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The Latest Breaking News from Oil

BP’s new boss to overhaul structure after retreat from green strategy

Meg O’Neill to return to upstream and downstream divisions after shift away from low carbon push

The Guardian - UK

Starmer and Macron to co-host Strait of Hormuz talks in Paris on Friday

The efforts are focused on safeguarding the vital oil and gas shipping route after the Iran war ends.

Evening Standard

Supermarkets ‘taking the mickey’ on olive oil prices, Filippo Berio boss says

The industry chief says stores have ‘taken the opportunity to expand their margins’

The Independent UK

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How much will Iran lose? The cost of Trump’s Hormuz blockade

Following failed talks, the US has imposed a blockade on Iranian ports in the Strait of Hormuz, potentially costing Iran $435 million daily in economic damage, primarily from lost oil and petrochemical exports. This move, aimed at pressuring Iran, could also impact China's energy imports and requires significant US naval…

The Times of India

HSBC says Iran war is hitting confidence as businesses warn over economic risks

Oil-driven inflation is big challenge to world economy, lifting inflation and depressing growth, says bank’s chair

The Guardian - UK

'The largest energy security threat in history' is about to push oil prices further up, IEA warns

No new energy shipments have been loaded in April, signalling a worsening disruption that could intensify the global energy and economic impact, IEA Executive Director Fatih Birol said on Monday.

Euronews

BP sees ‘exceptional’ oil trading result as Iran war sends crude costs soaring

Oil prices have surged higher since the US-Israel war on Iran started and are now more than 60% up so far this year.

The Independent UK

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Most of Wall Street points to high oil prices as the driver of inflation. A maverick Johns Hopkins economist says they’re chasing the wrong culprit

The oil crisis will end with the war; it’s the inflation predicament that has legs, predicts Steve Hanke of Johns Hopkins.

Fortune

Stock markets gain and oil falls on hopes of renewed US-Iran talks

European markets opened higher on Tuesday morning, tracking Asian and Wall Street gains, as oil prices fell on expectations that a possible second round of talks between the US and Iran would end the Iran war.

Euronews

UK growth forecasts slashed by IMF as Iran war hurts global economy – as it happened

International Monetary Fund has lowered its forecast for UK growth in 2026 and 2027, due to Iran war and weak growth in late 2025

The Guardian - UK

FTSE 100 Live 14 April: Index higher as oil stays near $100, Imperial falls

Stock markets have rallied amid renewed optimism over a Middle East peace deal.

Evening Standard

Asian stocks gain and oil falls on hopes of renewed US-Iran talks

Asian stocks are trading higher, tracking Wall Street gains and oil prices fall as expectations rise again over a second round of talks on an end to the Iran war, which is now in its seventh week

The Independent UK

Trump vows to hit Iran ships as US begins strait blockade

WASHINGTON : The US military said it would begin enforcing President Donald Trump-announced blockade of the Hormuz Strait at 10am EST on Monday (7.30pm IST), while clarifying that the embargo will only apply to vessels entering or departing Iranian ports and not other Gulf entrepôts. Iran responded by saying “no…

The Times of India

Iran-US war latest: Trump says war is close to over as US claims ‘maritime superiority’ in Middle East

JD Vance said Trump ‘wants to make the grand bargain’ with Iran after peace talks failed over the weekend

The Independent UK

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Homes & Gardens

Replacing Your Low Smoke Point Oil Is the Key to Perfectly Seasoned Cast Iron – Professional Chefs Reveal the Ideal Swap

It's a simple swap for uncomplicated cast-iron cooking

Euronews

Trump says US military blockaded Iranian ports to ramp up pressure on Tehran

The US blockade comes in an attempt to economically pressure Iran to reopen the Strait of Hormuz to maritime traffic after its six-week closure caused global oil prices to surge. Roughly 40 vessels have passed through since the start of the ceasefire, down from 100 or more per day before…

AAP

Qantas route cuts will hit hard for regional travellers

Australians in regional areas will bear the brunt of increased airfares and reduced services as Qantas cuts routes in response to increasing fuel prices.

The Guardian - AU

Qantas raises fares and cuts domestic flights as travel patterns shift due to Middle East turmoil

Australian airline is benefiting from demand for flights that transit through Asia – but says its jet fuel bill is rising sharply

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news in one place.

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The Conversation

Strait of Hormuz blockade: the complex regional realities the US ignores at its peril

After the breakdown of ceasefire talks between the United States and Iran, President Donald Trump has now ordered a blockade of the pivotal Strait of Hormuz in the Persian Gulf.

The Independent UK

Reeves to urge allies to co-operate amid economic turmoil from Iran War

Chancellor set to tout UK as ‘safe haven’ for investment amid meetings with major company bosses

Homes & Gardens

This ‘Heat Ring’ Mistake Is Ruining Your Cast Iron Sear – How to Stop Sticking and Burning in Seconds

Patience is the name of the game

Barchart

Cotton Rally Extends to Monday

Cotton extended the gains to Monday, with contracts up 64 to 131 points at the close. The US dollar index was $0.230 lower at $98.420. Crude oil was up just $1.42 on the day, coming well off the highs, following the breakdown of US/Iran negotiations this weekend. Pressure came later...

Barchart

Soybeans Pressured Lower on Monday

Soybeans closed Monday with losses of 5 to 13 ¾ cents easing lower into the close. The cmdtyView national average Cash Bean price was down 13 1/2 cents at $10.95 3/4. Soymeal futures were up a dime to $1.60 lower on the day, with Soy Oil futures down 58 to...

Barchart

Corn Slips Lower into the Close

Corn futures failed to hold onto the Monday gains, closing with contracts steady to 1 ¼ cents lower and 5-6 cents off the highs. The CmdtyView national average Cash Corn price was down 1/2 cent at $4.02 3/4. Crude oil was up just $1.42 on the day, coming well off...

Fortune

With the U.S. now blockading the Strait of Hormuz, the focus is on who has the ‘guts to go through first’

A coalition of U.S. allies is now working on a plan to safely secure the Strait of Hormuz.

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