U.S. Energy Secretary Chris Wright says companies that borrowed crude from the Strategic Petroleum Reserve will repay with premiums, adding 40 million barrels once the war in Iran is over — a move aimed at stabilizing markets without taxpayer cost.
Indian Prime Minister Narendra Modi met Venezuela’s acting President Delcy Rodriguez on Thursday as New Delhi accelerates efforts to diversify crude supplies amid global energy disruptions and rising geopolitical risks in the Middle East.
The Texas Railroad Commission reported preliminary March 2026 production of 132 million barrels of crude oil and 1.08 trillion cubic feet of natural gas, both slightly lower than the revised figures from a year earlier. The state’s 156,038 oil wells and 84,395 gas wells continue to underpin the nation’s largest hydrocarbon output.
By Florence Tan SINGAPORE, June 15 (Reuters) - Oil prices slid to their lowest since March on Monday after the United States and Iran reached an initial accord to end hostilities and resume traffic through the strategic Strait of Hormuz, unwinding the hefty geopolitical premium that had built into crude markets.
Energy stocks plunged midday after President Trump hinted at a U.S.-Iran deal within days, only for markets to reverse course when an American helicopter went down near Oman. The sector ended the session net lower as uncertainty over military response outweighed hopes for de-escalation.
China, Iran and Israel have emerged as relative beneficiaries in a conflict that has rattled energy markets, devastated Lebanon and eroded U.S. influence in the Middle East.
American Airlines Group (AAL) shares jumped sharply after UBS upgraded the carrier, pointing to easing geopolitical tensions, robust summer travel demand, and lower crude oil prices. The rally reignites a debate over whether the stock is still undervalued or already pricing in the recovery, with two divergent fair-value estimates offering conflicting signals.
A fiery 2024 derailment in North Dakota has once again underscored the National Transportation Safety Board’s decades-long push to phase out older tank cars that are prone to rupturing in crashes, the agency said in its final report released Thursday.
California motorists could face sustained pain at the pump this summer as the state’s fuel excise tax rises, refinery shutdowns tighten supply, and geopolitical instability roils energy markets. Starting July 1, the gasoline tax will increase by 2 cents per gallon—to 63 cents—while diesel tax edges up to 48 cents. Analysts say the tax bump alone won’t trigger a dramatic price spike, but when layered with capacity cuts and global uncertainty, the outlook is more volatile.
Maritime security experts warn that hidden Iranian mines may push back full reopening of the strategic waterway for up to 50 days, despite a reported deal.
The fragile U.S.-Iran ceasefire has unraveled as Washington launches fresh strikes, with Defense Secretary Pete Hegseth vowing to 'negotiate with bombs' if necessary. Trump threatens to hit Tehran harder while Iran retaliates targeting U.S. bases in the Gulf region.
Israel launches new strikes across Lebanon despite a U.S.-brokered ceasefire, as Hezbollah rejects the agreement and Iran signals continued skepticism. The death toll in Lebanon surpasses 3,500.
Multiple home-furnishing stocks jumped in Tuesday’s morning session after the Trump administration announced a new peace agreement with Iran, clearing the way for the Strait of Hormuz to reopen. The deal is expected to lower oil prices, ease mortgage rates, and revive consumer confidence—key catalysts for the sector.
Revised GDP data released on Monday showed Japan's economy expanded at a slower pace than initially estimated in the first quarter, as weak capital expenditure offset resilient consumption. The downward revision underscores growing headwinds from the Middle East conflict, which has driven up energy costs and clouded the outlook for the world's third-largest economy.
President Donald Trump said two American pilots survived an Apache helicopter crash near the Iranian-controlled waterway, as questions mount over what caused the incident amid heightened tensions in the region.
Semiconductor stocks rallied sharply after President Donald Trump canceled planned military strikes on Iran and signaled a potential peace agreement over the weekend, easing fears of a broader conflict that had rattled global supply chains and pushed Treasury yields higher.
Yasho Industries Ltd reported a 33% year-on-year revenue increase in Q4 2026, driven by asset optimisation and new product applications. The specialty chemical maker plans ₹125 crore in capital expenditure for FY27, fully funded through internal accruals, while targeting 85-90% utilisation by FY28.
Canadian Prime Minister Mark Carney, who built his political rise on confronting Donald Trump, used the president’s own slogan in a New York speech—but the message was more about economic interdependence than endorsement.
By Leika Kihara TOKYO (Reuters) - Japan's wholesale prices surged 6.3% in May from a year earlier, well above market expectations, as the Middle East conflict and a weaker yen drove up energy import costs, intensifying pressure on the central bank to consider policy adjustments.
