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The Latest Breaking News from Oil

Russia earned €6bn from fossil fuel exports since start of Iran war, data suggests

Figures from thinktank show Russia received extra €672m in revenues from oil, gas and coal during March so far

The Guardian - UK

Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

Africa is waiting for real financing from the global Loss and Damage Fund designed to help countries cope with climate-related destruction. From the Strait of Hormuz to African markets: Rising geopolitical tensions are pushing up global oil prices—driving higher fuel and food costs in Africa

Euronews

Recession and stagflation risks are rising due to Iran conflict, as economist warns it’s ‘getting harder to argue disruption will be temporary’

"Clearly, the longer that oil remains at these levels, expectations of a sustained shock will only grow," Deutsche Bank's Jim Reid said.

Fortune

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

Current price of oil as of March 12, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

Climate watchdog urges France to set roadmap to phase out fossil fuels

France’s top climate advisory body on Thursday called on the government to set out a precise roadmap for phasing out coal, oil and gas, warning that the country's "ambitious" climate targets will need clearer political backing and stronger implementation.

Radio France Internationale

Iran war punctures Trump’s ‘drill, baby, drill’ promise on US gas prices, experts say

Fossil fuel supply is more vulnerable to global shocks than renewable power sources and efforts to boost efficiencies

The Guardian - US

Soybeans Continue Double Digit Gains on Thursday Morning

Soybeans are trading with 15 to 17 cent gains so far on Thursday. Futures saw gains of 12 to 14 cents in the front months on Wednesday. Open interest showed net new buying, up 15,897 contracts. There were 23 deliveries notices against March futures overnight. The cmdtyView national average Cash...

Barchart

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Cooper flies to Gulf in show of solidarity amid Iranian bombardment

The Foreign Secretary’s visit is the first to the region by a UK minister since the outbreak of war at the end of February.

Evening Standard

'We'll make a lot of money,' says Trump as oil price jumps leaving millions facing higher energy, petrol and food bills

‘The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,’ says the US president

Evening Standard

'We are simply not ready': US says its military cannot escort vessels in Strait of Hormuz right now

America's military is currently unable to escort oil tankers through the Strait of Hormuz. Energy Secretary Chris Wright stated that military assets are focused on Iran's offensive capabilities. Escort operations are expected soon, possibly by month's end. US forces have eliminated Iranian vessels suspected of laying mines near the strait.

The Times of India

First Thing: Iran escalates attacks on infrastructure and transport networks across the Gulf

Oil prices again rise over $100 a barrel as Iran threatens long ‘war of attrition’. Plus, San Francisco slashes air pollution

The Guardian - UK

Iran strikes neutralise record IEA reserves release as oil tops $100

Oil spiked above $100 a barrel on Thursday following fresh Iranian attacks on Omani oil storage facilities, reversing any downward pressure from the IEA's record release of 400mn barrels announced the previous day.

Euronews

I’m an Economist: 5 Ways the Iran War Could Impact Your Retirement Savings

Rising Iran tensions could further impact markets, oil prices and inflation -- putting 401(k)s, IRAs and retirement savings at risk in unexpected ways.

GOBankingRates

Iran conflict creating ‘largest oil supply disruption in history’, says IEA

It came as oil prices lifted higher again on Thursday as Iran continued to strike key energy and shipping infrastructure in the Middle East.

Evening Standard

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The Independent UK

Explosive boats set fuel tankers ablaze in Gulf as Iran ramps up threats on global shipping

Iran continues to claim attacks on commercial ships and lay mines in an effort to squeeze international energy markets

International Business Times

IEA Releases 400 Million Barrels from Reserves to Ease Energy Prices

The International Energy Agency released 400 million barrels of oil from reserves to stabilize global energy markets disrupted by the Strait of Hormuz crisis.

The Times of India

Watch: Moment Iranian 'suicide boat' struck US-owned tanker

Iran's attack on the US-owned tanker 'Safesea Vishnu' near Basra has claimed the life of an Indian national, with 27 others rescued. This incident, occurring amidst escalating West Asia tensions, has led to the suspension of oil terminal operations in Iraq. India's External Affairs Ministry is prioritizing the welfare of…

Evening Standard

Ditch dry, winter skin: 19 ways to supercharge your body care for spring, from head to toe

The great reset is here. Georgia Day rounds up the lotions and potions for your seasonal glow up

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news in one place.

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Fortune

Oil went over $100 again after the U.S. admitted it cannot control the Strait of Hormuz

Oil is trading like a meme stock, some analysts say.

The Guardian - UK

Save our soles! Cobblers on the 15 best ways to look after your shoes

Rotate your trainers, oil your leather footwear and use toe protectors – and whatever you do, don’t chuck your shoes in the washing machine

Barchart

Stocks Slip Before the Open as Middle East Conflict Lifts Oil, U.S. Economic Data on Tap

March S&P 500 E-Mini futures (ESH26) are down -0.62%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.61% this morning as the escalating Middle East conflict pushes oil prices higher and weighs on risk appetite.

The Independent UK

Zelenskyy says Ukraine awaits White House sign-off on US drone production deal

Ukrainian President Volodymyr Zelenskyy says he is awaiting White House approval for a major drone production agreement proposed by Kyiv last year

The Guardian - UK

Shell CEO’s pay jumps 60% despite slump in profits at oil company

Campaigners say people unlikely to ‘look favourably’ on package for Wael Sawan, which rose to £13.8m in 2025

MyLifeXP

Why Petrol Prices Haven’t Risen Despite $100 Oil

Fuel prices influence nearly every part of daily life. From daily commuting to the cost of groceries and transportation, even a small change at the petrol pump can affect the entire economy. Recently, global oil markets witnessed a dramatic shift as crude oil prices surged close to $100 per barrel,…

Euronews

Iran escalation risks 'stagflation shock' for Europe, Commissioner Dombrovskis tells Euronews

EU economy chief says intensity and duration of the Iran war will define fallout of the crisis on Europe as global coalition agrees to the biggest release of oil reserves in history to stabilise energy market.

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