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The Latest Breaking News from Oil

Full tank of diesel breaks £100 mark as Iran oil crisis deepens

Average diesel prices at UK forecourts on Tuesday were 182.8p per litre.

Evening Standard

Cost of filling typical family car with diesel breaks £100 mark as oil crisis deepens

The UK’s most expensive petrol is being sold for 199.9p per litre

The Independent UK

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The easiest way to scent your home like a luxury vacation.

Marie Claire

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US average fuel price passes $4 a gallon for first time in four years amid Iran war

Stocks rally after reports suggest Trump might end the war soon, saying ‘we’re not going to be there for too much longer’

The Guardian - US

The key shipping route under Houthi threat that could have a seismic impact on global economy

The Bab al-Mandab strait has been a vital shipping route for Saudi Arabia since the closure of the Strait of Hormuz

The Independent UK

Stock Index Futures Rally on Prospect of End to Middle East Conflict, U.S. Economic Data and Fed Speak in Focus

June S&P 500 E-Mini futures (ESM26) are up +1.02%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.94% this morning as sentiment got a boost after President Trump reportedly told aides he was willing to end the U.S. military campaign against Iran.

Barchart

Buckle up! Gas soars past $4 a gallon for first time since 2022 - and shows no signs of slowing down amid Iran war

Prices in at least two California cities have already eclipsed $6 per gallon

The Independent UK

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Keir Starmer to chair Cobra meeting over costs to households from Iran war

Sir Keir Starmer is set to chair a Cobra crisis committee meeting to address the impact of the war in Iran on UK households. Average energy bills are forecast to rise by almost £300 from July, reaching £1,929, despite a temporary fall in April due to green subsidy removal. Motorists…

The Independent UK

Fact check: Does Hungary have alternatives to the Druzhba pipeline?

Budapest insists it is dependent on Russian crude oil, but analysts suggest this could be the result of economic and political decisions, as well as technical constraints.

Euronews

First Thing: Kuwaiti tanker hit by Iranian drone attack in Dubai port

The attack came hours after Trump threatened to ‘obliterate’ Iran’s energy plants and oil wells unless it opened the strait of Hormuz. Plus, Israel to give death penalty to Palestinians convicted of lethal attacks

The Guardian - UK

Hardline conservative donors Tim Dunn, Farris Wilks ballooned Bo French’s Railroad Commission campaign

Tim Dunn and Farris Wilks made their fortune in the oil business. They’ve deployed millions of dollars to pull the Texas GOP and Legislature toward their hardline stances.

The Texas Tribune

Watch: EU governments are throwing billions at the petrol shock. Will it help?

European drivers face soaring fuel prices as the Iran war hits oil markets, prompting EU states to cut fuel taxes, cap prices and tighten regulation.

Euronews

What the Oil Market Is Telling Us Right Now About Energy and Gas Prices

There's no let-up in demand for oil and gas, so what happens if the war in Iran continues to constrain supplies? Consumers and investors should take note.

Kiplinger

Trump threatens to leave allies facing economic chaos by ‘ending war without reopening Strait of Hormuz’

US president tells aides mission to forcibly open the strait would push the war beyond his timeline of four to six weeks

The Independent UK

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Evening Standard

Keir Starmer to chair Cobra as costs to households from Iran war become clear

Prime Minister Sir Keir Starmer will gather senior ministers and officials for talks on the economic impact of the Middle East crisis.

Texas Observer

Texas Saw a $50 Billion Future in Clean Energy. Then the Political Winds Shifted.

Renewables brought income to ranchers and tax revenue to counties long buffeted by boom-and-bust oil cycles. Policy changes in Washington and unease on the ground threaten that momentum.

The Independent UK

Britain faces one of the largest shocks from Iran war energy crisis, warns IMF

Oil prices have soared in response to Iran’s stranglehold on tankers passing through the Strait of Hormuz

The Independent UK

US military pounds Iranian ammo depot with 900kg ‘bunker buster’ bombs in dramatic footage

US forces hit a target in the city of Isfahan with ‘penetrator munitions’ designed to tear into targets underground

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news in one place.

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International Business Times UK

Oil Prices Could Hit $200 as Experts Warn Hormuz Closure Past Mid-April Triggers Full-Blown Global Fuel Crisis

The global fuel crisis worsens as the Strait of Hormuz remains closed, causing oil prices to surge. Analysts warn of possible $200 per barrel prices, affecting global markets and consumer costs.

Euronews

EU calls on member states to curb oil demand and prepare for prolonged disruption

EU urges governments to boost energy savings and explore alternatives amid supply pressure, letter seen by Euronews reveals.

The Times of India

UAE announces April 2026 petrol and diesel prices as rates jump by up to Dh2 per litre

UAE motorists will face significant fuel price increases in April 2026, with petrol and diesel rates set to rise by up to nearly Dh2 per litre. This sharp hike, approved by the UAE Fuel Price Committee, reflects escalating global crude oil prices driven by geopolitical tensions and supply disruptions.

Evening Standard

Trump tells Britain 'go get your own oil’ and Hegseth mocks 'big, bad Royal Navy' in latest attacks on UK over Iran war

Donald Trump has blasted Britain for refusing to help in the ‘decapitation of Iran’ as rising oil and gas prices hit UK consumers

The Independent UK

Iran war briefing: Trump’s new threat to Tehran as Dubai oil tanker hit

IN FULL

Euronews

Newsletter: Lebanese minister says situation ‘dramatic’ as Israel expands ground invasion

Also in this newsletter: Euronews exclusively previews an EU statement on the Israeli bill re-introducing the death penalty, passed by the Knesset on Monday.

Fortune

Energy ‘vulnerable’ India seeks U.S. help to produce more oil and wean itself off Russia, Middle East reliance amid geopolitical turmoil

Cairn Oil & Gas aims to rapidly grow as India’s top private energy producer.

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