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The Latest Breaking News from Oil

Oil prices rise further as Iran blocks vital shipping route

Brent crude rose by more than another 3% on Tuesday to a one-year high of 80 US dollars a barrel.

Evening Standard

Here we go again...can markets take the latest turmoil in their stride?

Investors have experienced copious financial crises in the last 40 years

Evening Standard

Chris Bowen urges motorists not to panic-buy petrol as oil prices jump amid Iran conflict

Energy minister says ‘there is no need to rush to the service station and fill up’ as treasurer urges consumer watchdog to monitor for price gouging

The Guardian - AU

From analysis to the latest developments in health,
read the most diverse news in one place.

What is a 'Fuel Duty Rise' and What Does Rachel Reeves Have to Do With It?

Chancellor Rachel Reeves faces mounting pressure over planned fuel duty rises as oil prices surge amid escalating Middle East tensions.

International Business Times UK

Iran conflict could have ‘very significant’ impact on UK economy, OBR warns; FTSE 100’s biggest fall in 11 months – as it happened

Spring forecast show UK unempoyment to peak higher than feared, as tax take heads for a record, but headroom against fiscal rules has increased

The Guardian - UK

FTSE 100 Live 03 March: Energy price surge continues, stocks deep in red

Fears of a new inflation spike have intensified after oil and gas prices today extended their upward momentum.

Evening Standard

Saudi Market Reaction: How Global Oil Prices React to Gulf Infrastructure Attacks

Drone attacks on the US Embassy and Aramco's Ras Tanura refinery in Riyadh raise security alarms and impact global oil markets

International Business Times UK

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Iran attacks threaten US economy with more uncertainty around inflation, growth

The U.S. and Israeli attacks on Iran add yet more question marks around a U.S. economy already buffeted by on-and-off tariffs, weak hiring, and lingering inflationary pressures

The Independent UK

Trump’s show of force in the Middle East creates a weakness China can exploit

Beijing can again leverage its critical minerals dominance over an increasingly busy US military, as Taiwan slides further down the White House list of priorities

The Guardian - UK

What Essential Oil Is Good for Congestion?

Congestion is an incredibly uncomfortable symptom to have to deal with during allergies or colds.

inkl

New satellite images capture aftermath of Iran's strike on Saudi Aramco oil refinery

Iran launched a barrage of drones and missiles at Gulf states, targeting energy installations in Qatar and Saudi Arabia, including the Ras Tanura Refinery. The US Embassy in Riyadh was also attacked. These strikes, continuing into Tuesday, mark a sharp escalation in regional conflict following the death of Supreme Leader…

The Times of India

Asian shares are mostly lower as investors focus on the Iran war's impact on energy supplies

Asian shares are mostly lower and oil prices have surged higher as investors eye risks to the region's energy supply because of the Iran war

The Independent UK

Why surging oil prices are a shock for the global economy – but not yet a crisis

Global oil markets have reacted swiftly to escalating tensions in the Middle East as the United States and Israel continue their assault on Iran.

The Conversation

Australian shares drop as conflict realities set in

ASX shares have given way after an optimistic start to the week as investors braced for more impacts of the Middle East conflict on oil prices and inflation.

AAP

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The Guardian - AU

‘Live’ chance of interest rate hike at March RBA meeting amid oil price spikes affecting inflation, governor says

Michele Bullock not ‘making a prediction’, but cites rise in oil prices due to attacks on Iran and tight labour market as factors in possible cash rate rise

The Guardian - AU

Ukraine war briefing: Russia’s army records slowest advance since 2024 amid Starlink cut, data shows

Kyiv’s forces find success along southern frontline in February, while Russian troops grind forward in the east. What we know on day 1,469

AAP

No pain at the pump: petrol companies warned on gouging

Petrol stations will be closely watched for signs of price gouging after military tensions exploded in the Middle East.

The Independent UK

Rachel Reeves urged to scrap fuel duty rise amid oil price fears following Iran-US war

Following the US and Israeli attacks on Iran, the price of oil jumped to 80 US dollars a barrel, with some analysts suggesting it could rise above 100 dollars

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news in one place.

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Evening Standard

Chancellor Rachel Reeves urged to scrap fuel duty hike amid oil price fears

The price of oil jumped to over 80 US dollars a barrel after the US-Israeli attack on Iran.

Barchart

Cotton Falls Lower on Monday

Cotton futures posted losses of 90 to 102 points in the front months on Monday. Crude oil was up $4.01 on the day following the US/Israel strikes on Iran over the weekend, but just over $4 off the overnight highs. The US dollar index was $0.940 higher at $98.505. Uncertainty...

Barchart

Soybeans Falls Lower on Monday with Geopolitical Uncertainty

Soybeans were 5 to 8 cents lower in the front months on Monday, with new crop contracts fractionally higher. There were another 158 deliveries issued on Friday evening. The cmdtyView national average Cash Bean price was down 2 cents at $10.91 1/4. Soymeal futures fell $2.30 to $7.60 lower, with...

We Got This Covered

Gas prices are expected to jump after oil surged 13%, and analysts warn this is only the start of the pain

War has a price.

Barchart

Stocks Recover as Iran War Pushes Energy and Defense Stocks Higher

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.04%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.13%. March E-mini S&P futures (ESH26 ) fell -0.01%, and March E-mini Nasdaq futures...

Barchart

Chicago Board of Trade Wheat Futures: Is a Sustained Rally Brewing?

Geopolitics alert: The 2026 US-Israel-Iran conflict has disrupted the Strait of Hormuz, spiking oil & freight costs. Higher energy = pricier fertilizer/transport → potential floor under wheat prices.

Fortune

Energy markets offer ‘relatively small reaction’ to Iran war, but prices could spike if oil and gas aren’t flowing by the end of the week

Crude prices jumped 6% March 2, but they have risen 25% since the beginning of the year as tensions with Iran have escalated.

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