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The Latest Breaking News from Oil

Iran Says U.S. Blockade Is 'Doomed To Fail' As Oil Prices Remain Elevated And Strait Of Hormuz Closed

Iran said the U.S.'s blockade of its ports is "doomed to fail" as oil prices remain elevated and the Strait of Hormuz closed.

International Business Times

Oil prices hit highest level since Iran war's start

The jump will keep sending U.S. gasoline prices higher — and shows the market reacting to the possibility of a long stalemate.

Axios

What surging oil price means for UK petrol prices, supermarket costs and energy bills

Brent crude hit $125 overnight – and higher prices for longer will feed through to everyday products and services

The Independent UK

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Following UAE’s OPEC Exit Shock, Diamondback Energy Could Be the Smartest Bet Now

The UAE’s decision to exit OPEC/OPEC+ has injected new uncertainty into oil markets and pushed crude prices above $100 per barrel. Low-cost Permian operator Diamondback Energy may be positioned as one of the clearest near-term beneficiaries.

Barchart

Bank of England holds rates as Iran war sends oil prices to new highs

The Bank joins the Fed and Bank of Japan in sitting tight, as war in the Middle East drives oil prices higher and blows the spring rate-cut playbook apart.

Euronews

First Thing: US supreme court ‘demolishes’ Voting Rights Act

Ruling has gutted provision intended to prevent racial discrimination in voting. Plus, oil tops $126 a barrel to reach highest level since 2022

The Guardian - UK

Thousands more Britons install solar panels as Iran war sends fossil fuel prices soaring sky-high

The total number of solar arrays across the UK has now reached two million

The Independent UK

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Solar panel installations surge to pass two million across UK for first time

Ed Miliband says rising interest in solar helps families weather energy shocks and bring down bills.

Evening Standard

UK interest rates held – but Bank of England warns inflation could surge above 6%

The bank rate has been held at this level since 22 December 2025

The Independent UK

Nations move fossil fuel debate from pledges to strategies in Colombia

The world’s first conference on phasing out fossil fuels has ended in Colombia with delegates from 56 countries declaring that the global debate has shifted from whether to stop using oil, gas and coal to how to do it. Debt and financing remain major obstacles.

Radio France Internationale

Trump Pays Energy Firms £1.4B in Taxpayer Cash on Condition They Pivot from Clean Energy to Oil and Gas

The Trump administration paid energy companies nearly £1.4B to abandon offshore wind projects and invest in fossil fuels, following court blocks on executive orders against wind development.

International Business Times UK

The global economy has a month—eight weeks at most—to avoid a recession, warns top economist

“The irony in all this is that the U.S., which started the war, does better in relative terms than anybody else because of its energy supplies.”

Fortune

‘Time to move forward, or be left behind’: Colombia climate talks end with fossil fuel phaseout push

Europe dominated the Santa Marta fossil fuel summit. Here are the key takeaways.

Euronews

‘Historic breakthrough’: Colombia climate talks end with hopes raised for fossil fuel phaseout

Nearly 60 countries back voluntary roadmaps to wean world off coal, oil and gas, at conference prompted by frustration with UN climate summits

The Guardian - UK

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Euronews

Eurozone inflation hits 3% as oil prices spike and economic growth slows

Soaring oil prices linked to the Iran war pushed inflation higher in the euro area in April, while growth continued to underperform — a worrying combination for both consumers and policymakers at the European Central Bank.

The Texas Tribune

High gas prices eating into Texans’ budgets, fueling inflation

The average price for a gallon of gas in Texas has risen from $2.55 in early February to $3.78 at the end of April.

The Independent UK

How Iran’s mosquito fleet is skirting Trump’s Strait of Hormuz blockade

Iranian ‘fast attack ships’ reduce the need for a traditional navy to control the vital waterway

The Independent UK

Cost of Iran oil crisis on millions of UK drivers reaches ‘unwelcome milestone’

New analysis shows motorists have been paying an additional half a billion pounds for petrol and £1.5bn for diesel

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The Independent UK

Inflation hits 3% in Europe as Iran war spreads oil price shock

Soaring oil prices from the Iran war pushed inflation higher to 3% in Europe in April

The Independent UK

‘Silky soft and well conditioned’: The 11 Olaplex products I recommend as a beauty expert

From cult classics to newer launches, these are the Olaplex products that truly deliver on shine, strength and long-term repair…

International Business Times UK

Onder Albayram Fish Oil Raises Alarm as Study Links EPA Supplements to Tau Buildup Following Repeated Head Injuries

A new study in Cell Reports suggests EPA in fish oil may affect brain repair and Alzheimer's-related proteins, with implications for brain health and those with repeated traumatic brain injuries.

Fortune

The Strait of Hormuz is a data problem, not just a military one

GPS jamming, zombie ship IDs, and AIS blackouts have turned the world's most important oil corridor into a data void—and the real threat to global markets.

Euronews

Oil temporarily hits $126 wartime high as US–Iran standoff fuels supply fears

Oil markets face upward pressure on Thursday, with Brent crude briefly touching $126 as markets price in tensions in the negotiations between the US and Iran.

International Business Times UK

Japanese Airlines Hike North American and European Flights by $350 — Why?

Japanese airlines are increasing fuel surcharges on long-haul flights as rising oil prices push travel costs higher for passengers worldwide.

The Times of India

UAE announces petrol, diesel prices for May 2026 as fuel rates jump by up to 10% across Emirates

UAE motorists will face higher fuel costs in May 2026 as petrol prices see another significant increase. This marks the third consecutive monthly hike, driven by global oil market instability and geopolitical tensions. The latest revisions mean higher expenses for daily commutes and businesses reliant on transportation.

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