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The Latest Breaking News from Oil

Dollar Strengthens as Fed Rate Cut Chances Dim

The dollar index (DXY00 ) rose by +0.61% on Tuesday and posted a 3.25-month high. The dollar extended Monday’s rally on Tuesday after oil prices soared to an 8.5-month high, boosting inflation expectations and reducing the chance of additional Fed rate cuts, a supportive factor for the dollar. Market expectations...

Barchart

‘Free flow of energy’: Donald Trump orders US Navy to escort tankers through Strait of Hormuz

President Trump has ordered the US Navy to escort oil tankers through the Strait of Hormuz if needed and directed a federal agency to offer political risk insurance for maritime trade in the Gulf. This immediate action aims to guarantee the uninterrupted global energy supply amidst escalating Middle East tensions.

The Times of India

Crude Oil Sharply Higher as Iran War Disrupts Global Supplies

April WTI crude oil (CLJ26 ) on Tuesday closed up +3.33 (+4.67%), and April RBOB gasoline (RBJ26 ) closed up +0.0868 (+3.66%). Crude oil and gasoline prices rallied sharply for a second day on Tuesday, with crude posting an 8.5-month high and gasoline posting a 19-month high. The main bullish...

Barchart

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Iran’s missile mayhem show the limits of Middle East defences

The Israeli Operation Roaring Lion and the American Operation Epic Fury started early on Feb. 28 when both countries began attacking Iran. Their airstrikes killed Iran’s leader, Ayatollah Ali Khamenei, while striking military targets and cities across the country. More than 700 people have reportedly been killed in the attacks…

The Conversation

Iran has largely halted oil and gas exports through strait of Hormuz

At least four tankers have been struck by drones and maritime traffic has dropped by 80%, reports say

The Guardian - UK

Iran Fires on the One Port Designed to Bypass the Strait of Hormuz, and Oil Markets Are Already Reacting

The recent attack on Fujairah's oil facilities highlights the escalating tensions in the Gulf, impacting global oil supply and prices.

International Business Times UK

Trump issues Strait of Hormuz order to address oil crisis after Iran threats

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The Independent UK

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Middle East attacks intensify as Trump says he rejects Iran’s attempt to talk

US president claims ‘they want to talk. I said: Too Late!’, while Rubio threatens the ‘hardest hits are yet to come’

The Guardian - UK

Sugar Posts Modest Gains as Crude Oil Rallies

May NY world sugar #11 (SBK26 ) on Tuesday closed up +0.02 (+0.14%), and May London ICE white sugar #5 (SWK26 ) closed up +0.80 (+0.19%). Sugar prices posted modest gains on Tuesday, supported by surging crude oil prices. WTI crude (CLJ26 ) rose more than +4% on Tuesday to...

Barchart

Why oil prices aren't even higher after Iran strikes

Oil hasn't yet approached the $100-per-barrel — or higher — level that numerous market-watchers say is possible.

Axios

Social Security Checks vs. Rising Prices: What the Iran Conflict Could Mean for Seniors’ Buying Power

Seniors on a fixed income could experience a significant financial strain, limiting their buying power -- here's what you need to know.

GOBankingRates

Country by country, here's how the unfolding war is affecting the Middle East

The unfolding war in the Middle East has ricocheted across the region

The Independent UK

As Trump ramps up talk of a prolonged Iran conflict, oil prices skyrocket. Your wallet might feel it soon

The reality of war is slowly seeping in.

We Got This Covered

What will Rachel Reeves’s spring forecast mean for household finances?

The chancellor promises more money in people’s pockets, but the Iran crisis makes steeper inflation a pressing worry

The Guardian - UK

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GOBankingRates

5 Everyday Items That Will Become More Expensive If the Iran Conflict Continues

In light of this conflict, American consumers can expect a number of everyday items to spike in price as global supply lines and markets are disrupted.

The Conversation

What is the Strait of Hormuz, and why does its closure matter so much to the global economy?

The joint attack launched by the United States and Israel on Iran began on Feb. 27 and has sparked a fast-moving conflict that could expand across the Middle East.

The Guardian - UK

UK borrowing costs jump again on fears Iran conflict will curb growth

Investors suspect rising oil and gas costs will stoke inflation and delay cuts in interest rates

Barchart

Cotton Extending Losses to Tuesday

Cotton futures are falling 55 to 65 points across most contracts on Tuesday. Crude oil is up $3.89 on the day. The US dollar index is another $0.798 higher at $99.135. Uncertainty with China, as they have called for a halt to the strikes on Iran continues to be a...

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Barchart

Soybeans Mixed on Tuesday

Soybeans are showing steady trade on Tuesday, with contracts within a penny of unchanged. There were another 27 deliveries issued overnight. The cmdtyView national average Cash Bean price is down 3/4 cent at $10.9 1/2. Soymeal futures are down a dime, with Soy Oil futures 3 to 9 points lower....

Fortune

War in Iran could spark ‘stagflationary’ episodes worldwide, top economist warns

War in the Middle East could bring on one of the worst-case scenarios in macroeconomics.

International Business Times

Iran Could Create Global Energy Crisis With Retaliatory Strikes

The Iran war could create an energy crisis as the besieged regime lashes out at neighboring countries, hoping to destroy and compromise oil and gas infrastructure and supply chains.

Evening Standard

Global stock market sell-off deepens as oil and gas prices continue ascent

European and US markets fell deep into the red as the escalating conflict reverberated across global markets.

Barchart

Soaring Crude Oil Prices Boost Sugar Prices

May NY world sugar #11 (SBK26 ) today is up +0.06 (+0.43%), and May London ICE white sugar #5 (SWK26 ) is up +1.70 (+0.41%). Sugar prices are moving higher today, supported by surging crude oil prices. WTI crude (CLJ26 ) is up more than +6% today to an 8.5-month...

Evening Standard

Stocks retreat as oil surge raises inflation fear

The Middle East crisis overshadowed the Government’s spring statement.

Capital & Main

In New Mexico, Natural Gas Transporter Goes to the Mat Over $47.8 Million Fine

The state has spent $225,000 in staff time fighting Targa over emission infractions, some that the company reported itself.

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