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The Latest Breaking News from Oil

Brent crude trades near $105 as Iran attacks more Gulf targets, while shares are mixed

Brent crude oil is trading near the $105 per barrel level as Gulf countries report more attacks by Iran with the war entering its third week

The Independent UK

Markets may be underestimating how the Iran war could hit the global economy

Beyond the battlefield, the Iran war is exposing fragile economic chokepoints from energy routes to fertilisers and industrial gases, raising concerns among economists that supply disruptions could shape global prices and trade long after the conflict ends.

Euronews

Ukraine-Russia war latest: Zelensky arrives in UK as Starmer government vows ‘not to forget war in Europe’

John Healey said the world faces ‘two conflicts on two continents’

The Independent UK

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Fossil fuels ‘ripping away national security’ but renewables ‘turn the tables’, says UN executive

‘Sunlight doesn’t depend on vulnerable shipping straits,’ says UNFCCC’s Simon Stiell.

Euronews

Oil prices climb despite Trump moves to temper market

The global benchmark Brent crude jumped to over $106 per barrel, over $3 above Friday's close.

Axios

Trump says he demanded 'about seven countries' to join coalition to police Iran's Strait of Hormuz

Trump says attacks on Iran could last several more weeks despite soaring energy costs. The US president says he is assembling a coalition to help police the Strait of Hormuz and escort stranded oil vessels out to address international energy supply crises caused by the war.

Euronews

Iran-US war latest: US embassy in Iraq attacked while Trump lashes out after Nato rejects Strait of Hormuz demand

The US president said it is only appropriate that those who benefit from oil coming through the waterway help to free it

The Independent UK

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Trump steps up pressure on European allies to help protect strait of Hormuz

US president says it is ‘only appropriate’ for Europe to help, and warns failure to do so would be ‘very bad’ for Nato

The Guardian - AU

UAE reopens airspace after Iran attack – as it happened

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The Guardian - AU

Energy markets face uncertain environment: oil producer

The war in the Middle East is having wide-ranging impacts on markets, oil and gas producer Woodside has told investors at its annual sustainability briefing.

AAP

Trump eyes "Hormuz Coalition," seizure of Iran's Kharg Island oil hub

Seizing Kharg Island would require U.S. boots on the ground.

Axios

'We'll remember': Trump asks 7 countries to send warships to police Strait of Hormuz

President Trump is demanding approximately seven countries send warships to secure the Strait of Hormuz, emphasizing their reliance on Middle Eastern oil. He stated the US has significantly degraded Iran's military capabilities, including air defense and manufacturing. Iran's Foreign Minister indicated passage is a military matter and sees no reason…

The Times of India

Ukraine war briefing: Zelenskyy wants new system to control Ukraine drone sales

Foreign countries and firms should not be able to bypass the government, Zelenskyy says. What we know on day 1,482

The Guardian - AU

Gas Hits $3.70 a Gallon as Countries Ignore Trump's Strait of Hormuz Plea

Fuel prices reach £2.92 ($3.70) per gallon amid the Iran conflict as global powers ignore Donald Trump's urgent plea to secure the vital Strait of Hormuz.

International Business Times UK

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The Guardian - AU

Oil prices rise after Trump claims US ‘totally demolished’ Iran’s Kharg Island export hub

Another weekend of violence compounded global market concerns over war in the Middle East, following US strikes on the vital oil hub

The Independent UK

Starmer rejects Trump’s threats after US president warns Nato faces ‘very bad’ future

Senior cabinet minister Pat McFadden said Britain was not obliged to enter the US’s ‘war of choice’ and that the Iran conflict had nothing to do with the alliance

Evening Standard

PM pledges cost of living help after resisting Trump’s call for warships

Sir Keir on Sunday did not answer calls from Mr Trump to deploy warships to secure the Strait of Hormuz, a key oil trade route in the Middle East.

The Times of India

Kharg Island: Iran's oil hub in the crosshairs

NEW DELHI: US airstrikes on Kharg Island, the nerve centre of Iran's oil export network, have sharply escalated tensions in West Asia and raised fears of further disruption in global energy supplies. While Iran claimed that oil operations on the island continued despite the attack, it warned that retaliation could…

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The Times of India

Trump plans global coalition to escort ships in Strait of Hormuz amid Iran tensions: Report

President Trump is preparing to announce an international coalition to escort commercial vessels through the Strait of Hormuz amid escalating tensions with Iran. The US Navy will support ships navigating the strategic waterway, which Iran has threatened to restrict. This move aims to ensure the safe passage of oil, with…

Fortune

Despite Greenland crisis, Trump suggests NATO owes him help on Iran war after U.S. support for Ukraine. 'We’ve been very sweet'

“If there’s no response or if it’s a negative response I think it will be very bad for the future of NATO."

International Business Times UK

Iran Offers Oil Tankers Safe Passage Through Strait of Hormuz but Only Under Two Conditions

Iran's new conditions for oil tanker passage through the Strait of Hormuz could reshape global energy markets, linking access to Chinese yuan trade.

Evening Standard

'End Iran war swiftly,' Keir Starmer tells Donald Trump to stop bills soaring in oil crisis

But the US president has said America is not ready to end the conflict which has entered its third week

The Guardian - UK

Starmer to announce support for households hit by energy price spike

Prime minister expected to set out tens of millions of pounds in help for heating oil users as conflict with Iran drives up costs

The Guardian - UK

UK plans to send minesweeping drones to help reopen strait of Hormuz

Government reluctant to dispatch ships amid concerns complying with Trump’s demands could escalate Iran crisis

Evening Standard

Keir Starmer to pledge cost-of-living support amid Middle East crisis

The Prime Minister will on Monday say that helping families with living costs is ‘my first priority’.

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