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The Latest Breaking News from Oil

How have UK petrol prices been affected by US-Iran war and oil price surge?

Cost of filling up a vehicle has now seen the steepest rise since the start of the Ukraine war in 2022

The Independent UK

Drivers told to cut down on certain journeys as fuel prices hit

Since the war began on February 28, the average price of a litre of petrol at UK forecourts has increased by 5p to 137.5p, while diesel is up 9p to 151.0p

The Independent UK

REV’IT! Says It’s Moving Away From PFAS. Here’s What That Means For Riders

The riding gear brand REV'IT! is working to remove PFAS from its products without sacrificing waterproof protection.

RideApart

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Fico warns Slovakia may block EU's Ukraine loan if Orbán loses election

Slovakia’s prime minister said Bratislava could "take the baton from Hungary" and block the EU’s €90 billion loan to Ukraine if oil supplies through the Druzhba pipeline are not restored. Fico also condemned what he called "cowboy style" behaviour by international powers in Iran.

Euronews

Iran’s new supreme leader’s name appears on missile aimed at Israel

Projectile reads ‘At your service, Sayyid Mojtaba’ as son of Ali Khamenei launches first strikes in power

The Independent UK

In the other US target of regime change, Cuba, I saw real hardship – and resilience

Trump is choking off oil imports to the communist nation, plunging it into a crisis not seen since the fall of USSR, says Sara Kozameh, assistant professor in history at UC San Diego

The Guardian - UK

Stocks Set to Open Lower as Oil Prices Surge Above $100 on Middle East Conflict

March S&P 500 E-Mini futures (ESH26) are down -1.08%, and March Nasdaq 100 E-Mini futures (NQH26) are down -1.12% this morning, pointing to further losses on Wall Street as the escalating Middle East conflict triggered fresh turmoil in energy markets.

Barchart

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Why the UK is set for a ‘white knuckle ride’ as oil prices soar

IN FULL

The Independent UK

Bapco declares force majeure as Iran sets Bahrain's only refinery ablaze

Bapco Energies invoked force majeure on Monday after a strike set the Al-Ma'ameer facility ablaze, joining Qatar and Kuwait in suspending shipments as Iran escalates its attacks on Gulf energy infrastructure.

Euronews

Reeves issues inflation warning as Iran war sends oil prices soaring

PM says war impact could be felt on ‘the lives and households of everybody’

The Independent UK

Keir Starmer insists economy well placed to absorb ‘likely impact’ of Iran war

Oil prices have soared after the US and Israeli strike on Iran and Tehran’s retaliation against Gulf states.

Evening Standard

Stock Market Rout and Parliament Protests as US‑Iran Conflict Hits India

The escalating crisis in West Asia, triggered by the US-Israel attack on Iran and Iran’s subsequent retaliation, sent shockwaves through Indian stock markets and Parliament on Monday, March 9.

Whats Hot

The Iran war's economic blowback is getting real

As oil prices surge, recession odds nearly doubled this month.

Axios

Ministers eye new energy support as Iran war sends prices soaring

Derek Lickorish, chairman of electricity and gas firm Utilita, has warned ‘we just don't know’ how high gas prices will go

Evening Standard

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The Independent UK

Hegseth warns ‘this is only the beginning’ of war with Iran and there will be more US casualties

Defense Secretary Pete Hegseth insists ‘we’re very much on track’ and says prospect of further American deaths ‘stiffens our spine and our resolve to say this is a fight we will finish’

The Independent UK

Heating oil price shock as costs double for nearly two million Brits

IN FULL

The Independent UK

What is happening with oil prices and what it means for your money

IN FULL

The Independent UK

Starmer promises to protect Brits from Iran war’s economic impact as oil prices surge

IN FULL

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The Independent UK

FTSE 100 tumbles as Rachel Reeves to hold emergency meeting over oil prices

IN FULL

Euronews

Watch: Hungary's elections, Ukraine's loan — as the April deadline nears, tensions boil over

Last week, tension reached a breaking point when Hungarian anti-terror police raided a Ukrainian state bank convoy carrying cash and gold. In response, Kyiv accused Budapest of taking its citizens hostage. But hold on, how did we get here?

Euronews

European markets dip as oil prices soar and European gas prices jump

Leading European stock market indexes started the week with a big sell-off, following a major drop across Asian markets and surging oil prices, as the Middle East crisis escalates further.

The Independent UK

FTSE 100 plummets further as oil prices soar above $100 a barrel

Oil prices surged past $100 a barrel for the first time since the summer of 2022

The Independent UK

1.7m UK homes facing soaring bills as heating oil costs doubled in a week amid Iran conflict

Heating oil’s more volatile pricing is fed straight through to consumers, a key difference to gas and electricity energy supplies

The Guardian - UK

Lengthy US-Iran war would affect ‘lives and households of everybody’, says Starmer

Ministers understood to be considering ways to mitigate rising energy bills as oil prices surpass $100 a barrel

The Independent UK

Oil prices: What it means for your money as Brent crude surges again after Iraq tanker attacks

Energy bills rising is an inflationary pressure the UK’s economy could do without

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