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The Latest Breaking News from Oil

China sets lowest growth target in over 30 years as economy feels strain

Beijing is trying to shift from investment-led to consumption-led growth

The Independent UK

UK must double down on renewables as wars drive up energy costs, experts say

Fossil fuel price surge after US-Israeli attacks on Iran prompts calls to end dependence on ‘volatile’ energy source

The Guardian - UK

Three ways to combat energy bill rises as Iran-US war sparks price hike fears

Energy price rises are coming, despite Ofgem’s best efforts

The Independent UK

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How the Iran war could create a ‘fertiliser shock’ – an often ignored global risk to food prices and farming

Tehran is moving to restrict – or effectively close – the strait of Hormuz to shipping, as part of the latest escalation in the war involving Iran.

The Conversation

Watch: Trump says adiós to trade with Spain — should Madrid do the same to Trump?

Spain's Prime Minister Pedro Sánchez declared a firm "no to war" and blocked the US from using Spanish soil for its Iran operations. In response, US President Donald Trump threatened to cut off all trade with Spain. Let’s break down what is at stake.

Euronews

Oil price continues to rise amid Middle East crisis but stock markets rebound across Asia

Reports of attack on US registered tanker in Gulf lifts crude by 3% to $84 a barrel as gas price also starts to climb

The Guardian - UK

What the conflict in Iran means for Putin and Ukraine

As the war in the Middle East spreads and intensifies, the one in Ukraine continues. While geographically some 2,500km (1,600 miles) apart, the consequences of US president Donald Trump’s latest military adventure for the Russian war against Ukraine will be acutely felt across several areas. In the short term, the…

The Conversation

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Trump pledged the ‘free flow of energy’ from the Middle East, and he has a week to show progress before prices really spike again

Solving the insurance and security issues is massive so long as Iran can still strike tankers.

Fortune

Australian petrol retailers accused of price gouging over rising fuel costs amid Iran war

Motoring groups accuse retailers of using conflict as an excuse to lift prices as Jim Chalmers asks ACCC to keep watch

The Guardian - AU

Slower UK interest rate cuts likely as some mortgage providers hike rates; oil and gas prices rising again – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Military bases and trade routes leave Africa exposed to war fallout

Africa hosts military bases within reach of Iranian missiles and is feeling the impact of rising oil prices and threats to shipping, as the continent again suffers from events largely beyond its control.

Radio France Internationale

Newsletter: US-Israeli strikes legally 'problematic' but 'righteous', Belgian Defence Minister says

Also in this newsletter: Hungary's energy giant MOL files EU competition complaint against Croatia's JANAF, and the EU seeks to constrain China dominance with "Made in Europe" push.

Euronews

FTSE 100 Live 05 March: Oil price higher, Rentokil leads stronger index

Calmer stock market conditions continued today despite a fresh rise for the price of oil.

Evening Standard

Crypto's 24/7 platforms dominated Iran war trading when markets closed

Over the weekend, as US and Israeli strikes on Iran unfolded, decentralised crypto exchanges operating around the clock became the primary venue for real-time price discovery in oil, gold and other assets.

Euronews

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The Independent UK

Ukraine-Russia war latest: Zelensky asks US to postpone upcoming peace talks due to Iran conflict

Zelensky says trilateral peace talks paused due to conflict in Middle East

The Conversation

Petrol prices too high? Here’s how quickly an EV could save you money

Petrol prices began rising even before the conflict in Iran drove oil prices higher. Australia imports around 80% of its fuel, which means prices can spike when geopolitical shocks ripple through supply chains.

The Independent UK

War with Iran chokes flows of oil and natural gas, highlighting energy security risks for Asia

The war with Iran is disrupting oil and LNG shipments through the Strait of Hormuz, a key artery for global energy trade, sending prices higher and threatening global growth

The Times of India

Rockets, missiles and drones fly across Iran and Israel; Middle East remains tense — how the war is unfolding

Escalating Middle East conflict sees Israel strike Lebanon and intercept Iranian missiles. A US submarine sank an Iranian warship, while Iran retaliated with strikes across the region. The US Senate backed President Trump's military actions against Iran. Energy supplies are threatened as oil prices soar and global markets react.

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news in one place.

100's of premium titles.
One news app.

AAP

Australian shares bounce on talk of Iran war slowdown

Hopes of potential de-escalation in the Middle East and US assurances around crude supply have supported a lift in equities, despite a fresh wave of attacks.

Axios

Scoop: Trump officials broker massive U.S.-Venezuela gold deal

The arrangement shows the tightening commercial bounds between Venezuela and the U.S.

The Independent UK

Asian shares jump after US stocks rebound as oil prices stop spiking

Shares have opened sharply higher in Asia after a rebound on Wall Street

Axios

How Iran's Strait of Hormuz shutdown could hit the global economy

A senior Iranian commander said Tehran's forces would attack any ship trying to pass through the strait.

The Independent UK

‘I lost £1000 in a day’: Heating oil price spike leaves households and suppliers out of pocket

Heating oil prices spiked by as much as £100 over the weekend

Barchart

Corn Eases Lower on Wednesday

Corn futures posted losses of 2 to 3 cents across most contracts on Wednesday. Crude oil was flat most of the day, failing to provide some spillover support. The CmdtyView national average Cash Corn price was down 3 1/2 cents to $4.02 1/4. USDA reported another private export sale of...

Barchart

Cotton Holds on to Close Wednesday with Gains

Cotton futures were up 10 to 15 points in the front months on Wednesday. The outside markets provided some support, as crude oil was up $1.54 on the day to $76.10. The US dollar index was back down $0.231 at $98.775. The Seam showed sales of 6,789 bales sold on...

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