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The Latest Breaking News from Oil

US Treasury yields fall as oil retreats on Iran deal hopes, Fed hike bets ease

On Tuesday, US Treasury yields saw a decline following a sharp drop in oil prices. As optimism regarding a resolution to the Iran conflict grew, inflation worries lessened. Consequently, traders adjusted their predictions for a Federal Reserve interest rate increase in September, leading to significant reductions in two-year and ten-year…

The Economic Times

Oil spill from grounded tanker off Oman expands sharply, satellite images show

An oil spill from a sanctioned tanker off Oman is expanding dramatically, reaching shorelines and spreading far out to sea

The Independent UK

'White House Set To Extend Jones Act Waiver As Trump Hunts For Cheaper Gasoline' - Reuters Exclusive

WASHINGTON/HOUSTON, Aug 4 (Reuters) - The White House is expected to extend a waiver of the century-old Jones Act in the coming days, sources say, reaching for one of the few tools it has to try and hold down gasoline prices as President Donald Trump escalates his attacks on Exxon…

Benzinga

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Analysts recommend defensive equities

Thai investors should focus on defensive stocks, particularly energy producers and banks with strong company-specific catalysts, as escalating geopolitical tensions and expectations of prolonged high interest rates reshape market sentiment, according to analysts.

Bangkok Post

BP boss is unsentimental in pruning portfolio and clear on North Sea advice to Burnham

Meg O’Neill is overseeing rapid clearing of the decks at BP after strategic muddle of recent years, with ‘message’ for new PM

The Guardian - UK

Revealed: major oil firms make $93bn profits amid war and climate crisis

Iran conflict windfall over three months reignites calls for companies ‘cashing in on human misery’ to pay for environmental damage

The Guardian - UK

Cotton Facing Turnaround Tuesday Weakness

Cotton futures are down 25 to 30 points in most contracts, with October down 129 points. Crude oil was down $4.30 per barrel, with the US dollar index back up $0.014. The Monday Crop Progress report showed 88% of the US cotton crop squared as of Sunday, now even with...

Barchart

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Soybeans Falling Back Lower on Tuesday

Soybeans are falling 18 to 20 cents across the board on Tuesday, pressured by weaker products, crude and a wetter forecast. The cmdtyView national average Cash Bean price is down 18 1/4 cents at $11.29. Soymeal futures were down $2.90 to $3.10, with Soy Oil 62 to 75 points lower....

Barchart

S&P 500 Hits Record Highs, Palantir Jumps 27%: Stock Market Today

U.S. equities powered to fresh record highs by midday Tuesday as blowout guidance from Palantir Technologies Inc. (NASDAQ:PLTR) and a Caterpillar Inc. (NYSE:CAT) earnings beat reignited the AI trade, while crude oil tumbled more than 5% on growing conviction that a deal to reopen the Strait of Hormuz is days…

Benzinga

Big Oil profits surge as Iran war keeps energy prices elevated

European and Middle Eastern oil firms reported significant profit increases recently. Saudi Aramco saw its net profit climb by forty-four percent year-on-year. American energy companies also posted enormous profits last week. Consumers face higher costs for fuel and air travel globally. Oil prices have recently fallen after potential diplomatic progress.

The Economic Times

Big oil companies continue to post banner profits as fighting in Iran drives costs higher

Big oil companies continue to book massive profits as fighting in Iran disrupts energy markets and sends oil and gasoline prices sharply higher

The Independent UK

Miners prosper while oil drops on new Middle East peace hopes

The FTSE 100 index closed up 21.68 points, or 0.2%, at 10,879.38.

Evening Standard

North Sea oil is a litmus test for Burnham

Letters: John Barstow says oil expansion is a necessity, while David Parker wonders if the prime minister will protect the planet or the fossil fuel industry

The Guardian - UK

Crude Oil Prices Slump on Hopes of a Deal to Reopen Strait of Hormuz

September WTI crude oil (CLU26 ) today is down -3.77 (-4.72%), and September RBOB gasoline (RBU26 ) is down -0.1201 (-4.05%). Crude oil and gasoline prices are sharply lower today for a second day, with crude falling to a 3-week low and gasoline dropping to a 4.75-month nearest-futures low. Growing...

Barchart

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Benzinga

BP’s Q2 Profit Doubles Amid Middle East Conflict, but It Cuts Production, Capex Outlook

BP p.l.c. (NYSE:BP) stock is trading lower on Tuesday after the energy major reported second-quarter results that surpassed Street estimates.

Barchart

Stock Indices Rally on Strong Tech Earnings and US-Iran Peace Hopes

The S&P 500 Index ($SPX ) (SPY ) today is up +1.13%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.55%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +2.21%. September E-mini S&P futures (ESU26 ) are up +1.20%, and September E-mini Nasdaq futures...

Barchart

ConocoPhillips Stock Outlook: Is Wall Street Bullish or Bearish?

ConocoPhillips has outperformed the broader market over the past year, and analysts are moderately optimistic about the stock’s prospects.

International Business Times

The Iran War Continues Keeping Energy Markets On Edge. Saudi Aramco Profits Are Jumping.

Saudi Aramco reported a 33% jump in second-quarter profit as higher oil prices driven by the Iran conflict boosted revenue, with the company highlighting the role of its East-West pipeline in keeping exports flowing despite disruptions around the Strait of Hormuz.

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Barchart

Dollar Pressured by Strength in Stocks and Lower Crude Prices

The dollar index (DXY00 ) is down by -0.06% today. The dollar is under pressure today as hopes for a deal to reopen the Strait of Hormuz have boosted stocks and knocked crude oil prices sharply lower. The slide in crude oil prices lowers inflation expectations and could prompt the...

Barchart

S&P 500 Posts a New Record High on Strong Tech Earnings

The S&P 500 Index ($SPX ) (SPY ) today is up +0.73%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.03%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +2.00%. September E-mini S&P futures (ESU26 ) are up +0.72%, and September E-mini Nasdaq futures...

The Economic Times

Food prices largely stable, edible oils see sharp rise: Government

Retail prices for pulses and cereals remained stable due to increased food grain production. Vegetable prices saw minimal seasonal variation, except for onions. Edible oil prices are sensitive to global market conditions and have increased significantly. Rice and wheat flour prices also experienced year-on-year increases.

Reason

Blame Game

Plus: Surveillance for babies, using endowments to keep lights on, and more...

Benzinga

Scott Bessent Signals Imminent US-Iran Deal to Reopen Strait of Hormuz, Sending Oil Lower: 'We May Have a Deal Today or Tomorrow...'

U.S. Treasury Secretary Scott Bessent signalled the U.S. and Iran could reach an agreement as early as Tuesday or Wednesday to reopen the Strait of Hormuz, restoring free passage for commercial shipping.

International Business Times

Scott Bessent Said a Deal To Reopen The Hormuz Strait Could Be Reached Within Hours. Oil Is Declining Again

U.S. Treasury Secretary Scott Bessent expressed optimism about the possibility of reaching a deal that will see the reopening of the Hormuz Strait in the next hours.

International Business Times UK

Nine Women Arrested for Allegedly Planning To Disrupt King Charles' Coronation Claim Wrongful Arrest

Nine women arrested during King Charles III's coronation are suing the Metropolitan Police, claiming wrongful arrest and mistreatment.

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