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The Latest Breaking News from Oil

Global oil supply shortfall to deepen as Hormuz reopening remains elusive, IEA says

Global oil supply will fall by 4.3 million barrels daily this year. Renewed Middle East hostilities are disrupting supplies and deepening the oil market deficit. This year's expected supply drop compares with earlier forecasts and is significant. The International Energy Agency expects a deficit of 1.8 million barrels daily over…

The Economic Times

Ukraine halts strikes on tankers using Russian port at US request: Report

Ukraine has halted drone attacks on oil tankers following a US request. This action came after concerns about market destabilization and harm to American firms. The United States urged Ukraine to cease targeting non-Russian vessels and infrastructure. Ukraine agreed to refrain from attacking CPC infrastructure and non-Russian vessels. This move…

The Economic Times

Global oil supply under threat as Iran war sees stockpiles plummet

IN FULL

The Independent UK

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From grey water to cool spaces: 10 climate crisis policies Britain needs right now

Rejecting North Sea drilling licences and protecting nature are just some measures Andy Burnham must implement to ready country

The Guardian - UK

The UCI is boasting the green credentials of a race sponsored by host country's largest oil company – how environmentally friendly is ‘The Green Breakaway’?

The UCI praises the Arctic Race of Norway’s pioneering use of electric vehicles. However, as Matt Rendell reports, that’s not even half the story

Cycling Weekly

Edible oil prices up due to West Asia crisis, but availability 'adequate': Govt tells Parliament

Global and domestic edible oil prices have risen due to the West Asia crisis. Higher crude oil prices and biofuel demand reduced export availability significantly. However, India's edible oil availability remains adequate through usual import routes. Retail prices for groundnut and mustard oils have seen notable increases recently. The government…

The Economic Times

Ukraine’s ‘unique’ nighttime strike rattles Russia’s Black Sea base

Ukrainian forces conducted a significant nighttime operation targeting a major Russian naval base. Drones and missiles struck air defenses, piers, and port infrastructure in Novorossiysk. Russian air defenses reported downing hundreds of Ukrainian drones overnight. Meanwhile, Russia launched numerous drones and missiles at Ukraine. These attacks caused damage and casualties…

The Economic Times

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US consumer prices increase as expected in July

U.S. consumer prices saw a slight increase in July, which could impact Federal Reserve rate decisions. Core inflation also gained marginally, following a previous decline in June. Markets had anticipated a higher chance of a September rate hike before this report. However, the Federal Reserve will still review August data…

The Economic Times

As oil profits skyrocket, calls for windfall taxes rise

When Chevron reported its highest quarterly profit in six years on July 31, 2026, it was just one detail in a larger picture: Analyst firm Wood Mackenzie estimates the global oil and gas industry is on course for a cash windfall of US$495 billion in 2026. That’s profit above and…

The Conversation

Cotton Posting Gains on Wednesday Morning

Cotton prices are up 25 to 40 points on Wednesday morning. Futures posted gains of 20 to 53 points across most front months, with deferreds down 27 to 33 points. Crude oil was up $0.1.10 per barrel, with the US dollar index $0.003 lower. Weekly Crop Progress data showed 65%...

Barchart

The IEA Had Already Reduced Its Oil Demand Forecast. It Has Done So Once More.

The International Energy Agency said global oil demand will drop by 1.6 million barrels a day this year, a significant increase compared to the previous figure.

International Business Times

India bonds flat, major move likely only after US inflation data

Indian government bonds remained mostly stable on Wednesday, with traders eyeing important US inflation statistics expected later that day. The local retail inflation for July edged up to 4.45 percent, while oil prices declined slightly following news of a ceasefire extension. Overnight index swap rates showed little change, reflecting expectations…

The Economic Times

A Prolonged Hormuz Closure Could Send Crude to $140 As U.S.-Iran Deal Remains Elusive

Oil prices remain far below the surge above $100 a barrel last month and the peak of more than $110 reached in May, but analysts say the relative calm may become increasingly difficult to sustain.

International Business Times

Current price of oil as of Aug. 12, 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 Guardian - UK

Steal This Story, Please! review – Amy Goodman, stalwart of the American left, shows her teeth

This comprehensive documentary about the Democracy Now! radio show host and seasoned investigative reporter takes in a massacre in East Timor, the actions of oil giants and a flustered Bill Clinton as it reflects her vital work

The Economic Times

Global Market: Euro zone bond yields dip ahead of US CPI, heavy debt supply

Euro zone government bond prices edged higher as investors remained cautious ahead of key U.S. inflation data and a heavy pipeline of new bond supply. Renewed tensions in the Middle East and rising oil prices added to inflation concerns, while German Bund yields eased. Markets also remained focused on upcoming…

The Economic Times

Global Market: European shares subdued as investors assess earnings, geopolitical risks ahead of US inflation data

European shares traded largely flat as investors assessed mixed corporate earnings, rising oil prices and renewed geopolitical tensions ahead of key U.S. inflation data. Energy stocks led gains, while automobiles and parts declined. Investors remained cautious amid concerns over inflation, global trade and the outlook for interest rates.

The Economic Times

Why did market fall today? N Chandra’s exit among 3 factors behind 188-pt Sensex slide; Nifty below 24,450

Indian equities extended losses on Wednesday, with Sensex falling 188 points and Nifty declining 36 points, amid pressure on Tata Group stocks following N Chandrasekaran’s resignation and rising oil prices. IT stocks led sectoral declines, while PSU banks gained. Broader markets were mixed, with volatility easing as India VIX declined…

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The Economic Times

Global Market: Japanese bond yields rise as traders price September BOJ rate hike

Japanese government bond yields rose on Wednesday as markets increasingly priced in a September Bank of Japan rate hike. The benchmark 10-year yield climbed to 2.85%, while the two-year yield hit its highest level since 1995. Higher oil prices added to inflation concerns, while investors awaited U.S. inflation data for…

Benzinga

Energy Secretary Chris Wright Says Hormuz Oil Flows Surpass Prewar Levels as US, Gulf Allies Step Up Coordination—Trump Claims ‘100% Control’ of the Strait

Energy Secretary Chris Wright highlighted a significant increase in the average daily oil flow through the Strait of Hormuz over the past week.

The Economic Times

India bonds hemmed in by oil worries ahead of inflation data

On Wednesday morning, Indian government bonds exhibited limited fluctuations due to high oil prices and anticipation of inflation data. The market reacted cautiously as hopes for peace in the Middle East dwindled following recent maritime incidents. Investors remain attentive to domestic and US inflation indicators, which will likely influence future…

The Guardian - UK

Global energy watchdog warns oil stockpiles ‘rapidly depleting’ – as it happened

The International Energy Agency calls for urgent reopening of the strait of Homuz amid ongoing pressure on global oil supplies

Fortune

Iran wants a mafia-style ‘protection’ toll on the Strait of Hormuz, but the eye-popping $20 billion per year haul is a pipe dream

Details of any tolling or voluntary fee system are unlikely to be finalized in any potential interim deal, further delaying a permanent peace solution.

Fortune

Kalshi's CEO is racing to build a futures market for AI's most precious resource, which could be worth $100 trillion by 2030

Compute is the new oil—but building its futures market may be just as messy.

Euronews

World markets mixed as oil and gold rise ahead of US inflation data

Oil prices climbed and Wall Street pulled back from record highs, while South Korea's Kospi surged more than 4% on renewed chip-buying, as markets brace for a crucial US inflation reading.

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