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The Latest Breaking News from Oil

Dollar Rallies on Crude Oil Strength as Hot US CPI Report

The dollar index (DXY00 ) today is up by +0.45%. The dollar is climbing today on renewed concerns that the US-Iran ceasefire may break down after President Trump said the current ceasefire was on "life support." Today's +3% surge in crude oil prices also boosts inflation expectations and may prompt...

Barchart

Oil Rises As Hope For Iran Deal Continue To Fizzle

Oil rose again on Tuesday as hopes for a deal to end the war in Iran continue to fizzle.

International Business Times

Quote of the day by ‘Father of Tragedy’ Aeschylus: ‘If you pour oil and vinegar into the same vessel, you would call them…’ Timeless lesson on toxic friendships, conflicts and harmony by Greek playwright

Quote of the day: Widely regarded as the “Father of Tragedy,” Aeschylus transformed Greek drama into a powerful art form exploring justice, pride, conflict and reconciliation. His plays were populated with kings, warriors, gods and moral struggles, yet many of his reflections on human nature continue to feel remarkably relevant…

The Economic Times

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Stocks Pressured by Rising Oil Prices and Accelerating Inflation

The S&P 500 Index ($SPX ) (SPY ) today is down -0.44%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.74%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.72%. June E-mini S&P futures (ESM26 ) are down -0.38%, and June E-mini Nasdaq futures...

Barchart

The War Comes for Your Wallet: Inflation Hits 3.8%, Highest Level in 3 Years

Prices are now rising faster than wages, just like during much of the Biden years. The war in Iran is largely to blame.

Reason

Why is BTC falling? Will Bitcoin price go up today as crypto market loses $23 billion amid Iran tensions and oil fears?

The crypto market lost nearly $23 billion in value within hours as Bitcoin price slipped below $81,000 and investor fear returned across global markets. The total crypto market cap dropped to $2.67 trillion while Bitcoin failed to break above a major resistance zone near $83,600. That rejection changed market sentiment…

The Economic Times

April CPI Report: Higher Energy Prices Keep Inflation Hot

The ongoing conflict in the Middle East is having a major impact on inflation, with April's annual rise in headline CPI the fastest since 2023.

Kiplinger

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Oil is Inching Up - One Play is to Short Chevron Calls and Puts Over the Next Month

June WTI futures prices are slowly moving higher, over $99 today. One profitable play is to sell short out-of-the-money one-month Chevron calls and puts. I discussed this last month, and it has worked out.

Barchart

Current price of oil as of May 12, 2026

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

Fortune

Uganda's Museveni sworn in for seventh term as succession question looms

Uganda’s President Yowrei Museveni has been sworn in for a seventh – and possibly final – five-year term in office, as the country prepares to become an oil producer by the end of the year.

Radio France Internationale

Cotton Pulling Back Early on Tuesday

Cotton prices are down 95 to 110 points so far on Tuesday morning. Futures rallied 152 to 304 points across most contracts on Monday, with some deferreds lower. The US dollar index was $0.016 higher at $97.800. Crude oil was up $2.83 at $98.25 on Monday. NASS Crop Progress data...

Barchart

India 10-year bond yield hits 5-week high on rising oil and war jitters

Hopes for a deal dimmed after Donald Trump said ‌a ceasefire with ⁠Iran was "on ⁠life support". Concerns about oil supply deepened after a senior officer in Iran's Islamic Revolutionary Guard Corps Navy said Tehran had expanded its definition of the Strait of Hormuz into a "vast operational area" far…

The Economic Times

Why is Tuesday Like Christmas to the BRACE Industry?

For those who live and breathe only because the government is benevolent enough to bestow imaginary numbers on them, Tuesday is their day.

Barchart

How big oil companies can slow the green transition by suing governments that ban fossil fuels

The UN’s climate summit in Brazil did not produce a fossil fuel roadmap last November, as had been expected. Now the closure of the Strait of Hormuz has exposed the fragility of global dependence on fossil fuels.

The Conversation

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The Independent UK

Modi urges Indians to work from home as US-Iran war sparks fuel crisis

Prime minister calls for adopting measures developed during Covid pandemic

The Economic Times

India will need to see how long fuel retailers can bear losses, oil minister says

India's oil minister highlighted the need to address state-run fuel retailers' mounting losses from selling petrol and diesel below market rates. Despite global price surges, pump prices remain unchanged, impacting companies significantly. Officials deem compensation fiscally unsustainable, suggesting a substantial but inflation-conscious price adjustment may be necessary soon.

The Economic Times

Sensex dips 3,400 points in 4 days. Is this the beginning of a bigger crash?

Indian equity markets fell for a fourth straight session as rising crude oil prices, geopolitical tensions, FII selling, and a record-low rupee triggered sharp losses across benchmark, midcap, and smallcap indices. Analysts warned volatility may persist unless global tensions ease and inflation concerns stabilise.

The Economic Times

Rupee's rough patch worsens on oil, outflow strain; central bank likely steps in

The rupee and other currencies of oil-importing countries have been among the hardest hit following a near 50% surge in Brent crude prices since the Iran war began. The Philippine peso and the Indonesian rupiah have also been impacted severely, with the latter hitting a record low on Tuesday as…

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Bored Panda

This Artist Paints Rainy Scenes So Realistic They Blur The Line Between Photography And Oil Painting (33 Pics)

Through rain-streaked windows, blurred headlights, glowing city reflections, and soft bokeh lights, the Manchester-based oil painter Riona Buthello transforms ordinary moments into emotionally charged scenes filled with nostalgia and quiet introspection. Her work often captures the feeling of sitting in a car during heavy rain, watching the outside world dissolve…

Euronews

A weakened Trump to test China's appetite for deal-making

A quagmire in Iran, sky-high oil prices and shrinking support at home: when US President Donald Trump belatedly travels to China this week, his position has weakened. Still, he is hoping for any deal. Nervous Europeans are watching.

International Business Times UK

Trump Economic Advisor Claims Record Low Consumer Sentiment Is Caused By Stress Of Seeing Too Much Positive Change Too Quickly

The White House attributes record-low consumer confidence to rapid changes under Trump's administration, despite rising petrol prices and tariffs being cited as primary causes by the University of Michigan survey.

The Economic Times

The battle for Hormuz risks sparking the next Iran clash

Iran is now controlling passage through the Strait of Hormuz. This new arrangement could continue even after the current conflict ends. Gulf exporters and buyers are uneasy about Iran dictating oil and gas flows. The United States opposes this shift in control. The future of the Gulf hinges on who…

The Conversation

Get ready for a budget slowdown. But Chalmers insists we won’t see a recession

Treasurer Jim Chalmers has called his budget “ambitious in the face of adversity”.

Euronews

Shipping industry fears fuel shortages that could drive up prices worldwide

Global shipping companies are bracing for fuel shortages and rising costs as the Iran war disrupts supplies of bunker fuel through the Strait of Hormuz.

The Economic Times

Oil market enters tight supply phase after years of underinvestment: Nikhil Bhandari

Global energy markets are entering a structurally tighter phase due to years of underinvestment in crude oil and refining. While renewables are growing, grid constraints persist, and downstream product shortages are emerging, signaling a multi-year squeeze across the energy sector.

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