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The Latest Breaking News from Oil

Rupee hits record low of 95.85/USD as energy risk worries deepen

The Indian rupee reached an all-time low on Thursday, driven by elevated oil prices and continuous foreign portfolio outflows. This has created strain on India's current and capital accounts, with the currency particularly vulnerable due to its heavy reliance on oil imports, especially if the Iran conflict persists.

The Economic Times

Crude@$100+: The Rs 3 lakh crore power boom you might be missing

The US-Israel-Iran conflict has significantly boosted India's power and energy stocks, with Nifty Energy's market cap rising by Rs 3 lakh crore as Brent crude exceeds $100. Foreign investors are pouring into power generation and transmission, viewing it as a macroeconomic hedge. Companies like Adani Power and BHEL are leading…

The Economic Times

Sensex surges over 800 points to cross 75,400; Nifty above 23,650 despite weak rupee

In a recent turn of fortunes, Indian stock markets experienced a notable rise for the second consecutive day. On Thursday, both the Sensex and Nifty indices surged as trading commenced, despite soaring oil prices and the rupee inching closer to all-time lows. Bharti Airtel's stock was a standout performer, propelling…

The Economic Times

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Iran-US war latest: Chaos in Strait of Hormuz as Tehran attacks ships and vessel seized by ‘unauthorised personnel’

The ship had been anchored 61km off the coast of Fujairah

The Independent UK

Petrol, Diesel Price Today: Check fuel rates in Delhi, Mumbai, Kolkata as sugar exports halted, milk gets costlier and gold import duty doubled

Petrol, Diesel Price (May 14): Petrol and diesel prices remain stable in India despite rising global crude oil costs and West Asian conflict. Oil marketing companies are absorbing significant daily losses, while the government has banned sugar exports to control domestic prices. Milk has also become costlier, and gold import…

The Economic Times

Cuba has run out of diesel and fuel oil, energy minister says, as US blockade pushes island to brink

Minister Vicente de la O Levy says ‘Cuba is open to anyone that wants to sell us fuel’ as rolling power blackouts increase

The Guardian - AU

Oil Price Today (May 14): Crude oil above $105 per barrel. Here’s why Trump-Xi meeting is important for Strait of Hormuz

Oil prices edged higher as investors awaited talks between U.S. President Trump and Chinese President Xi Jinping, focusing on economic gains and geopolitical issues like the Iran war. Despite concerns over interest rate hikes, crude futures saw slight increases, with analysts warning of potential price surges if the Strait of…

The Economic Times

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Quote of the day by Simone Weil: 'Petroleum is a more likely cause of international conflict than...' – French philosopher and mystic's warning on global conflict, power, energy politics and how oil drives war and the economy

Quote of the day by Simone Weil: Simone Weil's observation that petroleum is a more likely cause of international conflict than wheat highlights its critical role in modern economies and geopolitical power. The current Iran conflict demonstrates this, with disruptions in the Strait of Hormuz impacting global oil supply, driving…

The Economic Times

Oil edges up ahead of Trump-Xi meeting in Beijing

Oil prices saw a slight increase as investors awaited the meeting between U.S. President Trump and Chinese President Xi Jinping, with the Iran war a key focus. Despite U.S. sanctions, China remains a major buyer of Iranian oil, complicating efforts to resolve the conflict.

The Economic Times

Trump wants China's help on Iran. Beijing may have other ideas

President Trump will ask President Xi for help with the Iran conflict. China is unlikely to fully comply, preferring to maintain its economic and military ties with Iran. The US has limited options to pressure China, as sanctions could lead to costly retaliation. Both nations face complex geopolitical and economic…

The Economic Times

Cotton Close with Modest Wednesday Gains

Cotton futures closed the Wednesday session with contracts coming off the midday highs, up 7 to 49 points. The US dollar index was $0.215 higher at $98.395. Crude oil was down $1.18 at $101.00 at the close. The monthly WASDE update showed 2025/26 cotton yield at 852 lbs/ac, with production...

Barchart

Soybeans Hold Gains into Wednesday’s Close as the Market Looks to Trump/Xi Meeting

Soybeans saw modest strength on Wednesday, with contracts closing fractionally to 3 cents higher on the day. The cmdtyView national average Cash Bean price was up 3 1/4 cents at $11.64. Soymeal futures were the supportive product, up $4.40 to $10.10, with Soy Oil futures falling into the close, down...

Barchart

Ecopetrol Q1 Earnings Call Highlights

Ecopetrol (NYSE:EC) reported first-quarter 2026 revenue of COP 28.6 trillion, EBITDA of COP 13.5 trillion and net income of COP 2.9 trillion, as management said stronger refining results and cost controls helped offset currency, logistics and market pressures. Juan Carlos Hurtado Parra, Ecopetrol’s

MarketBeat

Man Gets Oil Change At Walmart. Then He Tries To Drive Out Of The Walmart Parking Lot: 'I Never Understand How That Happens'

A man drives by a gruesome oil spill scene at a Walmart auto center and speculates about how it happened. Was it as simple as forgetting the oil drain plug?

Motor1

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The Economic Times

Hormuz shutdown deepens oil crisis; IEA warns of record inventory drop, demand plunge

Global oil stocks are depleting rapidly. The Iran war is worsening supply disruptions. This situation will continue for months. The market faces a severe shortage until October. Oil prices are under pressure. Demand is also falling sharply. This is the steepest drop since the Covid pandemic. Some signs suggest the…

Barchart

Crude Oil Prices Erase Early Gains as the Dollar Strengthens

June WTI crude oil (CLM26 ) ton Wednesday closed down -1.16 (-1.14%), and June RBOB gasoline (RBM26 ) closed down -0.0790 (-2.14%). Crude oil and gasoline prices settled lower on Wednesday, with crude oil falling from a 1-week high. Wednesday's rally in the dollar index ($DXY ) to a 1.5-week...

The Economic Times

Modi’s toughest economic test may demand more than appeals

Prime Minister Narendra Modi faces economic headwinds. Appeals for reduced consumption of imported goods like oil and gold may not suffice. Allowing oil prices to rise or the rupee to depreciate could curb demand but risks inflation. Tax cuts on fuel offer an alternative to protect consumers. Addressing foreign investment…

Barchart

Cotton Posting Midweek Gains

Cotton futures are back up 89 to 131 points in the front months on Wednesday. The US dollar index is $0.215 higher at $98.395. Crude oil is down 31 cents at $101.87 at midday. The monthly WASDE update showed 2025/26 cotton yield at 852 lbs/ac, with production at 13.9 million...

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Barchart

Soybeans Trading with Wednesday Gains Ahead of Trump/Xi Visit

Soybeans are posting with 4 to 7 cent gains across most contracts on Wednesday. The cmdtyView national average Cash Bean price is up 6 1/4 cents at $11.67. Soymeal futures are up $6.10 to $8.10, with Soy Oil futures 48 points lower in the July contract. President Trump landed in...

The Economic Times

India, UAE set to ink energy pacts on LPG and strategic oil reserves on Friday

Prime Minister Narendra Modi embarks on a significant visit to the UAE and four European nations. Key agreements on energy security with the UAE are expected. The tour includes discussions on trade, investment, and strategic partnerships with the Netherlands, Sweden, Norway, and Italy. This trip aims to deepen India's global…

Barchart

Crude Oil Prices Supported as Hormuz Closure Tightens Global Supplies

June WTI crude oil (CLM26 ) today is up +0.50 (+0.49%), and June RBOB gasoline (RBM26 ) is down -0.0340 (-0.92%). Crude oil and gasoline prices are mixed today, with crude posting a 1-week high. The ongoing closure of the Strait of Hormuz is tightening global oil supplies and supporting...

Barchart

Chip Stock Strength Lifts the Broader Market

The S&P 500 Index ($SPX ) (SPY ) today is up +0.18%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.60%. June E-mini S&P futures (ESM26 ) are up +0.12%, and June E-mini Nasdaq futures...

International Business Times

Oil Production Among OPEC Members Has Dropped More Than 30% Since Iran War Began

Oil production among OPEC members fell more than 30% since the beginning of the Iran war, the organization said.

PC Gamer

Here's how the Iran war is hitting key supplies for components, according to supply chain experts

The ripples span wider than you might think.

The Times of India

Europe’s biggest holiday company says Iran war won’t ground summer flights

Amidst the turmoil surrounding the Iran conflict, Europe's leading holiday company emphasizes that travelers can enjoy their summer getaways worry-free. Tui's CFO reassured stakeholders about jet fuel availability, dismissing price fluctuations as a non-issue for customers. Despite challenges posed by both geopolitical tensions and natural disasters, the appetite for travel…

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