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The Latest Breaking News from Oil

Starmer and Trump Discuss Strait of Hormuz Amid Iran Blockade – Could UK Be Drawn Into Middle East Crisis?

Starmer and Trump hold urgent talks to reopen the Strait of Hormuz amid Middle East strikes, raising concerns over UK involvement in a US-Iran conflict

International Business Times UK

Strike in Iraq reportedly kills seven fighters – as it happened

This blog is closed

The Guardian - AU

ASX tumbles to lowest level since May as war drags on

Australia's mining sector is under renewed pressure, after gold tumbled to a two-month low as oil prices skyrocket and hammer hopes for global growth.

AAP

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After Trump's warning, Iran threatens to close the Strait of Hormuz

Iran has threatened to completely shut the Strait of Hormuz if the US strikes its energy facilities, warning that regional energy infrastructure hosting US bases would become targets. This escalation follows President Trump's ultimatum. The conflict has already impacted global oil prices and caused significant damage and displacement on both…

The Times of India

Trump's Transport Secretary Urges Americans to Trust a 'Long-Term Strategy' Amid Gas Crisis

As petrol prices soar following the recent Middle East conflict, Transportation Secretary Sean Duffy urges citizens to grant the president grace during this transitional economic period.

International Business Times UK

'Naive' Trump May Have Missed to Consider Iran Conflict Could Cause 'Immense Oil Crisis', ex-CIA Director Says

The global energy market faces a potential collapse as tensions between the US and Iran escalate. Former CIA Director Leon Panetta criticizes Trump's approach.

International Business Times UK

Oil prices volatile after Trump's Strait of Hormuz threat

It suggests traders don't see a near-term end to the war or risks to oil transit in a key strait that's throttling supplies.

Axios

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As Trump eyes climactic battle for Hormuz, he could give Iran a 'taste of their own medicine' with a naval blockade that implodes the economy

"That might open up the Strait of Hormuz a lot faster than anything else."

Fortune

Natural gas prices in Texas plunge deep into negative territory and producers are burning it off, while the rest of the world braces for shortages

Over the past week, spot prices at the Waha gas trading hub in the Permian Basin fell as low as -$9.75 per million British thermal units.

Fortune

Iran War, Oil Volatility and Other Key Things to Watch This Week

Markets enter an important week dominated by extraordinary uncertainty around the Iran war trajectory following President Trump's late Friday Truth Social post suggesting he is considering "winding down" military operations.

Barchart

This ‘Alpha Male’ Stock Is Profiting as the Strait of Hormuz Remains Closed. Should You Buy It Now?

Frontline stock is gaining attention as tanker rates surge amid geopolitical disruption, creating a powerful but potentially cyclical opportunity.

Barchart

Will Trump's 48-hour ultimatum to Iran leave him red-faced again?

As a 48-hour deadline looms, Iran has retaliated against President Trump's threat to "obliterate" its power plants. Tehran warns that energy facilities in countries hosting US bases are now "lawful targets." The escalating conflict, now in its fourth week, has already seen cross-border attacks and rising casualties, with oil prices…

The Times of India

Iran vows to destroy Middle East water and energy facilities if US attacks power plants

Tehran’s response to Trump’s threat signals a potentially dangerous escalation as both sides menace sites relied on by millions

The Guardian - UK

As Labor faces pressure to respond boldly to oil shock, it needs to find more unconventional levers to pull

Leveraging Australian gas exports to ensure we get oil in return is among the offbeat ideas we could be hearing more about

The Guardian - AU

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We Got This Covered

Trump is now letting Iran sell its stranded oil, because nothing says “maximum pressure” like handing the enemy a paycheck in the middle of a war

Whatever Obama did, Trump is doing it worse and calling it victory.

The Guardian - UK

Starmer adviser urges ministers to look at profits cap for energy and petrol firms

PM’s ‘cost of living champion’ calls for consideration of temporary measure to prevent profiteering from Iran war

Ideal Home

This ProBreeze heater finally changed my opinion of oil-filled radiators – turns out they are not the old-fashioned relics I once thought they were

It turns out they are not the old-fashioned relics I once thought they were

The Guardian - UK

Energy shock talk grabs headlines but the Iran war is also driving the world towards a food crisis

Growers face soaring fertiliser and fuel costs as shipping choke point of the strait of Hormuz hits supply chains

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Grocery Coupon Guide

8 Grocery Items Quietly Rising in Price This Spring

Spring brings a shift in the supermarket. The weather gets warmer, and consumer habits change. Shoppers look for fresh produce and grilling supplies. While some spring vegetables get cheaper, other staple items are creeping up in price. Global supply chain issues and weather patterns drive these costs higher. Shoppers need…

The Times of India

Strait of Hormuz choked by war: Shipping plunges 95%, 20,000 seafarers stranded — All you need to know

Iran declared the Strait of Hormuz open to all except its "enemies," the US and Israel, following a 48-hour ultimatum from President Trump. The crucial waterway, vital for global oil, has seen a 95% drop in traffic due to escalating Middle East conflict, with thousands stranded and shipping costs soaring.

The Guardian - US

‘Nobody else is responsible’: Trump to blame for Iran crisis, ex-CIA chief says

Leon Panetta calls president ‘naive’ over strait of Hormuz closure and says ‘the chickens are coming home to roost’

International Business Times

Iran Says Hormuz Open To All but 'Enemy' Ships After Trump Ultimatum

The announcement comes amid escalating tensions over the strategic chokepoint, through which roughly 20 per cent of the world's crude oil and liquefied natural gas normally flows.

International Business Times

US–Israel–Iran War Enters Fourth Week as Strikes Intensify and Oil Route Tensions Surge

Launched on February 28 with joint US-Israeli Operation Epic Fury, the campaign initially targeted Iranian nuclear sites, missile infrastructure and leadership, resulting in the death of Supreme Leader Ali Khamenei and dozens of senior officials.

Fortune

'Almost exactly offsetting the boost': Higher gasoline prices this year could wipe out tax refunds from Trump's One Big Beautiful Bill Act

Prices at the pump are almost a dollar more per gallon than a month ago following the U.S. strike on Iran and are poised to tick up even higher as the Strait of Hormuz remains closed.

The Times of India

After Trump’s 48-hour ultimatum, Iran says ships can pass Hormuz Strait — except ‘enemy’ vessels

Iran on Sunday said the Strait of Hormuz remains open to all shipping except that of its “enemies” - a reference to the United States and Israel—amid a 48-hour "ultimatum" from US President Donald Trump to "fully open" the crucial waterway, which carries about 20% of the global crude oil…

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