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The Latest Breaking News from Oil

Trump claims consumers are being ‘gouged’ by gas companies and orders DOJ price probe

“Gasoline prices better start going down a lot faster than what I’m seeing!” Trump wrote.

Fortune

Rupee cushioned by central bank hand even as dollar strength dents Asia FX

The Indian rupee defied regional weakness on Wednesday, supported by likely Reserve Bank of India intervention against a strengthening dollar. While Asian peers faltered, the rupee held steady as traders braced for potential US Federal Reserve rate hikes. Concerns over inflation and oil prices are being closely monitored by the…

The Economic Times

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Salon

From analysis to the latest developments in health,
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It’s too hot for candles! This is what I’m using to scent my home in a heatwave instead

4 ways I'm making my home smell nice with no scented candles in sight

Ideal Home

Venezuela plans biggest debt restructuring in history after Maduro's fall

Delcy Rodríguez’s interim government plans to acknowledge a $240 billion debt, far above market estimates, in a bid to return Venezuela to global markets.

Euronews

Buying a Used Car? Don't Forget to Check These Critical Parts

Buying a used car can be a smart financial decision. A well-maintained vehicle often provides years of dependable service at a fraction of the cost of a new car. However, not every used car is a bargain. Some vehicles may have hidden problems that can lead to expensive repairs shortly…

MyLifeXP

RBI in wait-and-watch mode despite easing West Asia risks: Sanjay Malhotra

Despite easing West Asian tensions, the RBI remains cautious, with Governor Sanjay Malhotra emphasizing data dependency over pre-set interest rate paths. While the truce offers relief on inflation and growth, uncertainties surrounding crude oil prices and the monsoon necessitate continued vigilance. The central bank is closely monitoring potential inflation spillover…

The Economic Times

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North Sea oil workers set to benefit from £6 million retraining investment

Investment from the Scottish and UK Governments is touted to support more than 1000 oil and gas workers in Scotland to move into jobs in green…

The National (Scotland)

Jet fuel crack spread may exceed $50 in 2026; airfares may climb up to 25%: Report

Geopolitical tensions and refinery issues are significantly impacting jet fuel supplies, leading to increased airline operational costs. This situation, coupled with depleted inventories and rising crude oil prices, is expected to push airfares higher. Experts predict a substantial rise in jet fuel crack spreads, potentially doubling fuel costs and consequently…

The Economic Times

Trump orders probe because gas prices not falling enough

Donald Trump said on Wednesday he ordered an investigation into major oil companies over high gasoline prices as the US leader faces criticism over the impact of the Mideast war. Trump has faced criticism for launching the war and its impact on the fuel costs paid be millions of Americans…

The Economic Times

Trump Gives Iran Rare Oil Export Reprieve as US Seeks to Lock In Fragile Peace Deal

The US has granted Iran a 60-day waiver on oil export sanctions, aiming to boost peace negotiations despite ongoing disagreements over nuclear inspections and regional security.

International Business Times UK

India-bound oil supertanker booked in Gulf at 897% of benchmark freight rate

A supertanker has been provisionally booked to ship oil from the Persian Gulf to India at a staggering rate, nearly nine times the benchmark freight cost. This eye-watering price highlights a severe shortage of available vessels in the region. The high demand, driven by increased exports and the need to…

The Economic Times

Sanjay Malhotra calms rate hike fears as RBI watches oil, monsoon

RBI Governor Sanjay Malhotra stated that discussions on interest rate hikes are premature, emphasizing that the central bank will monitor incoming economic data amidst global uncertainties. He highlighted the 'neutral' policy stance reflects this caution. While acknowledging reduced upside risks from easing oil prices, Malhotra stressed the need for continued…

The Economic Times

Korea's AI crackdown may trigger healthy correction, India could benefit: Rahul Chadha

South Korean regulatory actions are prompting a reassessment of AI semiconductor valuations, though experts see this as a healthy correction rather than an end to the rally. Concerns linger over leveraged ETFs, with market watchers focusing on major tech firms' AI capital expenditure. While India shows near-term strength due to…

The Economic Times

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The Economic Times

Oil, AI and chips: The new resource race redrawing markets and nations

The leap to a $5 trillion valuation for Nvidia underscores a dramatic paradigm shift: semiconductors have become the driving force of global economic prowess, akin to oil in previous centuries. With nations such as Taiwan and South Korea emerging through powerhouses like TSMC and Samsung, the future prosperity relies heavily…

The Economic Times

Vedanta Power, Oil & Gas shares fall 3%; Vedanta Aluminium, Iron & Steel jump up to 5%. What lies ahead?

Vedanta's demerger saw mixed fortunes for its listed entities. While Vedanta Power and Oil & Gas shares dipped, Vedanta Aluminium and Iron & Steel surged, with the latter showing significant gains post-listing. Analysts are bullish on Vedanta Aluminium, citing strong global demand and operational strengths, with multiple brokerages initiating 'Buy'…

The Guardian - UK

Sami Tamimi’s recipes for chermoula fish with olive salsa, and spicy, Palestinian-style potatoes

The classic Moroccan marinade works brilliantly with oily fish, and is made for lazy summer dining, especially if served with chilli potatoes alongside

The Guardian - UK

Progressive economists reject Unite leader’s criticism of Ed Miliband

Sharon Graham is urged to withdraw her claim that the energy secretary would cost jobs if he became chancellor

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The Independent UK

Ukraine-Russia war latest: Zelensky threatens Kyiv will pre-emptively attack Putin’s facilities linked to war

Trump says 'courageous' Zelensky is 'doing pretty well' in the war against Russia

The Economic Times

Gold prices fall Rs 2,200/10 gms; silver tanks Rs 3,300/kg as rate hike fears outweigh falling oil prices. Key levels to watch

Gold and silver prices fell sharply on MCX on Wednesday as a stronger U.S. dollar and rising expectations of Federal Reserve rate hikes dampened sentiment, outweighing support from easing oil prices and the gradual reopening of the Strait of Hormuz.

The Conversation

Underlying inflation is still too high, keeping another interest rate hike on the table

The latest inflation figures released by the Australian Bureau of Statistics look, at first glance, like good news. The headline rate for May rose 4.0% over the past year, down from 4.2% in April.

The Economic Times

UAE oil exports rebound to 85% of pre-war levels as Gulf supply routes adapt: IEA

United Arab Emirates oil exports have rebounded significantly, reaching nearly 85% of pre-conflict levels by early June. Leveraging alternative routes, extensive storage, and strategic shipping, the UAE successfully navigated Gulf tensions. Exports surged from 1.9 million barrels daily in March to 4.3 million in early June, demonstrating resilience amidst global…

The Economic Times

Oil Price Today (June 24): Crude oil near 4-month low as more tankers pass through Hormuz. What are experts saying?

Oil prices extended their decline on Wednesday, hovering near the four-month lows touched in the previous session, as signs emerged that more oil tankers stranded in the Gulf since the start of the Iran conflict are preparing to move through the Strait of Hormuz.

The Economic Times

Oil prices extend decline on expectations of smoother crude flows via Hormuz

Oil prices dipped to four-month lows as tensions eased between the US and Iran, paving the way for more tankers to navigate the Strait of Hormuz. Following peace talks and a sanctions waiver, Iran's oil sales are expected to increase. Discussions are ongoing regarding navigation in the vital waterway, with…

The Economic Times

Global Market Today: Asia stocks rebound from tech selloff, Kospi jumps

Asian markets saw a cautious rebound Wednesday after a significant tech-led global selloff, reigniting worries about the AI rally's sustainability. South Korea's Kospi surged, led by Samsung Electronics, following a steep decline. Investors now keenly await Micron Technology's results for clues on AI infrastructure demand, with some strategists predicting further…

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