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The Latest Breaking News from Oil

Russian oil tankers burn as Ukrainian drones unleash another wave of attacks: Watch

Ukraine's military said on Thursday that it struck 12 Russian tankers in the Sea of Azov overnight. It also added that the attack was part of its efforts to disrupt Russia's military supply routes and cut off support to Russian-occupied Crimea.

The Times of India

Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze

Ukrainian drones struck Russian oil facilities, igniting fires and causing fuel shortages across regions. Two oil tankers in the Sea of Azov were also set ablaze by these drone attacks. These strikes are part of Ukraine's strategy to disrupt Russian fuel supplies to occupied Crimea. Meanwhile, the United States pledged…

The Economic Times

The U.S. And Iran Again Exchanged Clashes. Oil Continues To Rise As a Result

Oil keeps rising as tensions between the U.S. and Iran continue to escalate.

International Business Times

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Current price of oil as of July 9, 2026

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

Fortune

Global markets are mixed and oil prices rise as Iran and US launch new attacks

Global markets show mixed early trading as oil prices rise modestly. Fresh attacks between Iran and the United States threaten a fragile regional truce. PepsiCo shares declined after reporting stronger revenue but weaker North American demand. European and Asian markets experienced varied movements throughout the trading day. Upcoming economic reports…

The Economic Times

India's crude imports remain resilient despite Strait of Hormuz tensions

India's crude oil imports are insulated from Hormuz Strait tensions currently. Refiners have successfully diversified their import portfolio over recent years. Russia now supplies over half of India's total crude oil imports. However, LPG and LNG supplies remain vulnerable to Gulf disruptions. Prolonged instability could increase shipping costs and regional…

The Economic Times

Why Trump desperately needs Nato’s help to get out of his mess in Iran

ANALYSIS: Despite launching a new wave of strikes, Washington knows that there is no military solution to break the deadlock in talks with Tehran. Daniel Keane argues that it is time for other countries to help Trump find a solution

The Independent UK

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Persian Gulf tanker backlog clears, but fresh Iran attacks cloud shipping outlook

A large backlog of oil tankers in the Persian Gulf has nearly cleared. This occurred after a ceasefire was signed between Iran and the United States. However, recent attacks on commercial vessels have renewed safety concerns. Shipowners now face renewed hesitation about navigating the vital oil corridor. This situation undermines…

The Economic Times

U.S.-Iran talks are 'eerily similar' to Trump's bumpy China dealings in his first term, says top economist—don't rule out further oil price spikes

"The deep distrust between the US and Iran meant bumps in the road were inevitable and this feels eerily similar to the trade negotiations between the U.S. and China during President Donald Trump’s first term, which had numerous flare-ups followed by de-escalation."

Fortune

Donald Trump's meddling with top spy agency threatens America's survival

The Office of the Director of National Intelligence faces scrutiny amid political appointments and turmoil. President Trump's selections have raised concerns about expertise and politicization of intelligence powers. Previous Directors highlight the ODNI's creation after intelligence failures and its role in information sharing. Debates continue regarding the ODNI's size and…

The Economic Times

RBI intervention, oil price dip help rupee edge modestly higher

The Indian rupee closed stronger on Thursday, supported by central bank intervention. Lower oil prices also helped soothe Indian equities and bonds during trading. Asian currencies were mostly firmer, while the dollar index hovered near the 101 mark. Volatility expectations for the rupee increased slightly after recent Middle East fighting.…

The Economic Times

Woman Goes To Midas For Her First Oil Change Ever. Then They Give Her A $6,000 Estimate And A Lecture: ‘Do Not Go Back’

"I got berated, I got bullied..."

Motor1

Global Market: European shares rebound as tech stocks recover; investors assess Middle East developments

European stock markets traded higher on Thursday, recovering from previous losses. Technology shares led the gains, driven by renewed interest in artificial intelligence demand. Oil prices eased despite ongoing geopolitical uncertainty in the Middle East region. Spanish equities outperformed regional peers after trade-related tensions eased. AstraZeneca shares tumbled significantly after…

The Economic Times

JioBlackRock Flexi Cap Fund exits Vedanta group companies after demerger, sells 8 more stocks

JioBlackRock Flexi Cap Fund exited Vedanta group companies following the demerger of the entities in June, according to monthly portfolio data from ACE MF. The fund sold 8.16 lakh shares each of Vedanta Aluminium Metal, Vedanta Iron and Steel, Vedanta Power, and Vedanta Oil and Gas after the demerged entities…

The Economic Times

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Benzinga

Hakeem Jeffries Slams Trump Over Iran 'Ceasefire' Collapse—Patty Murray Says Gas Prices Are Surging Again: 'What a Total Failure…'

Democratic Party lawmakers, including House Minority Leader Hakeem Jeffries, have criticized President Donald Trump as tensions escalate with Iran and gas prices surge.

The Economic Times

Arvind Kejriwal to address media at 4 PM over fuel pricing

Arvind Kejriwal will address fuel pricing concerns at a press conference today. He alleges petrol should cost 82 rupees per liter but is sold at 102. Union Minister Hardeep Singh Puri noted price cuts are a legitimate question now. Oil companies absorbed significant losses selling fuel below cost previously. Puri…

The Economic Times

Vedanta Oil and Gas shares rally 8%. What’s boosting investor sentiment today?

Vedanta Oil and Gas shares rose sharply on Thursday, outperforming its recently listed Vedanta group peers after reports that the Delhi High Court cleared the enforcement of $99 million in arbitral awards in favour of Vedanta and Ravva Oil. The development boosted investor sentiment despite the company's weaker Q1 production…

France 24

Oil prices stabilise after renewed US-Iran strikes rock peace hopes

Oil prices fell on Thursday after a surge the previous day triggered by US President Donald Trump's declaration that the ceasefire with Iran was "over" following the country's renewed attacks on ships in the Strait of Hormuz. Trump later said that he expected the latest military flare-up to end quickly…

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The Economic Times

Hormuz & Iran war can slow India down but not hold it back

Despite the Iran war, Strait of Hormuz risks and elevated crude oil prices, the IMF expects India to remain one of the world's fastest-growing major economies. Strong consumer spending, booming automobile sales, rising FMCG demand, resilient services and robust domestic consumption are helping shield India's economy from global shocks and…

Benzinga

Stock Market: Will S&P 500 Open Up or Down Today?

The S&P 500 slipped on Wednesday as renewed hostilities between the U.S. and Iran pushed oil prices sharply higher, but Polymarket traders are betting the benchmark index will rebound at Thursday’s open.

The Independent UK

Ukrainian drones batter Russian oil facilities, set more oil tankers ablaze

Ukrainian drones have hit more Russian oil facilities and set two oil tankers ablaze in the Sea of Azov, a day after U.S. President Donald Trump pledged to grant Ukraine a license to manufacture the Patriot air defense systems

Fortune

How global energy markets built the ‘Amazon of oil’ logistics to keep prices from spiraling

Nations and companies can more easily and quickly divert petroleum shipments to hot spots thanks to modern technology.

The Economic Times

India's richer middle class is living a more dollar-linked life while earning in rupees

Dollar spending India: The country's expanding middle class now spends more on foreign goods and services. International travel and overseas education are becoming regular annual expenses for many families. Digital subscriptions, AI tools, and imported electronics also contribute to this growing dollar demand. While oil imports remain the largest driver,…

The Economic Times

INDIA BONDS-India bonds pause after slump as oil, Treasury risks linger

Indian government bonds traded narrowly on Thursday after a sharp selloff. Surging oil prices and higher U.S. Treasury yields pressured local debt markets. The U.S. military launched fresh strikes on Iran, impacting peace hopes. Minutes from the U.S. Federal Reserve also reflected inflation concerns. Foreign participation continued to support Indian…

The Economic Times

This sector is set to dominate Q1 earnings for all the wrong reasons

Oil marketing companies are set to dominate Q1 earnings but for the wrong reasons, with HPCL, BPCL and IOCL expected to post massive losses as elevated crude prices crushed fuel marketing margins. The sharp earnings hit is likely to overshadow profit growth in financials, telecom and metals, dragging overall India…

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