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The Latest Breaking News from Oil

The likely loser in Gulf's post-war race for oil market share

United Arab Emirates is leading oil producers in a fierce market share battle. Saudi Arabia and other Gulf nations are increasing exports significantly. Exporters are offering steep discounts to attract buyers for their surplus crude. This aggressive push has weakened oil prices and challenged OPEC's authority.

The Economic Times

Global Market: Euro zone inflation risks persist despite oil price retreat, ECB's Schnabel warns

ECB Executive Board member Isabel Schnabel said the euro zone economy has not returned to pre-war conditions despite lower oil prices, citing persistent core inflation, energy market risks and supply chain pressures. Her remarks suggest policymakers remain cautious on inflation, while another ECB official struck a more optimistic tone on…

The Economic Times

Fuel on the fire: why oil companies are profiting as the world gets dangerously hot

The scientific consensus is that burning fossil fuels drives the climate crisis, yet the world’s biggest oil companies are planning to increase production

The Guardian - UK

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Three tankers hit in latest attacks in the Strait of Hormuz, British military says

Three tankers were struck in the Strait of Hormuz on Tuesday, the British military said, in a sharp escalation of attacks on commercial shipping through the vital waterway at the mouth of the Persian Gulf.

France 24

India bond rally pauses ahead of state debt sale

Indian government bonds traded range-bound early Tuesday, pausing a three-session rally. Traders awaited a large state-debt auction, which will sell bonds worth 213.50 billion rupees. Oil and U.S. Treasury yields trading sideways provided no fresh directional triggers for the market. Sustained foreign buying is expected to continue underpinning sentiment in…

The Economic Times

Vedanta Iron and Steel, Vedanta Aluminium, 2 other stocks drop up to 5%. What’s spooking investors?

Recently listed Vedanta stocks experienced a significant decline on Tuesday morning. Vedanta Iron and Steel shares surged sharply after a substantial investment by Premji Invest. This smallcap counter saw its market capitalization more than double before the rally lost momentum. Vedanta Aluminium shares dropped despite reporting record quarterly production figures.…

The Economic Times

Rupee rises 15 paise to 95.28 against US dollar in early trade

The Indian rupee gained fifteen paise against the US dollar in early trade. Saudi Arabia's significant slash in August crude oil prices for Asia improved market sentiment. Lower Middle East risk premiums and improved supply conditions contributed to the rupee's appreciation. Meanwhile, domestic equity markets saw an upward trend with…

The Economic Times

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India's fuel consumption drops 3.7% in June from previous month

India's fuel consumption fell approximately 3.7% in June from the previous month. Liquefied petroleum gas consumption saw a significant year-on-year decrease of over fourteen percent. Gasoline sales were down month-on-month but showed annual growth, while diesel consumption rose annually. Naphtha sales experienced a substantial year-on-year drop, and fuel oil usage…

The Economic Times

Russian cities feel the pinch amid worsening fuel shortages

Ukraine’s drone and missile campaign on oil infrastructure has brought impact of war to citizens of Moscow and elsewhere

The Guardian - UK

Market wrap: Sensex drops 104 points, Nifty closes below 24,400 as market snap 4-day gaining streak

Indian stock markets closed lower on Tuesday, ending a four-day gain. Weak global cues and rising oil prices impacted trading sentiment negatively. Foreign investors remained net buyers, providing some support to the market. IT stocks surged significantly, while broader markets experienced declines. Analysts anticipate an uptrend driven by economic growth…

The Economic Times

Oil tanker hit by 'unknown projectile' in Strait of Hormuz, British military says

Iranian state television said a liquified natural gas tanker came under attack Tuesday in the Strait of Hormuz off Oman after ignoring warnings, implying Tehran carried out the assault on a tanker it said was carrying natural gas from Qatar.

Euronews

Oil Price Today (July 7): Crude oil snaps 2-day fall as projectile hits tanker in Hormuz. Where are prices headed?

Brent crude futures rose 28 cents, or 0.39%, to $72.29 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 29 cents, or 0.26%, to $68.84 a barrel. Both benchmarks had settled close to their pre-Iran war levels on Monday.

The Economic Times

The Exact Skincare Routine for Indian Women in Their Thirties That Actually Works

What Changes in Your Thirties and Why Your Old Routine Stops WorkingSkin cell turnover slows significantly after thirty. A study published in the British Journal of Dermatology found that epidermal turnover rate declines by roughly 28% between the ages of thirty and forty, which means dead cells sit on the…

Times Life

Oil prices gain as focus shifts to supply recovery and demand

Oil prices saw slight gains Tuesday as traders focused on supply increases. Traders are looking beyond Middle East tensions to demand prospects. The United Arab Emirates increased crude output significantly in June. Saudi Arabia also cut its August crude selling price to Asia. Market watchers await demand response, especially from…

The Economic Times

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Times Life

Punjab's Real Food Trail: Villages, Street Cuisine and Authentic Flavours Beyond the Highway Dhabas

The Amritsar Nobody PhotographsThe tourist version of Amritsar ends at the Golden Temple langar and a plate of kulcha from a restaurant on Lawrence Road. The real food trail starts at Katra Jaimal Singh bazaar at 7 in the morning, where a man named Pappu has been ladling paye ki…

The Times of India

Oil tanker hit at Hormuz: US accuses Iran of attacking 2 commercial ships, mulls counter strike

An oil tanker caught fire after being struck by an "unknown projectile" while transiting the Strait of Hormuz off the coast of Oman, British maritime authorities said on Tuesday, in an incident that has heightened tensions in one of the world's most critical energy shipping routes.

The Economic Times

D-St set for a positive opening as GIFT Nifty signals firm start

Indian equity markets concluded Monday's trading session on a higher note. The Nifty index experienced a gain of 0.7 percent during the day. Market participants are now anticipating the upcoming Q1FY27 earnings season. Analysts expect gradual market gains supported by stable oil and rupee. Foreign and domestic institutional investors showed…

The Economic Times

Stocks in news: RIL, Trent, Titan, Cochin Shipyard, Nestle, Indian Oil

Markets extended their winning streak on Monday, supported by encouraging quarterly business updates. Reliance Industries received an administrative warning from Sebi regarding insider trading allegations. Trent and Titan reported strong revenue growth in their respective June quarter results. The government will sell a stake in Cochin Shipyard through an offer…

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The Guardian - AU

Ukraine war briefing: Drones strike Russia oil refinery in Siberia as Zelenskyy warns region now ‘within reach’

Ukrainian president says long-range attack an ‘important achievement’ while also pleading for better air defences. What we know on day 1,595

The Economic Times

Auto retail sales surge 22% to record 2.56 million in June; Dealers expect growth momentum to continue with rains picking up

Vehicle retail sales reached a record high in June, showing a significant year-on-year increase. This robust growth was supported by strong demand across various vehicle segments. Improved supplies and easing crude oil prices are expected to sustain this positive momentum. Two-wheeler sales saw a notable rise, with electric models gaining…

Barchart

Cotton Posts Monday Gains, as Ratings Slip

Cotton futures posted 112 to 138 point gains on Monday in the front months, with deferreds up 48 to 99 points. The outside markets were quiet, as Crude oil was down 9 cents, with the US dollar index up $0.004. Monday afternoon’s Crop Progress showed 49% of the US cotton...

Barchart

Soybeans Rally Out of the Holiday, with Chinese Rumors

Soybeans posted gains of 35 to 50 ½ cents across the front months on Monday, with defereds up 23 to 32 cents. The cmdtyView national average Cash Bean price was up 47 1/4 cents at $11.36 3/4. Soymeal futures were $5.10 to $9.10 higher across most contracts, with Soy Oil...

Bangkok Post

Bangchak finalises B8.91bn acquisition of Chevron HK

Energy conglomerate Bangchak Corporation has completed its acquisition of Chevron Hong Kong, a move the company believes will strengthen its foothold in North Asia despite mounting challenges in the oil retail sector.

Pro Game Guides

All Red Button Locations in Mini War – Roblox

Players can locate all five red buttons near the coastal and central areas of the map. Pressing the buttons is crucial in spawning certain NPCs on the map

The Independent UK

Alberta and Ontario propose a pipeline to carry western Canada's oil to the east

The premiers of Alberta and Ontario have proposed a pipeline to carry western Canadian oil to the country's east as Canada seeks new markets

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