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The Latest Breaking News from Oil

4 Oil and Gas ETF Plays as Prices Stay Sky-High

With oil and gas prices elevated amid the Iran conflict, investors can consider ETFs like UGA, USOY, OILU, and PXJ, each offering distinct risk levels and strategies for energy exposure.

MarketBeat

Cotton Holding Steady at Midday

Cotton futures are holding near unchanged on Thursday, with contracts down 5 to 5 points higher in the nearby months. Crude oil is back up $2.81 per barrel, with the US dollar index $0.304 higher. Export Sales data showed net cancellation of 55,855 RB of 2025/26 cotton in the week...

Barchart

Soybeans Slipping Slightly on Thursday

Soybeans are trading with most contracts fractionally to a penny lower on Thursday. The cmdtyView national average Cash Bean price is down 1/2 cent at $11.28 1/2. Soymeal futures are up 50 to 70 cents so far on Thursday with Soy Oil 10 points higher to down 37 points. There...

Barchart

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US is set to import most Middle East crude since Iran war began

US crude imports from the Middle East are reaching their highest levels since the Iran war began. This surge is driven by a brief Strait of Hormuz opening and Saudi oil rerouting. Saudi Arabia is sending crude through the Suez Canal to the United States. This redirection has tightened supplies…

The Economic Times

Ahead of Market: 10 things that will decide stock market action on Friday

Indian markets found support from easing crude oil prices and the RBI's stable policy outlook despite range-bound trade. Analysts said Nifty holding above 24,600 keeps bullish momentum intact, with improving earnings expectations and stock-specific buying supporting broader market resilience.

The Economic Times

Crude Oil Prices Jump on Uncertainty Over Middle East Supplies

September WTI crude oil (CLU26 ) is up +1.83 (+2.43%) today, and September RBOB gasoline (RBU26 ) is up +0.0777 (+2.74%). Crude oil and gasoline prices are climbing today on uncertainty regarding a proposed plan by Iran and Oman to reopen the Strait of Hormuz. Also, a reported missile attack...

Barchart

India cuts energy import dependence to 42%, oil imports still meet 90% of demand: CII-EY

India's primary energy import dependence has decreased to forty-two percent by FY25. Crude oil imports still meet nearly ninety percent of domestic demand. Natural gas import dependence has increased to about fifty percent. Coal import dependence has fallen to around eighteen percent due to production. Energy security requires clean energy…

The Economic Times

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Russia's oil output rises in July on firm exports, refinery run recovery, sources say

Russia's crude and condensate output rose in July, exceeding nine million barrels daily. Strong oil exports and refinery recovery supported this production increase. However, future output levels are unlikely to be maintained in August. Drone attacks on refineries and tanker capacity issues could force production cuts. Russia plans to boost…

The Economic Times

Dollar Gains on Favorable US Economic News

The dollar index (DXY00 ) is up by +0.17% today. The dollar is moving higher today on some favorable US economic news. Weekly jobless claims rose less than expected, Q2 nonfarm productivity rose more than expected, and Q2 unit labor costs rose less than expected. The dollar also has support...

Barchart

India's fuel demand increased 2.9% in July, with gasoline and diesel sales showing strong growth

India's overall fuel demand saw a 2.9% increase in July compared to last year. Gasoline consumption climbed 9.2%, while diesel usage rose by 10.0% during the same period. Naphtha and cooking gas sales experienced a notable decrease in July. Bitumen sales for road construction showed an 8.5% increase. Fuel oil…

The Economic Times

Brent crude tops $80 per barrel as Hormuz talks, tanker attacks keep supply risks high

Oil prices climbed as investors tracked Iran-Oman shipping talks and fresh attacks on Saudi oil tankers, raising supply concerns. Brent topped $80 a barrel while traders remained cautious over Strait of Hormuz developments and persistent geopolitical risks affecting global energy markets.

The Economic Times

Florida woman flight instructor safely lands an aircraft on busy Interstate 10 after engine trouble, then tells drivers, "My fault for the traffic guys"

A 21-year-old Florida flight instructor is being hailed as a hero after safely landing a single-engine aircraft on busy Interstate 10 near Pensacola when an in-flight engine emergency left her with no chance of returning to the airport. Emily Shelton was conducting a training flight with a student on August…

The Times of India

Iran Reportedly Threatens Gulf States With More Strikes If Trump Doesn't End Attacks. Oil Rises.

Oil is rising on Thursday even as discussions to reopen the Strait of Hormuz appear to be making progress.

International Business Times

ConocoPhillips CEO Ryan Lance steps down after 14 years, promoting his replacement internally

Ryan Lance has been ConocoPhillips’s only CEO since the oil giant separated from Phillips 66 in 2012.

Fortune

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Barchart

Cotton Kicking Off Thursday with a Slight Correction

Cotton prices are trading with Thursday morning losses of 3 to 6 points. Futures were back up 48 to 71 points across the board at the Wednesday close. Crude oil was down 69 cents per barrel, with the US dollar index down $0.189. The NOAA 7-day QPF shows dryness continuing...

The Economic Times

US sanctions pushing Cuba into full-blown crisis: UN experts

A group of independent UN human rights experts has urged the international community to act quickly to prevent US sanctions from pushing Cuba into a "full-blown crisis." The experts said tighter US measures, including an effective oil blockade, have worsened shortages of food, medicine and fuel, disrupted essential services and…

The Economic Times

Why people are using aluminium foil for stove burners: How to use this viral kitchen hack that’s low-cost, easy, and keeps your stove clean effortlessly

Many households worries with keeping their stove burners spotless. Using aluminium foil can be a simple and cost-effective remedy to tackle kitchen messes. This smart hack serves as a shield against spills, making clean-ups much quicker and easier. It’s an economical choice that helps maintain the stoves' appearance, though it’s…

The Times of India

New York recycled almost 5,000 discarded toilets into artificial oyster reefs beneath Jamaica Bay instead of sending them to landfill; know why

New York City repurposed nearly five thousand old toilets into artificial reef structures. These porcelain fixtures now provide a base for juvenile oyster growth in Jamaica Bay. Oyster reefs are vital for filtering pollutants and improving water quality in New York Harbour. Decades of pollution and overfishing had previously destroyed…

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The Times of India

Watch: Smoke engulfs Russian city after Ukraine targets two oil refineries in long-range attacks

A major oil refinery in Russia's Yaroslavl region caught fire following a drone attack, with Ukrainian President Volodymyr Zelenskyy claiming Kyiv had struck two oil-processing facilities deep inside Russian territory as part of its campaign to weaken Moscow's war economy.

Fortune

Current price of oil as of Aug. 6, 2026

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

The Times of India

In 1918, oil transformed a Texas farming hamlet from 340 people to 16,000 almost overnight; four years later, the boom was over

A Texas farming town named Desdemona experienced a dramatic transformation after oil was discovered in 1918. Its population surged from a few hundred to thousands seeking fortune in the oilfields. However, overdrilling led to a sharp decline in oil production and the boom's end by 1922. The rapid growth brought…

The Guardian - UK

Sir Ian Wood obituary

Aberdonian businessman whose company became one of the biggest players in the offshore oil and gas industry

The Independent UK

How Ukraine hit two Russian oil refineries in long-range attacks

IN FULL

The Economic Times

As Iran war drags on, Americans are bracing for more chaos in Middle East, Reuters poll finds

According to recent surveys, many Americans fear that the ongoing U.S. war with Iran could destabilize the Middle Eastern region. Disruptions in oil supplies are expected to push gasoline prices upward. Public sentiment reflects frustration with how the conflict is being managed, with a shift towards Democrats for economic and…

The Economic Times

Indian rupee slips on importer bids, far forward premiums ease to one-month low

On Thursday, the Indian rupee ended slightly lower against the dollar, impacted by continuous demand from importers hedging their positions. While falling oil prices helped bolster market sentiment, the rupee has enjoyed recent appreciation thanks to central bank interventions. Analysts are now forecasting possible interest rate increases by the Reserve…

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