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The Latest Breaking News from Oil

FTSE 100 edges up amid cautious US-Iran optimism

Stocks gained encouragement from lower oil prices as investors weighed the latest developments in the Middle East.

Evening Standard

White House secretly ‘freaked’ about potential of breaking $5.02 gas record set under Biden

President Donald Trump has often boasted about his administration’s economic policies by comparing them to high prices under the Biden administration

The Independent UK

How Russia’s shadow fleet keeps slipping through Europe’s net

Russia’s vast “shadow fleet” of vessels has been seen primarily as a means of keeping the Kremlin’s oil revenues flowing despite Western sanctions. But a new report from the monitoring group ACLED argues the fleet has evolved into something bigger – a flexible platform for hybrid warfare across northern Europe.

Radio France Internationale

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Wall Street keeps rising, even as U.S. households keep getting more discouraged

The U.S. stock market is rising toward the finish of an eighth straight winning week

AAP

Rubio on a rescue mission in India? Here are the high stakes

US Secretary of State Marco Rubio visits India to strengthen ties. The visit addresses trade friction and strategic concerns. The US seeks to re-anchor the partnership. Energy security and the Quad dialogue are key discussion points. India balances cooperation with its strategic autonomy.

The Economic Times

Crude Oil Prices Supported as Iran Peace Deal Remains Elusive

July WTI crude oil (CLN26 ) today is up +1.31 (+1.36%), and July RBOB gasoline (RBN26 ) is up +0.0831 (+2.54%). Crude oil rebounded from a 1-week low today and is sharply higher as US-Iran peace deal remains elusive, keeping the Strait of Hormuz closed and disrupting global oil supplies....

Barchart

Wall Street rises toward another winning week, even as U.S. households feel more discouraged

The U.S. stock market is rising toward the finish of an eighth straight winning week

AAP

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US Secretary of State Rubio sees progress in Iran talks, but says 'not there yet'

United States officials report some progress in talks with Iran. Diplomatic efforts are intensifying to end a conflict that has disrupted the global economy. Key issues remain, including Iran's enriched uranium and control over the Strait of Hormuz. The situation fuels uncertainty and impacts oil prices. Negotiations continue with international…

The Economic Times

Frontline Q1 Earnings Call Highlights

Frontline (NYSE:FRO) reported what Chief Executive Officer Lars Barstad called the company’s most profitable quarter since 2004, as tanker markets were reshaped by the effective closure of the Strait of Hormuz and shifting global oil trade patterns. Speaking on the company’s first-quarter 2026 earn

MarketBeat

US stocks open higher and are headed for their 8th weekly gain in a row

The U.S. stock market is heading toward an eighth straight winning week, which would be its longest such streak since 2023

AAP

Oil spike, global debt, market stress: RBI flags mounting external shocks but lays out 5 areas where India remains resilient

The Reserve Bank of India warns of global economic dangers from oil prices, debt, and market stress. However, India shows strength in growth, inflation control, and its banking sector. The nation remains a fast-growing economy. Strong domestic demand and government spending support this. India's foreign reserves are healthy, and its…

The Economic Times

Oil and gas prices to remain high in Europe at least until the end of 2027, officials say

European Union officials say that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027

AAP

Current price of oil as of May 22, 2026

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

Fortune

Why Corpus Christi faces a looming water shortage, and what might help

Corpus Christi, Texas, home to the nation’s largest oil export hub, and its surrounding Coastal Bend area are in a water shortage that has residents, businesses, and industry carefully monitoring their water use and worried about a growing crisis.

The Conversation

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Barchart

Cotton Bouncing Early on Friday

Cotton prices are up 39 to 50 points early on the Friday session. Futures closed the Thursday session with contracts down 198 to 362 points across the board. The US dollar index was $0.151 higher at $99.165. Crude oil was down $0.26 on the day to $98.00. The market will...

AAP

Wall Street up modestly in premarket trading, oil prices climb on uncertainty over the Iran war

Wall Street inched toward modest gains in premarket trading as bond yields steadied even though oil prices rose with no signs of progress in ending the Iran war

The Times of India

UK airlines easyJet and Jet2 assure holidaymakers: No extra charges for summer flights despite rising fuel costs

British holidaymakers have been told their summer travel plans remain unaffected despite growing concerns over rising jet fuel prices linked to tensions in the Middle East.

Woman & Home

Demi Moore just ditched her signature length for a major short hair transformation at Cannes

If you needed a sign to get a bob, look no further than the actress's dramatically chic new hairdo

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France 24

Ukraine hits Russian oil refinery, Zelensky says, as Kyiv intensifies new tactic

Ukrainian forces attacked an oil refinery in Russia's Yaroslavl region, President Volodymyr Zelensky said Friday, the latest ‌in a series of strikes ⁠by Kyiv on Russian oil facilities. Authorities in Ukraine's Russian-controlled Luhansk region on Friday said a Ukrainian drone attack on a student dormitory killed at least six people…

The Independent UK

Warning summer holidays are under threat with oil markets nearing ‘red zone’

We are facing the largest energy shock in living memory, the energy boss warned

The Texas Tribune

GOP megadonor turned attorney general front-runner: How Mayes Middleton’s largesse fueled his rise

Middleton helped fund the Legislature’s swing to the right, and an internecine challenge to Ken Paxton. But that’s nothing next to the money he’s spent on himself.

The Times of India

‘Bringing war back to Russia’: Ukraine strikes Yaroslavl oil refinery

Ukraine has escalated its offensive by targeting a Russian oil refinery situated in Yaroslavl, roughly 700 kilometers away from its own territory, as declared by President Zelenskyy. He positioned this response as a fair counteraction in the ongoing conflict, propelling the conflict back into Russian territory.

AAP

World shares track Wall Street gains and oil prices climb on uncertainty over the Iran war

World shares have advanced following modest gains on Wall Street

The Economic Times

S&P flags pressure on Indian Oil as high crude prices squeeze margins

S&P Global Ratings warns Indian Oil Corporation faces mounting pressure to balance affordable fuel with profitability. Prolonged Middle East tensions are escalating crude oil prices, squeezing margins and potentially impacting IOC's earnings and liquidity over the next year. The agency highlights the challenge of absorbing losses from high crude costs…

The Conversation

Cuba needs a long-term solution to its energy crisis

Cuba has run out of oil, the country’s energy minister announced on May 14, 2026.

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