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The Latest Breaking News from Oil

Stocks Slip Before the Open as Oil Rises on U.S.-Iran Peace Deal Uncertainty, PMI Data in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.40%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.55% this morning as oil prices and bond yields climbed, with investors watching to see whether hopes for a peace deal in the Middle East will turn into tangible progress.

Barchart

Rupee shored up by firm central bank intervention, but oil risks linger

The Indian rupee strengthened on Thursday, marking its first gain in two weeks, following aggressive intervention by the central bank through dollar sales. A media report suggesting potential policy options, including an interest rate hike, also supported the currency's recovery from recent record lows.

The Economic Times

Market wrap: Sensex slips 1% from intraday high, Nifty closes near 23,650 as bond yields rise

Indian stock markets closed lower on Thursday. The Sensex and Nifty slipped from intraday highs due to expiry day volatility. Rising bond yields and foreign institutional investor selling also impacted trading. Despite some intraday recovery, markets ended in negative territory. Geopolitical issues and crude oil prices are key factors to…

The Economic Times

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India to prioritise releasing stranded vessels in Hormuz, may resume tanker loading when conditions improve, says official

India is ensuring the safe passage of its ships near the Strait of Hormuz. Tensions in the region are impacting global shipping. Authorities are coordinating for cargo loading operations. Indian tankers will resume operations only when the security situation is deemed safe for commercial movement. This focus ensures the well-being…

The Economic Times

Ukraine says its drones hit another refinery deep inside Russia as long-range strikes escalate

Ukrainian drones have struck another Russian refinery, igniting a fire and producing massive black smoke

The Independent UK

She left city life to work in the village, now earns over Rs 1 crore a year from 60,000 venomous snakes

Qin, a 1995-born woman from Guilin, China, manages a snake farm with over 60,000 venomous reptiles. She took over her father's business after university. The farm supplies snake venom, meat, and oil for traditional medicine and research. Qin shares her life online as 'The Girl Who Collects Snake Venom', detailing…

The Economic Times

Fuel imports keep India's economy under pressure despite gold duty curbs: Kotak Securities official

India's economy is under pressure from high crude oil prices due to global crises. Experts warn that government actions may not fully resolve the issue. The country imports most of its crude oil, impacting its import bill and current account deficit. Rising dollar payments are also weakening the Indian rupee.

The Economic Times

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World shares are mixed, Kospi gains 8.4%, as tech-led rally fades

Shares have opened lower in Europe after a mixed session in Asia, where a rebound in oil prices undermined optimism from another broad rally on Wall Street

AAP

FED:Hanson lashes gas tax 'vandalism', reveals energy plan

Australia should look to Norway to shore up sovereign wealth through gas, One Nation says, as the coalition urges the resources industry to "fight like hell".

AAP

ET Alpha Wealth Summit: What AI, oil and geopolitics mean for the next market turn

Amid rising geopolitical uncertainty, AI disruption, and shifting global markets, the ET Alpha Wealth Summit on June 4 will bring top investors, policymakers, and CEOs together to decode risks and opportunities. From market cycles to global allocation strategies, the summit offers a roadmap for smarter, future-ready investing.

The Economic Times

Quantinuum and bp Collaborate Towards Solving Fundamental Wave Physics Challenges with Quantum Computing

BROOMFIELD, Colo., May 21, 2026 /PRNewswire/ -- Quantinuum, a leading quantum computing company, today announced the launch of a new quantum project in collaboration with bp, the global integrated energy company, aimed at modernizing how the energy sector maps the Earth's subsurface to locate oil and gas resources. Few tasks…

AAP

From medical tourism to casinos, oil shock hits Southeast Asia

Companies across aviation, retail, and manufacturing are implementing price hikes and cost-cutting measures. Disruptions to supply chains and rising raw material expenses are impacting profitability, prompting strategic reviews and increased financial provisions.

The Economic Times

Iran war rapidly wiping out the world’s oil stockpile cushion

Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe supply disruptions tied to the Middle East conflict, leading to a tightening market and concerns about future availability.

The Economic Times

India bonds reverse gains as report RBI mulling rate hike outweighs external support

Indian government bonds reversed early gains as reports emerged that the central bank is considering a rate hike to curb the rupee's sharp decline. The benchmark bond yield surged following the news, overshadowing positive global cues like falling oil prices and progress in US-Iran negotiations. Overnight index swap rates also…

The Economic Times

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The Economic Times

RBI revives aggressive pre-market intervention to arrest rupee's slide, bankers say

The Reserve Bank of India aggressively sold dollars via state-run banks to halt the rupee's slide after it hit all-time lows. The intervention caused the rupee to surge significantly on the interbank market. This pre-open strategy, last used in March, aims to break a negative feedback loop of depreciation, with…

The Economic Times

Crude market caught between diplomacy and disruption: Peter McGuire

Global crude oil markets experienced sharp volatility as traders reacted to shifting signals regarding potential Iran ceasefire negotiations. While initial optimism emerged from President Trump's statements, the absence of a formal response from Iran and Israel maintained market caution. Analysts suggest traders are anticipating a swift resolution, but uncertainty persists,…

The Economic Times

LPG cylinder prices today: How much does domestic and commercial gas cost in Delhi, Mumbai, Bengaluru, Kolkata on May 21?

LPG gas cylinder prices today: Domestic LPG cylinder prices remain stable across major Indian cities, offering relief to households despite global energy cost concerns. However, commercial LPG rates have surged significantly, impacting food businesses. This stability in domestic prices is seen as a measure to shield consumers from inflation, even…

The Independent UK

Europe’s risk from Ukrainian drones as Russia’s jamming tech throws them off course

For the first time in a NATO and European Union capital, Lithuanians were pictured sheltering

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The Independent UK

Ukraine-Russia war latest: Trump dispatches 5,000 troops to Poland as Nato jets scrambled over Baltics

Trump had threatened to withdraw troops from Europe earlier this month

The Economic Times

Banks look risky, bet on EVs and innovators: Dipan Mehta on where to put your money now

Market expert Dipan Mehta advises investors to focus on individual stocks rather than the Nifty amidst market volatility. He suggests avoiding oil marketing companies and traditional banks, instead favoring EV-focused auto ancillaries, upstream oil producers, and NBFCs. Mehta also highlights innovative companies across sectors as key opportunities for discerning investors.

The Economic Times

Gold prices drop below Rs 1.6 lakh/10 grams, silver falls Rs 1,350/kg as investors await Iran-US peace deal. What lies ahead?

Gold and silver prices on MCX edged lower on Thursday as easing US Treasury yields and a rally in global equities reduced safe-haven demand, despite ongoing Iran-US tensions.

The Economic Times

Sensex gains 560 points, Nifty above 23,800. Key factors behind today's Dalal Street rally

Indian stock markets surged in early trading, with Sensex and Nifty extending gains for a second day. A stronger rupee, falling bond yields, and positive investor sentiment fueled the rally. Broader markets and most sectoral indices also saw significant upticks, indicating a 'buy on dips' trend.

The Economic Times

Oil Price Today (May 21): Crude oil rises slightly after two days of fall as Iran-US issue fresh threats. What lies ahead?

Oil prices saw marginal gains as fresh threats between Iran and the US heightened concerns over the Strait of Hormuz closure. While Iran examines a new US proposal, President Trump indicated talks are on the "borderline" between a deal and renewed strikes. The ongoing blockade of the vital waterway continues…

The Economic Times

Rupee can hit 100, balance of payments already under stress: Diviya Nagarajan, UBS

India faces mounting economic challenges, with UBS warning of a potential rupee slide to 100 and a $50 billion balance of payments stress. GDP growth could dip to 5.5% in a worst-case scenario, while earnings outlook remains uncertain. Banks are better positioned, but power and renewables offer a bright spot.

Bangkok Post

Legal pressure mounts on Ang Thong fuel trader

The Ministry of Industry has filed an additional complaint with the Department of Special Investigation (DSI) against an Ang Thong-based fuel trading firm suspected of hoarding and falsifying records in violation of a prime ministerial order during the fuel crisis in March.

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