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The Latest Breaking News from Oil

EU leaders blast Viktor Orbán over a Ukraine loan veto, accusing him of playing election games

EU leaders are accusing Hungary’s Viktor Orbán of blocking major aid to Ukraine to score points at home ahead of elections next month

The Independent UK

Stocks Slip Before the Open as Oil Prices Advance, U.S. Economic Data and FedEx Earnings on Tap

March S&P 500 E-Mini futures (ESH26) are down -0.18%, and March Nasdaq 100 E-Mini futures (NQH26) are down -0.27% this morning as oil prices continued to rise amid escalating fighting in the Middle East.

Barchart

We can tell you who will really get rich from this oil crisis – and how we can stop them

Soaring oil costs signal the great transfer of wealth away from households, but also a new opportunity to redistribute it, say economists Isabella Weber and Gregor Semieniuk

The Guardian - UK

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Fed Keeps Rates Steady as Powell Warns Iran Oil Shock Could Boost Inflation in 2026

The Fed's decision to hold rates steady amid rising Iran oil prices impacts the economy. Explore the 2026 inflation forecast, FOMC divisions, and the effects of prolonged high borrowing costs on households.

International Business Times UK

Gas prices soar as Shell plant damaged in attack on Qatar energy site

British energy giant Shell said the attack caused damage to a facility that is important to the firm.

Evening Standard

British military experts sent to US to plan reopening of Strait of Hormuz

Officers there to compile options for accessing route amid fears of mines and Iranian attacks

The Independent UK

Oil and gas prices jump after Iran and Israel attack gasfields

State-run QatarEnergy says Iranian attack on its facilities has wiped out 17% of its LNG capacity for up to five years

The Guardian - UK

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Pete Hegseth blasts 'ungrateful' Europe as Trump's Iran war sparks economic chaos

US defense secretary condemns 'ungrateful' European allies for refusing to play their part in the conflict

Evening Standard

EU scrambles to contain energy costs from war in Middle East

European Union leaders are meeting to tackle soaring oil and gas prices driven by the war in the Middle East

The Independent UK

Gas prices surge more than 20% after Iran targets Qatar production

Wholesale gas prices surged this morning after strikes on Qatar’s main production facility.

Evening Standard

Brent crude oil briefly crosses $119 after Iran hit largest Qatari energy site

Brent crude oil traded briefly above $119 a barrel after Iran struck Qatar’s largest energy site, the Ras Laffan gas field. The attack was in response to Israeli strikes against the Iranian South Pars gas field.

Euronews

Markets on edge as ECB prepares to set interest rates amid energy price surge

European markets have opened lower as investors await the European Central Bank’s rate decision, with a sharp rise in gas and oil prices fuelling fresh inflation concerns.

Euronews

Oil prices spike as attacks on Middle East energy sites stoke fears

The price of Brent crude oil was rising by about 7% to cross 114 US dollars a barrel on Thursday morning.

Evening Standard

FTSE 100 Live 19 March: Markets slump as gas and oil prices surge, wage growth at five-year low

Stock markets are deep in the red after gas and oil prices spiked in response to attacks on energy facilities in the Middle East.

Evening Standard

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The Guardian - UK

Bank of England tipped to raise UK interest rates twice this year to fight inflation shock from Middle East crisis, as oil and gas prices rise – as it happened

UK central bank has left rates on hold, and warned that CPI inflation will be higher in the near term as a result of the ‘new shock to the economy’ from Iran war

Evening Standard

Trump warns US will 'massively blow up' world's largest gas field if Iran attacks Qatar again

‘The pendulum of war has swung to a full-scale economic war,’ warns Iranian governor - as oil price rises again

The Times of India

South Pars, Ras Laffan & more: Which energy sites have been hit so far in Iran war?

Qatar condemned what it called a “brutal Iranian attack targeting Ras Laffan,” saying it posed a direct threat to national security. The foreign ministry also warned that “Targeting energy infrastructure constitutes a threat to global energy security, to the peoples of the region, and to its environment.” As missile and…

The Independent UK

The Strait of Hormuz has been disrupted before. A look at past moments that threatened oil flows

The U.S. and Israel’s war with Iran has thrust the Strait of Hormuz into the crosshairs of yet another geopolitical conflict

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The Guardian - UK

We need to be honest about Iran – and how our rampant greed for oil is causing mayhem

Oil has empowered capitalism, and some of the world’s most exploitative regimes. Move away from it and we can solve some of the key issues we face, says Guardian columnist George Monbiot

The Independent UK

Ukraine-Russia war latest: Kremlin delivers update on peace talks as war rages in Middle East

Orban has shown no signs of backing down in row over Russia oil flows

The Independent UK

Thousands in Moldova cut off from water after Russian strike pollutes river

Moldova’s environment ministry declared an environmental state of alert for 15 days

The Independent UK

Iran-US war latest: Israel launches fresh attack as Trump tells Netanyahu not to repeat strikes on Iranian energy

Benjamin Netanyahu said Tehran is ‘weaker than ever’ as he praised Donald Trump for his co-operation in the US-Israeli war

The Guardian - UK

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 Times of India

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 Independent UK

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

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