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The Latest Breaking News from Oil

Oil price drops below $90 a barrel after Iran says strait of Hormuz is open

Gas price also falls and markets rise amid hopes Donald Trump will succeed in reaching deal with Tehran

The Guardian - UK

California Progressives Want 'Big Oil' To Fix an Insurance Crisis Created by the State's Price Controls

Instead of confronting the problems with the state's heavily regulated insurance market, lawmakers are looking for a scapegoat.

Reason

Colombia's environment minister says Middle East crisis should speed energy transition

Colombia’s environment minister said global crises, including conflict in the Middle East, should accelerate the shift away from fossil fuels, even as geopolitical tensions complicate the energy transition

The Independent UK

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Dollar Sinks as Iran Says Hormuz is Open

The dollar index (DXY00 ) today fell to a 7-week low and is down by -0.45%. The dollar is under pressure today in hopes that an end to the war in Iran is near, curbing safe-haven demand for the dollar. Also, today's rally in stocks has reduced liquidity demand for...

Barchart

Oil prices drop sharply and global markets surge as Strait of Hormuz reopened

Brent crude fell more than 10% to just under 89 US dollars a barrel in afternoon trading as Iranian authorities said the strait has fully reopened.

Evening Standard

Stocks Rally as Iran Announces Strait of Hormuz is “Completely Open”

The S&P 500 Index ($SPX ) (SPY ) today is up +0.87%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.33%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.86%. June E-mini S&P futures (ESM26 ) are up +0.93%, and June E-mini Nasdaq futures...

Barchart

Global Oil Prices Collapse as Iran Flashes Green Light at Hormuz, but Trump Refuses to Blink on Naval Blockade

Oil prices plunged after Iran declared the Strait of Hormuz fully open to commercial shipping during the Israel–Lebanon ceasefire, while Donald Trump insisted the US naval blockade of Iranian ports would remain

International Business Times UK

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Oil prices plunge on claims Strait of Hormuz is open

Prices dropped over 10% Friday after President Trump and an Iranian official separately claimed the Strait of Hormuz is open.

Axios

Oil price falls as Iran says Strait of Hormuz ‘completely open’

The announcement came as Sir Keir Starmer and Emmanuel Macron led talks in Paris to safeguard the oil and gas shipping route after the Iran war.

Evening Standard

Household energy bills ‘set to rise by lower-than-first feared’ in July

Wholesale energy costs are not seen coming back down to pre-war levels until the Strait of Hormuz is reopened

The Independent UK

Fuel prices dip for first time since start of Iran oil crisis

The RAC said ‘drivers will be relieved’.

Evening Standard

Current price of oil as of April 17, 2026

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

Fortune

Cotton Rally Continuing on Friday Morning

Cotton price action is up 60 to 75 points on Friday morning. Futures continued the rally on Thursday, with contracts closing 11 to 71 points higher on the session. The US dollar index was $0.184 higher at $98.035. Crude oil was up $1.90 on the day. USDA Export Sales data...

Barchart

Inflation Shock Ahead? Get Ready for Impact

An inflation shock is coming, but it may not be long-lived. The best thing for investors to prepare for is summer volatility - nothing new about that.

MarketBeat

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International Business Times UK

Britain Is One of the Most Vulnerable Countries in Europe for Jet Fuel; IEA Says Flights Could Be Cancelled From May

Europe faces a jet fuel shortage, raising concerns about potential flight disruptions. The UK is particularly vulnerable due to its reliance on imported fuel and limited refining capacity.

The Guardian - UK

Sanctions don’t result in regime change. Whether against Iran or Russia, western countries need shrewder tactics

Dissent cannot take hold in soil rendered barren by emigration and embargo. Political opposition needs academic and cultural exchange if it is to prosper, says Guardian columnist Simon Jenkins

The Conversation

Crypto tolls in the Strait of Hormuz shows why bitcoin thrives in times of crisis

Bitcoin has long been promised to function as money. In practice, it rarely does.

Barchart

Why Are Fridays in the Commodity Complex Easy to Predict?

As I've said before, the job of analyzing markets has grown much easier given the repetitive cycle of market drivers.

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news in one place.

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International Business Times UK

Europe Is on the Brink With Only About Six Weeks of Jet Fuel Left: IEA Energy Chief Issues Dire Warning

Europe may face flight cancellations as jet fuel supplies dwindle due to the Iran conflict and Strait of Hormuz closure, warns the International Energy Agency.

Euronews

Hormuz standoff shows no signs of letting up for vital shipping to resume from Gulf

Maritime traffic in the Strait of Hormuz remained at minimal levels on Friday resulting in a giant parking lot, as the US-Iran standoff continues with the same cautious approach since Monday.

Euronews

Flying soon? What the jet fuel crisis means for travellers and airlines

Jet fuel prices have roughly doubled since the war in Iran began – and shortages could start next.

Evening Standard

Keir Starmer arrives in Paris for Strait of Hormuz talks

The Strait of Hormuz has been blockaded by Iran since the US-Israeli strikes on the country began, threatening world oil supplies.

Player One

'Roblox Oil Empire' Codes April 2026: Drill Deeper to Be Richer

New "Roblox Oil Empire" codes offer free Rainbow Packs and cash boosts, helping players grow faster in this popular tycoon game.

GOBankingRates

Trump Blocks Iran Ports, Sending Prices Soaring on Oil, Fertilizer and More

Trump's blockade of Iranian ports are disrupting global supply chains, risking higher fuel, fertilizer and food costs higher.

The Independent UK

Rachel Reeves unveils oil drilling plan for North Sea

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