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The Latest Breaking News from Oil

Oil set for record monthly gain – as it happened

This blog is closed – our live coverage continues on a new blog here

The Guardian - AU

Australian shares sink as oil hits $US116 a barrel

The Australian share market has fallen 0.7 per cent after oil prices hit a nearly four-year high and Houthi militants entered the Middle East war.

AAP

'US could take the oil in Iran': Trump signals seizure of Kharg Island export hub

His remarks come at a time when the US-Israel war with Iran has pushed the region deeper into crisis and driven a sharp surge in global oil prices. Brent crude climbed above $116 per barrel on Monday in Asian trading, nearing its highest level since the conflict began. Trump said:…

The Times of India

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Ukraine war briefing: German defence giant sparks row after comparing Ukraine drone makers to ‘housewives’

Rheinmetall CEO’s dismissive comments draw pointed reaction from Ukrainian prime minister and adviser to Volodymyr Zelenskyy. What we know on day 1,496

The Guardian - AU

China’s ‘teapot’ oil refineries keep economy brewing – but surging crude prices leave them strained

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins

The Guardian - UK

Britons turn to solar power to ‘insulate’ against oil and gas chaos, says E.On

The electricity supplier said solar sales were up by 62% this month, compared with the previous month.

Evening Standard

Swinney to push for powers over energy if SNP wins election

The First Minister will visit the north-east of Scotland on Monday.

The Independent UK

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The renewable energy source homeowners are turning to as oil and gas prices soar

Solar panel sales were up by 62% this month, according to E.On

The Independent UK

E.On claims war in Middle East has created huge increase in solar panel sales

Prices of crude oil and natural gas have rocketed in recent weeks

The Independent UK

Oil prices rise as Iran war escalates with Houthi attacks

The increase came as the war moved into its fifth week, showing little sign of abating.

Axios

Dow futures fall 300 points as Wall Street braces for potential U.S. ground assault on Iran and Houthi attacks that could slash oil supplies further

The 31st Marine Expeditionary Unit has arrived in the Middle East.

Fortune

Starmer to meet energy and finances bosses in bid to stop household bills spiralling

PM to hear directly from business leaders as war in the Middle East threatens economic instability

The Independent UK

Rachel Reeves to tell G7 accelerating shift to clean energy is best defence against energy price shocks

Starmer to convene major energy industry and insurance figures to draw up emergency plans amid continued blockade of strait of Hormuz

The Guardian - UK

Starmer to meet business leaders amid Hormuz blockade

The Prime Minister is expected to meet senior representatives from the energy, shipping and financial services industries.

Evening Standard

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The Conversation

War could add an extra 5% to prices in Australia – but there’s one sector that shields the economy

A drawn-out war in the Middle East could add an extra 5% to existing inflation in Australia, our new modelling shows.

The Independent UK

Egypt’s early closing order jolts Cairo’s night life as war-driven oil costs soar

Egypt is imposing early closing times for shops, cafes and restaurants to cut oil use as energy prices surge during the war

Bored Panda

Texas Oil Heir Charles Brooks Jr. Ordered to Pay $1.1B After Toddler Left Permanently Disabled

A Texas jury sent a $1.1 billion message of accountability after an oil heir, Charles Brooks Jr.'s domestic manslaughter left a toddler with permanent disabilities.

The Times of India

Kharg of the US brigade: Pentagon lines up troops to capture Iranian island that accounts for 90 per cent of its oil exports

The TOI correspondent from Washington: What began as a “little excursion” into Iran – as described by President Trump –- is now edging toward a full-scale invasion of the country, with U.S officials signaling the start of a broader military campaign, including the potential seizure of Kharg Island—Tehran’s most critical…

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Fortune

Russia was expecting a windfall from soaring oil prices, but relentless Ukrainian drone attacks are devastating nearly half its export capacity

Ukraine launched a series of drone attacks on Russia’s top export hubs, including Novorossiysk on the Black Sea as well as Primorsk and Ust-Luga on the Baltic Sea.

Barchart

Iran, Oil Prices and Other Key Things to Watch this Week

Markets enter a huge week as the final days of March bring an explosive convergence of catalysts including Friday's jobs report, Q1 vehicle production and delivery numbers from Tesla (TSLA), Rivian (RIVN), and major Chinese EV makers, and escalating Iran war concerns as President Trump's 10-day warning window approaches.

The Times of India

Texas oil tycoon ordered to pay $1.1 billion after thrashing 2-year-old stepson, leaving him wheelchair-bound for life

A Texas oil heir has been ordered to pay a historic $1.1 billion to the young child he brutally beat, leaving him with severe injuries that require 24-hour care.

Homes & Gardens

Check Spring Buds for Aphids Now – Getting Rid of Them As Soon As Possible Will Save Your Plants

These destructive critters are waking up and on the hunt for soft, fresh growth

TechRadar

'A career can be just as strong in these fields of plumbing and electricians': Blackrock boss says getting an AI job shouldn't be the end goal for everyone

Larry Fink urges society to value skilled trades as AI reshapes jobs, warns that energy costs and oil risks threaten economies.

International Business Times UK

Trump Cuts Off Gas Price Discussion to Ask When Venezuela Will Build a Statue of Him During Cabinet Meeting

President Donald Trump interrupted a Cabinet briefing on rising fuel costs to ask when Venezuela would build a statue of him, drawing laughter at the meeting and criticism online for shifting attention away from the economic discussion.

Barchart

Occidental Petroleum Stock May Be at a Peak - Time to Sell OXY Covered Calls?

Occidental Petroleum stock closed up 1.5% on Friday and has risen 23% since the end of February. Even if it's not a peak, it might make sense to sell OXY covered calls, given its high out-of-the-money call premiums.

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