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The Latest Breaking News from Oil

Beijing Fires Back at Trump with a Legal Injunction Protecting Hengli and Four 'Teapot' Refineries

China's Ministry of Commerce issued a legal injunction against US sanctions on five Chinese oil refineries, marking a significant response to Washington's efforts to cut off Iranian oil revenue.

International Business Times UK

$100 Oil Shock: 3 Ways This Week’s Price Spike Could Hit Your Retirement Budget Fast

If you’ve noticed gas prices climbing again, you’re not imagining it, and it’s not just about what you pay at the pump. Recent global tensions...

Saving Advice

Swinney ‘very concerned’ by reports of BP considering leaving North Sea

Reports suggest the oil giant is considering its position in the North Sea.

Evening Standard

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EVs Slashed Global Fuel Consumption Massively In 2025

As EV sales grow, the future of gas and diesel isn’t looking all that great. Electric two- and three-wheelers were the biggest contributors.

InsideEVs

Drone kills 2 in Kherson minibus strike, as Russia claims front-line progress

A Russian drone attack on a minibus in Kherson, Ukraine, has killed two people and injured seven, according to local officials

The Independent UK

Two people killed and over a dozen injured in Russian attacks across Ukraine

Russia is continuing to bombard Ukrainian cities daily with barrages of drones and missiles as ceasefire talks appear to have stalled in the wake of the war in Iran. Kyiv says its counter strikes targeting Russian oil facilities have been achieving success.

Euronews

The year that shook the Gulf

The region's vision of a post-oil future has taken a major blow.

Axios

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One economist’s ‘radical idea’ to solve the biggest energy crisis in history: a reverse OPEC

UMass Amherst economist Gregor Semieniuk says the U.S. is the most powerful country to make the idea work.

Fortune

The Iran war has turned the world's shipping straits into a chessboard—and the U.S. aims to box out China from the Panama Canal to the Malacca Strait

As the war over the Strait of Hormuz wages on, the U.S. is quietly gaining more influence over the Panama Canal and the straits of Malacca and Gibraltar.

Fortune

Ukraine is hitting oil facilities deep inside Russia. Soaring fuel prices could blunt the impact

Ukrainian drones are flying deep into Russia to strike oil facilities

The Independent UK

Ukraine-Russia war latest: Fighting escalates as Putin’s troops attempt to invade new Ukraine city

Kostiantynivka is part of Ukraine’s heavily fortified fortress belt in the country’s east

The Independent UK

Reopening Strait of Hormuz will not mean ‘return to normal’, Starmer warns

The Prime Minister also insisted the UK must ‘take a different course’ for its future than returning to the ‘status quo’.

The Independent UK

Iran faces growing crisis as US blockade squeezes Hormuz, losses hit $4.8bn

Iran is facing mounting economic and military strain as a United States naval blockade around the Strait of Hormuz and Gulf of Oman continues to choke off its critical oil exports, with Pentagon-linked estimates putting losses at roughly $4.8 billion, a report by Axios said. The disruption has intensified pressure…

The Times of India

Ukraine war briefing: Russian oil hub of Tuapse hit for fourth time as environmental disaster mounts

Ukrainian drone attacks on refinery in Black Sea port cause toxic clouds and oil slicks on resort’s coastline; Kyiv to reform army. What we know on day 1,529

The Guardian - AU

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Barchart

Cotton Extends Rally on Friday

Cotton futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points. The US dollar index was $0.146 higher at $98.065. Crude oil was down $2.57 to $102.50. Managed money added another 3,891 contracts...

Barchart

Soybeans Rounds Out the Week with Strength

Soybeans futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher this week. November was up 27 cents on the week. The cmdtyView national average Cash Bean price was up 13 1/2 cents at $11.37 3/4. Soymeal futures were steady to...

Axios

Scoop: U.S. blockade has cost Iran $4.8 billion, Pentagon says

Officials want to emphasize the blockade's impact as peace talks stop and start.

Fortune

Exxon Mobil CEO sees “more to come” on price spikes from Iran war as Exxon, Chevron beat on earnings despite plunging profits

Exxon and Chevron are maintaining a wait-and-see approach to Venezuela, but they're taking diverging paths in the booming Permian Basin.

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Barchart

S&P 500 and Nasdaq 100 Post Record Highs on Solid Earnings

The S&P 500 Index ($SPX ) (SPY ) on Friday closed up +0.29%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.31%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.94%. June E-mini S&P futures (ESM26 ) rose +0.19%, and June E-mini Nasdaq futures...

Barchart

Dollar Rebounds as Trade Tensions Resurface

The dollar index (DXY00 ) on Friday rose +0.12%. The dollar recovered from a 2-week low on Friday and finished higher. Tariff tensions resurfaced on Friday, pushing the dollar higher, after President Trump threatened to raise tariffs on European automobile imports to as high as 25%. The dollar initially moved...

Barchart

Crude Prices Fall on Hopes for US-Iran Negotiations

June WTI crude oil (CLM26 ) on Friday closed down -3.13 (-2.98%), and June RBOB gasoline (RBM26 ) closed down -0.0198 (-0.55%). Crude oil and gasoline prices gave up early gains on Friday and settled sharply lower, with gasoline falling from a 3.75-year high. Crude prices came under pressure on...

International Business Times UK

Iran Considers Arming Dolphins with Mines Against US Warships as Blockade Bites

Iran is contemplating using dolphins armed with naval mines to attack US warships in the Strait of Hormuz, as tensions rise over the US blockade impacting Iran's oil exports.

Barchart

Cotton Continuing Rally on Friday

Cotton futures are following up Thursday’s limit gains with most contracts up another 116 to 150 points at Friday’s midday. The US dollar index is just $0.004 lower at $97.915. Crude oil is down $3.45 to $101.62. Export Sales data has export commitments at 10.691 million RB, which is 2%...

Barchart

Soybeans Trading with Friday Gains

Soybeans futures are trading with contracts 3 to 8 cents higher as nearby May is down 1 ½ cents. The cmdtyView national average Cash Bean price is up 9 cents at $11.32 1/4. Soymeal futures are steady to $1.70 lower, with Soy Oil futures up 22 to 42 points. There...

The Independent UK

Cuba's electric and petroleum workers celebrate their colleagues during massive rally

Tens of thousands of Cubans have crowded along Havana’s famed seawall to celebrate workers on their day, but few are more applauded than those who keep the socialist country powered

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