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The Latest Breaking News from Oil

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

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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

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.

Euronews

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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 Independent UK

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.

The Conversation

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.

International Business Times

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

The Independent UK

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.

Al Jazeera

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.

Benzinga

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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.

Barchart

Weakness in Crude Oil Weighs on Sugar Prices

July NY world sugar #11 (SBN25 ) Tuesday closed down -0.27 (-1.68%), and August London ICE white sugar #5 (SWQ25 ) closed up +0.50 (+0.11%). Sugar prices on Tuesday settled mixed, with NY sugar slumping to a 4-year nearest-futures low. Tuesday's -5% plunge in crude prices (CLQ25) weighed on sugar...

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We Got This Covered

‘Great Honor to make this happen’: Donald Trump now helping Iran sell oil, and Adam Kinzinger wonders what timeline we’re in

Trump says "China first" when it comes to Iranian crude.

The Guardian - UK

Daniel Hannan Day celebrates his chronicle of Brexit idiocy foretold

Back in 2016, Dan prophesied about what the post-EU sunlit uplands would be like on this very day – no spoiler alert needed

Benzinga

Crude Oil Falls Sharply; US Current Account Deficit Widens In Q1

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 1% on Tuesday.

Barchart

Sugar Prices are Undercut by Lower Crude Oil Prices

July NY world sugar #11 (SBN25 ) today is down -0.26 (-1.62%), and August London ICE white sugar #5 (SWQ25 ) is down -0.80 (-0.174%). Sugar prices are under pressure today, with NY sugar slumping to a 4-year nearest-futures low. Today's -5% plunge in crude prices (CLQ25) is weighing on...

Evening Standard

FTSE 100 underperforms despite Iran-Israel hope

The FTSE 100 index closed up just 0.95 points at 8,758.99.

Evening Standard

Cut to energy bills for businesses is ‘short-term fix’, industry boss claims

David Whitehouse of Offshore Energies UK claimed the move from the UK Government would offer ‘respite’ for some firms but was a ‘short-term fix’.

Barchart

Crude Prices Tumble as Geopolitical Risks Ease in the Middle East

August WTI crude oil (CLQ25 ) today is down -3.34 (-4.88%), and August RBOB gasoline (RBQ25 ) is down -0.0930 (-4.23%). Crude oil and gasoline fell sharply today to 1-1/2 week lows after President Trump announced a ceasefire in the Israel-Iran conflict, reducing concerns about a disruption to Middle Eastern...

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