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The Latest Breaking News from Oil

A new Houthi front and expanded Iranian attacks risk sinking Gulf nations’ choke-point workaround and widening shipping risks

After a nine-month pause, Houthi militants in Yemen allied to Iran resumed attacks on vessels in the Red Sea on July 22, 2026, directly targeting the group’s longtime foe Saudi Arabia. A week later, a floating liquefied natural gas storage facility in Egypt’s Mediterranean port of Damietta was struck by…

The Conversation

Bitcoin trades near $63,000 as falling oil prices ease inflation worries; weak flows limit recovery

Bitcoin traded near $63,000 as easing oil prices reduced inflation concerns, but weak institutional inflows and subdued spot activity capped gains. Ethereum and major altcoins declined, while analysts cited cautious investor sentiment, tighter liquidity and continued market consolidation.

The Economic Times

India bonds end flat as oil drop offsets index setback

On Monday, Indian government bonds experienced a flat close following a day of volatility. A sharp decline in oil prices provided some respite after Bloomberg's recent decisions. The benchmark bond yield remained unchanged as traders adopted a cautious stance, awaiting the Reserve Bank of India's upcoming policy announcement this week.…

The Economic Times

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ONGC to reserve half of new oil storage for strategic reserves

India's Oil and Natural Gas Corp will reserve half of its planned oil storage. This new facility will meet the country's strategic petroleum needs. India is expanding its strategic petroleum reserve capacity with private participation. The nation plans additional storage facilities in Odisha and Padur. India currently has capacity to…

The Economic Times

Lakeland’s 10-in-1 pan looks like the Our Place always pan pro – I put it to the test

4.5/5 The new all-in-one cookware costs less than £90

The Independent UK

Do Wall Street Analysts Like EOG Resources Stock?

EOG Resources’ shares have outperformed the broader S&P 500 Index but fallen short of matching its industry peers’ gains over the past year. Even so, analysts remain moderately optimistic about the stock’s potential.

Barchart

‘Danger no longer only comes from the hitmen, but from the state’: the Honduran farmers labelled terrorists for protecting their land

After another massacre of smallholders – who are subjected to violence from palm oil firms and drug traffickers – the country’s new Trump-backed government has criminalised community leaders

The Guardian - UK

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Current price of oil as of August 3, 2026

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

Fortune

Trump Said He's Halting Attacks And Resuming Talks With Iran. Oil Prices Are Plunging

Oil prices are falling on Monday after President Donald Trump said he's halting attacks against Iran and resuming talks to end the war.

International Business Times

Indian rupee ends flat as robust importer hedging blunts oil price relief

The Indian rupee finished slightly lower at the close on Monday, pulling back from an early surge. Demand for dollars from importers and state banks intensified, countering the fall in oil prices. Meanwhile, global equities gained ground ahead of the scheduled discussions between Washington and Tehran. The dollar index maintained…

The Economic Times

Stocks Set to Open Higher as Oil Sinks on U.S.-Iran Deal Hopes, Jobs Data and Earnings Awaited

September S&P 500 E-Mini futures (ESU26) are up +0.57%, and September Nasdaq 100 E-Mini futures (NQU26) are up +0.47% this morning, pointing to a higher open on Wall Street as oil prices sank after U.S. President Donald Trump revived hopes for a deal to ease tensions in the Middle East.

Barchart

How Iran is widening its pressure campaign to force US concessions

Iran is pursuing a strategy of calibrated escalation to raise the economic and strategic costs for the US and its allies by threatening the Strait of Hormuz, key shipping lanes and energy infrastructure. Analysts say Tehran aims to strengthen its negotiating position, expand regional influence and force concessions without triggering…

The Economic Times

My olive oil is uncool, apparently. Welcome to the world of microsnobbery

Social media has supposedly ramped up our impulse to judge each other on the most trivial grounds – but is this really a new thing, asks Emma Beddington

The Guardian - UK

Major oil companies reap profits as US-Iran fighting drives energy prices higher

Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages.

Euronews

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The Economic Times

Global Market: Euro zone bond yields decline as falling oil prices boost market sentiment

Euro zone government bond yields declined after oil prices retreated on hopes of easing Middle East tensions, reducing inflation concerns and prompting markets to pare expectations for further ECB rate hikes. Investors also tracked diplomatic developments involving the U.S., Iran and the Strait of Hormuz.

The Guardian - UK

Oil prices plunge and Europe’s markets rally after Trump calls off Iran strikes

Brent crude drops by 5% after US president claimed talks on Middle East peace deal would resume

Benzinga

Trump's Former Counterterrorism Chief Says Trump Can Declare 'Victory' Over Iran, Use Sanctions Relief to Reopen Strait of Hormuz

President Donald Trump‘s former counterterrorism chief, Joe Kent, hailed the announcement that the U.S. would halt strikes on Iran, saying the move could open the door to movement of vessels through the Strait of Hormuz.

The Economic Times

Global Market: European shares rise as easing Iran tensions lift sentiment; energy stocks slide

According to Reuters, investor sentiment improved after Trump signalled a preference for diplomacy over immediate military action against Iran. The development triggered a sharp decline in crude oil prices, with oil futures falling nearly 5.9% on expectations that tensions in the Middle East could ease and the Strait of Hormuz…

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The Economic Times

Nifty Q1 earnings grow 11% to beat estimate, says Motilal Oswal; picks Bharti Airtel, SBI, ICICI Bank among top bets

Nifty companies have posted a stronger-than-expected start to Q1 earnings, with profits of 39 reporting constituents rising 11% YoY, beating Motilal Oswal’s 7% estimate. Reliance Industries, JSW Steel, ICICI Bank, Bajaj Finance and Axis Bank drove 59% of incremental earnings growth, while InterGlobe Aviation, ITC, Dr Reddy’s, Cipla and Maruti…

The Economic Times

Iran war ushers in oil refining golden era. It won't last

War-driven supply disruptions have turned oil refining into Big Oil's biggest profit engine, but Reuters columnist Ron Bousso says the windfall may prove temporary as capacity returns and energy transition pressures re-emerge.

Euronews

Can the EU combat wildfires? Ask the Euronews AI chatbot

As wildfires rage across Europe, the EU has launched its largest-ever cross-border firefighting response. Do you want to know how the EU's firefighting response system works? Ask the Euronews AI chatbot.

Euronews

Oil prices lower on Middle East hopes and as OPEC+ boosts production

Oil prices were lower on Monday morning after OPEC+ boosted production for September and US President Donald Trump called off a planned strike on Iran, putting downward pressure on prices.

The Economic Times

Rupee climbs to one-month peak of 95.13 vs USD on oil slump, stronger inflows

The Indian rupee reached a one-month high as oil prices declined and foreign inflows increased. The Reserve Bank of India is expected to maintain current interest rates this week. Analysts anticipate a cautious policy statement from the central bank regarding inflation. Oil prices fell significantly after the US President sought…

Euronews

This Scottish startup saves wild fish by replacing them with Omega-3 algae fed on whisky waste

Are farmed fish a sustainable choice? Many still depend on wild-caught fish for feed – algae grown on Scottish whisky industry waste could change that.

Benzinga

Hunter Biden Says Trump Is Making 'Big Oil' Great Again as Chevron, Exxon Mobil Profits Soar—Gavin Newsom Says CVX Is 'Fleecing Californians'

Former President Joe Biden‘s son Hunter Biden and Gov. Gavin Newsom (D-CA) slammed Chevron Corp. (NYSE:CVX) and ExxonMobil Holdings Corp. (NYSE:XOM), accusing the oil giants of profiting from the war in Iran.

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