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The Latest Breaking News from Energy

Fuel tax cut urged to avoid fruit 'rotting on trees'

As some country towns face major petrol shortages, pressure is mounting on the federal government to intervene to bring down fuel prices.

AAP

Starmer to pledge support for UK’s poorest homes to help with soaring energy bills

Vowing to support working people ‘whatever challenges lie ahead’, the PM will use a press conference on Monday to set out support for those facing soaring energy bills

The Independent UK

'End Iran war swiftly,' Keir Starmer tells Donald Trump to stop bills soaring in oil crisis

But the US president has said America is not ready to end the conflict which has entered its third week

Evening Standard

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Trump's energy chief: "No guarantees" gas prices will fall in weeks

He said the war should end "in the next few weeks."

Axios

Starmer and Trump discuss ‘importance’ of reopening Strait of Hormuz

Tehran’s stranglehold on oil tankers passing through the narrow sea passage has driven energy prices up across the world.

Evening Standard

US energy chief has dire prediction about gas prices under Trump

Trump’s war will end in ‘weeks’ but oil prices will be ‘elevated’ until it concludes, Chris Wright warns

The Independent UK

Government ‘standing by British people’ Miliband says amid fuel duty questions

Ministers have faced calls from their political rivals to U-turn on the planned 1p tax hike in light of the oil price spikes caused by the war.

Evening Standard

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Fuel duty hike could be scrapped if Middle East war drags on, Miliband suggests

The Energy Secretary said the Government will ‘stand by the British people’ as ministers consider whether to ditch a planned rise in fuel duty amid surging oil prices

Evening Standard

Skyrocketing energy prices and inflation woes mount as the ‘absurd’ reality in Iran sinks in

Energy prices may jump to all-time highs soon as the Iran war escalates without a ceasefire or a clear victory.

Fortune

Rachel Reeves vows to support households with rising energy costs as Middle East crisis hits oil prices

Reeves has pledged to support those battling with escalating energy bills amid the Middle East crisis

The Independent UK

Reeves drawing up plans to help with energy costs as Iran war continues

Chancellor Rachel Reeves will ‘take the necessary decisions to help families with the cost of living and protect the public finances’.

Evening Standard

Trump’s bold promises for Hormuz collapse after one devastating truth from his own administration

The United States military isn’t ready to escort oil ships through the Strait of Hormuz, according to a top official in President Donald Trump’s administration, directly contradicting earlier suggestions from the president. This news comes as Iran continues to effectively block the crucial waterway, causing oil prices to surge worldwide.

The Mary Sue

Ministers warn petrol retailers against ‘unfair practices’

Chancellor Rachel Reeves and Energy Secretary Ed Miliband called in forecourt operators in response to the Middle East crisis.

Evening Standard

Fuel stockpile topped up as minister says supply secure

Australia has stockpiled more than a month's supply of fuel and is as "prepared as possible" as the war in the Middle East continues to impact global supply,

AAP

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Barchart

Crude Oil Prices Underpinned as Iran War Rages On

April WTI crude oil (CLJ26 ) today is up +0.14 (+0.15%), and April RBOB gasoline (RBJ26 ) is up +0.0216 (+0.73%). Energy prices are moving higher today as news headlines whipsaw prices. Today's rally in the dollar index ($DXY ) to a 3.5-month high is weighing on crude prices. Also,...

Evening Standard

Petrol retailer group criticises ‘inflammatory language’ as staff face abuse

The Petrol Retailers Association had threatened to pull out of a meeting with Chancellor Rachel Reeves and Energy Secretary Ed Miliband.

Evening Standard

UK-Ireland summit held in Cork

The high cost of fuel and energy is expected to dominate discussions which will focus on energy links between Britain and Ireland.

Roll Call

SPR drawdown might not be enough for consumers, Democrats say

President Donald Trump’s decision to draw crude oil from the Strategic Petroleum Reserve received little criticism on Capitol Hill Thursday, although Democrats expressed reservations that it would not do much to insulate Americans from global price volatility resulting from the war in Iran. Senate Energy and Natural Resources ranking member…

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The Independent UK

Reeves and Miliband to demand answers from energy and fuel bosses over rip-off price rises

The chancellor and energy secretary to meet energy bosses to warn against profiteering amid soaring oil prices

Evening Standard

Rachel Reeves asks watchdog to ‘crack down’ on fuel ‘rip-offs’ amid Iran war

The Chancellor and Energy Secretary Ed Miliband will hold a meeting at Downing Street with petrol retailers and energy suppliers.

Evening Standard

Elon Musk’s Tesla wins approval to supply electricity to British households

Tesla Energy Ventures has been granted a licence to provide electricity to households and businesses in England, Wales and Scotland.

The Independent UK

Largest ever oil reserves released as Iran war fuels price rises

The Middle East conflict has seen oil prices surge as the flow of oil tankers has effectively stopped

AAP

Fuel supply boosted as oil price threatens record highs

The government has temporarily lowered Australia's fuel quality standards to boost supplies as the war in the Middle East disrupts global markets.

The Independent UK

International Energy Agency to release record oil reserves to calm markets

The conflict in Iran has halted shipments through the Strait of Hormuz and pushed the price of oil and gas sharply higher.

We Got This Covered

Energy Secretary falsely claimed Navy escorted tanker through Strait of Hormuz – markets lost $84 million while he tried to backtrack

Gave the market false hope.

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