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The Latest Breaking News from Oil

Trump gets trapped between 'rockets and feathers', squirms for exit

US President Donald Trump has ordered a Justice Department investigation into major oil companies, accusing them of keeping gasoline prices artificially high despite a recent fall in crude oil prices. The move reflects frustration that fuel prices have not dropped as quickly as he had promised after tensions with Iran…

The Economic Times

Major Moscow Refinery Hit In Ukrainian Attack Won't Go Back To Being Operative This Year: Report

A major Moscow oil refinery hit in a recent Ukrainian attack won't go back to being operative this year, underscoring Kyiv's recent progress in the battlefield, according to a new report.

International Business Times

Trump’s gas price promise hits a roadblock as he turns on oil companies

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The Independent UK

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Stocks See Support Ahead of Micron’s Earnings

The S&P 500 Index ($SPX ) (SPY ) today is up +0.12%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.21%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.06%. September E-mini S&P futures (ESU26 ) are up +0.14%, and September E-mini Nasdaq futures...

Barchart

Tom Cruise’s career given stunning retrospective in trailer for ‘catastrophic’ new comedy

Tom Cruise is set to star as a chaotic billionaire oil tycoon named Digger Rockwell in the upcoming satirical comedy film, Digger , directed by Academy Award-winning filmmaker Alejandro Gonzalez Inarritu. A career retrospective trailer - featuring clips from films including Top Gun , Mission Impossible and Jerry Maguire -…

The Independent UK

Brent crude falls below $74 for first time since start of the Iran war

Brent crude dropped below $74 a barrel on Wednesday for the first time since the start of the Iran war in late February, as investors continued to price out the geopolitical risk premium that had driven energy markets higher during the conflict.

Euronews

Scottish-based oil firm’s contested Gaza gas project hits new obstacle

AN energy consortium led by a Scottish-based oil firm looking to help Israel extract gas in waters claimed by Palestine is at risk after a major…

The National (Scotland)

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Left-wing economists back Ed Miliband after union boss's 'North Sea noose' attack

LEADING progressive economists have written to a top Labour-linked union boss to back Ed Miliband for chancellor after she said he would be a…

The National (Scotland)

So it’s not under $2? Trump loses it in late-night post about high gas prices he promised would drop

Trump previously assured Americans that they would ‘soon’ see $2 gas prices, which would ‘drop like a rock’ as soon as the war in Iran is over

The Independent UK

price-of-oil-06-23-2026

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

Fortune

Brent crude hits lowest since before start of Mideast war as more tankers exit Hormuz

Global oil prices plunged Wednesday, hitting multi-month lows as supply worries eased with tankers clearing the Strait of Hormuz. An interim deal with Iran is unlocking stored crude, potentially boosting sales significantly. While U.S. inventories remain tight, rising fuel stockpiles and a forecast cut by J.P. Morgan also contributed to…

The Economic Times

Cotton Trading Mostly Lower Early on Wednesday

Cotton prices are down 70 to 97 points on Wednesday, with front month July up 65 points. Futures saw sharp front month losses of 125 to 148 points in the old crop, with other contracts down 12 to 87 points. Crude oil was down another 81 cents/bbl to $73.19. The...

Barchart

Brent Crude Falls To Lowest Level Since The Day Before The Iran War Began

Oil prices continue to drop as shipping through the Strait of Hormuz resumes.

International Business Times

India bonds gain, swap rates fall on dovish RBI comments, oil slide

Indian government bonds enjoyed a remarkable climb on Wednesday, highlighted by the 10-year yield experiencing its most significant drop in a month. Fueling this surge was a recent comment from Reserve Bank of India Governor Sanjay Malhotra, who mentioned that contemplating interest rate hikes is premature. Additionally, decreasing oil prices…

The Economic Times

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The Economic Times

JP Morgan lowers Brent crude price forecast for second-half 2026

J.P. Morgan has updated its Brent crude oil price forecast for 2026, lowering expectations due to unexpectedly weaker inventory draws and a decline in oil demand. The bank now estimates Brent prices will average $86 in Q3 and $80 in Q4, finishing the year at $78. This downward revision arises…

The Economic Times

Largecaps over midcaps, banks over PSUs: V Srivatsa reveals where smart money is heading

India's market outlook is positive, driven by cooling geopolitical tensions and falling crude oil prices, according to UTI AMC's V Srivatsa. He highlights largecaps, particularly private sector banks, as offering better value than expensive midcaps. While foreign investors are focused on AI plays, Srivatsa anticipates a gradual return to India.…

Fortune

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.

The Economic Times

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…

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Salon

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Ideal Home

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

Euronews

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.

MyLifeXP

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…

The Economic Times

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 National (Scotland)

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 Economic Times

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…

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