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The Latest Breaking News from Oil

Stagflation risk: Chalmers heeds budget warning

Treasurer Jim Chalmers is being urged to reform the tax and migration settings in the upcoming budget as the oil shock worsens Australia's productivity funk.

AAP

Asian stocks rally as Trump says US will leave Iran war in ‘two to three weeks’

Trump says Iran ‘begging to make a deal’ but whether an agreement is reached is ‘irrelevant’ to America's timetable

The Independent UK

Will UAE enter Iran war? Abu Dhabi pushes US, allies to reopen Strait of Hormuz by force

The UAE is reportedly considering military intervention against Iran, a significant shift from its previous neutral stance. Repeated Iranian attacks and the disruption of the vital Strait of Hormuz have pushed Abu Dhabi to explore options, including supporting US-led efforts to reopen the oil route. This move carries substantial risks…

The Times of India

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Should you book holiday flights now considering jet fuel price spikes?

Jet fuel prices have more than doubled in recent weeks amid the ongoing Iran war. Airlines have responded with fare increases and temporary surcharges, so should you secure tickets now or wait?

Euronews

Donald Trump Says US Will 'Leave Very Soon' and Officials Admit Strait of Hormuz Reopening Isn't Guaranteed

US President Trump says US forces may leave Iran soon, while officials warn reopening the Strait of Hormuz is not guaranteed

International Business Times UK

4 spring recipes for when you don’t know what to cook

Spring produce is back, but inspiration isn’t always guaranteed. From herby prawns and wild garlic pasta to asparagus worth building a meal around and softly spiced hot cross buns, these are the recipes to turn to when you’re not sure what to cook

The Independent UK

Iran-US war latest: Oil prices spike after Trump vows to keep hitting Iran ‘extremely hard’ in address to nation

The president said US forces would 'finish the job' in Iran and that 'core strategic objectives are nearing completion’

The Independent UK

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Australia won't send troops to answer Trump's oil rant

Australia has ruled out sending troops to the Middle East amid Donald Trump's remarks for nations to "get their own" oil from the Strait of Hormuz.

AAP

Shares surge on hopes of US Iran exit but risks remain

Hopes of de-escalation in the Middle East war have reinvigorated investor sentiment and boosted markets, but details from the US administration have been scant.

AAP

Fuel relief may not be enough to help stressed budgets

Two of Australia's biggest banks have recorded noticeable rises in the value of fuel transactions, with one also seeing evidence of potential stockpiling.

AAP

Trump news at a glance: president lashes out at European allies as war on Iran frays relations

Trump taunts allies to ‘go get your own oil’ as some nations dig in heels to oppose conflict and global destabilization

The Guardian - US

Environmental groups accuse Mexico of lying about origins of oil spill in the Gulf

Environmentalist groups say Mexico’s government lied about the origins of a massive oil spill in the Gulf of Mexico, accusations authorities promptly denied

The Independent UK

Businesses start to add fuel surcharges to deliver products as oil price increases from Iran war hit home

Oil prices have soared both domestically and abroad, causing a headache at the pump and problems for the agriculture and food industries

The Independent UK

Trump's 'God Squad' Exempt Gulf Drillers From Endangered Species Act

The federal Endangered Species Committee, better known as the "God Squad," voted to exempt offshore drilling from parts of the Endangered Species Act, which critics say could push Rice's whale to extinction.

International Business Times

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Barchart

Cotton Faces Weakness as Acres Exceed Expectations

Cotton futures saw weakness later on Tuesday, with contracts down 19 to 29 points following more than expected acres. The US dollar index was $0.658 lower at $99.695. Crude oil futures were down $1.13 to $101.75 on the day. March Prospective Plantings data from this morning showed cotton acres seen...

Barchart

Soybeans Rally on Tuesday with Lower Acres Expected

Soybeans posted 5 to 13 ½ cent gains across most contracts on Tuesday, led by the new crop months. The cmdtyView national average Cash Bean price was up 8 ¼ cents at $10.95. Soymeal futures were up $1.10 to $2.50, with Soy Oil futures 14 to 41 points higher. NASS...

Fortune

Controlling the Strait of Hormuz is the top priority in Iran and Trump may abandon it. Here’s what that would look like

Ceding control of the Strait of Hormuz would represent a U.S. defeat worse than Vietnam, one critic said.

The Guardian - AU

Australia has weathered fuel crises before. What can we learn from previous oil price spikes?

After the second world war, cheap oil was a foundation of global economic stability. That changed dramatically in 1973

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news in one place.

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Fortune

Embattled former BP CEO takes over Wyoming hyperscaler as first woman leader of Big Oil giant becomes new BP chief

The former BP chief is entering the AI age with American data center projects.

Fortune

Wall Street just had its best day in nearly a year over a rumor

The Nasdaq recovered half its drawdown over the past year in a single day.

International Business Times

European Commission Warns Citizens to Prepare For Energy Crisis Because of Iran War

EU Energy Commissioner Dan Jørgensen encouraged EU citizens to work from home where possible, reduce highway speed limits by ten kilometers, encourage public transport, and alternate private car access.

The Independent UK

The war in Iran has shaken up financial markets. See the impact of the conflict, in five charts

After meandering for a couple of months, financial markets endured numerous frenzied swings during March as the war in Iran raged

The Independent UK

JetBlue raises its checked bag fees by as much as $9 as the Iran war affects fuel costs

U.S. carrier JetBlue has raised its checked bag fees by as much as $9 as the war in the Middle East disrupts global oil supplies

Barchart

Stocks Surge on Signs the US and Iran Seek to End War

The S&P 500 Index ($SPX ) (SPY ) on Tuesday closed up +2.91%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +2.49%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +3.43%. June E-mini S&P futures (ESM26 ) rose +2.88%, and June E-mini Nasdaq futures...

Kiplinger

Crude Oil Retreat Lifts Dow 1,124 Points: Stock Market Today

Whether the worst is behind us or there's still more to come in the Middle East, the stock market reaffirmed its resilience during the first quarter of 2026.

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