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The Latest Breaking News from Oil

The Iran war's economic blowback is getting real

As oil prices surge, recession odds nearly doubled this month.

Axios

Ministers eye new energy support as Iran war sends prices soaring

Derek Lickorish, chairman of electricity and gas firm Utilita, has warned ‘we just don't know’ how high gas prices will go

Evening Standard

Hegseth warns ‘this is only the beginning’ of war with Iran and there will be more US casualties

Defense Secretary Pete Hegseth insists ‘we’re very much on track’ and says prospect of further American deaths ‘stiffens our spine and our resolve to say this is a fight we will finish’

The Independent UK

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Heating oil price shock as costs double for nearly two million Brits

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The Independent UK

What is happening with oil prices and what it means for your money

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The Independent UK

Starmer promises to protect Brits from Iran war’s economic impact as oil prices surge

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The Independent UK

FTSE 100 tumbles as Rachel Reeves to hold emergency meeting over oil prices

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The Independent UK

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Watch: Hungary's elections, Ukraine's loan — as the April deadline nears, tensions boil over

Last week, tension reached a breaking point when Hungarian anti-terror police raided a Ukrainian state bank convoy carrying cash and gold. In response, Kyiv accused Budapest of taking its citizens hostage. But hold on, how did we get here?

Euronews

European markets dip as oil prices soar and European gas prices jump

Leading European stock market indexes started the week with a big sell-off, following a major drop across Asian markets and surging oil prices, as the Middle East crisis escalates further.

Euronews

FTSE 100 plummets further as oil prices soar above $100 a barrel

Oil prices surged past $100 a barrel for the first time since the summer of 2022

The Independent UK

1.7m UK homes facing soaring bills as heating oil costs doubled in a week amid Iran conflict

Heating oil’s more volatile pricing is fed straight through to consumers, a key difference to gas and electricity energy supplies

The Independent UK

Lengthy US-Iran war would affect ‘lives and households of everybody’, says Starmer

Ministers understood to be considering ways to mitigate rising energy bills as oil prices surpass $100 a barrel

The Guardian - UK

Oil prices: What it means for your money as Brent crude surges again after Iraq tanker attacks

Energy bills rising is an inflationary pressure the UK’s economy could do without

The Independent UK

Starmer warns of bigger impact on economy the longer Iran war continues - as it happened

The prime minister is facing pressure from unions and some backbenchers to prepare a support package as oil and gas prices threaten to push up inflation

The Guardian - UK

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Evening Standard

Stock markets tumble further as oil prices soar above 100 dollars a barrel

Brent crude soared by 15% to 107 dollars a barrel, having at one stage reached nearly 120 dollars in levels not seen since the summer of 2022.

Whats Hot

Bahrain Declares Force Majeure on Oil Shipments After Iranian Strike Triggers Refinery Fire

Bahrain’s state-owned oil company Bahrain Petroleum Company (Bapco) on Monday declared force majeure on its oil shipments after a strike blamed on Iran ignited a fire at a major oil facility, intensifying tensions across the Gulf’s critical energy corridor.

The Times of India

Did Israel surprise US with strikes on Iran oil depots? White House reportedly sent 'WTF' message

The White House expressed surprise and disapproval after Israel struck Iranian oil facilities, a move not anticipated by the Trump administration. Officials feared the attacks could rally Iranians, boost oil prices, and negatively impact global energy markets. While Israel stated the depots supplied the regime, Washington conveyed strong disagreement, with…

The Independent UK

Trump gives a four-word response as oil prices sky rocket

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Euronews

‘We are being tested’, Eurogroup president says as oil rises above $100

In an interview with Euronews' flagship show Europe Today, the president of the Eurogroup, Kyriakos Pierrakakis, stated that the EU is being tested and ministers are quite concerned about the events unfolding as oil currently sits above $100 and the Iran war continues to disrupt energy markets.

The Independent UK

Oil prices latest: Reeves ready to support release of reserves and issues inflation warning over US-Iran war

Price of oil has surged since US and Israel launched airstrikes towards Iran 10 days ago

Whats Hot

India Urges Dialogue as Middle East Conflict Escalates; Jaishankar Raises Oil Supply Concerns

India has called for restraint and diplomatic engagement amid the rapidly escalating conflict in West Asia, with External Affairs Minister S. Jaishankar stressing that dialogue remains the only path to de-escalation.

Evening Standard

Oil prices race above 100 dollars a barrel as Iran conflict escalates

Brent crude soared by 17% to more than 108 dollars a barrel, having at one stage reached nearly 120 dollars a barrel for the first time since 2022.

Evening Standard

Starmer acknowledges concerns as Iran war threatens to impact cost of living

Sir Keir Starmer said: ‘No matter the headwinds, supporting working people and their families with the cost of living is always top of my mind.’

The Guardian - UK

G7 ready to take ‘necessary measures’ over economic impact of Iran war

Finance ministers monitoring situation but stop short of agreeing to release emergency oil reserves

Whats Hot

Stock Market Opens in Deep Red as Middle East Conflict Escalates; Nifty Falls Below 24,000

Indian stock markets started the week on a sharply negative note as escalating tensions in the Middle East triggered widespread selling across global markets.

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