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The Latest Breaking News from Oil

Oil producers, shipowners in standoff over who takes Hormuz risk

This standoff highlights the extreme dangers of this vital energy route, with owners demanding unrealistic guarantees and charterers unwilling to accept the burden.

The Economic Times

Oil prices continue to fall amid hopes for new US-Iran ceasefire deal

IN FULL

The Independent UK

Asia and Africa turn to nuclear power as Iran war sparks energy crisis

There are 31 countries that use nuclear power, which provides about 10 per cent of global electricity

The Independent UK

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Eight dead as helicopter crashes minutes after take-off on Borneo island

The helicopter was flying between palm oil plantations

The Independent UK

Geelong Refinery Fire Exposes How Thin Australia’s Fuel Safety Net Really Is

A fire at Viva Energy’s Geelong refinery has rattled confidence in Australia’s already stretched fuel system. Here’s what experts say.

Pedestrian.tv

Helen Goh’s recipe for Anzac sandwich biscuits with dark chocolate filling

Chewy in the middle, crisp at the edges, sandwiched with chocolate

The Guardian - UK

Iran-US war latest: Tehran accuses Trump of ‘piracy’ after US forces seize tanker in Strait of Hormuz

Donald Trump threatened to strike Iran’s civilian infrastructure if Iran ‘don’t take the deal’ as ceasefire nears end

The Independent UK

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Oil prices fall again amid Middle East ceasefire hopes after Wall Street sets another record

Asian stocks were down slightly on Friday after a week of strong gains, with investors watching for signs of a ceasefire extension between the US and Iran

The Independent UK

Macron and Starmer hold international summit on reopening the Strait of Hormuz

The leaders of France and the U.K. are holding an international summit to push forward efforts to reopen the Strait of Hormuz, a vital oil route affected by the U.S.-Israeli war with Iran

The Independent UK

ASX runs out of steam despite hopes of US-Iran deal

Banks, gold miners and retail stocks have weighed on the bourse, as focus shifts from headline risk to the lingering impacts of the Middle East oil price shock.

AAP

‘Trump tax’ from Iran war blamed for soaring bills as Brits look for new home energy solutions

A large number of Brits want more government support for insulation and funding for solar panels and heat pumps to tackle a future energy crisis

The Independent UK

Cotton Rally Extends to Thursday

Cotton futures continued the rally on Thursday, with contracts closing 11 to 71 points higher on the session. The US dollar index was $0.184 higher at $98.035. Crude oil was up $1.90 on the day. USDA Export Sales data from this morning showed a total of 161,101 RB of old...

Barchart

Starmer to say opening Strait of Hormuz ‘global responsibility’ at Paris meeting

A fifth of the world’s oil normally flows through the crucial shipping lane.

Evening Standard

Trump says ‘windmills put you out of business’ as he hits out at UK’s North Sea policy in latest jibe at Starmer

The US president criticised the country’s policy in the basin as the UK government moves towards renewable energy

The Independent UK

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The Independent UK

IPC report finds that soaring oil prices threaten to deepen hunger in Haiti

A new report states that the number of people facing high levels of hunger in Haiti is expected to drop slightly, although officials say the situation remains critical and that any small gains might soon be erased because of soaring oil prices linked to the war in Iran

Barchart

Stocks Settle Higher on Tech Earnings and Ceasefire Optimism

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +0.26%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.24%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.49%. June E-mini S&P futures (ESM26 ) rose +0.23%, and June E-mini Nasdaq futures...

Kiplinger

Nasdaq Extends Winning Streak to 12: Stock Market Today

Crude oil was up again, and stocks were, too, as developments in the Middle East continue to command attention, but not broad price action.

The Independent UK

Jet fuel supplies are lagging. What does that mean for airlines and travelers?

A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn’t start flowing soon

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Barchart

Gasoline Price Predictions: Why Trump Is Calling for High Costs at the Pump to Last Through November (At Least)

Trump is warning Americans that gas prices, now averaging over $4 per gallon, could stay elevated or rise further through November because the Iran conflict and Strait of Hormuz disruption have tightened global oil supply.

Barchart

Crude Oil Rallies on Concerns US-Iran War to Persist

May WTI crude oil (CLK26 ) on Thursday closed up +3.40 (+3.72%), and May RBOB gasoline (RBK26 ) closed up +0.0945 (+3.08%). Crude oil and gasoline prices rallied sharply on Thursday as the US naval blockade of the Strait of Hormuz entered its fourth day, curbing oil supplies from the...

Barchart

Should We Expect Wide Swings in the Crude Oil Futures Markets?

Markets across all asset classes have been following crude oil since late February. We witnessed an explosive rally from the late 2025 and early 2026 lows to the March 2026 high. If the current rally resembles previous price spikes, it may not be long before the leading energy commodity experiences…

Homes & Gardens

Hannah Bronfman on Designing a Quietly Luxurious Home That Feels Calm, Personal, and Effortlessly Elevated

From meaningful interior details to mood-shifting rituals, Hannah exclusively reveals how her home is curated to restore and inspire

AAP

No extra fuel security measures after refinery inferno

An increase in Australia's fuel security level is not being considered, despite a major fire at an oil refinery disrupting 40 per cent of petrol production.

The Independent UK

Why drilling in the North Sea won’t bring down UK energy prices

Trump, Farage, the Tories and the right-wing press are all calling for it, but here's why experts say extracting oil and gas from the North Sea can't bring down UK energy prices

Barchart

Sugar Prices Follow Crude Oil Higher

May NY world sugar #11 (SBK26 ) on Thursday closed up +0.15 (+1.11%), and Aug London ICE white sugar #5 (SWQ26 ) closed up +6.00 (+1.46%). Sugar prices settled higher on Thursday as a +3% rally in crude oil prices (CLK26 ) sparked short covering in sugar futures. Higher crude...

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