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The Latest Breaking News from Oil

Fury as Labour roll back Russian oil sanctions while 'killing Scotland's North Sea'

A UK Government minister repeatedly ducked questions as he was confronted about Labour relaxing sanctions on Russian oil.

The National (Scotland)

Forget bleach — this vinegar hack deep cleans the grimiest part of your toilet and makes it smell fresh too

The genius reason cleaning experts spray vinegar around their toilet, and why you should do it too.

Tom’s Guide

Putin and Xi hail their high-level ties and growing energy trade as they meet in Beijing

Chinese leader Xi Jinping and Russian President Vladimir Putin have hailed their strategic ties and energy trade during a meeting in Beijing

AAP

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Stock market rebounds: Sensex recovers 790 points from day’s low, Nifty closes above 23,650

Indian stock markets staged a strong recovery, erasing morning losses. The Sensex and Nifty closed higher as oil prices dropped below $110 per barrel. Bond yields also eased from record highs. Investor sentiment improved broadly across market segments. The Indian Rupee, however, hit a fresh record low against the US…

The Economic Times

UK government’s Russian oil sanction decision explained as Starmer faces criticism

IN FULL

The Independent UK

Ithaca Energy Q1 Earnings Call Highlights

Ithaca Energy (LON:ITH) reported what executives described as a strong first quarter of 2026, with production in line with full-year guidance, robust cash generation and an outlook for shareholder returns trending toward the high end of its target range. Executive Chairman Yaniv Friedman said the c

MarketBeat

Why CEA Anantha Nageswaran says India is facing a ‘Live Balance of Payments Stress Test’

India faces significant external sector challenges due to rising oil prices, foreign investor exits, and a weakening rupee. Chief Economic Advisor V. Anantha Nageswaran describes this as a "live balance of payments stress test," highlighting pressure on imports, currency stability, and foreign exchange flows. The situation is exacerbated by heavy…

The Economic Times

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Ukraine ally Britain eases sanctions on Russian oil as fuel prices surge over Iran conflict

The U.K. government has quietly eased some sanctions on Russian oil to help Britons cope with rising costs

The Independent UK

World shares track Wall Street's retreat as bond markets crank up the pressure

Shares have retreated in Europe and Asia after the U.S. stock market gave back more of its record-setting rally

AAP

Rs 10.9 lakh crore burden: Iran shock can take a load off India's back

Rising oil prices triggered by the Iran conflict are pushing India to accelerate its shift away from fossil fuels, with the government fast-tracking plans for ethanol adoption and commercial vehicle electrification to reduce dependence on imported crude and support the rupee. With crude imports estimated to cost Rs 10.9 lakh…

The Economic Times

Streeting says he resigned because Labour ‘in fight of our lives against nationalism’, and is currently losing – as it happened

Former health secretary standing down after saying he no longer had confidence in Keir Starmer

The Guardian - UK

UK delays some sanctions on Russian oil and gas amid Middle East conflict

‘Short-term’ measures on import of jet fuel and diesel, and shipping of LNG, aimed to help tackle soaring prices

The Guardian - UK

Laurence Balanco flags 5% downside risk for Nifty amid global yield surge

Global financial markets are experiencing a risk-off shift driven by rising sovereign bond yields, impacting equities and commodities. Market strategist Laurence Balanco notes that bond yields, not oil, are now the primary risk signal, tightening liquidity and pressuring risk assets. This trend is particularly evident in technology and semiconductors, with…

The Economic Times

Citi sees India tightening currency controls to halt Rupee slump

India may introduce more measures in the coming months to support the rupee and boost foreign reserves, including possible curbs on overseas investments by domestic companies, according to Citigroup. The report said rising oil prices and pressure on the current account deficit have pushed policymakers to consider steps to limit…

The Economic Times

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The Guardian - UK

Outrage grows over treatment of Gaza flotilla activists; US boards Iranian oil tanker – Middle East crisis as it happened

US ambassador to Israel criticizes Ben-Gvir’s ‘despicable actions’ in video shared online as countries condemn treatment of activists; tanker was accused of violating blockade before being released

The Economic Times

Rupee under pressure; crude oil, bond yields and dollar strength create perfect storm: Naveen Mathur

The Indian rupee is facing intense pressure due to rising crude oil prices, a strengthening dollar, and widening deficits. The Reserve Bank of India has actively intervened, depleting foreign exchange reserves to manage volatility rather than defend a specific level. Importers should hedge, while exporters benefit from the weaker currency.

The Independent UK

Government makes U-turn on Russian oil as petrol prices hit record high

IN FULL

The Independent UK

Starmer under fire for buying ‘dirty Russian oil’ after UK quietly eases strict sanctions

Senior Labour MP Emily Thornberry hit out at the government’s decision and said the people of Ukraine have been ‘very let down’ by the move

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The Economic Times

Rupee not just weak against dollar, falls over 10% in a year versus Pakistan's currency, Bangladesh Taka

Indian rupee vs Pakistan rupee: The Indian rupee has experienced a significant decline, not only against the US dollar but also against the Pakistani rupee and Bangladeshi taka. This weakening is attributed to rising oil prices and global market uncertainty, impacting overseas expenses for Indians and potentially widening the balance…

The Guardian - UK

Rainforests pushed to breaking point by new demands for resources, report says

Need for minerals, biofuels and pulp adding to pressures from ranching, monocrops, oil and logging, analysis finds

The Economic Times

Global funds ready for further Rupee weakness with 100 in sight

Global investors anticipate further depreciation of the Indian rupee, with some projecting a fall to 100 per dollar. This outlook is driven by rising oil import costs due to the US-Iran conflict and investor preference for the greenback. The rupee's decline has already eroded local gains for foreign funds, prompting…

The Economic Times

Experts see possibility of 50-75 bps RBI rate hike amid inflation pressures

Concerns are rising over India's economic outlook due to surging crude oil prices and inflation. Experts suggest the Reserve Bank of India might increase interest rates in the coming quarters. Global uncertainties and geopolitical tensions are adding pressure. While some anticipate a cautious pause, persistent inflation risks could lead to…

The Economic Times

Rising bond yields, oil prices keeping markets on edge; selective bets still emerging: Pankaj Pandey

Global markets are under pressure due to rising bond yields and geopolitical tensions. Higher crude oil prices are a key concern, potentially impacting sector margins. Investors are shifting towards defensive sectors like pharma and hospitals. Indian IT firms are seen as value picks, but growth concerns persist. Asset management companies…

The Economic Times

Oil prices and dollar hold key to EM flows: Manpreet Gill

Global bond yields are climbing, prompting investors to re-evaluate market risks. This rise pressures equities, particularly those in the artificial intelligence sector. Experts note markets are reacting to inflation worries and oil price impacts. Investors are also adjusting to new leadership at the US Federal Reserve. This shift suggests a…

AAP

Xi and Putin highlight their friendship and cooperation on energy and other issues in Beijing visit

Russian President Vladimir Putin praised his close ties with Chinese leader Xi Jinping and said their countries are close partners in trade and international affairs as they opened bilateral talks Wednesday on his trip to Beijing

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