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The Latest Breaking News from Oil

Midnight Oil frontman leads 'great Australian mission'

Musician, activist and former politician Peter Garrett is hoping to usher in the next generation of Australians to care for the land as he begins a new role.

AAP

‘Return of the pirates’: Iran accuses US of ‘armed robbery on high seas’ after oil tanker seizures

Iranian official Esmaeil Baqaei on Tuesday accused the United States of effectively legitimising piracy after it seized two vessels allegedly carrying Iranian oil in the Indian Ocean.

The Times of India

ASX extends losses as Gulf worries buoy oil prices

Investor sentiment remains under pressure after weeks of earnings downgrades and the Middle East energy crisis weighing on hopes of future economic growth.

AAP

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First global meeting of climate ‘coalition of the willing’ focuses on the one big problem holding back action

A lack of financing is emerging as a major barrier to moving away from fossil fuels, officials and experts said at a global conference in Colombia

The Independent UK

Soybeans Start the Week with a Double Digit Rally

Soybeans were up 10 to 13 1/2 cents across the 2026 contracts on Monday, with deferreds up 5 to 9 ½ cents. The cmdtyView national average Cash Bean price was up 13 3/4 cents at $11.16 3/4. Soymeal futures were up $1.50 to $9.50 across the board, with Soy Oil...

Barchart

Cotton Posts Monday Strength

Cotton futures closed the Monday session with contracts 22 to 55 points in the green. The US dollar index was slipping 0.039 lower at $98.325. Crude oil was back up $2.28 to $96.68. NASS Crop Progress data showed 16% of the US cotton crop planted as of April 26, which...

Barchart

Baker Hughes CFO Warns Strait of Hormuz May Not Fully Reopen Until Late 2026

Baker Hughes CFO Ahmed Moghal told investors on the company's first-quarter earnings call that Baker Hughes' financial guidance assumes the conflict continues through the end of June.

International Business Times

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Tech Earnings Optimism Powers Stocks Higher

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.12%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.13%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.01%. June E-mini S&P futures (ESM26 ) rose +0.14%, and June E-mini Nasdaq futures...

Barchart

Is oil king again? China’s surging cleantech exports show the opposite is true

Over the last two months, nations have scrambled to shore up oil supplies as the Iran war prevented oil tankers moving through the Strait of Hormuz.

The Conversation

Dollar Slips on Hopes for US-Iran Peace Talks to Resume

The dollar index (DXY00 ) on Monday fell by -0.05%. The dollar fell from a 2.5-week high on Monday and finished lower after Axios reported that Iran has offered a new proposal to reopen the Strait of Hormuz. The dollar initially moved higher in overnight trade after President Trump canceled...

Barchart

‘Who’s really scamming me?’: Man gets two different service recommendations from two Toyota dealerships on the same car in 24 hours

One follow-up exposed the cracks.

We Got This Covered

Strait of Hormuz Closure Limits Energy Supplies and Supports Crude Oil Prices

June WTI crude oil (CLM26 ) on Monday closed up +1.97 (+2.09%), and June RBOB gasoline (RBM26 ) closed up +0.0372 (+1.12%). Crude oil and gasoline prices settled sharply higher on Monday, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US...

Barchart

As the U.S. Spends Billions Fighting Iran, War-Driven Inflation Hits Working Families Hard

The rising cost of gas and higher utility rates are hurting farmers, ride-sharing workers and consumers from coast to coast.

Capital & Main

Iran to Reopen the Strait of Hormuz? Reports Say Tehran Offered to End Chokehold if US Lifts Blockade and Ends the War

Iran proposes to reopen the Strait of Hormuz if the US lifts its blockade and ends the war. Learn more about this geopolitical shift and its impact on global oil trade.

International Business Times UK

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The Independent UK

Starmer warns Iran war could put holidays and food shopping habits under threat

Sir Keir Starmer told Britons not to panic over the economic impact of the Iran war

International Business Times

Venezuela Reactivates Idle Oil Rigs As Industry Overhaul Draws Global Energy Players Back

Oilfield service companies operating in Venezuela are redeploying equipment as the interim government pushes ahead with a broad industry overhaul.

Barchart

Cotton Holding onto Monday Gains

Cotton futures are trading with contracts 22 to 56 points higher across the front months. The US dollar index is slipping 0.084 lower at $98.280. Crude oil is back up $2.24 to $96.65. Spec traders were busy increasing their fresh bullish bet in cotton futures and options in the week...

Barchart

Soybeans in Rally Mode on Monday

Soybeans are up 11 to 15 cents across most contracts on Monday. The cmdtyView national average Cash Bean price is up 15 cents at $11.17 1/4. Soymeal futures are up $9.50 to $9.70 in the front months, with Soy Oil futures up 20 to 24 points. USDA’s FGIS tallied soybean...

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Euronews

Caspian and Central Asian oil markets recalibrate amid trade shifts

The oil sector in the South Caucasus and Central Asia is shifting towards more flexible trading strategies as volatile markets and Asia-led demand reshape global energy flows.

The Independent UK

California's fight over pipeline tests state's right to push back against Washington during war

California continues to fight the Trump administration after it defied state officials to restart oil drilling off the Santa Barbara coast in the name of national security

Evening Standard

Blue chips falter as oil price moves ever higher

The FTSE 100 closed down 57.99 points at 10,321.09.

Homes & Gardens

This Forgotten Victorian Trick Makes Your Home Smell Incredible – And It Only Requires 2 Ingredients

They're impressively fragrant, non-toxic, and take a minute to make

The Conversation

As Arctic waters open up, Canada must prepare for oil spills

Canada’s Arctic is opening faster than protection efforts are keeping pace. As sea ice declines, shipping is expanding across Arctic and sub-Arctic waters.

Barchart

Crude Oil Prices Rally on Stalled US-Iran Peace Talks

June WTI crude oil (CLM26 ) today is up +2.68 (+2.84%), and June RBOB gasoline (RBM26 ) is up +0.0602 (+1.81%). Crude oil and gasoline prices are sharply higher today, with gasoline posting a 3.75-year high. Crude prices continue to climb as stalled peace talks between the US and Iran...

Euronews

Strait of Hormuz standoff leaves 20,000 seafarers stranded on cargo ships

Thousands of seafarers are stranded as the Iran war shuts down much of the Strait of Hormuz, disrupting global oil and gas trade and raising safety fears.

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