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The Latest Breaking News from Oil

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 Conversation

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

The Guardian - AU

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.

AAP

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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 Conversation

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

The Guardian - AU

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...

Barchart

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.

AAP

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'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.

The Times of India

Stocks hit record high as investors bet on Iran war optimism

Whether Wall Street’s optimism for peace is justified, and if current stock valuations are sustainable, remains to be seen

The Independent UK

Geelong fire: blaze at one of Australia’s two oil refineries extinguished after 13 hours as fuel supply fears remain

Petrol production hit and full extent of damage unknown after ‘unprecedented’ fire at Viva plant in Corio

The Guardian - AU

Bowen says Geelong fire appears to be accidental; Keating lashes Liberals– as it happened

This blog is now closed

The Guardian - AU

US-Iran Peace Hopes Push the S&P 500 and Nasdaq 100 to Record Highs

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed up +0.80%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.40%. June E-mini S&P futures (ESM26 ) rose +0.79%, and June E-mini Nasdaq futures...

Barchart

S&P, Nasdaq Close at New All-Time Highs: Stock Market Today

Markets can see beyond the war in the Middle East and are no longer moving based on still-volatile crude oil prices.

Kiplinger

Major humiliation for Donald Trump as ships ignore his Hormuz blockade bluff and sail right through

Donald Trump’s high-stakes gamble to squeeze Iran by blockading the Strait of Hormuz just got a reality check. Within hours of the U.S. Navy’s supposed ironclad blockade taking effect, multiple ships — including some linked to Iran and even a Chinese tanker — sailed right through the waterway like it…

The Mary Sue

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Barchart

Possible US-Iran Ceasefire Extension Knocks Crude Prices Lower

May WTI crude oil (CLK26 ) on Wednesday closed down -0.05 (-0.05%), and May RBOB gasoline (RBK26 ) closed up +0.0297 (+0.98%). Crude oil and gasoline prices settled mixed on Wednesday, with crude falling to a 3-week low. Crude prices came under pressure on Wednesday after the AP reported that...

Clever Dude

5 Modern Grooming Hacks for the Busy Man

A sharp look doesn’t demand hours in front of a mirror. It demands strategy. The modern man moves fast, juggles responsibilities, and refuses to sacrifice style just because the clock feels unforgiving. Grooming now sits at the intersection of efficiency and impact, where small changes deliver major results without turning…

Barchart

Persistent Global Surpluses Sink Sugar Prices

May NY world sugar #11 (SBK26 ) on Wednesday closed down -0.37 (-2.67%), and May London ICE white sugar #5 (SWK26 ) closed down -4.70 (-1.11%). Sugar prices gave up an early advance on Wednesday and sold off sharply, with NY sugar sinking to a 5.5-year nearest-futures low. Sugar prices...

Euronews

Sweden foiled pro-Russian cyberattack on thermal power plant in 2025, minister says

Civil Defence Minister Carl-Oskar Bohlin said the aim of the operation was to disrupt the functioning of a facility that supplies heating.

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The Independent UK

How a US blockade on Iran has sanctioned ships turning around

The U.S. Navy is imposing a sea blockade against Iran — the latest escalation in the war that has seen the flow of key energy supplies choked off at the Strait of Hormuz

The Independent UK

Chevron executive has a blunt idea for Americans dealing with high gas prices: ‘People should drive less’

The oil executive also suggested turning off light switches

AAP

PM cuts short Asian fuel mission after refinery fire

Anthony Albanese will return to Australia early from overseas following a major blaze at one of the nation's two remaining fuel refineries.

Barchart

Cotton Rallying on Wednesday

Cotton is rallying on Wednesday with contracts up 90 to 125 points at midday. The US dollar index is $0.063 lower at $97.845. Crude oil is up 55 cents on the day. The Seam showed 5,245 bales sold on 4/14 at an average of 72.10 cents/lb. The Cotlook A Index...

Barchart

Soybeans Popping Back Higher on Wednesday

Soybeans are in rally mode, with contracts 10 to 12 cents higher so far. The cmdtyView national average Cash Bean price is up 11 cents at $10.91 1/4. Soymeal futures are $2.70 to $3.30 high on the day, with Soy Oil futures up 100 to 110 points. NOPA data from...

Barchart

Sugar Prices Sink on Expectations for the Global Sugar Surplus to Persist

May NY world sugar #11 (SBK26) today is down -0.29 (-2.09%), and May London ICE white sugar #5 (SWK26 ) is down -5.80 (-1.37%). Sugar prices gave up an early advance today and sold off, with NY sugar sinking to a 5.5-year nearest-futures low. Sugar prices have been under pressure...

MarketBeat

Why Oil Refiners Are the Real Winners of $100 Oil Prices

$100 oil is boosting refiners, not drillers. Discover why Valero, Marathon Petroleum, and Phillips 66 are benefiting from record crack spreads

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