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The Latest Breaking News from Oil

New route? How are Iran-linked ships passing through Strait of Hormuz despite US blockade

Amidst a US naval blockade, Iran-linked vessels navigated the Strait of Hormuz, signalling potential route shifts. Traffic remains significantly reduced, with heightened checks by both US and Iranian forces slowing crossings. Conflicting claims emerge regarding successful breaches, as electronic interference and disabled tracking systems obscure full visibility in this critical…

The Times of India

Gas Prices May Not Hit $3 Until September, Treasury Chief Bessent Warns He's 'Watching' Gas Stations

Treasury Secretary Scott Bessent says $3 gas could arrive between June and September, warning the Trump administration plans to monitor gas stations. Stay updated on energy costs and petrol prices.

International Business Times UK

Oil prices may be falling, but for the wrong reason: ‘Demand destruction’ throttling global consumption, report finds

The International Energy Agency said oil demand is projected to contract by 80,000 barrels per day in 2026.

Fortune

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Why no nation is truly ‘energy independent’ while the Strait of Hormuz remains closed

The U.S. blockade is working, but a potential global recession still looms.

Fortune

Bulletin AM briefing: UK economy grew better-than-expected before Iran war

UK economy beat expectations and showed surprise growth. Oil prices fall yet again amid hopes for new US-Iran peace talks. MPs voted against Australia-style social media ban for the second time. Leading evangelical figure says Trump did not intend Jesus AI photo. Rare asteroid expected to pass Earth closer than…

The Independent UK

Is Your Essential Oil Diffuser Ruining Your Sleep? Feng Shui Pros Say Your Placement Could Be Wrong

The key is enforcing a six-foot distance so the movement of the water doesn't disturb your energy, and lets you sink into a deep sleep

Homes & Gardens

Major oil refinery fire likely to impact Australia’s fuel supplies

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The Independent UK

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Thursday briefing: What it will take for Britain to break up with natural gas

In today’s newsletter: The economic fortunes of the UK are intertwined with the price of the costly fuel – so why are we so slow to ditch it?

The Guardian - UK

Oil prices fall again amid hopes for new US-Iran peace talks

IN FULL

The Independent UK

Gunfire reported in Beirut as truce comes into effect – as it happened

This blog is now closed

The Guardian - AU

Iran war sparks EU proposal to reduce tax on electricity and encourage green transition

Electricity is taxed far higher than fossil fuels. Could a new EU proposal finally reverse this?

Euronews

Top 10 currencies in 2026 include Hungarian forint: Why they’re beating the US dollar

A war in the Gulf, a Federal Reserve frozen in place and a hawkish turn across Europe and the Pacific: how ten currencies are pulling away from a weakening US dollar.

Euronews

What does the Geelong refinery fire reveal about Australia’s fuel supplies?

Late on Wednesday, Victorian firefighters were called to a large fire at Viva Energy Group’s oil refinery in Corio, a suburb of Geelong. The blaze is believed to have been an equipment failure. Thankfully, no-one was injured.

The Conversation

Oil prices drop below $95 and Asian stocks hit record highs as Iran peace deal hopes grow

Brent ‌crude opens 0.4 per cent lower at $94.55 a barrel after reports Iran could consider allowing ships to sail freely through the Omani side of Strait of Hormuz

The Independent UK

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The Independent UK

‘Unprecedented’ fire at Australian oil refinery threatens already dwindling petrol supplies

Supplying around half of Victoria’s fuel and 10 per cent nationally, the refinery processes about 120,000 barrels of oil per day

The Independent UK

Asian stocks mostly higher after Wall Street hits record and oil steadies

Asian stocks are mostly higher and oil prices have steadied over expectations of an extension of a ceasefire in the Iran war and more talks between the U.S. and Iran

The Conversation

When oil refineries burn, here’s what happens to your lungs and heart

The fire at a major oil refinery in the Victorian city of Geelong has now reportedly been extinguished. But with thick smoke from the blaze lingering in the air on Thursday, many residents in Geelong and surrounding areas will understandably be worried.

The Guardian - AU

Albanese cuts fuel diplomacy mission short to rush to Geelong as Bowen calls oil refinery fire ‘a setback’

Some petrol stations may see short-term outages and energy experts warn Victorian fuel prices could spike up to 20 cents a litre

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news in one place.

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AAP

Aussie hits four-year high as banks, miners drag shares

The Australian dollar is trading at multi-year highs as signs of de-escalation support the global growth outlook, but the optimism has not extended to shares.

The Conversation

Iran has a powerful new tool in the Strait of Hormuz that it can leverage long after the war

The Trump administration claims its blockade of the Strait of Hormuz is working, with nine ships complying with orders to turn around.

The Guardian - AU

Geelong oil refinery fire: what we know so far

Viva Energy oil refinery at Corio, one of just two remaining in Australia, supplies about 50% of Victoria’s fuel and 10% of the whole country’s

Tom’s Guide

Spraying this DIY bed bug repellent on your mattress could prevent an infestation — and it's only $6

Get ahead of bed bug season with this simple spray you can use on your mattress and pillows. Bonus — it's good for your sleep as well.

Barchart

Soybeans Post Strength on Wednesday

Soybeans were in rally mode on the midweek session, with contracts 9 to 11 cents higher at the close. The cmdtyView national average Cash Bean price was up 11 cents at $11.01 3/4. Soymeal futures were $1.10 to $4.70 higher on the day, with Soy Oil futures up steady to...

AAP

Fresh fuel supply fears hosed down after refinery blaze

Australia will lean more heavily on fuel imports after a fire caused by a suspected gas leak ripped through one of the nation's two oil refineries.

The Times of India

'Blaze not yet under control': Fire breaks out at Viva Energy's Geelong refinery in Australia

A major fire erupted early Thursday at Viva Energy Group’s Geelong refinery in southern Australia, one of the country’s two remaining oil refineries that supplies about 10 per cent of its fuel.

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