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The Latest Breaking News from Oil

Labor says Australia won’t run out of fuel due to the Iran conflict. So how much do we have and how long will it last?

The amount of crude oil being refined locally has dwindled in recent years – but officials say Australia’s strategic reserve means there’s no need to worry

The Guardian - AU

Reeves reaffirms commitment to end windfall tax in talks with North Sea bosses

The Chancellor met figures from BP, TotalEnergies and Serica in Downing Street.

Evening Standard

‘High oil prices… for a little while’: Donald Trump admits his Iran war will drive cost of living up for regular folks

Even he can't deny we're all about to suffer.

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Why is the US threatening to blockade the Strait of Hormuz – and how could it work?

Millions of barrels of oil and gas are being held up after Iran took control of the strategic shipping route

The Independent UK

UK oil firm fined £13m for repeatedly publishing inaccurate financial results

Wood Group’s ‘desire to maintain previously stated financial results’ influenced inaccurate reporting, says regulator

The Guardian - UK

Hungarian foreign minister in Moscow for energy talks with Putin amid Ukraine pipeline row

Péter Szijjártó has travelled to Moscow to meet Russian President Vladimir Putin to secure guarantees on oil and natural gas imports, amid a dispute over damage to the Druzhba pipeline. The minister warned that the world is facing an energy crisis because of the war in Iran.

Euronews

Corn Falling Lower to Start Wednesday Trade

Corn price action is down 1 ¼ to 3 ¼ cents in the front months. Futures posted gains across most contracts on Tuesday, with contracts fractionally to 2 cents higher. Crude oil strength was supportive. Tuesday’s preliminary open interest was down 14,092 contracts, mostly in the old crop contracts, as...

Barchart

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Cotton Bouncing Back on Wednesday Morning

Cotton price action is up 30 to 55 points across most contracts on Wednesday morning. Futures are down 45 to 55 points in most front months on Tuesday. Crude oil was up $3.58 on the day to $74.81. The US dollar index is another $0.940 higher at $98.505. Uncertainty with...

Barchart

UK interest rates could go back above 4% if energy shock persists, Niesr warns

The National Institute of Economic and Social Research said the Bank of England will have to contend with a ‘shock’ to energy costs.

Evening Standard

Experts tell UK households to fix energy bills now amid Iran war price hike fears

Nearly 60 energy deals have already been removed or changed, experts warn

The Independent UK

Bitcoin Rockets Past $71,000 Despite Geopolitical Turmoil

The rally in digital assets came alongside gains in traditional financial markets, with equity prices also recovering ground.

International Business Times

Scrapping windfall tax on oil and gas is ‘utterly essential’, Swinney insists

The Scottish First Minister spoke out ahead of a meeting between Chancellor Rachel Reeves and North Sea leaders.

Evening Standard

Saudi Arabian Oil Co. (Saudi Aramco) Shares Dip Modestly in Early Trading Ahead of Key Earnings Release

RIYADH, Saudi Arabia — Shares of Saudi Arabian Oil Co., widely known as Saudi Aramco, edged lower in early trading on the Tadawul exchange Tuesday, reversing some of the previous session's gains as investors positioned ahead of the company's full-year 2025 earnings report later this week.

International Business Times

What are Europe's oil route alternatives to the Strait of Hormuz?

Many European countries like Italy, Greece, Spain, Poland and Belgium rely on the Strait of Hormuz for imports or refining. Experts say the closure of this corridor will not cut off Europe’s oil supply, but will continue to drive up oil prices and disrupt markets.

Euronews

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The Independent UK

Britain’s economic growth to be weakest in a century outside of pandemic and WWII, think tank warns

The UK’s top two economic think tanks – the Resolution Foundation and the Institute for Fiscal Studies – have issued dire warnings over economic growth and borrowing a day after Rachel Reeves delivered her spring statement

Barchart

Stock Index Futures Higher as Investors Digest U.S. ADP Jobs Report

March S&P 500 E-Mini futures (ESH26) are up +0.38%, and March Nasdaq 100 E-Mini futures (NQH26) are up +0.58% this morning, giving up earlier gains after U.S. Treasury Secretary Scott Bessent said a proposed 15% global tariff could take effect this week.

Euronews

Passage denied: Oil and gas prices swing wildly as Hormuz crisis drags on

Oil prices are climbing, albeit at a slower pace, as the US and Israel's war with Iran enters its fifth day, with little to ease concerns over the safety of the Strait of Hormuz — a vital artery for the global energy supply.

Kiplinger

5 Mistakes to Avoid in Oil and Gas Investing (Plus, 6 Ways to Stay Focused)

The nature of energy markets exacerbates unhelpful behaviors. Understanding the psychology of oil and gas investing can help you make smarter decisions.

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news in one place.

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Euronews

South Korean stocks suffer worst day on record amid Iran war shocks

Asian markets suffered heavy losses on Wednesday, with South Korea’s main index (Kospi) plunging more than 12%, recording its worst single-day decline in history as the widening conflict in Iran continues to disrupt global markets.

The Guardian - UK

War in Middle East ‘could wipe out growth in UK living standards’

Rising oil and gas prices may affect increase of £300 a year for typical working-age households, says leading thinktank

Evening Standard

Calm returns to markets in Europe but oil prices climb higher on Iran war

Brent crude lifted another 3% at 84.5 US dollars a barrel at one stage – its highest level since July 2024.

The Times of India

Why Khamenei’s death could become Trump’s most expensive victory

President Trump's decision to eliminate Iran's Supreme Leader Ayatollah Ali Khamenei has dramatically altered the Middle East. While a tactical victory, the move has triggered regional missile exchanges and rising oil prices. Analysts warn that removing Khamenei, who controlled escalation, may lead to a more unpredictable and volatile Iran, posing…

Times Pets

Indoor Safe Holi Ideas For Families With Pet

Use pet friendly colors A family celebrating Holi with flowers and decorations instead of chemical powders, ensuring their pet’s safety. Human colors are extremely toxic for pets, even the organic ones you get in the market, do not use them on any animals. If you must, you can use turmeric,…

The Independent UK

Iran war today: What happened in Middle East overnight as Israel launches ‘broad wave’ of strikes

The Israeli military says it launched a “broad wave” of strikes in Tehran early on Wednesday, targeting “the Iranian terror regime’s launch sites, aerial defence systems and additional infrastructure”. The Pentagon has named the first four American personnel killed in the widening conflict; they are Capt Cody A Khork, 35,…

Evening Standard

Rachel Reeves in emergency talks with oil and gas chiefs amid warning of £500 rise in energy bills

Fears are growing that Donald Trump’s Iran war will push up energy bills in Britain

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