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The Latest Breaking News from Oil

Europe rebukes US for temporarily lifting sanctions on Russian oil

German chancellor says decision is wrong and that pressure on Putin over Ukraine war should be increased

The Guardian - UK

China’s ban on fuel exports is deeply worrying for Australian air travellers

Australia’s vulnerability to liquid fuel shortages and price hikes has intensified amid reports China has told oil refiners to halt all fuel exports. This adds to continued global uncertainty about the duration of the Iran conflict and its impact upon oil supplies.

The Conversation

Do we want to keep fixing the same issue? Unlearned lessons from the first big oil crisis

As energy prices tripled in the 1970s due to Middle Eastern wars, Scandinavia, France and the Netherlands sped up green transition

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Ship escorts to start in Strait of Hormuz "soon," Trump officials say

Scott Bessent made the comments to Sky News as he confirmed the war had cost the U.S. $11 billion thus far.

Axios

Trump threatens Iran following new wave of attacks on Gulf states and Israel

Iran has launched launched multiple attacks on Gulf Arab states, including dozens of drones at Saudi Arabia, following warnings from its new supreme leader about hosting American bases

The Independent UK

Fossil fuel giants are ‘cashing in’ on the Iran war. Is it time for a tax on windfall profits?

As Europeans brace for higher oil and gas prices, G7 nations are being urged to tax fossil fuel giants profiting from the war on Iran.

Euronews

French soldier killed in Iraq as Iran war fallout continues to spread across region

Saudi forces intercepted more than two dozen drones on Friday after renewed Iranian threats against oil facilities, as the regional conflict killed a French soldier in Iraqi Kurdistan.

Euronews

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Trump news at a glance: president shrugs off highest gas prices in years

Trump claims US makes ‘a lot of money’ when oil prices go up, but rising costs could become political liability – key US politics stories from 12 March

The Guardian - US

The Latest: US hits Iran with intense strikes as Iranian air campaign drives oil prices higher

As American and Israeli strikes pound the Islamic Republic and Iran attacks Persian Gulf shipping and energy infrastructure with no sign of an end to the war, oil prices have soared back above $100 a barrel

The Independent UK

Newsom trolls Trump as Putin’s pup after US lifts sanctions on Russian oil during Iran war

As oil prices hit $100 a barrel again Thursday, the Treasury Department said it would allow countries to purchase Russian oil ‘currently stranded at sea’

The Independent UK

‘Acknowledging the obvious’: Russia reacts to US waiver on oil amid Iran war

Russia asserted that global energy markets cannot be stable without its oil, following a US temporary allowance for Russian crude sales already in transit. This move occurred as oil prices surged amid escalating conflict involving Iran, Israel, and the US, with Iran warning of retaliatory attacks on regional energy infrastructure.

The Times of India

Iran war and rising fuel costs could boost Panama Canal traffic, administrator says

The Panama Canal's administrator says the war in the Middle East and higher fuel prices make the canal more appealing for shippers

The Independent UK

Asia shares mostly lower and oil hovers around $100 a barrel over Iran war worries

Asia shares are mostly lower, tracking Wall Street losses, while oil prices hover around $100 per barrel

The Independent UK

More than $200b evaporates from Aussie market since war

The Middle East war continues to wreak havoc on equities as surging oil prices hammer global growth hopes and light a match under inflation expectations.

AAP

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The Guardian - AU

Ukraine war briefing: Putin envoy says US better understands importance of Russian oil amid energy crisis

Russian negotiator Kirill Dmitriev describes negotiations with Steve Witkoff and Jared Kushner as ‘productive’. What we know on day 1,479

The Conversation

Oil, petrol, gasoline: a chemical engineer explains how crude turns into fuel

As the US–Israel war on Iran escalates, so too does the global oil crisis.

Evening Standard

Yvette Cooper continues Saudi visit as Iran threatens to block key oil route

The Foreign Secretary arrived in the country on Thursday in a show of solidarity with Gulf states hit by Iran’s retaliation to US-Israeli strikes.

Barchart

As Crude Oil Prices Whipsaw, Buy These 3 High-Yield Dividend Stocks Now

With WTI swinging as high as $119 before settling in the mid‑$90s on Hormuz disruption, Westlake Chemical Partners, SunCoke Energy, and AngloGold Ashanti give income investors a rare combination of high yields, low betas, and real‑asset exposure that can cushion portfolios if energy-driven volatility sticks around.

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The Independent UK

US navy will escort oil tankers through Strait of Hormuz despite Iran threats, says treasury secretary

Scott Bessent said Chinese tankers have passed through the Strait in what he claimed was a sign Tehran ‘have not mined’ the passage

Barchart

Soybeans Hold onto Thursday Rally

Soybeans slipped back from the midday highs, as contracts were still 2 ½ to 13 ¼ cents higher, led by the front months. The cmdtyView national average Cash Bean price was up 13 1/4 cents at $11.52 1/4. Soymeal futures were up $1.90 to $4.80, with Soy Oil futures were...

Barchart

Corn Closes with Thursday Gains

Corn futures closed the Thursday session with contracts fractionally to 4 cents higher across the board. March expires on Friday. The CmdtyView national average Cash Corn price was up 2 1/4 cents to $4.19 ¾. Crude oil was up another $9.15 on Thursday to add to some spillover support. Export...

Barchart

Cotton Closes with Slight Gains on Thursday

Cotton futures saw mostly higher trade at Thursday’s close, as may was the exception down 3 points, with the rest up 7 to 25 points. Crude oil was up $9.15 to $96.40, with the US dollar index up $0.535 to 99.760. Export Sales data showed 253,177 RB of cotton sold...

MarketBeat

Chevron Hits New Highs Due to Oil's Rally, But Is It Sustainable?

Chevron has hit record highs thanks to soaring oil prices, but easing tensions or government intervention could quickly take the steam out of the rally.

The Times of India

Middle East news: HSBC makes bold GCC prediction as Iran vs US-Israel war rattles markets and oil prices surge

Despite escalating Iran vs US-Israel war, HSBC reaffirms strong confidence in GCC economies, signalling global banks are not retreating. The region's diversified economies, fiscal strength and strategic location continue to attract capital, even as markets grapple with conflict-driven volatility and energy price surges. Financial hubs like Dubai and Abu Dhabi…

Barchart

Eon Resources Stock Jumps on Oil Hedging Announcement. Is High-Flying EONR a Buy Here?

Eon Resources stock skyrocketed as the company announced expansion of its oil hedging program. Here’s why EONR shares still remain unattractive to own in 2026.

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