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The Latest Breaking News from Oil

Soybeans Posting Strength as USDA Shows Tighter Stocks

Soybeans are in rally mode on Tuesday, with contracts up 11 to 17 cents on a friendlier USDA report from this morning. The cmdtyView national average Cash Bean price is up 14 1/2 cents at $11.61 3/4. Soymeal futures are up $3.70 to $5.10, with Soy Oil futures 80 to...

Barchart

Vedanta chief Anil Agarwal backs PM's call to save forex, pitches for mining reforms

Vedanta Chairman Anil Agarwal urged swift mining reforms to boost domestic production of oil, gold, and other critical resources, aligning with Prime Minister Modi's call to conserve foreign exchange. Agarwal emphasized privatization and self-certification in clearances to unlock the potential of existing assets and reduce import dependency, citing Vedanta's success…

The Economic Times

How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system

For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trillion, just ahead of the GDP of US$31.22 trillion.

The Conversation

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US Workers’ paychecks lose buying power for first time since 2022: What is crushing middle-class Americans despite rising wages and bigger paychecks running higher?

US inflation rose to 3.8% in April. That is the highest level since May 2023. American workers are now losing buying power again as rising prices move faster than paycheck growth. Real wages fell for the first time in three years. Gasoline prices surged 28.4%. Rent inflation accelerated sharply. Middle-class…

The Economic Times

French oil giant TotalEnergies' record profits fuel calls for windfall tax

Since the outbreak of the Middle East conflict, French energy company TotalEnergies has faced mounting criticism in over profits it has made from soaring fuel prices. Now its chief executive has been summoned to answer questions before the National Assembly.

Radio France Internationale

Crude Oil Prices Rally on Doubts Over US-Iran Ceasefire

June WTI crude oil (CLM26 ) today is up +3.95 (+4.03%), and June RBOB gasoline (RBM26 ) is up +0.1110 (+3.08%). Crude oil and gasoline prices are moving sharply higher today after President Trump cast doubt over the ceasefire with Iran, which could lead to the escalation of hostilities that...

Barchart

Stocks Retreat as Oil Prices Surge and Inflation Accelerates

The S&P 500 Index ($SPX ) (SPY ) today is down -0.74%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.55%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.45%. June E-mini S&P futures (ESM26 ) are down -0.74%, and June E-mini Nasdaq futures...

Barchart

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Congress Is Talking About a Federal Gas Tax Holiday: How Much Will Drivers Really Save?

As calls grow to suspend the federal gas tax, analysts say drivers may see only limited relief at the pump.

Kiplinger

Why did the US stock market crash today? Dow Jones, S&P 500 and Nasdaq sink deep into red as Iran tensions and soaring oil prices fuel fresh inflation fears across Wall Street

US stock market crash today shocked Wall Street after US CPI inflation jumped to 3.8%, the highest level in three years. The Dow Jones fell more than 307 points to 49,396.89, while the S&P 500 declined 0.63% to 7,366.24. The Nasdaq Composite dropped nearly 1%. Tech stocks lost momentum. Nvidia,…

The Economic Times

Suspending federal gas tax wouldn’t save drivers as much as they might hope – here’s what goes into the price of a gallon of gas

With gasoline prices still high – averaging over US$4.50 a gallon in mid-May 2026 – President Donald Trump said he wanted Congress to suspend the federal gas tax, which is 18.4 cents a gallon for gasoline and 24.3 cents a gallon for diesel. A bill has been introduced in the…

The Conversation

'A miserable number': Iran war and AI spending drove inflation to a 3-year high

KPMG's Diane Swonk says the Iran war is in your groceries, AI is in your electricity bill, and the Fed has no easy way out.

Fortune

Venezuela as the 51st State? Here's Why Donald Trump's Venezuela Statehood Dream Faces Legal Roadblocks

Donald Trump has suggested making Venezuela the 51st US state, sparking debate over the feasibility and legality of such a move, amid ongoing discussions about oil and geopolitical influence.

International Business Times UK

Dollar Rallies on Crude Oil Strength as Hot US CPI Report

The dollar index (DXY00 ) today is up by +0.45%. The dollar is climbing today on renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on "life support." Today's +3% surge in crude oil prices also boosts inflation expectations and may prompt...

Barchart

Oil Rises As Hope For Iran Deal Continue To Fizzle

Oil rose again on Tuesday as hopes for a deal to end the war in Iran continue to fizzle.

International Business Times

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The Economic Times

Quote of the day by ‘Father of Tragedy’ Aeschylus: ‘If you pour oil and vinegar into the same vessel, you would call them…’ Timeless lesson on toxic friendships, conflicts and harmony by Greek playwright

Quote of the day: Widely regarded as the “Father of Tragedy,” Aeschylus transformed Greek drama into a powerful art form exploring justice, pride, conflict and reconciliation. His plays were populated with kings, warriors, gods and moral struggles, yet many of his reflections on human nature continue to feel remarkably relevant…

Barchart

Stocks Pressured by Rising Oil Prices and Accelerating Inflation

The S&P 500 Index ($SPX ) (SPY ) today is down -0.44%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.74%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.72%. June E-mini S&P futures (ESM26 ) are down -0.38%, and June E-mini Nasdaq futures...

Reason

The War Comes for Your Wallet: Inflation Hits 3.8%, Highest Level in 3 Years

Prices are now rising faster than wages, just like during much of the Biden years. The war in Iran is largely to blame.

The Economic Times

Why is BTC falling? Will Bitcoin price go up today as crypto market loses $23 billion amid Iran tensions and oil fears?

The crypto market lost nearly $23 billion in value within hours as Bitcoin price slipped below $81,000 and investor fear returned across global markets. The total crypto market cap dropped to $2.67 trillion while Bitcoin failed to break above a major resistance zone near $83,600. That rejection changed market sentiment…

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Kiplinger

April CPI Report: Higher Energy Prices Keep Inflation Hot

The ongoing conflict in the Middle East is having a major impact on inflation, with April's annual rise in headline CPI the fastest since 2023.

Barchart

Oil is Inching Up - One Play is to Short Chevron Calls and Puts Over the Next Month

June WTI futures prices are slowly moving higher, over $99 today. One profitable play is to sell short out-of-the-money one-month Chevron calls and puts. I discussed this last month, and it has worked out.

Fortune

Current price of oil as of May 12, 2026

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

Radio France Internationale

Uganda's Museveni sworn in for seventh term as succession question looms

Uganda’s President Yowrei Museveni has been sworn in for a seventh – and possibly final – five-year term in office, as the country prepares to become an oil producer by the end of the year.

Barchart

Cotton Pulling Back Early on Tuesday

Cotton prices are down 95 to 110 points so far on Tuesday morning. Futures rallied 152 to 304 points across most contracts on Monday, with some deferreds lower. The US dollar index was $0.016 higher at $97.800. Crude oil was up $2.83 at $98.25 on Monday. NASS Crop Progress data...

The Economic Times

India 10-year bond yield hits 5-week high on rising oil and war jitters

Hopes for a deal dimmed after Donald Trump said ‌a ceasefire with ⁠Iran was "on ⁠life support". Concerns about oil supply deepened after a senior officer in Iran's Islamic Revolutionary Guard Corps Navy said Tehran had expanded its definition of the Strait of Hormuz into a "vast operational area" far…

Barchart

Why is Tuesday Like Christmas to the BRACE Industry?

For those who live and breathe only because the government is benevolent enough to bestow imaginary numbers on them, Tuesday is their day.

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