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The Latest Breaking News from Oil

Crude Prices Tumble on Hopes Negotiations to End Iran War Will Resume

June WTI crude oil (CLM26 ) today is down -3.37 (-3.21%), and June RBOB gasoline (RBM26 ) is down -0.0448 (-1.24%). Crude oil and gasoline prices gave up early gains today and retreated , with gasoline falling from a 3.75-year high, on hopes that negotiations to end the US-Iran war...

Barchart

Stocks Climb on Strong Earnings and Crude Oil Weakness

The S&P 500 Index ($SPX ) (SPY ) today is up +0.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.02%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.10%. June E-mini S&P futures (ESM26 ) are up +0.43%, and June E-mini Nasdaq futures...

Barchart

I tried to live for 24 hours without using oil-based products. It was ridiculously impossible

The world’s economy is completely dependent on petrochemicals. Is there any way to avoid them?

The Guardian - AU

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read the most diverse news in one place.

Donald Trump shamelessly wants Strait of Hormuz named after himself. But Gavin Newsom destroys him with 9 words

An ego as wide as the gulf.

We Got This Covered

Can higher oil prices negate damage to Qatari gas plant for Shell?

The British oil and gas producer will publish its financial results for the first quarter of 2026 on Thursday.

The Independent UK

Dollar Falls on Lower Crude Prices and a Weak ISM Report

The dollar index (DXY00 ) today is down by -0.33%. The dollar added to Thursday's sharp losses today, falling to a 2-week low. The strength in other G-10 currencies is weighing on the dollar today, with the euro climbing to a 1.5-week high and the yen jumping to a 2-month...

Barchart

Oil Prices Drop After Iran Submits Response To Proposal To End The War

Oil prices are dropping after Iran said it sent its latest response to the proposal to end the war with the U.S. and Israel.

International Business Times

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Could Santa Marta climate talks mark ground zero in push to ditch fossil fuels?

Colombia hosted nearly 60 countries at pivotal time on world stage for fight to transition to a clean energy future

The Guardian - UK

Sky-High Airfares Become 'New Normal' As Jet Fuel Crisis Reshapes Travel

Fuel prices are rising due to US-Iran tensions, affecting travel costs and airline operations. The UK government is monitoring the situation, while experts predict prolonged elevated costs.

International Business Times UK

Ukraine says a strike hit Tuapse oil terminal, the fourth attack on the region in 2 weeks

Ukrainian forces have struck an oil terminal in the Russian Black Sea city of Tuapse, according to Ukraine’s General Staff

The Independent UK

The Iran war has brought many old Gulf faultlines to the fore – and is creating new ones

The United Arab Emirates (UAE) announced on April 28 that it will leave the global oil producers’ cartel Opec. Its decision is the latest sign that the war in the Middle East has not only deepened animosities between Iran and its Gulf neighbours, but among the Gulf states too.

The Conversation

Current price of oil as of May 1, 2026

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

Fortune

Soybeans Posting Friday AM Strength

Soybeans are extending higher on Friday morning, with contracts up 3 to 4 cents. Futures bounced off early session lows on Thursday to close with contracts down ¼ to 1 ½ cents in old crop contracts and up 1 3/4 to 3 cents in the new crops. Open interest rose...

Barchart

What’s in the price of a gallon of gas?

The U.S. Energy Information Administration expects nationwide retail gasoline prices to average near US$4.30 a gallon for April 2026 – the highest monthly average of the year. The political response has been familiar. Georgia has suspended its state gas tax, other states are weighing their own tax holidays, and the…

The Conversation

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Euronews

The UAE’s OPEC exit signals strategic shift as Gulf unity faces new test over oil policy

The UAE's exit from OPEC signals a strategic shift, raising questions about Gulf coordination and the organisation's future.

The Independent UK

What are Trump’s options for Iran after ‘final blow’ briefing?

The United States is said to be weighing its options, with the conflict no closer to formally ending

Marie Claire

Alcohol-Free Fragrances Are Everywhere In 2026, From Body Mists to Solid Oils

Scent experts break down our current alcohol-free obsession.

Evening Standard

Fuel price rises caused by cost of oil rather than retail margins – watchdog

The Competition and Markets Authority said fuel margins have been ‘broadly unchanged’ since the start of the war in the Middle East.

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The Conversation

War in the Gulf and on US free speech

Brent crude oil surged to US$126 (£94) a barrel after US president Donald Trump announced that he was willing to prolong the blockade of Iranian ports for “months if needed”. This conflict has been billed as a matter of who can absorb the most pain. And Trump is betting on…

The Independent UK

‘Apocalyptic conditions’ after Ukrainian strikes on Russian oil refinery

IN FULL

Whats Hot

Commercial LPG Prices Surge for Third Month Amid Global Energy Spike

Commercial LPG cylinder prices have witnessed a sharp increase for the third month in a row, driven by rising global energy costs linked to ongoing tensions in West Asia and disruptions in key supply routes.

The Independent UK

Ukraine-Russia war latest: Putin’s forces launch daytime assault on Ukrainian city with hundreds of drones

Over 400 drones were launched at the country in broad daylight

The Guardian - UK

How LNG interests are seeking to disrupt global talks on decarbonising shipping

Observers say pressure on IMO negotiations appears to be linked to countries that have invested heavily in liquefied natural gas

The Guardian - UK

Germany’s climate U-turn is the worst possible response to the oil shock

Prices at the pump have leapt since the start of the conflict – but clinging to fossil fuels will only prolong the pain, says Berlin-based journalist Tania Roettger

The Independent UK

Asian shares gain with most markets closed for May Day, while oil holds steady at $111 a barrel

Shares are higher in Asia, though most markets in the region are closed for May Day holidays

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