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The Latest Breaking News from Oil

Electric vehicles pass tipping point, breaking the link with oil prices

When the Strait of Hormuz first closed in March and oil hit US$120 a barrel, a very old question came back: is this finally the moment electric vehicles take off for good – or just another false start?

The Conversation

Crude Prices Climb as Global Oil Supplies Remain Disrupted

May WTI crude oil (CLK26 ) today is up +2.40 (+2.63%), and May RBOB gasoline (RBK26 ) is up +0.0655 (+2.13%). Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 3-week low. Crude oil and gasoline prices are moving higher today as the US naval...

Barchart

Stocks Edge Higher as Chipmakers Rebound

The S&P 500 Index ($SPX ) (SPY ) today is up +0.21%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.43%. June E-mini S&P futures (ESM26 ) are up +0.26%, and June E-mini Nasdaq futures...

Barchart

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BP sued in Kenya over alleged toxic waste from 1980s oil exploration

A Kenyan High Court has ruled that a class action lawsuit against BP can proceed

The Independent UK

How Iran cryptocurrency demands explain a key role of money throughout history

When Iran began demanding payment in exchange for safe transit through the Strait of Hormuz, it offered the option to pay in cryptocurrency. Likewise, the shadowy network of tankers that have smuggled Russian oil to world markets since the full-scale invasion of Ukraine in 2022 have often been paid this…

The Conversation

Wall Street seems to have decided the recession risk is over. Can the Australian market do the same?

Experts say US market ‘may have run ahead of itself’ while ASX 200’s more modest recovery is due in part to Australia’s reliance on fuel imports

The Guardian - AU

Man Says Only 'An Idiot' Goes To Valvoline For An Oil Change. Then An Expert Steps In: 'Former Valvoline Tech Here...'

An oil change is one of those tasks you do about every six months, either DIYing it or taking your car to a local service center. Because it's so simple and inexpensive, most drivers don’t pay it much mind.

Motor1

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At least 17 people killed in Russia’s deadliest attack on Ukraine this year

More than 100 injured across country after Russia launches nearly 700 drones and dozens of ballistic and cruise missiles

The Guardian - UK

Stocks Pressured by Weakness in Chipmakers

The S&P 500 Index ($SPX ) (SPY ) today is down -0.15%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.06%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.21%. June E-mini S&P futures (ESM26 ) are down -0.16%, and June E-mini Nasdaq futures...

Barchart

Orbán's defeat and US shift raise hopes to unblock EU sanctions on Russia

After Viktor Orbán's defeat at the polls and Washington's decision to phase out waivers for Russian oil, hopes are rising in Brussels that a package of sanctions against Moscow will finally be unlocked.

Euronews

Booking Holdings Down 15%, Is It Time to Buy?

BKNG stock is down nearly 20% on the year thanks to the oil surge. Now that markets are turning, is it time to buy this beaten-down travel stock?

MarketBeat

Europe has six weeks of jet fuel left caused by 'dire strait' crisis, IEA chief warns

Last week, the Airports Council International Europe wrote to the European Commission, saying jet fuel shortages could begin at the start of May if tankers do not start passing through the Strait of Hormuz.

Euronews

Cotton Rally Extending to Thursday Morning

Cotton prices are up another 50 to 60 points early on Thursday morning. Futures were in rally mode, with contracts up 77 to 137 points at the close on Wednesday. The US dollar index was $0.033 lower at $97.875. Crude oil was up 12 cents on the day. The Seam...

Barchart

Soybeans Slipping to Start Thursday Trade

Soybeans are down fractionally to 2 cents so far on Thursday morning. Futures were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. Open interest suggested net new buying, up 21,537 on Wednesday. The cmdtyView national average Cash Bean price was up...

Barchart

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Fortune

Current price of oil as of April 16, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Radio France Internationale

France releases suspected Russian 'shadow fleet' tanker following fine

A tanker suspected of belonging to Russia’s so-called “shadow fleet” has left the southern French port of Marseille after being held for several weeks by French authorities. France is one of several European countries that have imposed sanctions on Russian vessels over the war in Ukraine.

Latin Times

Iran signals possible Hormuz shipping relief if U.S. deal is reached - REPORT

Iran has floated a proposal to let commercial vessels move freely along the Omani side of the Strait of Hormuz if negotiations with the United States produce a deal that prevents a renewed military confrontation.

The Guardian - UK

Europe has only six weeks’ supply of jet fuel left owing to Iran war, says energy chief

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEA

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Euronews

Repsol agrees Venezuela deal to boost oil production and regain control of assets

Spanish energy company Repsol has reached an agreement with Venezuela’s government and state-owned company Petróleos de Venezuela (PDVSA) to regain operational control of key oil assets and sharply increase production over the next three years.

Times Pets

5 Common Homemade Foods That May Harm Your Dog

Feeding your dog feels like an act of love. Many people feel proud when they cook meals at home for their pets, thinking it is healthier than packaged food. But dogs have different nutritional needs compared to humans. Their bodies process food in a different way, and certain ingredients that…

The Texas Tribune

Texas oil and gas regulator Wayne Christian peddles oil-backed crypto coin

Government watchdogs raised conflict-of-interests concerns, but Christian said his involvement in the venture is “separate” from his elected position on the Railroad Commission.

The Times of India

New route? How are Iran-linked ships passing through Strait of Hormuz despite US blockade

Amidst a US naval blockade, Iran-linked vessels navigated the Strait of Hormuz, signalling potential route shifts. Traffic remains significantly reduced, with heightened checks by both US and Iranian forces slowing crossings. Conflicting claims emerge regarding successful breaches, as electronic interference and disabled tracking systems obscure full visibility in this critical…

International Business Times UK

Gas Prices May Not Hit $3 Until September, Treasury Chief Bessent Warns He's 'Watching' Gas Stations

Treasury Secretary Scott Bessent says $3 gas could arrive between June and September, warning the Trump administration plans to monitor gas stations. Stay updated on energy costs and petrol prices.

Fortune

Oil prices may be falling, but for the wrong reason: ‘Demand destruction’ throttling global consumption, report finds

The International Energy Agency said oil demand is projected to contract by 80,000 barrels per day in 2026.

Fortune

Why no nation is truly ‘energy independent’ while the Strait of Hormuz remains closed

The U.S. blockade is working, but a potential global recession still looms.

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