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The Latest Breaking News from Oil

Higher for Longer: Why Energy Secretary Chris Wright Is Predicting Gasoline Prices Will Stay Above $3 Until 2027

U.S. Secretary of Energy Chris Wright believes gas prices may have peaked but will likely still stay above pre-war levels for a while.

Barchart

Study finds toxic benzene emissions along the Texas Gulf Coast are among the highest in the nation

Researchers found that state policy and oil refineries’ failure to fix leaks contributed more to high benzene emissions than the size or capacity of the refineries.

The Texas Tribune

Sugar Prices Push Higher on Strength in Crude Oil and the Brazilian Real

May NY world sugar #11 (SBK26 ) today is up +0.04 (+0.29%), and Aug London ICE white sugar #5 (SWQ26 ) is up +3.80 (+0.90%). Sugar prices are climbing today, with London sugar posting a 2-week high. Strength in crude oil prices (CLM26 ) is supportive of sugar today, with...

Barchart

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China Holds Largest Oil Stockpiles As Prolonged Iran War Raises Fears Of Global Supply Shock: Report

China's aggressive oil stockpiling surge ahead of the Iran war is reshaping global energy security dynamics as supply risks intensify in the Strait of Hormuz.

International Business Times

The US keeps talking about gas prices — but it’s diesel costs that could impact your life the most

Since the start of the war in Iran on February 28, the average price of a gallon of diesel has gone up by around 45 percent

The Independent UK

Crude Oil Prices Underpinned as Iran War Tightens Global Oil Supplies

June WTI crude oil (CLM26 ) today is up +0.44 (+0.47%), and June RBOB gasoline (RBM26 ) is up +0.0093 (+0.29%). Crude oil and gasoline prices are moving higher today, with gasoline climbing to a 3.75-year high. Energy prices remain underpinned as the Strait of Hormuz remains essentially closed, threatening...

Barchart

EU formally approves €90bn Ukraine loan and 20th sanctions package against Russia

Ursula von der Leyen hails ‘good news’ after Hungary’s lifting of vetoes allows leaders to sign off on agreements

The Guardian - UK

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Oil’s New Security Premium: Trading Geopolitical Chaos for Institutional Panic

Don't expect a peace deal to sink the barrel. The global realization of energy vulnerability has triggered a massive shift toward hoarding, ensuring that millions of barrels will flow into strategic vaults rather than the open market, effectively canceling the return to cheap energy.

Barchart

Stock Indexes Recover on Strength in Chipmakers

The S&P 500 Index ($SPX ) (SPY ) today is up +0.07%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.05%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.03%. June E-mini S&P futures (ESM26 ) are up +0.07%, and June E-mini Nasdaq futures...

Barchart

‘The biggest energy security threat in history’: IEA chief warns 13 million barrels a day are gone with no cure in sight

IEA chief Fatih Birol says the world is losing 13 million barrels of oil a day, more than the two 1970s oil crises combined.

Fortune

BP board suffers triple climate rebellion from shareholders

More than 50% of voters at first AGM under new leadership oppose plans to scrap climate reporting

The Guardian - UK

Middle East Tensions Support the Dollar

The dollar index (DXY00 ) today climbed to a 1.5-week high and is up by +0.04%. The dollar remains supported amid persistent tensions in the Middle East, which is boosting safe-haven demand for the dollar. Also, rising crude oil prices are pushing up inflation expectations, a hawkish factor for Fed...

Barchart

Stocks Pressured as Peace Talks with Iran Remain in Limbo

The S&P 500 Index ($SPX ) (SPY ) today is down -0.07%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.36%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.03%. June E-mini S&P futures (ESM26 ) are down -0.08%, and June E-mini Nasdaq futures...

Barchart

US and Iran continue seizing ships in tense Hormuz standoff

The US and Iran continued seizing ships in the tense Hormuz standoff, with Tehran calling Washington's blockade a “ceasefire violation” and claiming it has been collecting transit fees for passage.

Euronews

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International Business Times UK

Donald Trump Issues 'Shoot and Kill' Order to U.S. Navy as Strait of Hormuz Conflict Escalates

Donald Trump has told the US navy to 'shoot and kill' any Iranian boats laying mines in the Strait of Hormuz, hardening a blockade that is already roiling global energy markets and testing maritime law.

Latin Times

Trial Reveals Former Florida Lawmaker Advised Venezuelan Businessman to Mislead Herald About Meeting With Vice President Pence

David Rivera has been accused by the DOJ of not registering as a foreign agent after securing a $50 million contract in 2017 with the Venezuelan national oil company

The Independent UK

Drug prices rise by up to 30 per cent due to Iran war, pharmacists warn

Painkillers and hay fever medications are seeing price hikes for customers due to a surge in oil prices

The Times of India

'Deadlock over': EU unlocks $105bn loan for Ukraine, slaps new sanctions on Russia

In a landmark decision, the European Union has greenlit an impressive €90 billion loan to Ukraine alongside a new wave of sanctions targeting Russia, effectively breaking a prolonged deadlock. This vital financial support, designated for military and fiscal stability, follows Hungary and Slovakia's recent agreement to resume oil flows through…

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International Business Times

Iran's Economy Buckles As Currency Slides And Oil Risks Escalate Amid Conflict

Mounting geopolitical tensions are amplifying Iran's economic instability, with ripple effects expected across global energy markets.

Fortune

Current price of oil as of April 23, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Fortune

The Iran War just made the clean energy transition non-negotiable

I've spent 20 years making the economic case for clean energy. Hormuz just made the geopolitical case — at the cost of many lives and $126-a-barrel oil.

The Conversation

Why Sweden’s ban on fossil fuel production matters, despite not producing any itself – new research

In 2022, Sweden took a rare step: the country banned all fossil fuel production.

The Independent UK

US still delivering weapons to Ukraine, Zelenskyy says, as Prince Harry visits Kyiv

Ukrainian President Volodymyr Zelenskyy says U.S. weapon deliveries to Ukraine haven't stopped despite the Iran war

The Independent UK

The Latest: Israel and Lebanon to meet in Washington while Iran-US talks are in limbo

Israel and Lebanon are meeting in Washington Thursday in the hope of extending a fragile 10-day ceasefire that began last week

Euronews

EU agrees fresh sanctions on Russia but leaves maritime services ban on hold

Due to Greece and Malta's concerns, the full ban on maritime services will be left on hold pending an agreement at the G7 level. The US, however, is going in the opposite direction by providing sanctions relief to Russia.

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