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The Latest Breaking News from Oil

Viktor Orbán refuses to agree to €90bn loan for Ukraine as EU leaders accuse him of betrayal

German chancellor Friedrich Merz described Orbán’s U-turn on the loan Hungary had agreed to in December as ‘a gross act of disloyalty’

The Guardian - UK

Israel bombs South Pars: Why does this gas field matter so much to Iran — and the world?

Israel struck Iran's major South Pars gas field, a major energy source, following a US-Israel operation that killed Iran's leader. The attack, which the US denies prior knowledge of, escalates regional tensions and raises global concerns about energy supply disruptions. Iran has warned of retaliation against other Gulf energy sites.

The Times of India

The Latest: Trump threatens to strike world's largest gas field if Iran attacks Qatar again

U.S. President Donald Trump pledged the U.S. would “massively blow up the entirety” of the world’s largest gas field if Iran attacks Qatar again

The Independent UK

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US mulls troop deployment to 'secure' Strait of Hormuz; how much funding will Pentagon need to fun the war?

The United States is weighing a significant expansion of military operations in the Gulf as the war with Iran intensifies, with plans under discussion to secure the strategically vital Strait of Hormuz.

The Times of India

Pakistan cancels Republic Day parade as Middle East war triggers oil crisis, strains fuel supplies

Pakistan has cancelled its Republic Day parade on March 23 due to the Middle East crisis, which has triggered an oil crisis. The government cited austerity measures and the need to align with the nation's commitment to Pakistan Day ideals. This decision follows escalating tensions in the Gulf region and…

The Times of India

EU summit fails to rally Orban behind stalled Ukraine loan

EU leaders failed to persuade Hungary's Viktor Orban to lift his block on a massive loan to support Ukraine's war effort at summit talks on Thursday, leaving the much-needed funding in limbo.

Radio France Internationale

Asian shares skid as oil tops $111 a barrel and Wall Street slumps

Shares have retreated in Asia after a slump on Wall Street as oil prices shot over $110 a barrel

The Independent UK

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RBA frets over severe global shock from Middle East war

Spillover from the Iran war and an uptick in risky lending to first-home buyers could threaten Australia's financial stability, the Reserve Bank warns.

AAP

UAE slams Iran’s ‘terrorist attack’ as missiles target Abu Dhabi's Habshan gas facility, Bab oil field: Calls it ‘dangerous escalation’ amid war with US-Israel

Iran targeted the UAE's Habshan gas facility and Bab oil field. UAE air defence intercepted the threats. No casualties were reported. The UAE strongly condemned the attack, calling it a dangerous escalation. This incident highlights the growing vulnerability of critical energy infrastructure. Energy itself has become a battlefield in the…

The Times of India

Russian oil tanker heading to Cuba amid US economic blockade

Vessel with 730,000 barrels of crude set to reach Cuba on 23 March, according to maritime data, after Donald Trump said he expects to have ‘honour of taking’ country

The Guardian - AU

Soaring gas prices prompt Trump to ease oil tanker rules – how waiving the Jones Act affects what you pay at the pump

The Trump administration temporarily suspended the Jones Act on March 18, 2026, as part of its efforts to bring down soaring U.S. gasoline prices.

The Conversation

Aussie shares plunge, oil prices spike as war escalates

The Australian stock market has fallen to its lowest level since November, with heavy losses for goldminers as the yellow metal fell to $US4,850.

AAP

First lease sale in Alaska petroleum reserve in years draws strong interest despite pending lawsuits

The first oil and gas lease sale held in years in the National Petroleum Reserve-Alaska has been touted by officials as the strongest to date

The Independent UK

Reform UK Scotland to launch ‘unashamedly ambitious’ Holyrood manifesto

The party’s plan is to reintroduce North Sea oil and gas as Scotland’s primary energy source.

Evening Standard

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The Guardian - AU

Australia is too dependent on fuel imports – what could be done about it?

The government has a roadmap to electrify transport and support alternative fuels by 2050, but the war in Iran and soaring prices means a plan is needed in weeks, not decades

Barchart

Cotton Slips Lower on Wednesday

Cotton futures crept lower into the Wednesday close, as contracts were down 1 to 18 points on the session. Crude oil was back up $3.61 to $99.82, with the US dollar index up $0.725 to $100.055. The Seam showed sales on 15,400 bales on 3/17, averaging 64.28 cents/lb. The Cotlook...

Latin Times

Ruben Gallego Wants Energy Department To Elaborate On Its Oil Reserve Release Plan

Last week, the DOE announced a plan to release 172 million barrels of oil as part of a broader planned release of 400 million barrels from various member governments of the International Energy Agency.

The Times of India

About 90 ships crossed Strait of Hormuz despite war, finds report

HONG KONG: About 90 ships including oil tankers have crossed the Strait of Hormuz since the outset of the war with Iran and it is still exporting millions of barrels of oil at a time when the waterway has been effectively closed, according to maritime and trade data platforms. Many…

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We Got This Covered

Hyundai owners might want to check their oil after this viral mechanic video

Prevention is better than cure.

Barchart

The Highest-Rated Healthcare Stock to Buy Now to Hedge Against Oil Price Shocks

Amid oil-driven volatility, investors lean on resilient sectors, with Boston Scientific Corporation now standing out as a steady defensive healthcare play.

The Independent UK

‘Extensive damage’ to Qatar refinery after Iran revenge strikes

IN FULL

Barchart

Stocks Sharply Lower on Iran War and Hawkish Powell

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -1.36%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.63%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.43%. March E-mini S&P futures (ESH26 ) fell -1.42%, and March E-mini Nasdaq futures...

Fortune

It's almost inexplicable why oil prices aren't much higher. But here's why markets are ‘resilient’ so far despite the biggest energy supply shock ever

Crude oil prices have surged more than 70% this year, but there's the potential to go much higher to new records.

The Mary Sue

China’s icy silence on Trump’s Strait of Hormuz plea exposes a terrifying truth about his global standing

China has remained completely silent on President Donald Trump’s recent request for help reopening the Strait of Hormuz, which has been largely closed due to the ongoing conflict with Iran. This lack of response comes as the president has been actively seeking international military support to secure the vital waterway.

Radio France Internationale

Congo's Sasso Nguesso re-elected president in tightly controlled vote

The Republic of Congo’s President Denis Sassou N’Guesso has been re-elected with nearly 95 percent of the vote, according to provincial results, extending his nearly 42-year rule over the Central African oil-rich country.

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