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The Latest Breaking News from Oil

What Garuda Purana Reveals About Sin Will Shock You

Most people have heard about heaven and hell. But very few know about a place in Hindu scriptures that is considered one of the most terrifying realms of punishment. Its name is Kumbhipak Narak. The very mention of it creates fear and curiosity. According to the Garuda Purana, this Narak…

MyLifeXP

Ukrainian drones hit St. Petersburg oil terminal ahead of 'Russian Davos'

Ukrainian long-range drones have struck an oil terminal in St. Petersburg, setting it ablaze, according to President Volodymyr Zelenskyy

AAP

Ukraine hits St Petersburg oil depot before Putin visit

Ukrainian drones have struck an oil terminal and naval base in St Petersburg hours before President Vladimir Putin's showcase economic forum gets under way.

AAP

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Airlines' fuel, vehicle replacement & roadways in focus as Cabinet announces key decisions worth Rs 30,290 crore

The Union Cabinet has approved significant development initiatives totaling Rs 30,290 crore. A key focus is providing Rs 10,000 crore in budgetary support to Oil Marketing Companies. This aims to stabilize Aviation Turbine Fuel prices for Indian airlines. This measure addresses the current fuel price volatility. The support will help…

The Economic Times

Fire engulfs St Petersburg oil terminal amid large-scale Ukrainian drone attack in Russia

A major fire broke out at an oil terminal in Russia’s St Petersburg port following a Ukrainian long-range drone attack on Tuesday night. Explosions reportedly continued into the early morning hours and the blaze spread further. Numerous videos circulating online captured loud blasts, large flames and thick columns of black…

The Times of India

Ukrainian drones hit St Petersburg as ‘Russian Davos’ opens in city

Energy and military sites targeted as guests gather for economic forum where Putin is due to speak on Friday

The Guardian - UK

Putin’s ‘Russian Davos’ attacked by Ukrainian drones as St Petersburg oil port targeted

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The Independent UK

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RBI MPC Meeting June 2026: Check date, time, expectations and where to watch Governor Sanjay Malhotra's speech live

RBI MPC Meeting June 2026: The Reserve Bank of India's Monetary Policy Committee begins a crucial three-day meeting, with a policy announcement expected on June 5. Markets are closely watching for signals on interest rates amid rising crude oil prices and rupee pressure, though inflation remains contained. Economists largely anticipate…

The Economic Times

World shares are mixed as Tokyo's Nikkei 225 follows Wall Street to an all-time high

Shares have opened lower in Europe

AAP

Drone race: How Ukraine's defence tech redefined Russia's war

In its most recent attacks against Ukraine, Russia hit the cities with dozens of ballistic missiles, knowing very well that this is one of the very few weapons Ukraine remains vulnerable to. As for the drones — this is where Kyiv mastered both defensive and offensive know-how.

Euronews

Ukrainian drones set fire to a St. Petersburg oil terminal ahead of Putin visit

Ukrainian long-range drones have struck an oil terminal in St. Petersburg, setting it ablaze, according to President Volodymyr Zelenskyy

AAP

India tightens checks on overseas flows as currency pressure mounts, sources say

India's central bank and markets regulator are intensifying scrutiny on overseas investments by firms and family offices, issuing multiple queries to detect potential misuse of investment routes. This move comes amid pressure on the rupee from rising oil prices and foreign outflows, prompting a focus on capital outflow pace and…

The Economic Times

NATO chief in Kyiv says Russia is 'increasingly desperate'

NATO chief Mark Rutte said in Kyiv on Wednesday that Russia was growing desperate as it faced mounting military and economic difficulties in its four-year-long invasion of Ukraine. Earlier, Kyiv launched drone attacks on the Russian city of St. Petersburg where officials and visiting dignitaries were gathering for a flagship…

France 24

Hostilities flare in Iran war, oil jumps with talks at a stalemate

CAIRO/WASHINGTON - Gulf hostilities flared again on Wednesday, with an Iranian missile attack damaging Kuwait's airport and the U.S. military carrying out strikes near ‌the Strait of Hormuz, as diplomacy between Washington and Tehran showed little progress.

Bangkok Post

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AAP

Environmental bypass to fast-track oil project

A state deputy premier will have the power to override environmental and heritage laws in a move slammed by the opposition and a conservation group.

The Guardian - UK

OECD predicts spate of recessions globally if Iran conflict drags into 2027

Policy forum lays out ‘prolonged disruption’ scenario in which world’s GDP falls to 2.1% this year from 3.4% in 2025

The Economic Times

Crude, LPG supply to India smoothens in May after two glitchy months; LNG supply beats pre-war levels

In May, India's oil and gas imports showed clear signs of recovery after recent setbacks, with crude oil inflows rising, though they have not yet reached the robust numbers seen in February. Natural gas supplies saw a notable upswing, going past pre-war levels.

The Economic Times

Silver down Rs 700/kg, gold opens flat as Mideast tensions, rising oil prices dent sentiment. What should you do?

Gold and silver prices opened lower on the MCX on Wednesday as escalating Middle East tensions pushed crude oil prices higher, raising concerns that persistent inflation could delay interest rate cuts. In the previous session, both precious metals had ended with modest gains, with silver rising 0.13%.

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The Times of India

Video shows moment Hellfire missile cripples tanker bound for Iran's Kharg Island

The United States military disabled the Botswana-flagged oil tanker M/T Lexie in international waters after the vessel allegedly ignored repeated warnings and continued sailing towards Iran's Kharg Island, the US central command said. It also released the video from when a US aircraft struck the ship.

The Independent UK

Iran-US war latest: Israel and Lebanon agree ceasefire as US House votes to limit Trump’s war powers

Representatives from Israel and Lebanon will reconvene in the week of June 22

The Economic Times

Sensex tumbles over 1,100 points, Nifty below 23,200. 6 key factors behind today's D-Street rout

Indian stock markets experienced a significant downturn on Monday, with benchmark indices Sensex and Nifty falling over 1% each. Rising Iran-US tensions, persistent FII selling, and a surge in oil prices contributed to a broad-based selloff, wiping out over Rs 3 lakh crore from market capitalization. IT stocks also saw…

The Economic Times

Petrol, Diesel Price Today (June 3): Check fuel rates in Delhi, Kolkata, Mumbai, Chennai, Gurgaon and other cities

Petrol, Diesel Price Today: Fuel prices across India remained stable on June 3, with no significant changes reported in major metro cities for petrol and diesel. Despite global crude oil fluctuations, oil marketing companies maintained current retail rates, offering commuters temporary relief. CNG prices also saw no hikes, contributing to…

The Economic Times

Rising crude and aluminium prices: Bharat Subramanian on what it means for India's energy and metals sectors

Geopolitical tensions in West Asia are driving up oil and aluminium prices. This benefits upstream oil explorers while squeezing oil marketing companies. Analysts see a potential new commodity upcycle. Aluminium prices are expected to peak next year. China's demand remains a key factor for global commodities. Investors are watching for…

The Independent UK

Tokyo's Nikkei 225 index tops 68,000 for the 1st time as Wall Street logs more records

Japan's Nikkei 225 index has topped 68,000 in early trading after U.S. stocks pushed further into record territory

The Economic Times

Oil Price Today (June 3): Crude oil nears $100 again as Iran launches attack in fresh escalation. What are experts saying?

Middle East tensions escalated as Iran launched missiles, prompting U.S. strikes and rattling oil markets. Brent and WTI crude prices saw a notable increase. Diplomatic efforts between Tehran and Washington remain stalled, with mixed signals on negotiations. The strategic Strait of Hormuz remains a key focus for traders amid ongoing…

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