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The Latest Breaking News from Oil

Man Gets Oil Change At Walmart. Then He Tries To Drive Out Of The Walmart Parking Lot: 'I Never Understand How That Happens'

A man drives by a gruesome oil spill scene at a Walmart auto center and speculates about how it happened. Was it as simple as forgetting the oil drain plug?

Motor1

Hormuz shutdown deepens oil crisis; IEA warns of record inventory drop, demand plunge

Global oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market faces a severe shortage until October. Oil prices are under pressure. Demand is also falling sharply. This is the steepest drop since the Covid pandemic. Some signs suggest the…

The Economic Times

Crude Oil Prices Erase Early Gains as the Dollar Strengthens

June WTI crude oil (CLM26 ) ton Wednesday closed down -1.16 (-1.14%), and June RBOB gasoline (RBM26 ) closed down -0.0790 (-2.14%). Crude oil and gasoline prices settled lower on Wednesday, with crude oil falling from a 1-week high. Wednesday's rally in the dollar index ($DXY ) to a 1.5-week...

Barchart

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Modi’s toughest economic test may demand more than appeals

Prime Minister Narendra Modi faces economic headwinds. Appeals for reduced consumption of imported goods like oil and gold may not suffice. Allowing oil prices to rise or the rupee to depreciate could curb demand but risks inflation. Tax cuts on fuel offer an alternative to protect consumers. Addressing foreign investment…

The Economic Times

Cotton Posting Midweek Gains

Cotton futures are back up 89 to 131 points in the front months on Wednesday. The US dollar index is $0.215 higher at $98.395. Crude oil is down 31 cents at $101.87 at midday. The monthly WASDE update showed 2025/26 cotton yield at 852 lbs/ac, with production at 13.9 million...

Barchart

Soybeans Trading with Wednesday Gains Ahead of Trump/Xi Visit

Soybeans are posting with 4 to 7 cent gains across most contracts on Wednesday. The cmdtyView national average Cash Bean price is up 6 1/4 cents at $11.67. Soymeal futures are up $6.10 to $8.10, with Soy Oil futures 48 points lower in the July contract. President Trump landed in...

Barchart

India, UAE set to ink energy pacts on LPG and strategic oil reserves on Friday

Prime Minister Narendra Modi embarks on a significant visit to the UAE and four European nations. Key agreements on energy security with the UAE are expected. The tour includes discussions on trade, investment, and strategic partnerships with the Netherlands, Sweden, Norway, and Italy. This trip aims to deepen India's global…

The Economic Times

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Crude Oil Prices Supported as Hormuz Closure Tightens Global Supplies

June WTI crude oil (CLM26 ) today is up +0.50 (+0.49%), and June RBOB gasoline (RBM26 ) is down -0.0340 (-0.92%). Crude oil and gasoline prices are mixed today, with crude posting a 1-week high. The ongoing closure of the Strait of Hormuz is tightening global oil supplies and supporting...

Barchart

Chip Stock Strength Lifts the Broader Market

The S&P 500 Index ($SPX ) (SPY ) today is up +0.18%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.60%. June E-mini S&P futures (ESM26 ) are up +0.12%, and June E-mini Nasdaq futures...

Barchart

Oil Production Among OPEC Members Has Dropped More Than 30% Since Iran War Began

Oil production among OPEC members fell more than 30% since the beginning of the Iran war, the organization said.

International Business Times

Here's how the Iran war is hitting key supplies for components, according to supply chain experts

The ripples span wider than you might think.

PC Gamer

Europe’s biggest holiday company says Iran war won’t ground summer flights

Amidst the turmoil surrounding the Iran conflict, Europe's leading holiday company emphasizes that travelers can enjoy their summer getaways worry-free. Tui's CFO reassured stakeholders about jet fuel availability, dismissing price fluctuations as a non-issue for customers. Despite challenges posed by both geopolitical tensions and natural disasters, the appetite for travel…

The Times of India

Malaysia says it can do little to stop Iranian-linked oil transfers near its water

Malaysia’s maritime agency says it has limited ability to stop Iranian-linked tankers from transferring oil to other ships off its coast

The Independent UK

Current price of oil as of May 13, 2026

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

Fortune

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The Economic Times

Trump says no need for China's help on Iran as shippers seek passage through Hormuz

President Donald Trump states no help is needed from China to end the Iran war. He believes the US will win the conflict. Iran is firming its control over the Strait of Hormuz. US and Iran demands to end the war remain far apart. A Chinese supertanker is attempting to…

The Conversation

Why Pennsylvania’s low-income residents are feeling the squeeze as gas prices rise

When gas prices rise, not everyone feels the pain equally. For low-income and rural Pennsylvanians, a trip to the gas station can mean choosing between a full tank and groceries. Many factors, such as crude oil costs, distribution and marketing, and to some extent Pennsylvania gas taxes all add up…

Euronews

Oil stocks drain at record pace as IEA warns of renewed price swings

The International Energy Agency says the oil market is likely to remain in deficit until the final quarter of the year, as disruptions at the Strait of Hormuz continue to constrain supply, increasing the risk of renewed price volatility.

Barchart

Cotton Getting an Early Wednesday Bounce

Cotton prices are up 35 to 57 cents so far on Wednesday. Futures closed the Tuesday session with front months down 105 to 145 points. The US dollar index was $0.366 higher at $98.190. Crude oil was up $2.83 at $102.05 at the close. The annual USDA Cotton Ginnings report...

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MarketBeat

Orion Q1 Earnings Call Highlights

Orion (NYSE:OEC) raised its full-year earnings outlook after reporting first-quarter adjusted EBITDA that exceeded internal expectations, as management cited stronger demand late in the quarter and ongoing benefits from the company’s regional manufacturing footprint amid volatile energy markets and

The Independent UK

Why Modi is asking people in India to stop buying gold

The unusual appeal from the prime minister has a direct impact on India’s foreign exchange reserves as the economy grapples with energy crisis and declining currency value, writes Namita Singh

The Economic Times

How amana is simplifying multi-asset investing in a complex market

In today's volatile global markets, a multi-asset portfolio is essential for resilient wealth creation. Platforms like amana offer access to diverse asset classes, emphasizing balance over prediction. This approach helps investors navigate geopolitical tensions and economic shifts, fostering disciplined, long-term growth.

The Economic Times

Indian rupee hits record low as outflows, oil strain worsen rout

The energy shock from the prolonged U.S.-Iran war ‌that has effectively ⁠shut ⁠the Strait of Hormuz has hurt India's macroeconomic outlook and strained its current account balance. Economists have lowered their growth forecasts, raised inflation projections and warned of sustained pressure on the rupee.

Barchart

Stock Index Futures Gain as Tech Stocks Rebound, U.S. PPI Data and Trump-Xi Summit in Focus

June S&P 500 E-Mini futures (ESM26) are up +0.25%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.79% this morning, buoyed by gains in technology stocks, while investors gear up for crucial U.S. producer inflation data and the highly anticipated Trump-Xi summit.

The Economic Times

India set to scale back Russian oil imports if US waiver lapses

Iran war oil impact: Amidst the ongoing geopolitical turmoil, Indian oil refiners face a critical moment as the expiration of a US waiver looms this weekend. With the war affecting supplies from the Persian Gulf, India has lately seen a surge in Russian oil imports.

The Economic Times

Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil dips as markets watch Iran ceasefire, Trump-Xi China summit and Strait of Hormuz risks

Why are oil prices down and gas rates steady today, and will Brent crude, US WTI futures, Dutch and British natural gas prices rise or decline in near future? Oil slipped after a three-day rise while gas stayed stable as markets tracked Iran ceasefire risks and the Trump-Xi China summit.…

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