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The Latest Breaking News from Oil

Australia won't send troops to answer Trump's oil rant

Australia has ruled out sending troops to the Middle East amid Donald Trump's remarks for nations to "get their own" oil from the Strait of Hormuz.

AAP

Shares surge on hopes of US Iran exit but risks remain

Hopes of de-escalation in the Middle East war have reinvigorated investor sentiment and boosted markets, but details from the US administration have been scant.

AAP

Fuel relief may not be enough to help stressed budgets

Two of Australia's biggest banks have recorded noticeable rises in the value of fuel transactions, with one also seeing evidence of potential stockpiling.

AAP

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Trump news at a glance: president lashes out at European allies as war on Iran frays relations

Trump taunts allies to ‘go get your own oil’ as some nations dig in heels to oppose conflict and global destabilization

The Guardian - US

Environmental groups accuse Mexico of lying about origins of oil spill in the Gulf

Environmentalist groups say Mexico’s government lied about the origins of a massive oil spill in the Gulf of Mexico, accusations authorities promptly denied

The Independent UK

Businesses start to add fuel surcharges to deliver products as oil price increases from Iran war hit home

Oil prices have soared both domestically and abroad, causing a headache at the pump and problems for the agriculture and food industries

The Independent UK

Trump's 'God Squad' Exempt Gulf Drillers From Endangered Species Act

The federal Endangered Species Committee, better known as the "God Squad," voted to exempt offshore drilling from parts of the Endangered Species Act, which critics say could push Rice's whale to extinction.

International Business Times

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Soybeans Rally on Tuesday with Lower Acres Expected

Soybeans posted 5 to 13 ½ cent gains across most contracts on Tuesday, led by the new crop months. The cmdtyView national average Cash Bean price was up 8 ¼ cents at $10.95. Soymeal futures were up $1.10 to $2.50, with Soy Oil futures 14 to 41 points higher. NASS...

Barchart

Cotton Faces Weakness as Acres Exceed Expectations

Cotton futures saw weakness later on Tuesday, with contracts down 19 to 29 points following more than expected acres. The US dollar index was $0.658 lower at $99.695. Crude oil futures were down $1.13 to $101.75 on the day. March Prospective Plantings data from this morning showed cotton acres seen...

Barchart

Controlling the Strait of Hormuz is the top priority in Iran and Trump may abandon it. Here’s what that would look like

Ceding control of the Strait of Hormuz would represent a U.S. defeat worse than Vietnam, one critic said.

Fortune

Australia has weathered fuel crises before. What can we learn from previous oil price spikes?

After the second world war, cheap oil was a foundation of global economic stability. That changed dramatically in 1973

The Guardian - AU

Embattled former BP CEO takes over Wyoming hyperscaler as first woman leader of Big Oil giant becomes new BP chief

The former BP chief is entering the AI age with American data center projects.

Fortune

Wall Street just had its best day in nearly a year over a rumor

The Nasdaq recovered half its drawdown over the past year in a single day.

Fortune

European Commission Warns Citizens to Prepare For Energy Crisis Because of Iran War

EU Energy Commissioner Dan Jørgensen encouraged EU citizens to work from home where possible, reduce highway speed limits by ten kilometers, encourage public transport, and alternate private car access.

International Business Times

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The Independent UK

The war in Iran has shaken up financial markets. See the impact of the conflict, in five charts

After meandering for a couple of months, financial markets endured numerous frenzied swings during March as the war in Iran raged

The Independent UK

JetBlue raises its checked bag fees by as much as $9 as the Iran war affects fuel costs

U.S. carrier JetBlue has raised its checked bag fees by as much as $9 as the war in the Middle East disrupts global oil supplies

Barchart

Stocks Surge on Signs the US and Iran Seek to End War

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed up +2.91%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +2.49%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +3.43%. June E-mini S&P futures (ESM26 ) rose +2.88%, and June E-mini Nasdaq futures...

Kiplinger

Crude Oil Retreat Lifts Dow 1,124 Points: Stock Market Today

Whether the worst is behind us or there's still more to come in the Middle East, the stock market reaffirmed its resilience during the first quarter of 2026.

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The Guardian - AU

Morning Mail: draft Labor national platform revealed, Trump tells allies ‘get your own oil’, and where house prices are falling

Labor has omitted its longstanding opposition to mandatory jail terms in its draft national party platform.

MarketBeat

Carnival Stock Forecast: Headwinds Now, Upside Ahead?

Carnival stock fell after earnings despite strong bookings and a double beat, as rising fuel costs and cautious guidance weighed on the near-term outlook

Barchart

Crude Oil Prices Retreat on Hopes the Iran War is Near an End

May WTI crude oil (CLK26 ) on Tuesday closed down -1.50 (-1.46%), and May RBOB gasoline (RBK26 ) closed down -0.0559 (-1.71%). Crude oil and gasoline prices gave up an early advance on Tuesday and settled sharply lower on hopes that the war in Iran is near an end. Crude...

The Independent UK

Trump has called on the ‘God Squad’ to help override endangered animal protections and allow more oil drilling

The exemption could harm ‘dozens of imperiled species,’ including whales and sea turtles, wildlife activists have warned

The Independent UK

Haiti imposes austerity measures as Iran war drives up oil prices and disrupts supplies

Haiti’s government says it is implementing new austerity measures as the war in Iran disrupts critical oil supplies and drives up prices worldwide

AAP

Fuel support considered for diesel-dependent Pacific

Foreign Minister Penny Wong says Australia is looking at measures to help Pacific nations deal with the fuel supply crisis sparked by the Middle East war.

The Independent UK

Oil and gas prices won't immediately return to normal even if the Iran war ends, the EU warns

The European Union's energy commissioner says skyrocketing oil and gas prices in Europe as a result of the ongoing Iran war won’t return to normal levels any time soon, even if peace is declared tomorrow

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