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The Latest Breaking News from Oil

Oil prices fall and stock markets rebound on hopes of end to Iran war

The price of Brent crude dropped sharply in Tuesday trading, sliding by 16% to 83.1 US dollars a barrel when London’s markets closed.

Evening Standard

EU buying Russian oil would be ‘utterly despicable’ – Ireland’s deputy premier

Vladimir Putin has reportedly said his country is willing to work with European customers amid an energy crisis caused by the Iran war.

Evening Standard

Average five year fixed mortgages surge past 5% as Iran war fallout hits homeowners

FTSE 100 shot up around 150 points in an early trading “relief rally” in the City

Evening Standard

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Donald Trump's Iran war is making Britain poorer, warns Nigel Farage's Reform UK amid oil cost turmoil

Petrol prices, mortgage rates and oil home heating costs are rising as the UK economy is rocked by the fall-out from the Middle East conflict

Evening Standard

‘Vicious cycle’: panic buying is biggest risk to Australia’s petrol supplies, experts say

Government and motoring groups say there is no shortage of fuel supplies but stockpiling has left country service stations running dry, as Iran war sparks oil price fears

The Guardian - AU

Qantas hikes international air fares citing volatile oil prices from war in Middle East

Airline reports spike in ticket sales to Europe in March, as passengers with carriers affected by flight chaos rebook

The Guardian - AU

Oil prices: Drivers rush to fill tanks in China before fuel price hike

Drivers queued at petrol stations in Nanjing ahead of a nationwide fuel price increase set to take effect at midnight as global oil prices surged above $100 per barrel.

Euronews

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US launches 'most intense day of strikes' on Iran yet as Tehran attacks countries across Gulf

Secretary of War Pete Hegseth said the US ‘will not relent until the enemy is totally and decisively defeated’

Evening Standard

UK, Germany and Italy ‘working together’ to navigate commercial shipping through strait of Hormuz - as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Heating oil warning issued as costs soar amid Iran war

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The Independent UK

Iran says European countries helped create conditions for US and Israeli attacks

Iran on Monday accused European countries, including France, of creating the conditions that led to the United States and Israel attacking the Islamic republic and triggering a war. Meanwhile, the price of oil is soaring, and attacks on Iran’s oil infrastructure continue.

Radio France Internationale

Why Do People Eat Stale Food on Sheetala Ashtami? The Hidden Legend

Imagine a festival where people intentionally eat food cooked the previous day. No cooking. No fresh meals. Only cold, leftover food. At first, it sounds strange. But this tradition is deeply connected with the sacred festival of Sheetala Ashtami, dedicated to Sheetala Mata, who is believed to protect people from…

MyLifeXP

UK households that use heating oil face ‘frightening’ surge in bills over Iran war

Chancellor raises prospect of help after prices almost treble since start of conflict

The Guardian - UK

Too valuable to burn? Chemical and plastic industries will rely on oil far longer than motorists

Every year, the world uses roughly 37 billion barrels of oil. Most is burned to power cars, trucks, planes, ships and other types of transport. For more than a century, this energy-dense hydrocarbon has shaped the modern world, from geopolitics to electricity systems.

The Conversation

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The Independent UK

Ukraine-Russia war latest: Putin’s ‘buffer zone’ strategy in tatters after Kyiv reclaims swathes of territory

Ukrainian troops now control almost all of the Dnipropetrovsk region after liberating 400 square kilometres in counterattacks

The Independent UK

Oil prices fall and Asia markets rebound after Trump says Iran war will end ‘soon’

Trump says war against Iran is ‘very complete’ but US and Israel haven’t quite ‘won enough’ yet

The Guardian - UK

Bombing of Iran’s oil infrastructure to have major environmental fallout, experts warn

Monitors admit they are struggling to keep track of the environmental disasters arising from widening war

The Independent UK

War with Iran delivers another shock to the global economy

The war with Iran is doing collateral damage to the world economy

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The Independent UK

Iran-US war latest: Tehran launches ‘most intense’ barrage of missiles since start of conflict

Trump threatened Iran with a military response ‘at a level never seen before’ after US destroyed more than a dozen Iranian mines laid in the Strait of Hormuz

Euronews

Trump says Iran war will be over 'very soon' but warns Tehran against further oil disruptions

Trump assured Republican lawmakers that the war in Iran could end “very soon” but declined to provide a specific timeline on when that might be. The US president says Washington is achieving “tremendous success” on the ground, but stressed that the war will only end after all war objectives are…

The Independent UK

Asian shares surge, echoing a rally on Wall Street as oil prices sank back to about $90

Asian shares have rebounded from their sharp declines a day before

The Guardian - AU

Five killed in strikes on Lebanon, health ministry reports – as it happened

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The Independent UK

The Latest: Iran launches drones at Saudi Arabia and Kuwait as US president sends mixed messages

Iran launches drones at Saudi Arabia and Kuwait as U.S. President Donald Trump sends mixed messages about the war, fueling market uncertainty

The Independent UK

The critical infrastructure that’s so vital to Middle East nations – and vulnerable to Iranian attack

Attacks on desalination plants mark a dangerous escalation in the Middle East conflict. Experts tell Stuti Mishra the Gulf’s most water-scarce nations face an existential threat

The Independent UK

Oil prices latest: UK inflation forecast to spike amid fears Iran war could trigger new cost of living crisis

Price of oil has surged since US and Israel launched airstrikes towards Iran 10 days ago

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