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The Latest Breaking News from Oil

Rs 1,600-1,700 cr a day, Rs 1 lakh cr in 10 weeks: Cost of insulating India from global energy shock

State-owned oil firms are incurring massive daily losses, estimated at Rs 1,600-1,700 crore, to shield Indian consumers from global energy price shocks. This has led to over Rs 1 lakh crore in under-recoveries in 10 weeks, raising concerns about their financial sustainability and the need for potential price hikes.

The Economic Times

FMCG companies bracing for another round of price increases amid inflation

Daily-use products such as soaps, detergents, biscuits, packaged foods and beverages are likely to become costlier as FMCG companies prepare calibrated price hikes amid rising crude oil-linked inflation, higher packaging costs and increasing fuel expenses.

The Economic Times

Crude oil prices likely to stay higher for longer: ADB Chief Economist

Crude oil prices are set to remain high due to the Middle East crisis. This will affect India's economy, lowering GDP growth in FY27. Inflation is also expected to rise significantly. Weather disruptions and fertilizer costs could further impact food prices. India's reliance on imported oil makes it particularly vulnerable…

The Economic Times

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‘Missiles, drones locked on US targets’: Iran warns of ‘heavy assault’ after tanker strikes in Gulf of Oman

Iran's IRGC has warned of a "heavy assault" on US military assets and ships if Iranian oil tankers or commercial vessels are attacked in the Strait of Hormuz. This follows US forces disabling two Iranian oil tankers in the Gulf of Oman and an earlier exchange of fire near the…

The Times of India

Oil-based products are everywhere, from fertiliser to fashion. What are the alternatives?

Substituting the petrochemicals that underpin everyday life is challenging, but there are ways to produce what we need without fossil fuels

The Guardian - AU

U.S. Sanctions Nine Chinese and Hong Kong Entities for Arming Iran — Days Before Trump's Summit With Xi

Whether Trump raises the sanctions directly with Xi next week — or whether Beijing uses them as a negotiating chip — may say more about the true state of U.S.-China relations than any summit communiqué.

International Business Times

Spiritless summer: Americans feel squeeze of costly fuel amid busy travel season

Soaring oil prices have left many Americans with higher costs and fewer options for travel amid the Iran war

The Guardian - US

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US awaiting response from Iran over proposals for ceasefire deal, says Rubio

Diplomatic efforts continue despite fighting in and around contested strait of Hormuz in recent days

The Guardian - UK

‘We are talking about energy security for Europe’: Norway doubles down on oil and gas production

Norway’s energy minister says country has a ‘responsibility’ to address shortfalls caused by wars in Ukraine and Middle East

The Guardian - UK

Home batteries: a ‘gamechanger’ for cutting energy bills?

As fuel prices soar, millions of Britons could reduce their electricity costs by installing home storage

The Guardian - UK

Food prices rise to highest in three years on Iran war costs

Consumers may face higher food bills soon. The United Nations' food-commodity price index shows significant gains, with vegetable oils, meat, and cereals leading the rise.

The Economic Times

Middle East negotiations continue as US awaits Iranian response to latest peace proposal – as it happened

Centcom says it has struck two tankers heading for Iran after Tehran warned Washington was violating fragile ceasefire; two days of ‘intensive talks’ between Israel and Lebanon slated as strikes continue in the region

The Guardian - UK

Hyperliquid Strategies Q3 Earnings Call Highlights

Hyperliquid Strategies (NASDAQ:PURR) reported a profitable fiscal third quarter, with results driven primarily by appreciation in the HYPE token and continued staking revenue, executives said on the company’s third-quarter 2026 earnings call. CEO David Schamis said the company remains “by far the l

MarketBeat

AI boom masks rising global energy risks, warns David Roche

Market veterans warn investors may be underestimating the long-term economic fallout from the Middle East energy crisis. While AI spending and US economic resilience fuel optimism, falling oil reserves and tightening supplies could lead to shortages and a significant global GDP contraction. Rising shipping costs and insurance premiums further exacerbate…

The Economic Times

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The Economic Times

Maersk CEO sees passing higher oil shock costs to customers

A.P. Moller-Maersk CEO Vincent Clerc stated the Iran war is increasing costs by $500 million monthly. These expenses will be passed to customers. Maersk expects to maintain its financial forecasts for 2026.

Euronews

Gold vs oil: Which offers better protection from rising prices during the Iran war?

Conventional wisdom holds that gold protects investors during war and inflation. The Iran conflict has turned that assumption on its head. Since the outbreak of the war, Brent crude has rallied 37%, while gold has fallen 10%. The driving force is interest rates, not geopolitics.

The Independent UK

Oil tanker arrives in South Korea after passing through the Strait of Hormuz in mid-April

A South Korean refinery says a tanker carrying 1 million barrels of crude oil arrived off South Korea’s west coast after passing through the Strait of Hormuz in mid-April

The Independent UK

Asian stocks fall and oil prices climb after attacks imperil the ceasefire with Iran

Asian stocks have retreated and oil prices climbed as the fragile ceasefire with Iran was strained by missile and drone attacks that prompted U.S. retaliatory strikes on Iranian military facilities

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The Independent UK

Oil prices rise as US and Iran exchange fire in Strait of Hormuz

Asian stocks head for stellar weekly gains despite pulling back slightly on Friday

The Economic Times

UAE says countering Iranian air attack

US-Iran war news: UAE air defences are actively responding to a missile and drone assault. Earlier, US forces intercepted Iranian attacks targeting three Navy ships. The US military also struck Iranian facilities responsible for these assaults. No ships were hit. This incident challenges the fragile ceasefire between the US and…

The Economic Times

Heat waves spell more trouble for oil-hit Asia

Asia faces a new inflation threat from El Niño as rising temperatures and dry weather are all set to increase food costs. This comes on top of existing oil price shocks. Countries like the Philippines and Pakistan are already seeing high inflation. El Niño is expected to intensify these pressures…

AAP

Shares drop, oil rebounds as US and Iran exchange fire

Hopes of a deal to end the blockade of a key oil and gas transport route are hanging by a thread, following reports the US and Iran exchanged fire overnight.

The Economic Times

Oil Price Today (May 8): Crude oil snaps three-day losing streak as Iran-US clashes stoke Hormuz fears. What are experts saying?

Oil prices surged over 1% as renewed U.S.-Iran clashes raised concerns about the Strait of Hormuz's stability, disrupting hopes for its reopening. Iran accused the U.S. of breaching a ceasefire, while Washington cited retaliation for Iranian forces firing on its vessels. Despite recent losses, the conflict's escalation could significantly impact…

The Guardian - AU

The Crunch: Hollywood dramas, Trump’s arch, and all-pervasive petrochemicals

Data crunched on the genre shrinking from cinema screens. Plus: how free public transport can exacerbate inequality

The Economic Times

Dollar firms as US-Iran hostilities flare, yen steadied by intervention risk

Global markets saw the dollar strengthen on Friday due to renewed US-Iran hostilities. Oil prices surged, increasing risk aversion. The Japanese yen remained stable as Tokyo issued verbal warnings against sharp declines. Investors are now focused on the upcoming US non-farm payrolls report. Sterling faced its first weekly loss since…

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