The Latest Breaking News from Oil

Based on the closing price of Brent crude on Friday, a 10% jump would send the global oil benchmark to nearly $85 per barrel.

Move could cause a global recession and comes in response to the US strikes on three Iranian nuclear sites

Will Russia stand up for its ally Iran after US struck three Iranian nuclear facilities? What is stronger: the desire to make money on expensive oil and divert the world's attention from Moscow’s war on Ukraine or the fear of losing the ties and contracts built up over the years…

Record-low unemployment and ultra-hot inflation have put Russia “on the brink” of a recession, its economy minister said.

As the Israel-Iran conflict escalates further, there is a mounting fear that natural gas fields are going to be targeted — as well as oil shipping routes. Europe’s liquefied natural gas supply would be seriously impacted, along with its economies.

It could be days or weeks before the full impact of the U.S. strikes on Iran's nuclear sites is known

“They can strike U.S. embassies and bases, attack oil facilities in the Persian Gulf, mine the Strait of Hormuz, or rain missiles on Israel—but the regime may not survive the blowback.”

BILLIONS of pounds are set to flow out of Scotland due to foreign investment figures celebrated by the Scottish Government ...

Monthly inflation data and state budget updates are set to dominate the economic agenda and shape the Reserve Bank's next cash rate call.

As part of evidence presented during his sex trafficking trial, it has emerged Sean ‘Diddy’ Combs kept his astonishing collection of baby oil and lubricant in a humidity-controlled case.

An influential traditional chief in Nigeria's oil-rich Niger Delta has demanded that UK energy giant Shell pay $12 billion for environmental pollution before it leaves the region.