A fire erupted at an oil depot in Poltavskaya village, Krasnodar Region, Russia, following the fall of drone debris. No casualties were reported, and 32 personnel and seven units of equipment are engaged in firefighting efforts.
A preliminary deal to end the US-Israel war on Iran has caused oil prices to drop to a three-month low, with hopes of the Strait of Hormuz reopening. However, experts predict it could take months, possibly over a year, for global oil inventories to recover and for consumers to see significant relief at the pump.
The Indian captain of a seized vessel suspected of being part of a Russian shadow fleet has been charged with sanctions contravention offences by British prosecutors. Ajay Pant, 38, will appear in court following a UK-led commando operation.
Falling global energy prices, potentially due to a US-Iran agreement, could offer relief to Indian refiners and gas consumers. Brent crude has dropped to nearly $83/barrel, impacting India's 88% crude import dependence. LNG prices, though moderated, remain elevated.
Global oil prices have fallen to a three-month low and stock markets have reached record highs amid optimism that a US-Iran peace deal could resolve the energy supply crisis. Brent crude dropped 4% to $83 as hopes rise for the reopening of the Strait of Hormuz.
The U.S. Strategic Petroleum Reserve is at its lowest level in over 40 years, holding 340.3 million barrels as of June 12. This decline is attributed to emergency releases aimed at easing supply disruptions, potentially linked to the Iran war and an upcoming deal to reopen the Strait of Hormuz.
Oil prices dropped significantly following a provisional peace deal between the US and Iran, potentially opening the Strait of Hormuz. Gas prices are expected to decrease, offering relief to US consumers who have faced soaring costs since the war began on February 28.
The US and Iran have announced a preliminary agreement to end their conflict, potentially resolving the global energy crisis. The deal aims to reopen the Strait of Hormuz, a vital oil and gas route, which has been closed since February 2026, impacting global prices and supply.
Treasury yields declined Monday following news of a preliminary peace agreement between the US and Iran. Oil prices also fell sharply. Investors await the Federal Reserve meeting and key economic data.
The US Strategic Petroleum Reserve has fallen to its lowest volume since 1983, reaching 340.3 million barrels after releasing an additional 8.9 million barrels last week. This continued drawdown is reportedly linked to efforts to mitigate consequences of the conflict with Iran.
A Russian oil tanker, the Smyrtos, was seized by Royal Marines off the Isle of Wight on Sunday after being monitored for days on suspicion of using a false flag. The seizure occurred amid political pressure following a resignation over defence spending.
Oil prices dropped nearly 5% after President Trump announced a completed deal with Iran to reopen the Strait of Hormuz. U.S. crude futures closed at $80.75/barrel, Brent at $83.17. Discrepancies exist regarding tolls and administration post-deal.
The Reserve Bank of Australia (RBA) board has gained significant breathing room as benchmark oil prices dropped to $US84 a barrel following a truce between Donald Trump and Iran. This development eases inflation concerns and reduces pressure for further interest rate hikes, with economists now anticipating rates to remain on hold this year.
The Reserve Bank of Australia (RBA) has gained significant breathing room for interest rate decisions due to moderating inflation and a cooling economy. A key factor is the de-escalation of the Iran conflict, leading to a drop in oil prices, which eases global inflationary pressures and reduces the need for further rate hikes.
The Reserve Bank of Australia (RBA) has gained crucial breathing room as falling oil prices, following a tentative truce in the Iran conflict, ease inflationary pressures. This allows the RBA to potentially hold interest rates steady, with economists shifting from advocating hikes to suggesting holds or even future cuts.
Clearing the Strait of Hormuz of mines could take 40-50 days, impacting oil supplies, according to Western maritime security sources cited by Reuters. An agreement between the US and Iran, set for signing June 19, includes a 60-day ceasefire and lifting of a maritime blockade.
England cricket captain Ben Stokes faces suspension after breaching a team curfew, casting doubt on his leadership. Meanwhile, New Zealand star Kane Williamson has shocked the cricket world with his immediate retirement from international cricket mid-series.
Stock markets rallied Monday, led by the Nasdaq, as oil prices plummeted on news of a US-Iran peace memorandum. This eased inflation concerns, lowered bond yields, and improved the outlook for Fed Chairman Kevin Warsh's first policy meeting. SpaceX's successful IPO also boosted market confidence.
La Belgique et l'Égypte s'affrontent ce lundi soir pour leur premier match de la Coupe du Monde 2026. Les compositions officielles sont désormais connues, avec une Belgique qui jouera sans avant-centre pur.
Quatre Tchèques sont décédés suite à une collision entre un catamaran et un voilier au large de la Croatie. Le corps de la quatrième victime a été localisé dans l'épave du voilier par des plongeurs.
A US-Iran framework agreement aims to end Gulf hostilities, reopening the Strait of Hormuz to shipping. However, significant hurdles remain, including mine clearing, high war-risk insurance premiums, and unresolved broader issues like Iran's nuclear program, posing risks to the fragile deal.
A potential US-Iran deal is causing oil prices to fall, benefiting airline stocks. The agreement could release Iranian funds, reopen the Strait of Hormuz, and allow free oil sales, easing jet fuel costs. However, the full impact on airline profits will take time to materialize.
Oil prices, which fell on Monday, are unlikely to see a significant further decline, with Brent expected to stay above $80 per barrel amid geopolitical uncertainty and potential delays in restoring production.
A landmark US-Iran deal to reopen the Strait of Hormuz has caused oil prices to drop, but experts warn that restoring production and refining capacity will take months or even years due to extensive damage and the need to rebuild global oil inventories.
