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The Latest Breaking News from Oil

Oil Shock From Iran Conflict Pushes Global Economy Toward Stagflation Risk: Analysis

A sustained energy supply shock is reshaping global economic expectations, with analysts warning that inflationary pressure and slowing growth are increasingly moving in tandem across major economies.

International Business Times

Your laundry bill is about to get more expensive—and Unilever says the Iran war is partly to blame

“There will be frequent price increases, but in small doses,” Unilever CFO Srinivas Phatak told analysts on Thursday.

Fortune

The week that was in international affairs: UAE to exit Opec; Ukraine makes Russia jittery

UAE exits Opec, impacting global oil dynamics amid regional tensions. Ukraine escalates attacks on Russia, forcing Moscow to scale back Victory Day parades. King Charles' US trip strengthens UK-US ties. Syria begins its first transitional justice trial. China pressures African nations, forcing Taiwan's President to cancel a trip.

The Times of India

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Move over TACO, NACHO takes over: Trump earns new nickname amid oil disruption from Strait of Hormuz blockade

Market analysts have shifted from the 'TACO' nickname for President Trump to 'NACHO' amid escalating tensions over the Strait of Hormuz. This new label reflects growing skepticism that the crucial global energy route will reopen soon, despite ongoing diplomatic efforts and trade disputes.

The Times of India

A month ago, Trump told allies the Strait of Hormuz was not his problem. Now he’s begging them to fix it for him

Well, it's his problem now.

We Got This Covered

European Parliament Defies U.S. Shift, Demands Sanctions Stay On Delcy Rodríguez and Other Venezuelan Officials

The European Parliament approved a resolution calling for sanctions to remain in place against Delcy Rodríguez and other Venezuelan officials, putting the EU legislature on a collision course with Washington's recent move toward economic reengagement with Caracas.

Latin Times

Signs of Weaker Energy Demand Fuel Long Liquidation in Crude Prices

June WTI crude oil (CLM26 ) today is down -2.01 (-1.88%), and June RBOB gasoline (RBM26 ) is down -0.0104 (-0.29%). Crude oil and gasoline prices gave up early gains today and fell sharply on concerns that higher energy prices are starting to curb demand and global economic growth. Long...

Barchart

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Why did the Bank keep interest rates the same despite rising inflation?

A large majority of policymakers opted to keep interest rates at 3.75% at the latest Monetary Policy Committee meeting on Thursday.

Evening Standard

Stocks Rally as Nasdaq 100 Posts a New Record High on Tech Earnings

The S&P 500 Index ($SPX ) (SPY ) today is up +0.39%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.20%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.17%. June E-mini S&P futures (ESM26 ) are up +0.35%, and June E-mini Nasdaq futures...

Barchart

Stock Market Today: Oil Prices Spike as Trump Orders 'Extended Blockade' of Iran and Rejects Nuclear Deal

Oil prices have surged due to US-Iran tensions and the UAE's exit from OPEC, impacting global markets. Analysts predict prolonged volatility as geopolitical factors continue to influence oil flows.

International Business Times UK

Australians will pay more if Albanese prioritises fossil fuel projects, former oil and gas leaders warn

Exclusive: Government should accelerate clean energy to protect consumers from ongoing price shocks, they say

The Guardian - AU

What alternatives do Gulf states have to the Strait of Hormuz?

Two months into the Iran war and the Strait of Hormuz is still mostly shut. Vessel traffic is running at a fraction of pre-war levels, with the patchwork of ceasefires, blockades and re-closures since February 28 not restoring confidence on the bridge of any tanker.

The Conversation

Dollar Falls as the Yen Rallies on Intervention Talk

The dollar index (DXY00 ) today fell to a 1-week low and is down by -0.67%. Today’s +2% rally in the yen is weighing on the dollar after Japanese Finance Minister Satsuki Katayama warned that Japan is close to intervening in the forex market to support the yen. Also, lower...

Barchart

U.S. Economy Expands By 2% In First Quarter But Iran War Muddies The Outlook

The U.S. economy expanded by 2% in the first quarter of the year, rebounding after the last three months of last year's 0.5% increase.

International Business Times

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The Independent UK

Strait of Trump? President shares AI map rebranding the Middle East

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Barchart

Stocks See Support from Lower Crude Prices, While Mega-Cap Tech Earnings are Mixed

The S&P 500 Index ($SPX ) (SPY ) today is up +0.08%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.73%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.18%. June E-mini S&P futures (ESM26 ) are up +0.11%, and June E-mini Nasdaq futures...

The Guardian - UK

Could the UAE’s shock exit from Opec cause an oil price war?

A standoff between Gulf oil giants Saudi Arabia and the UAE could cause greater market volatility for years to come

The Independent UK

Iran oil crisis ‘costs UK drivers £2 billion’ in just over a month

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Euronews

US seeks 'maritime freedom' coalition to restart Strait of Hormuz shipping

Iran effectively closed the crucial waterway when the war broke out on 28 February. Normally one-fifth of the world's oil and liquefied natural gas transits the waterway. Its closure has sent energy prices skyrocketing around the world.

International Business Times

Oil Surge Tests Market Optimism As Iran Conflict Risks Deepen

Brent's climb to multi-year highs highlights a widening gap between investor expectations and supply realities.

The Independent UK

Trump has a new wishlist project to slap his name on: He now wants the Strait of Trump in the Middle East

It wasn’t the first time Trump referred to the vital Middle Eastern passageway as the ‘Strait of Trump’

The Guardian - UK

Iran supreme leader issues defiant statement on strait of Hormuz

Mojtaba Khamenei says Tehran will eliminate ‘enemy’s abuses of the waterway’ and guard its nuclear and missile programmes

International Business Times

Key Inflation Rate Jumps To Highest Level In Almost Three Years As Oil Prices Spike

A key inflation gauge closely followed by the Federal Reserve jumped to its highest level in almost three years as oil prices spike and impact the cost of living in the U.S.

The Guardian - US

US economic growth rebounds 2% as consumer spending slows amid Iran war

First quarter output, driven by AI investment and government spending, rose as oil shock fuels inflation fears

The Conversation

The US has long used economic coercion to achieve foreign policy goals — the war in Iran shows how that power has declined

Two months after the United States, along with Israel, launched a war against Iran, that conflict appears far from a lasting resolution.

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Ayatollah Mojtaba Khamenei

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