday in volatile trade and finally settled higher. Concern about escalation of the Israel-Iran war boosted crude prices Wednesday after Iran's Supreme Leader Ayatollah Ali...

Barchart

Will the new Middle East crisis rock the world economy? The markets say no – but I fear they’re wrong

The oil shocks of the 1970s-90s had brutal economic impacts. As Israel attacks Iran, a moderate rise in oil prices rests on questionable assumptions, says Guardian columnist Larry Elliott

The Guardian - UK

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Why Israel-Iran tensions might not raise prices at the pump as much as feared (for now)

The unexpected attack by Israel on Iran, a major oil-producing nation, may undermine anaemic global economic growth and hinder central banks’ ability to cope in an already uncertain market.

The Conversation

FTSE 100 nudges up ahead of Fed decision following broadly expected CPI data

The oil price fluctuated, with the Israel-Iran conflict entering its sixth day.

Evening Standard

Crude Prices Fall on Hopes the Israel-Iran Conflict Will De-Escalate

July WTI crude oil (CLN25 ) today is down -1.06 (-1.42%), and July RBOB gasoline (RBN25 ) is down -0.0054 (-0.24%). Crude oil prices today gave up an early advance and turned lower on signs that the conflict between Israel and Iran could de-escalate after President Trump said Iran reached...

Barchart

Youth-led Sunrise Movement to launch campaign to ‘villainize big oil’ and force climate action

With climate policies under siege by the Trump, young climate activists are intensifying their campaign

The Guardian - US

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Israel-Iran conflict fuels best month for energy stocks since 2022

European energy stocks soar as the Israel-Iran conflict drives Brent crude up 20% in June. The EURO STOXX 600 Energy index has gained 8% over the same period, on track for its best month since October 2022.

Euronews

Global Oil Markets on Edge as Iran Threatens to Block Strait of Hormuz Amid Escalating War with Israel

Iranian officials allegedly plan to close the Strait of Hormuz. Can Donald Trump help prevent this?

International Business Times UK

War, tariffs, and Trump: What members of the FOMC will be thinking as they finalize their base rate decision today

ANALYSIS: Here are a handful of factors likely impacting the Fed’s interest rate decision being announced today.

Fortune

PZ Cussons narrows profit guidance and sells stake in Nigerian palm oil firm

The London-listed firm said its profit outlook has been impacted by £2 million of new packaging recycling costs.

Evening Standard

Trump promised riches from ‘liquid gold’ in the US. Now fossil fuel donors are benefiting

How Kelcy Warren, one of Trump’s biggest industry backers, and his pipeline firm are likely to flourish in his second term

The Guardian - US

UK inflation to edge higher if oil prices push up energy costs, experts warn

Experts have said that inflation is set to remain elevated over the coming months, particularly if global oil prices continue to spike.

Evening Standard

Indigenous protest as Brazil sells Amazon oil blocks

Indigenous groups and environmental activists rallied in Rio de Janeiro on Tuesday as Brazil auctioned off oil blocks near the ecologically sensitive Amazon River mouth.

Euronews

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Euronews

European shares show slight rise despite Iran-Israel crisis, while oil stays high

Israel and Iran continued to exchange airstrikes on Wednesday while the US moved fighter jets to the region.

Evening Standard

FTSE 100 Live 18 June: Food and oil prices cloud rates outlook, index steady

Interest rate speculation and Middle East uncertainty today held back European markets during a lacklustre session for the FTSE 100 index.

Fortune

Agrifood giant Wilmar hands over almost two-thirds of its annual profit to Indonesia as ‘security deposit’ for palm oil corruption case

Shares in Wilmar, one of a handful of Southeast Asian firms to make the Global 500, dropped 3% on the news.

The Independent UK

Asian shares are mixed and oil prices rise as escalating Iran-Israel crisis hits Wall Street

Asian shares are mixed and oil prices have advanced after the escalation of conflict in the Middle East hit Wall Street

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Al Jazeera

Oil prices spike, US stocks fall on Israel-Iran crisis

Crude oil prices jump more than 4 percent on fears the US may join Israel’s offensive against Iran.

The Conversation

Artist Eric Smith won 3 Archibalds, then vanished. A new show reveals his unseen works

There are many routes to artistic obscurity. The surest path, of course, is to have never been discovered in the first place. But this wasn’t the case with the late Eric Smith (1919-2017).

International Business Times

Oil Stabilises After Surge, Stocks Drop As Mideast Crisis Fuels Jitters

Oil prices stabilised Wednesday after surging the previous day on fears of a US intervention in the Israel-Iran conflict sparked by Donald Trump calling for Tehran's "unconditional surrender".

The Independent UK

Back-to-back Cats: Panthers repeat as Stanley Cup champions by beating the Oilers in 6 games

The Florida Panthers repeated as Stanley Cup champions by beating the Edmonton Oilers 5-1 in Game 6 of the final

AAP

Miners weigh on shares as iron ore continues decline

Australian shares have continued to slip, as global growth concerns push miners lower and the ongoing Middle East conflict weighs on investor confidence.

The Conversation

US and Iran have a long, complicated history, spanning far beyond Israel’s strikes on Tehran

Relations between the United States and Iran have been fraught for decades – at least since the U.S. helped overthrow a democracy-minded prime minister, Mohammed Mossadegh, in August 1953. The U.S. then supported the long, repressive reign of the Shah of Iran, whose security services brutalized Iranian citizens for decades.

AAP

Australia slaps sanctions on Russian 'shadow fleet'

A shadowy network of ships Russia uses to trade goods such as oil in contravention of sanctions has been targeted by Australia for the first time.

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