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The Latest Breaking News from Oil

The U.S. Is Maintaining Its Naval Blockade On Iran With No Deal In Sight. Oil Is Rising.

Oil is rising on Monday as a deal to reopen the Strait of Hormuz remains elusive.

International Business Times

Cotton Extending Gains to Monday Morning

Cotton price action is up 2 to 29 points so far on Monday AM trade. Futures saw gains of 120 to 130 points on Friday with December up 261 points on the week. Crude oil was up 21 cents per barrel, with the US dollar index $0.308 lower. Friday afternoon’s...

Barchart

ONGC, Shell India ink pact to explore deepwater blocks, LNG sourcing

ONGC and Shell Energy India have signed a non-binding agreement for exploration. They will explore deepwater and ultra-deepwater oil and gas opportunities together. The companies will also assess potential liquefied natural gas sourcing options. This collaboration aims to enhance India's energy security and domestic resource development. The partnership supports India's…

The Economic Times

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Current price of oil as of August 10, 2026

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

Fortune

Indian bonds steady as soft US data offsets oil rise

Indian government bonds were largely steady on Monday as softer US jobs data supported expectations of lower US rates, while rising crude prices capped gains. The benchmark 6.94% 2036 bond yield eased to 6.7594%. Investors are also watching upcoming Indian and US inflation data for fresh interest-rate cues.

The Economic Times

India's Russian crude imports hit record for second straight month

India's Russian crude oil imports reached a record in July, increasing by 2.1 percent. This surge was primarily fueled by smaller import terminals across the country. Larger terminals like Jamnagar saw stable volumes, while Paradip experienced a decline. India remains a significant buyer of Russian fossil fuels, second only to…

The Economic Times

Rupee weakness cushioned by central bank intervention, shorts grow wary

The Indian rupee ended the day with minimal fluctuations, influenced primarily by oil market dynamics and moves from the central bank. State-owned banks reportedly intervened by supplying dollars on behalf of the Reserve Bank of India, helping to buffer the currency against rising oil costs and global tensions. Traders are…

The Economic Times

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‘It wasn't a rock’: Roman shipwreck over 2,000 years old discovered off Sicily

What first appeared to be a large rock on the seabed near Mazara del Vallo turned out to be an ancient Roman shipwreck believed to be more than 2,000 years old. The vessel was discovered with hundreds of amphorae, tall ceramic jars used in ancient times to transport goods including…

The Times of India

India expands LNG sourcing from 6 to 15 countries to cut supply risks: Govt

India has nearly trebled its liquefied natural gas suppliers to fifteen countries. The nation also broadened its crude oil sourcing network to forty-one countries. This diversification reduces dependence on any single supplier or transit route. India is also expanding its strategic petroleum storage capacity to manage supply shocks. These measures…

The Economic Times

Retailers’ cooking gas losses dip in August, but government dues top Rs 59,000 crore

Fuel retailers' revenue loss on subsidized LPG narrowed to Rs 188 per cylinder in August. This marks a sharp decrease from the Rs 500 loss reported in the previous month. The government paid Rs 30,000 crore to clear past subsidy dues. However, outstanding payments to retailers still exceed Rs 59,000…

The Economic Times

Stocks Set for Muted Open as Oil Rises on Hormuz Uncertainty, U.S. Inflation Data Awaited

September S&P 500 E-Mini futures (ESU26) are up +0.02%, and September Nasdaq 100 E-Mini futures (NQU26) are up +0.12% this morning, pointing to a muted open on Wall Street as oil prices rose amid growing doubts that the Strait of Hormuz will reopen anytime soon.

Barchart

Global Market: European shares hold steady as Hormuz uncertainty keeps oil prices elevated

European shares were broadly flat on Monday as uncertainty over the Strait of Hormuz kept oil prices elevated. Investors awaited key economic data and monetary-policy signals, while strong corporate earnings and expectations of lower U.S. borrowing costs supported sentiment. Energy and technology stocks gained, but geopolitical risks and elevated crude…

The Economic Times

Global Market: China bears the brunt of Asia’s crude oil demand cut as Middle East supplies shrink

China is bearing the brunt of Asia’s crude oil demand slowdown as Middle East supplies shrink following the Iran conflict. Chinese crude imports fell sharply in June and July, despite a recovery in July. August shipments are expected to improve, but September could offer a clearer picture of supply disruptions.

The Economic Times

Can a Trump-Linked Oil Firm Drill in Greenland? Officials Issue Clear Warning

Greenland's government warns a Trump-linked oil firm against unauthorised drilling, highlighting the territory's control over its resources amid growing global interest.

International Business Times UK

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The Guardian - UK

Ukraine confirms strikes on oil refinery in Russia’s Tatarstan – as it happened

Volodymyr Zelenskyy says that strikes on such facilities were directly linked with putting more pressure on Moscow

The Economic Times

$48 billion profit! 5 global oil majors cash in on oil surge amid Iran war. Where is money flowing?

Five global oil majors — Exxon Mobil, Chevron, BP, Shell and TotalEnergies — posted a combined $48 billion profit in Q2, benefiting from oil prices surging above $100 a barrel amid US-Iran hostilities. Their combined cash generation hit a record $90 billion, surpassing levels seen after Russia’s 2022 invasion of…

The Economic Times

Vedanta Oil and Gas shares surge 12% to fresh record high. What should investors do?

Vedanta Oil and Gas shares rose sharply on Monday after CRISIL upgraded the company’s long-term credit rating. The company reported a sharp turnaround in Q1 FY27, posting a net profit of Rs 945 crore. Here’s a look at its financial performance, growth plans and key factors investors should consider.

Euronews

One of Kyiv's deadliest single attacks kills 13 in central Russia while five are killed in Ukraine

Kyiv has delivered one of its deadliest attacks since the beginning of the war, killing 13 people and wounding 75 in a strike in Tatarstan, deep inside Russia. Near the front line in the Kharkiv region, Russian strikes killed five in Ukraine.

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The Times of India

500-year-old island with 22 billion barrels of oil mysteriously vanished from the ocean: Mexico’s ghost island of Bermeja

Isla Bermeja is recorded in history as a small, rocky island located in the Gulf of Mexico, almost 100 kilometres off the coast of the Yucatán Peninsula. For over 400 years, it was a fixed visible point on official maps, situated at the coordinates 22 degrees 33 minutes north and…

The Times of India

12 killed, 39 injured as Ukrainian drones strike civilian sites, oil refinery in Russia

At least 12 people were killed and 39 others injured in a Ukrainian drone attack on industrial and civilian targets in Nizhnekamsk, a city in Russia’s Tatarstan region that is home to a major oil refinery, Mayor Radmir Belyayev said on Monday.

The Economic Times

Ukraine kill 13, including a child, injures 39 in drone strikes on Russian city of Nizhnekamsk: Mayor

A Ukrainian drone attack on Nizhnekamsk killed thirteen people and injured thirty-nine. The strike targeted industrial and civilian sites, including a major oil refinery. Russian investigators have opened a criminal case, calling the incident a terrorist attack. Ukraine has intensified strikes on Russian oil facilities recently. Both nations accused each…

The Economic Times

Rupee anchored by central bank hand, traders watchful of oil ructions

The stability of the Indian rupee was evident on Monday, thanks to the proactive measures taken by the central bank. State-run banks actively provided dollars, reflecting an intervention strategy to uphold currency stability against the backdrop of surging oil prices and the demand from forward contracts. The Reserve Bank of…

Benzinga

JB Pritzker Demands Big Oil Return 'Windfall Profits' as Iran’s Hormuz Demands Threaten Another Gas Price Spike

Gov. Jay Robert ‘JB’ Pritzker (D-IL) has demanded that oil companies like Chevron Corp. (NYSE:CVX), ExxonMobil Holdings Corp. (NYSE:XOM), ConocoPhillips (NYSE:COP) and others commit to returning Iran war-induced profits to consumers.

International Business Times UK

Oil Prices Rise on Iran-Oman Deal Hopes Despite Hormuz Stalemate

Oil prices are fluctuating due to diplomatic tensions over the Strait of Hormuz, with traders reacting to signals from Tehran, Washington, and Muscat rather than supply-demand fundamentals.

Euronews

Can the EU stop Europe from running out of water? Ask the Euronews AI chatbot

Record temperatures are draining Europe’s water supply. With rivers at historic lows, drier soils, and severe water restrictions, concerns over the bloc’s water scarcity are growing. But what is the EU’s plan? Ask the Euronews AI chatbot.

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