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The Latest Breaking News from Oil

India raises CNG prices by Rs 2/kg across key regions for fourth time in two weeks

Compressed Natural Gas prices have seen another hike in New Delhi. This is the fourth increase in just two weeks. Consumers in the National Capital Region and other cities are now paying more for CNG. Petrol and diesel prices have also risen multiple times recently. These increases are linked to…

The Economic Times

Oil Price Today (May 26): Crude oil nears $100 as US strikes southern Iran. What are experts saying?

Oil prices saw a jump on Tuesday. This followed U.S. military strikes in southern Iran. Tensions remain high as a deal to end the conflict appears uncertain. Iran has disrupted shipping through the Strait of Hormuz, impacting global energy flows. Discussions are ongoing for a potential agreement. Analysts warn of…

The Economic Times

Dollar wobbles as markets cling to hopes for Middle East peace deal

Investor optimism for a deal to reopen the Strait of Hormuz is boosting markets. Hopes of peace have lowered oil prices and eased pressure on emerging market currencies. Iran's top negotiator is in Doha for talks. U.S. President Donald Trump indicated talks are progressing positively. However, fresh U.S. strikes on…

The Economic Times

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Brent rises nearly 2% as US military strikes Iranian boats, missile launch sites

Oil prices surged as U.S. forces conducted strikes in southern Iran. This action has heightened market concerns amid ongoing negotiations to end a protracted war. Talks are progressing on a potential deal to allow safe passage through the Strait of Hormuz. Traders are anticipating a breakthrough that could free up…

The Economic Times

Dalal Street set for negative opening as GIFT Nifty trades lower

Indian benchmark indices surged, with the Nifty closing up 1.3%. Analysts anticipate a continued gradual upmove, contingent on soft crude oil prices, a sustained rupee recovery, and easing geopolitical tensions. The India VIX also saw a significant drop, indicating reduced market fear.

The Economic Times

Global Market Today: Asian stocks pare gains, oil climbs on Iran attack report

Asian stocks saw gains moderate as US strikes in Iran overshadowed optimism for a potential deal. Crude oil advanced, reversing earlier declines, amid uncertainty over the Strait of Hormuz reopening. While progress in talks is noted, key issues like Iran's nuclear program and frozen assets remain sticking points, keeping markets…

The Economic Times

Why are oil prices crashing down today, and will Brent and US WTI crude futures continue to decline or move upwards again? Oil market reacts to US-Iran peace deal hopes

Why are oil prices crashing down today, and will Brent and US WTI crude futures continue to decline or move upwards again? Oil prices dropped nearly 7% after reports suggested the United States and Iran were moving closer to a deal linked to the Strait of Hormuz. Brent crude and…

The Economic Times

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Oil and gas has long-term future if UK Government backs industry, report says

The decline of the North Sea is being accelerated unnecessarily, the Aberdeen and Grampian Chamber of Commerce said.

Evening Standard

Govt examining possibility to introduce standard packaging for cooking oil

The Department of Consumer Affairs is looking into standard pack sizes for cooking oils. Industry bodies raised concerns about many different package sizes confusing consumers. This makes comparing prices difficult. The department met with major edible oil associations. They discussed how to make price comparisons easier. This move aims to…

The Economic Times

Bitcoin Holds Near $77,000 As Easing U.S.-Iran Tensions Boost Market Sentiment

Bitcoin traded near the $77,000 mark on Monday, with improving geopolitical sentiment helping stabilize the broader cryptocurrency market.

International Business Times

Govt finally acknowledges the end of gas is nigh

Analysis: Plummeting gas reserves mean the Government can no longer ignore the reality that domestic gas in NZ is dead, not just resting, writes Marc Daalder.

Newsroom.co.nz

Oil, LNG Tankers Exit Strait of Hormuz As Shipping Shows Signs Of Recovery

Fresh tanker movements through the Strait of Hormuz offered a rare sign of activity in a shipping corridor that normally handles about a fifth of the world's oil trade.

International Business Times

'US Venezuela Mineral Deal' Video Reminds of Expanding U.S.-Venezuela Partnerships in Mining, Rare-Earth & Energy

On May 20, 2026, the White House published a video highlighting the recent U.S.-Venezuelan mineral agreements that have been executed over the past several months, bringing renewed attention to one of the Trump administration's most significant foreign policy pivots in Latin America. The video's release prompts an important question: Just…

Latin Times

Oil Plunges On Renewed Hopes Of U.S.-Iran Deal That Reopens Strait Of Hormuz

Oil is plunging on Monday on renewed hopes the Strait of Hormuz will be reopened.

International Business Times

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International Business Times UK

Oil Prices Plunge 5% As Donald Trump Teases Historic 'Constructive' Iran Peace Deal

Oil prices fell by 5% following Donald Trump's remarks on constructive talks with Iran over the Strait of Hormuz, despite no concrete deal being reached yet.

The Economic Times

Parliamentary panel members grill Oil ministry officials over 'shortage' of petrol, LPG

Parliamentary panel members questioned Oil Ministry officials about petrol and diesel shortages. Officials confirmed crude oil stocks for 78 days. Thirteen Indian ships remain stranded in West Asia due to the Strait of Hormuz closure. The government is working to ensure no shortages, but war uncertainty persists. Fertiliser availability is…

The Economic Times

Government forwent Rs 1 lakh crore via excise duty cuts to shield consumers from fuel inflation: FM

India's Finance Minister Nirmala Sitharaman explains recent fuel price increases are market-driven by oil companies. She noted the government previously absorbed over Rs 1 lakh crore in revenue through excise duty cuts to protect consumers from inflation. The minister also discussed managing global challenges and the evolving landscape for textile…

The Conversation

Shifting from fossil fuels will fail without funding for African industry and energy infrastructure

Moving to renewable energy will fail unless wealthy nations help finance cleaner energy systems, industrialisation and local mineral processing across the African continent. This was the argument that African countries put to a recent meeting of 57 governments on phasing out fossil fuels.

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The Economic Times

Iran's top envoys discussing potential peace deal with Qatar prime minister, official says

Iran's top negotiator and foreign minister met Qatar's prime minister in Doha for talks with the US. Discussions centered on a potential deal to end the ongoing war. Key topics included the Strait of Hormuz and Iran's nuclear material. The US expressed cautious optimism for diplomacy.

The Times of India

Saudi Arabia emerges as Gulf's key trade route as Iran war blocks Hormuz strait

Saudi Arabia is capitalizing on the Iran war's disruption of the Strait of Hormuz to advance its goals as a regional energy and logistics hub. The kingdom's existing infrastructure and strategic Red Sea ports are facilitating continued oil exports and absorbing increased trade, boosting its revenue and accelerating development plans…

The Economic Times

'Inflation and unholy mess:' Why Nithin Kamath thinks RBI may not stay soft on interest rates

Nithin Kamath warned that a weak monsoon caused by El Niño and rising global oil prices linked to the Iran conflict could sharply increase inflation in India. He said higher food and fuel costs may force the RBI to raise interest rates, hurting growth and market sentiment.

Cycling News

Minimum maintenance roads, 'gut kick' climbs, oil rigs and open range cattle – A detailed look at what the Unbound Gravel 200 course has in store

'MMR, B roads, are all potentially muddy, rocky, grassy. The goal isn't easy, it's safe' says Emporia native and Life Time manager Kristi Mohn

The Economic Times

After Mumbai High, ONGC brings in BP in other western offshore oil, gas fields

In a strategic alliance, ONGC has teamed up with BP to enhance the extraction of oil and gas from its aging offshore fields in the west. This partnership is aimed at revitalising production levels, drawing from the encouraging outcomes observed in their earlier collaboration at Mumbai High.

The Economic Times

Govt gives up Rs 14,000 crore in tax revenue after excise duty cut on petrol and diesel: Petroleum Ministry

The Indian government has sacrificed nearly Rs 14,000 crore in tax revenue by lowering excise duty on petrol and diesel. This move aims to protect consumers from rising fuel prices driven by the West Asia crisis. Despite this, oil companies continue to face daily losses.

The Independent UK

US has ‘pretty solid’ draft peace deal with Iran as oil prices fall

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