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The Latest Breaking News from Oil

Zelenskyy says EU unblocking of €90bn loan for Ukraine is ‘the right signal’ as Hungary drops opposition – as it happened

European Union formal procedures expected to conclude on Thursday as Druzhba pipeline reopens

The Guardian - UK

UK inflation rises in March as prices at the pump spike higher after Iran war

Inflation in the U.K. climbed in March, driven by a sharp rise in fuel prices following the Iran war

The Independent UK

Reckitt cautions over impact of Iran war on costs and consumer demand

The household goods giant firm said if oil prices remain at 110 US dollars a barrel throughout 2026, costs could rise by up to £150 million.

Evening Standard

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Middle East war ‘could wipe out 75% of chancellor’s budget headroom’; UK inflation climbs to 3.3% – as it happened

Oil prices rise again above $100 a barrel as strait of Hormuz remains closed; EU energy commissioner warns energy crisis could last months or years even if there is peace

The Guardian - UK

Ukrainian drone attack on Russian oil facility sparks huge fire

IN FULL

The Independent UK

Ukraine-Russia war latest: Missiles fired by Moscow at Chernobyl nuclear plant risk ‘major accident’, Kyiv warns

92 drones and 35 hypersonic missiles came within 5 to 20 kilometres radius of Chernobyl nuclear facility, Kyiv says

The Independent UK

Asian benchmarks are mixed in cautious trading amid uncertainty about US-Iran ceasefire talks

Asian shares are mixed in cautious trading as investors watch for next steps in the U.S.-Iran conflict

The Independent UK

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Oil prices hold near $100 as Trump extends Iran ceasefire but keeps blockade in place

Traffic in Strait of Hormuz at standstill as US president says blockade of Iranian ports and shores will continue

The Independent UK

Foreign companies are making billions off Australia’s gas. It’s time that changed

Is Australia giving away its gas resources, virtually for free?

The Conversation

Asian shares are mixed and oil prices little changed as investors watch for US-Iran talks

Shares are mixed in Asia and oil prices are little changed as markets watch for the latest developments in the war with Iran

The Independent UK

Iran-US war latest: Tehran calls opening Strait of Hormuz ‘impossible’ as US navy chief steps down

US blockade of Iran’s ports choking economy, White House says, as President Trump suggests peace talks could restart

The Independent UK

The everyday items facing price rises amid Iran war oil shock: From toys to pens and shaving cream

The tremors of the Middle East war are reaching the far corners of the economy

The Independent UK

Erdogan says Iran war ‘starting to weaken Europe’ – as it happened

This blog is now closed

The Guardian - AU

Japan records 5th straight fiscal year of trade deficits as Trump's tariffs hit auto exports

Japan has reported a trade deficit of $10.7 billion for the fiscal year that ended in March, as U.S. President Donald Trump’s tariff policies hit auto exports

The Independent UK

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AAP

Greenpeace claims win, as court dismisses Woodside case

Greenpeace has declared victory against Woodside, despite a court dismissing its legal case against the oil and gas company about its emissions claims.

The Guardian - AU

Ukraine war briefing: Quick loan in pipeline as Druzhba reopens

Russian oil can flow again, says Ukrainian president, leaving ‘no grounds’ for blocking €90bn EU package; warning of all-out Kremlin cyberwar. What we know on day 1,519

Axios

Scoop: Trump mulls Jones Act waiver extension to lessen Iran War oil shock

Move is aimed at cutting costs of moving the product across the country during the Iran war.

Barchart

Cotton Rally Extends to Tuesday

Cotton futures posted 66 to 114 point gains across the board on Tuesday. The US dollar index was 0.278 higher at $98.185. Crude oil was up another $2.19 to $91.80 NASS Crop Progress data showed 11% of the US cotton crop planted as of April 19, which was 1 percentage...

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Barchart

Soybeans Follow Bean Oil Rally on Tuesday

Soybeans were in rally mode on Tuesday, with bean oil continuing to pull the market higher, up 6 ¾ to 9 1/4 cents on the beans. The cmdtyView national average Cash Bean price was up 9 1/4 cents at $11.11 3/4. Soymeal futures were down $2.10 to 20 cents higher...

The Independent UK

Trump’s approval rating on economy drops amid inflation and Iran conflict

Even within his own party, confidence in his leadership appears to be waning

International Business Times

China's Molten Salt 'Energy Fortress' Built For Oil Shortages Like The One The World Is Experiencing: Report

China's Jinta molten salt energy tower stands as an "energy fortress" designed to help the country absorb the oil shock caused by the tensions surrounding the Strait of Hormuz.

Barchart

Stocks Fall as Iran Refuses to Attend Peace Talks

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed down -0.63%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.59%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.42%. June E-mini S&P futures (ESM26 ) fell -0.62%, and June E-mini Nasdaq futures...

The Conversation

The end of oil? As fuel shocks cascade, 53 nations gather to plan a fossil fuel phaseout

US President Donald Trump is a longtime climate denier and oil industry ally, who sums up his own energy policy as “drill, baby, drill”. Yet he is doing more than almost anyone to speed up the global shift from fossil fuels to clean energy and electric vehicles (EVs).

Clever Dude

10 Reasons Your Gas Tank Is Emptying Faster Than It Should (And Costing You Money)

Gas prices refuse to stay predictable, and nothing stings more than watching the fuel gauge drop faster than expected. A tank that should last all week suddenly struggles to make it a few days, quietly draining money with every mile. Many drivers blame rising fuel costs, but the real issue…

Fortune

Halliburton CEO: U.S. oil rebound enters ‘early innings’ as Iran war triggers long-lasting global push for energy outside the Middle East

The smaller U.S. producers are the first movers bringing new oil wells online.

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