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The Latest Breaking News from Oil

Crude Prices Strengthen as Global Oil Supplies Tighten with Strait of Hormuz Closed

June WTI crude oil (CLM26 ) today is up +3.13 (+3.25%), and June RBOB gasoline (RBM26 ) is up +0.0241 (+0.72%). Crude oil and gasoline prices are sharply higher for a second day today, with crude oil posting a 2-week high, and gasoline posting a 3.75-year high. Crude prices continue...

Barchart

Singing activists disrupt NatWest meeting over ‘climate backtracking’

AGM briefly adjourned after protesters wearing T-shirts labelled ‘No more big oil’ burst into song

The Guardian - UK

AI Fears and Surging Crude Oil Prices Weigh on Stocks

The S&P 500 Index ($SPX ) (SPY ) today is down -0.66%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.03%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.30%. June E-mini S&P futures (ESM26 ) are down -0.63%, and June E-mini Nasdaq futures...

Barchart

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Blow for Reeves as government borrowing costs jump to highest since global financial crisis

10-year gilt yields are highest since the global financial crisis

The Independent UK

Dollar Gains on Weak Stocks and Soaring Crude Prices

The dollar index (DXY00 ) today is up by +0.23%. Today's stock slump is boosting liquidity demand for the dollar. Also, higher crude oil prices today increased inflation expectations, a hawkish factor for Fed policy, and a positive factor for the dollar. The dollar maintained its gains after the Conference...

Barchart

UAE leaves OPEC to pursue "accelerated" production

The departure will make it tougher for OPEC to control output and prices.

Axios

Stocks Pressured by AI Fears and Soaring Crude Oil Prices

The S&P 500 Index ($SPX ) (SPY ) today is down -0.38%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.25%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.78%. June E-mini S&P futures (ESM26 ) are down -0.44%, and June E-mini Nasdaq futures...

Barchart

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UAE to leave Opec group of oil producers after six decades amid ‘volatility’ from Middle East energy shock

UAE’s withdrawal will leave the oil group with 11 member countries, including Saudi Arabia, Iran, and Iraq

The Independent UK

UAE to leave Opec group of oil producers amid Middle East energy shock

The UAE joined Opec in 1967, and its departure will leave the oil cartel with 11 member countries including Saudi Arabia, Iran and Iraq.

Evening Standard

OPEC shocker as UAE leaves oil cartel days after negotiating swap lines with Scott Bessent’s Treasury

The petrodollar saga is taking another twist. The long, slow unraveling of the architecture that has governed global finance since 1974 continues.

Fortune

Changing Consumer Tastes Are Likely Permanently Changing Orange Juice, Cotton Futures Prices

Orange juice prices are poised to close out April at their lowest level in four years as consumers continue to pivot away from the higher-sugar drink.

Barchart

Iran war will trigger largest energy price surge since 2022, World Bank warns

The World Bank’s latest Commodity Markets Outlook report predicts a 24% surge in energy prices this year as the Iran war delivers a historic shock to global supply chains.

Euronews

How the Iran war boosted profits at BP and Barclays

Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

Euronews

Taxing the Rich

Plus: New York City's persistent budget problems, the crony capitalist scramble for Venezuelan oil, senseless trafficking PSAs, and more...

Reason

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Fortune

Current price of oil as of April 28, 2026

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

International Business Times

Iran Has Less Than a Month Of Oil Storage As U.S. Blockade Of Its Ports Continue: Report

Iran has less than a month of oil storage as the U.S. continues to block its ports during the war, an intelligence firm said.

Barchart

Cotton Extending Rally on Monday

Cotton price action is up 39 to 50 points early on Monday. Futures closed the Monday session with contracts 22 to 55 points in the green. The US dollar index was slipping 0.039 lower at $98.325. Crude oil was back up $2.28 to $96.68. NASS Crop Progress data showed 16%...

Axios

Iran may have oil options to drag things out

The country "may not be in imminent danger of a major crude oil shut-in," one analyst says.

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The Independent UK

How a facility turning plastic into jet fuel could solve the UK’s next oil crisis

As airlines and travellers feel the effect of global jet fuel shortages, scientists in Kent may have figured out a sustainable solution to the crisis

The Times of India

Iran oil tankers turned back by US blockade

US naval actions have significantly disrupted oil traffic through the Strait of Hormuz, forcing six tankers carrying millions of barrels of Iranian oil back to Iran. While some vessels are being diverted, others have managed to pass, highlighting the ongoing impact of the conflict on global oil exports and the…

The Guardian - UK

Middle East crisis could cost world $1tn while oil firms make ‘obscene’ profit, analysis finds

Climate group calls for urgent windfall tax on excess fossil fuel profits, as delegates tell Colombia conference their nations are suffering

Latin Times

Soaring Jet Fuel Prices Push Delta Airlines to Cut Mexico Routes, Raise Fees

Delta Executive Vice President and Chief Commercial Officer Joe Esposito said the plan is to reduce the financial drag from rising oil prices, with reductions beginning in the first quarter and likely extending into the summer.

International Business Times UK

'Gold Is Money': Billionaire Ray Dalio Urges Investors To Put 5–15% Into Gold As Iran War Threatens 20% of Global Oil Supply

Ray Dalio advises investors to allocate 5-15% of portfolios to gold amid the Iran conflict, citing its reliability as a store of value during geopolitical and financial instability.

PC Gamer

How to complete Battening Down in Arc Raiders

Find the leaking oil pipe, photograph the seawall, and sample the shoreline for Apollo.

The Independent UK

Ukraine says it shot down record 33,000 Russian drones last month

The military has also established a new command within the air force to bolster the nation’s capabilities

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