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The Latest Breaking News from Oil

Global energy wobbles power-up electrification push

Australia's vulnerabilities to global energy price spikes run deep, sparking calls for rapid electrification of transport and other exposed sectors.

AAP

Sweet, sticky and herbaceous, this side dish is a symphony of Middle Eastern flavors

These pan-fried tomatoes with za'atar, pine nuts, and halloumi are exactly what we want right now for summer feasting

Homes & Gardens

Crude Oil Rises Sharply; Torrid Holdings Shares Plunge

U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 0.2% on Wednesday.

Benzinga

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Sugar Prices Recover on Strength in Crude Oil

July NY world sugar #11 (SBN25 ) today is up +0.13 (+0.82%), and August London ICE white sugar #5 (SWQ25 ) is up +10.50 (+2.24%). Sugar prices today recovered from early losses and turned higher after a +2% rally in WTI crude oil (CLQ25 ) sparked some short-covering in sugar...

Barchart

Shell denies it is in talks to buy BP after reports of potential £60bn takeover

Spokesperson says report that it is considering bid for struggling rival is ‘further market speculation’

The Guardian - UK

Crude Prices Gain as Weekly EIA Inventories Fall and Gasoline Demand Soars

August WTI crude oil (CLQ25 ) today is up +1.14 (+1.77%), and August RBOB gasoline (RBQ25 ) is up +0.0128 (+0.62%). Crude oil and gasoline are moving higher today on a bullish weekly EIA report that showed a larger-than-expected draw in crude oil inventories and a surge in US gasoline...

Barchart

How crucial is the strait of Hormuz to the global energy market?

Although Israel and Iran's ceasefire which came into force on Tuesday removed the pending threat of the Strait of Hormuz's closure, this is not the first time that Iran has said it would block it.

Euronews

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Autosport 75: Toyota's Le Mans legend that couldn't win

Somehow the Toyota GT-One contrived never to win a race. Yet the car that moved the goalposts in the GT1 category from which it derived its name might well have triumphed in every one of the three events it contested.

Autosport

Trump administration aims to slash funds that preserve the nation’s rich architectural and cultural history

President Donald Trump’s proposed fiscal year 2026 discretionary budget is called a “skinny budget” because it’s short on line-by-line details.

The Conversation

Russian Warship Disguised As It Passes Through English Channel - Does It Signal World War Escalation?

A Russian warship disguised itself to escort sanctioned oil tankers through the English Channel on 20 June 2025. Is this a sign of escalating conflict?

International Business Times UK

Oil down, hopes up, ‘risk-on’: Stocks are back near their all-time highs

“Financial markets have priced in an Iran-Israel ceasefire holding,” UBS’s Paul Donovan told clients this morning.

Fortune

Trump says China 'can now continue to purchase oil from Iran'—but he hopes Beijing will buy U.S. crude instead

China currently buys around 90% of Iran’s oil exports.

Fortune

Which countries will lose the most if tensions reignite around Iran?

Russia could benefit from an escalating situation in the Middle East, while China and Europe would see their economies suffer if the ceasefire between Iran and Israel fails to hold.

Euronews

New Zealand departs climate action group

The Beyond Oil and Gas Alliance no longer counts New Zealand as an associate member after the mining-friendly Kiwi government opted to leave the group.

AAP

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Euronews

Oil prices rise despite fragile ceasefire between Iran and Israel

Markets rose slightly on news that the ceasefire appears to be holding, while oil prices also continued to climb.

The Independent UK

Asian shares gain as investors shift focus to Federal Reserve, tariffs

Asian shares have logged modest gains after U.S. stocks climbed to near their all-time high

The Conversation

Wild swings in the oil price make the Reserve Bank’s job harder

It looks, at least for now, as though tensions in the Middle East are easing somewhat. It appears much less likely Iran will try to close the Strait of Hormuz, through which flows about a fifth of the world’s oil.

International Business Times

Stocks Rally As Iran-Israel Ceasefire Holds, Oil Claws Back Some Losses

Most equities extended a global rally Wednesday after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the dollar struggled to recover from a sharp drop stoked by bets on a US interest rate cut.

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The Independent UK

Beijing, a longtime friend of Tehran, turns to cautious diplomacy in Iran's war with Israel

A longtime friend of Tehran, Beijing jumped into verbal action when Israel attacked Iran nearly two weeks ago

Al Jazeera

Fragile Iran-Israel ceasefire calms oil markets

Oil prices tumbled more after Iran struck US military base in Qatar, a sign Strait of Hormuz would stay open for now.

Benzinga

What's Going On With Airline Stocks Today?

Airline stocks such as Delta Airlines (NASDAQ:DAL) and United Airlines Holdings (NASDAQ:UAL) are trading higher Tuesday following a sharp decline in oil prices and growing hopes for a ceasefire between Iran and Israel.

Benzinga

Oil Prices Tumble As Israel-Iran Ceasefire Takes Shape... For Now

Oil prices such as United States Brent Oil Fund (NYSE:BNO) and the United States Oil Fund (NYSE:USO) are trading lower Tuesday. The selloff follows news that a tentative ceasefire between Israel and Iran may be in effect, reducing immediate concerns over further military escalation in the oil-rich Middle East region.

Barchart

Crude Prices Plunge as Geopolitical Risk Premium Vanishes

August WTI crude oil (CLQ25 ) Tuesday closed down -4.14 (-6.04%), and August RBOB gasoline (RBQ25 ) closed down -0.1282 (-5.83%). Crude oil and gasoline sold off sharply Tuesday to 1-1/2 week lows after President Trump announced a ceasefire in the Israel-Iran conflict, reducing concerns about a disruption to Middle...

International Business Times UK

What Did Diddy Use All That Baby Oil For? The Internet Has Theories — But Its Benefits Might Surprise You

A photo showing rows of baby oil in Diddy's bathroom, released amid a federal investigation, went viral online—sparking memes and wild speculation.

Benzinga

Occidental Petroleum Stock Is Slipping Tuesday: What's Going On?

Occidental Petroleum Corp (NYSE:OXY) shares are trading lower as oil prices fall Tuesday amid Iran-Israel ceasefire efforts.

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