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The Latest Breaking News from Oil

Tokyo workers encouraged to wear shorts to cut energy costs and keep cool

Officials hope more casual attire for public servants will save electricity during Iran war as summer heat approaches

The Guardian - UK

How frustration at Cop stalemates inspires first global talks on phasing out fossil fuels

‘Coalition of the willing’ gathers in Colombia to try to bypass petrostate blockages of Cop summits and chart fresh path

The Guardian - UK

Nasdaq Futures Rally on Upbeat Intel Earnings and Iran Talks Optimism

June Nasdaq 100 E-Mini futures (NQM26) are trending up +1.33% this morning as strong quarterly results and guidance from chipmaker Intel, along with optimism over potential U.S.-Iran talks, boosted sentiment.

Barchart

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Ranked: Which countries have had the worst fuel price spikes since the Iran war?

Europe is feeling the pinch after the blockage of the Strait of Hormuz, with stark differences between countries.

Euronews

Oil prices rise again as Iran-US standoff over Strait of Hormuz continues

IN FULL

The Independent UK

Fatal Nurburgring accident: what happened to Juha Miettinen, and what comes next

Side-impact collision following oil spill proved fatal during 24h Qualifiers as investigation begins

Motorsport

The US protected ships from Iran in the Strait of Hormuz in the ‘80s. Could it again?

The U.S. Navy has long been familiar with the small boat tactics deployed by Iran’s paramilitary Revolutionary Guard

The Independent UK

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Lufthansa Cancels 20,000 Flights to Conserve Fuel, Other Airlines Got Spooked as Well

Lufthansa cancels 20,000 short-haul flights amid a jet fuel crisis caused by the war in Iran, impacting airlines globally. Delta Air Lines remains unaffected due to its oil refinery ownership.

International Business Times UK

Fuel shortages from the Iran war have spread to Europe, but the pain is hitting California and the West Coast as well—and help is years away

California’s refinery closures near Los Angeles and San Francisco are occurring just as the Iran war limits global supply.

Fortune

CCTV captures chaos at Iran hospitals amid strikes; patients and staff seen scrambling

Surveillance footage reveals chaotic scenes in Tehran hospitals during air strikes, with medical staff urgently evacuating patients, including newborns carried in fruit baskets. The ongoing Iran conflict, sparked by Operation Epic Fury, has escalated tensions in the Persian Gulf, disrupting oil shipments and leading to naval confrontations.

The Times of India

Newsletter: At first summit without Orbán, Zelenskyy rejects 'symbolic' EU membership

Also in this newsletter: EU approves €90 billion loan for Ukraine after Hungary lifts controversial veto.

Euronews

Oil prices reach $105 as Iran and US tighten grip on Strait of Hormuz

Stocks in South Korea, China and Hong Kong fell, while Nasdaq and S&P 500 futures advanced

The Independent UK

Businesses spend millions on alternative route as Strait of Hormuz crisis continues

Slots go to the highest bidder, with prices soaring in recent weeks

The Independent UK

Revealed: UK oil refinery owner moved Russian loans to offshore subsidiary where sanctions did not apply

MPs call for investigation into Essar Energy, owner of Stanlow refinery, which shifted loans from ‘Putin’s piggy bank’ VTB to Mauritius

The Guardian - UK

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Woman & Home

Warm Homes Plan update: how this green energy rollout will affect you and your energy bills

New legislation is designed to make energy cheaper – but is it likely to cut costs meaningfully? We asked the experts

The Independent UK

Asian stocks slip, tracking Wall Street losses, and Iran war doubts push oil higher

Shares are mostly lower in Asia, apart from Tokyo, and oil prices have extended gains as talks on ending the war with Iran were stalled

The Independent UK

Countries to gather in Colombia for summit aimed at breaking fossil fuel reliance

Governments from nearly 50 countries will meet in Colombia’s Caribbean city of Santa Marta to discuss how to move beyond fossil fuels, amid frustration that U.N. climate talks have failed to directly tackle oil, gas and coal production

The Guardian - AU

The Crunch: Children’s TV, Cuba’s dwindling fuel supply, and dating in Singapore

Data crunched on 200 TV shows. Plus: the disturbing world of TikTok child skincare influencers

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AAP

ASX logs second week of losses as banks, miners weigh

With no end in sight to the Middle East conflict, investor confidence is fading as soaring energy prices and inflation expectations hammer risk sentiment.

The Conversation

No diesel, no power: why the global oil shock is hitting NZ’s small Pacific neighbours hard

When Tuvalu recently moved to declare a state of emergency, it laid bare a major vulnerability long faced by New Zealand’s small and far-flung Pacific neighbours.

The Independent UK

Trump considers a taxpayer takeover of Spirit Airlines and would aim to resell carrier after oil prices drop

‘I think we just buy it,’ Trump told reporters in the Oval Office on Thursday

The Guardian - AU

Ukraine war briefing: Trump bristles at Prince Harry’s passionate plea for Ukraine

Duke of Sussex says US must ‘honour obligations’ as it persuaded Ukraine to give up nuclear weapons; US president retorts that Harry doesn’t speak for Britain. What we know on day 1,521

Barchart

Cotton Resume Higher Trade on Thursday

Cotton futures resumed gains on the Thursday session, as contracts closed with 17 to 81 cent gains. The US dollar index was 0.234 higher at $98.655. Crude oil was up another $4.04 to $97.00. Export Sales data showed a total of 119,947 RB of old crop cotton sold in the...

Barchart

Soybeans Face Modest Pressure on Thursday

Soybeans saw weakness for much of the Thursday session, with contracts down 1 to 4 ¾ cents. The cmdtyView national average Cash Bean price was down 4 cents at $10.97 1/4. Soymeal futures were mixed, with contracts 20 cents higher to 80 cents lower. Soy Oil futures reverted from midday...

The Conversation

Strait of Hormuz: Iran’s ‘nuclear deterrent’

This is the text from The Conversation UK’s World Affairs Briefing email. Sign up here to receive weekly analysis of the latest developments in international relations, direct to your inbox.

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