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The Latest Breaking News from Oil

How a facility turning plastic into jet fuel could solve the UK’s next oil crisis

As airlines and travellers feel the effect of global jet fuel shortages, scientists in Kent may have figured out a sustainable solution to the crisis

The Independent UK

Iran oil tankers turned back by US blockade

US naval actions have significantly disrupted oil traffic through the Strait of Hormuz, forcing six tankers carrying millions of barrels of Iranian oil back to Iran. While some vessels are being diverted, others have managed to pass, highlighting the ongoing impact of the conflict on global oil exports and the…

The Times of India

Middle East crisis could cost world $1tn while oil firms make ‘obscene’ profit, analysis finds

Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are suffering

The Guardian - UK

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Soaring Jet Fuel Prices Push Delta Airlines to Cut Mexico Routes, Raise Fees

Delta Executive Vice President and Chief Commercial Officer Joe Esposito said the plan is to reduce the financial drag from rising oil prices, with reductions beginning in the first quarter and likely extending into the summer.

Latin Times

'Gold Is Money': Billionaire Ray Dalio Urges Investors To Put 5–15% Into Gold As Iran War Threatens 20% of Global Oil Supply

Ray Dalio advises investors to allocate 5-15% of portfolios to gold amid the Iran conflict, citing its reliability as a store of value during geopolitical and financial instability.

International Business Times UK

How to complete Battening Down in Arc Raiders

Find the leaking oil pipe, photograph the seawall, and sample the shoreline for Apollo.

PC Gamer

Ukraine says it shot down record 33,000 Russian drones last month

The military has also established a new command within the air force to bolster the nation’s capabilities

The Independent UK

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Texas Railroad Commission GOP runoff: Who is running and what to know

The May 26 runoff pits incumbent Railroad Commissioner Jim Wright, who’s pitching himself as a “proven advocate for Texas energy,” against Bo French, who has cast himself as a “MAGA conservative.”

The Texas Tribune

Video: Fire erupts at Russia’s Tuapse refinery after Ukraine drone attack, nearby buildings evacuated

A Ukrainian drone strike ignited a massive fire at Russia's Tuapse oil refinery on the Black Sea, prompting evacuations. This major Rosneft facility, crucial for fuel exports, had previously halted operations after an earlier drone attack. Authorities are responding to the incident, with the Kremlin confirming measures are being taken.

The Times of India

Oil prices rise again as blockade continues in Strait of Hormuz

IN FULL

The Independent UK

Iran to reopen Strait of Hormuz if US lifts blockade, reports claim

Despite an ongoing ceasefire, the US and Iran are locked in a standoff over the Strait of Hormuz, through which a fifth of the world’s oil and gas trade passes in peacetime.

Euronews

Iran war briefing: Trump meets with national security over Tehran peace plan

Donald Trump discussed Iran's proposal to reopen the Strait of Hormuz and end the Middle East conflict with his national security team on Monday, but a US official told Reuters that the President “doesn’t love the proposal” as he wants a peace plan to address Iran’s nuclear programme. The conflict…

The Independent UK

BP slammed over ‘astronomical’ profits amid oil price spike caused by Iran war

The oil giant saw profits surge by over 130% to a better-than-expected 3.2 billion US dollars (£2.4 billion) in the first quarter.

Evening Standard

BP profits more than double as oil prices soar in Iran war

First-quarter profits of $3.2bn prompt outrage from campaigners, who say figures come at expense of consumers

The Guardian - UK

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The Independent UK

BP profits more than double as oil trading booms on soaring crude prices amid Iran war

The FTSE 100 firm’s preferred profit measure soared to a better-than-expected $3.2bn in the first quarter

The Conversation

Why Australia has to boost fuel supply – and electrify transport

As Australia’s immediate fuel crunch eases after successful efforts to diversify supply, policymakers are turning their attention to dealing with the next energy security crisis.

The Guardian - UK

UAE quits Opec in ‘pivotal moment’ for oil producing group – as it happened

It’s UAExit as the United Arab Emirates will leave Opec on 1 May, in a blow to the group of oil producers

Radio France Internationale

Colombia conference aims for ‘more honest conversation' to speed fossil fuel exit

More than 50 countries are meeting in Colombia on Tuesday to push forward plans for phasing out planet-heating fossil fuels – with new urgency driven by geopolitical tensions.

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Euronews

Spain, France, Portugal: Renewables race heats up as governments scramble to keep energy bills down

"As long as we depend on oil and gas, we will continue to pay the price of other people's wars,” said French Prime Minister Sebastien Lecornu.

The Independent UK

The air fryer isn’t just for nuggets – these recipes prove it

From crispy chilli beef to hot honey chicken and gooey cookies, Lucy Lord’s ‘Love Your Air Fryer’ shows how the kitchen staple has evolved into a genuinely versatile, everyday tool

The Independent UK

Shares fall in Asia and oil prices gain as talks stall on ending the Iran war

Shares are mostly lower in Asia and oil prices have gained as diplomatic efforts to end the Iran war stalled again

The Independent UK

Oil prices edge higher as Trump weighs Iran’s latest proposal to open Strait of Hormuz

US president is unhappy with latest Iranian proposal, US official says

AAP

Midnight Oil frontman leads 'great Australian mission'

Musician, activist and former politician Peter Garrett is hoping to usher in the next generation of Australians to care for the land as he begins a new role.

The Times of India

‘Return of the pirates’: Iran accuses US of ‘armed robbery on high seas’ after oil tanker seizures

Iranian official Esmaeil Baqaei on Tuesday accused the United States of effectively legitimising piracy after it seized two vessels allegedly carrying Iranian oil in the Indian Ocean.

AAP

ASX extends losses as Gulf worries buoy oil prices

Investor sentiment remains under pressure after weeks of earnings downgrades and the Middle East energy crisis weighing on hopes of future economic growth.

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