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The Latest Breaking News from Oil

Higher energy prices might eat your tax refund, economists say

New calculations from the Stanford Institute for Economic Policy Research suggest higher tax refunds will be offset by higher prices for crude oil and refined oil products.

Axios

The UK’s high electricity prices are here to stay. But could they offer an opportunity?

Four years after Russia’s invasion of Ukraine, the world is bracing for another energy crisis. The US-Israel bombing of Iran and then the blockade of the strait of Hormuz have forced up the price of oil. The price of natural gas in Europe has also risen sharply.

The Conversation

Crude Oil Jumps as Iran Said it Will Target Middle Eastern Oil Infrastructure

April WTI crude oil (CLJ26 ) today is up +2.83 (+2.94%), and April RBOB gasoline (RBJ26 ) is up +0.0907 (+2.90%). Crude oil and gasoline prices recovered from early losses and are sharply higher, with gasoline soaring to a 3.5-year high. Escalation of the Iran war is pushing energy prices...

Barchart

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Global Economy at Tipping Point as Iran War Oil Surge Sparks Financial Crisis Fears

Economists warn the Iran war oil surge could slow US growth and drive inflation, with ripple effects across food, energy and global markets. Fears of a wider economic crisis are growing.

International Business Times UK

What is the Jones Act? Trump issues 60-day waiver of century-old law amid Iran war

The law, passed in 1920, aims to protect the American shipping sector

The Independent UK

Oil prices hit nearly $110 as Iran vows to escalate the war in ‘new ways’

Israel attacked the world’s largest natural gas field in a coordinated attack with the U.S.

Fortune

Oil surges to $110 a barrel after Israel strikes Iran's energy facilities

Brent crude oil prices surged to $110 a barrel after Israel attacked the largest gas plant and another oil facility in Iran. The Islamic Revolutionary Guard Corps of Iran (IRGC) reacted by announcing that some Gulf energy sites are "legitimate targets".

Euronews

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Stocks Pressured by Inflation Concerns and Iran War Jitters

The S&P 500 Index ($SPX ) (SPY ) today is down -0.55%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.82%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.50%. March E-mini S&P futures (ESH26 ) are down -0.48%, and March E-mini Nasdaq futures...

Barchart

What to know about the Jones Act as the Trump administration unveils a 60-day waiver

As the U.S. and Israel’s war against Iran continues to upend energy markets and supply chains worldwide, the Trump administration says it will temporarily waive maritime shipping requirements under a more than century-old law known as the Jones Act

The Independent UK

The U.S. attacked Iran to show its power but the war is already lost. Epic Fury looks like an Epic Fail

Even if Iran is militarily defeated, the U.S. political objectives are unlikely to be achieved — and Washington will stumble out of this war.

Fortune

Verdict postponed in climate change damage case between TotalEnergies and farmer

A Belgian court on Wednesday adjourned a case pitting French oil giant TotalEnergies against a farmer seeking compensation for damage to his land caused by climate change while another hearing involving the company takes place in Paris.

Radio France Internationale

Trump waives US shipping law for oil and gas in bid to lower prices

Move comes as president attempts to mitigate rising price of oil while carrying out war on Iran

The Guardian - US

Choke on Strait of Hormuz hurts many nations, US is not one of them - in fact, it profits

President Donald Trump's recent appeal to Asian allies to help secure the Strait of Hormuz amid escalating tensions in the war against Iran, bluntly brought to focus their outsized reliance: "Countries that receive oil through the Strait of Hormuz must take care of that passage — China, Japan, South Korea…

The Times of India

Dollar Climbs on Hot US PPI and Iran War Escalation

The dollar index (DXY00 ) today is up by +0.30%. The dollar recovered from early losses today and turned higher after US Feb producer prices rose more than expected, a hawkish factor for Fed policy. Also, signs of escalation in the Iran war knocked stocks lower and boosted liquidity demand...

Barchart

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Axios

Trump waives shipping law as gasoline prices soar

Trump issued a 60-day waiver of the Jones Act, the White House confirmed.

Evening Standard

Tories set to force vote on scrapping fuel duty increase

Oil and gas prices have been driven up as Iran has throttled key shipping routes through the Strait of Hormuz.

International Business Times UK

Trump Administration Eliminated Energy Experts Who Model Oil Market Shocks Ahead Of Iran Strikes — Elevates Risk Of Price Surges

Cuts to US energy offices under the Trump administration are under scrutiny as Iran war strikes rattle oil markets and complicate efforts to manage the global energy crisis.

Barchart

Stocks Fall as US PPI Jumps and Iran War Escalates

The S&P 500 Index ($SPX ) (SPY ) today is down -0.24%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.34%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.21%. March E-mini S&P futures (ESH26 ) are down -0.30%, and March E-mini Nasdaq futures...

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The Independent UK

US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

The Treasury Department is easing sanctions on Venezuela’s state oil company, with some limits

Euronews

Dire straits: The handful of marine choke points holding Europe's economy hostage

From the Persian Gulf to the English Channel, a small number of narrow waterways carry the vast bulk of what Europeans eat, buy, and heat their homes with. When one of them is threatened the consequences ripple everywhere.

Fortune

The Iran war and high gas prices are getting Americans excited about EVs again

As the war in Iran sends gas prices surging, the world's growing electric vehicle fleet is providing a buffer. In America, it may finally be enough to win over reluctant buyers.

The Independent UK

Trump can’t get his spelling ‘Straight’ in post bashing US allies over Hormuz refusal

President lately has been fixated on whether it is ‘Straits’ or ‘Strait’ of Hormuz but either way, his Truth post botched the execution

The Independent UK

Japan's leader heads to Washington for a visit complicated by the Iran war fallout

Japanese Prime Minister Sanae Takaichi is heading to the United States for what she expects to be a “very difficult” meeting with U.S. President Donald Trump

Fortune

Current price of oil as of March 18, 2026

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

Euronews

China treads carefully on Iran war as it balances energy security and neutrality

The Iran war is disrupting global energy flows and increasing the risk of wider regional escalation, leaving major economies such as China walking a tightrope.

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