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The Latest Breaking News from Oil

S&P 500 Reverses After Hitting Record High as Oil Prices Bounce Back

The S&P 500 Index ($SPX ) (SPY ) today is down -0.40%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.51%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.28%. Equity markets retreated this afternoon, erasing earlier gains as a resurgence in crude oil...

Barchart

Dollar Slips with Crude Oil on US-Iran Peace Hopes

The dollar index (DXY00 ) today is down by -0.14% but remains above Wednesday's 2.5-month low. Optimism that a peace deal between the US and Iran is imminent is curbing safe-haven demand for the dollar today. Also, today's -4% decline in crude oil prices eases inflation expectations and could prompt...

Barchart

Ignore the Panic Over Falling Crude Oil Prices and Buy July SRW Wheat Here

July soft red winter wheat futures present a buying opportunity on more price strength.

Barchart

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Stocks Mixed Awaiting an Iran Update

The S&P 500 Index ($SPX ) (SPY ) today is down -0.05%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.02%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.20%. June E-mini S&P futures (ESM26 ) are down -0.03%, and June E-mini Nasdaq futures...

Barchart

Middle East war will slow down economic growth in Africa as cost of living crisis soars, IMF warns

According to the IMF's report, regional growth is expected to decline by 0.3 percentage points, and some 20 million people in Africa now face the risk of food insecurity as the Iran war raises energy and food prices.

Euronews

How Trump’s ‘one page memo’ could take us back to square one in Iran - after thousands of lives lost and economic ruin

The US has reportedly drafted a 14-point memo to end the war and kickstart negotiations towards a nuclear deal but several issues remain unresolved

The Independent UK

Brent Crude Dips Below $100 Amid Optimism About Progress Towards Ending Iran War

Oil continued to drop on Thursday amid optimism about progress towards ending the war in Iran.

International Business Times

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Chicken and Waffles add a sweet-salty twist to Mother’s Day

Chicken and Waffles is joining classics like Eggs Benedict and French Toast on more brunch menus

The Independent UK

‘An epidemic of flies, rats, waste and foul odours’: health fears in Cuba as US oil blockade halts rubbish collection

As Trump ramps up pressure by cutting off fuel to the island, Havana’s refuse is rarely collected, forcing residents to burn it in the streets despite the pollution

The Guardian - UK

Current price of oil as of May 7, 2026

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

Fortune

Cotton Losses Extending to Thursday Trade

Cotton price action is down 100 to 110 points so far on Thursday. Futures closed the Wednesday session with contracts down 31 to 75 points. The US dollar index was $0.420 lower at $97.890. Crude oil was the pressure factor, falling $6.06 on the day on easing US/Iran tensions. The...

Barchart

Soybeans Sliding to Thursday Morning Trade

Soybeans are trading with 2 to 5 ½ cent losses on Thursday morning. Futures closed the Wednesday session with contracts falling 10 to 16 ¾ cents. Open interest was down 8,142 contracts on Wednesday, mainly in the nearbys, with November up 4,479 contracts. There was just one delivery issued above...

Barchart

5 Expert-Backed Habits to Reverse Fatty Liver Naturally

Fatty liver disease is becoming increasingly common across the world, especially due to modern lifestyle habits such as poor diet, lack of exercise, and rising obesity levels. Doctors explain that in many cases, early-stage fatty liver, also known as metabolic dysfunction-associated steatotic liver disease, can be improved and even reversed…

MyLifeXP

Brussels mulls scrapping methane fines amid energy crisis - leak

The draft text, circulated to EU member states, says penalties should not jeopardise gas or oil supplies during periods of market stress or crisis — a move likely to be seen as a concession to mounting pressure from industry and international partners.

Euronews

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The Guardian - UK

First Thing: Uncertainty looms as last oil tanker from Middle East arrives in California

State can meet fuel demand for next six weeks with its current supply, says energy commission vice-chair. Plus, alleged Epstein suicide note unsealed by federal judge

Euronews

Shell profits surge as Iran war drives oil prices higher

Europe’s biggest energy company reported a jump in first-quarter profits as the war involving Iran and the effective closure of the Strait of Hormuz pushed oil and gas prices higher.

The Guardian - US

Trump’s Iran war may stymie climate gains with boost to big oil, experts say

Windfall profits could lock in Trump-era political wins for the industry and slow clean-energy transition

Barchart

Stocks Steady Before the Open as Investors Await U.S.-Iran Updates; Earnings and Economic Data on Tap

June S&P 500 E-Mini futures (ESM26) are up +0.03%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.01% this morning as investors await the outcome of diplomatic efforts aimed at ending the Iran war.

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The Independent UK

Shell profits rise to £5bn after Iran war oil price surge

IN FULL

Axios

Gas prices won't return to pre-war levels any time soon

Consumers have a long road ahead even if a U.S.-Iran peace deal actually happens this time.

The Economic Times

RBI likely to hold rates in June: HSBC

The Reserve Bank of India faces a tough choice in June. Economists predict no interest rate changes as the economy deals with rising energy costs and unpredictable weather. The RBI must balance fighting inflation with keeping economic growth strong. Any rate hikes are likely delayed until global supply chains stabilize…

Euronews

Two drones from Russia crash in Latvia with one causing oil depot fire, army says

Europe is on high alert after drone flyovers into NATO airspace reached an unprecedented scale last September, prompting leaders to agree to develop a "drone wall."

The Guardian - UK

Hantavirus outbreak ‘not start of pandemic’ says WHO, as Canaries secure concessions over cruise docking plans - as it happened

Health body gives briefing as Spain says ship will not dock in Tenerife but be anchored offshore and passengers will have no contact with the public

Euronews

The Italian maxi-plant changing the energy balance in Libya

Eni's maxi module starts from Ravenna to Libya: less waste, more gas and an increasingly strategic Italy-Libya axis in the Mediterranean

The Economic Times

AirAsia's Tony to give the world new airline

Tony Fernandes, co-founder of AirAsia X, is set to launch a new airline. This aggressive expansion comes despite rising oil prices. The new carrier is expected to be announced soon. Fernandes sees opportunities within the current market challenges. AirAsia is reallocating aircraft for this new venture. This move follows a…

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