Oil prices fell to a three-week low on Tuesday as senior US officials raised hopes of a deal with Iran to reopen the key Strait of Hormuz waterway. US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent both announced that talks had progressed, potentially allowing shipments to resume as soon as this week.
Oil prices fall on hopes Strait of Hormuz could reopen Read More »
The S&P 500 and Dow Jones Industrial Average hit record closing highs on Tuesday as strong results from AI-linked companies, including Palantir, and Caterpillar eased concerns about demand. Oil prices and Treasury yields also fell amid growing hopes for a deal to end the Iran war, Reuters reported. Palantir Technologies surged nearly 30%, its biggest
US stocks: Dow, S&P 500 close at record highs as AI earnings impress, oil prices tumble Read More »
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Wall Street rallies, Dow closes at record on Iran talks optimism Read More »
MEXICO CITY — Mexico has been a major oil producer for more than a century, but its lack of refining capacity creates a quandary: The country must import much of its gasoline and diesel from the United States. That’s a boon for U.S. refineries and related industries on both sides of the border, but U.S. and Mexican
Contraband fuel: Smuggling gasoline into Mexico earns cartels millions Read More »
A liquefied natural gas (LNG) tanker carrying a Qatari cargo was struck by a projectile while traversing the Strait of Hormuz, threatening super-chilled fuel supplies and driving oil prices to their biggest gains since March amid escalating regional conflicts. According to Bloomberg, security consultancies Vanguard Tech and Marisks identified the vessel as the LNG tanker
By Julianne Geiger – Jul 30, 2026, 11:30 AM CDT Russia has extended restrictions on gasoline and diesel exports through January 31, 2027, just five days after saying the diesel ban would disappear once its domestic fuel market recovered. Recovery, it seems, has been rescheduled. Moscow first banned diesel exports from July 8 through July
Russia Extends Diesel and Gasoline Export Bans Into 2027 Read More »
Global oil prices have fallen sharply in recent weeks. Brent crude has dropped around 12% from recent highs and was trading near $84 per barrel in late July 2026. This decline raised hopes for cheaper fuel in many countries. In Pakistan, however, consumers have seen little benefit so far. On July 29, the government slightly
Still Waiting! Oil Prices Fall 12% Worldwide, No Relief for Pakistan Yet Read More »
Eni’s profits rose five-fold in the second quarter of 2026 as it became the latest energy firm to cash in on soaring oil prices during the conflict in the Middle East. Eni earned €3.3 billion in the quarter, well above analysts’ expectations, the company said on Wednesday. Revenue rose by 30 percent to €24.4 billion,
Italian energy giant Eni reports soaring profits as oil prices rise Read More »
Wall Street is mixed before the opening bell Wednesday and oil prices jumped more than 4% after Jordan and the U.S. knocked down another Iranian missile barrage launched against American forces in the Middle East. Oil prices — which had eased from last week’s the two-month high — rebounded as a brief pause in fighting
Oil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia, and the interception of Iran’s ballistic missiles aimed at U.S. forces in the Middle East, while U.S. crude inventories shrank. Brent futures increased by $3.30, or 3.9%, to $87.39 a barrel by 0300
Oil rises as US-Iran tension escalates after Iraq strikes, missile attack Read More »
