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The Latest Breaking News from Oil

European ministers call for profit caps on energy companies as Iran war drives price surge

Finance ministers from five European Union member states are urging the bloc to introduce a windfall tax on energy companies as surging oil and gas prices raise inflation fears

The Independent UK

Cubans study oil tanker diplomacy for signs of progress in secret talks with US

Despite hostile rhetoric Trump let a Russian ship break his blockade – could it herald a Venezuela-style outcome?

The Guardian - US

Oil Prices Are Climbing: 5 Ways to Get Ahead of Higher Summer Costs Before They Hit Your Wallet

Oil prices are rising fast. Learn where costs will hit next and how to save

Kiplinger

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MarketBeat Week in Review – 03/30 - 04/03

Stocks and the price of oil continue to be inversely linked, and that's likely to remain the case heading into a new earnings season

MarketBeat

Donald Trump called allies ‘cowards’ for not joining Iran war. Now they’re fixing it themselves and didn’t even invite him

Finally, someone’s dealing with this like adults.

We Got This Covered

Five EU finance ministers call for 'tax on energy companies' windfall profits

Five European Union finance ministers are calling for a tax on windfall profits of energy companies in reaction to rising fuel prices due to the Iran war, according to a letter from the ministers to the EU Commission seen by Reuters on Saturday.

Radio France Internationale

Oil, strait of Hormuz and empty threats: a timeline of Trump’s flip-flopping on the Iran war

In the fifth week of the war, Trump continues contradicting himself on its objectives and how Americans are affected

The Guardian - US

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God on their side, the bill on ours: Counting the real cost of the war in West Asia for India

With guns in their hands and God on their side – Bob Dylan John Mearsheimer writes in The Tragedy of Great Power Politics: “States rarely go to war unless they think that rapid success is likely.”It has been more than a month since Benjamin Netanyahu and Donald Trump started the…

Newslaundry

New North Sea drilling would barely reduce UK gas imports at all, data shows

Exclusive: research finds Jackdaw field would provide only about 2% of current demand, and Rosebank only 1%

The Guardian - UK

Iraq turns to Turkey for oil exports as Middle East war reshapes routes

Iraq is turning to Turkey as an alternative route for its oil exports, as the war in the Middle East continues. The Iraqi move comes as Ankara steps up efforts to capitalise on the shifting diplomatic, economic and security landscape in the region.

Radio France Internationale

Why Trump’s ‘God Squad’ decision to expand oil drilling in Gulf of Mexico is a vote for a whale’s extinction

A federal decision, approved upon the request of the Trump administration, to expand Gulf oil drilling has heightened fears of extinction for the critically endangered Rice’s whale, with fewer than 50 individuals remaining. Scientists note the species already lost over 20% of its population after the Deepwater Horizon spill, warning…

The Times of India

Wait, Is Eucalyptus Actually the Best Choice for Outdoor Furniture? Here's How It Weighs Up Against Its Teak and Acacia Counterparts

From weather resistance to maintenance and eco credentials, we break down how eucalyptus compares to two of its biggest rivals before you invest in your next garden set

Livingetc

Much of Iran’s military may be ‘decimated,’ but it’s winning the energy war as it picks who gets cargoes through the Strait of Hormuz

The war of attrition in Iran could lead to an Iranian “major victory” if the U.S. withdraws without controlling commerce.

Fortune

The new spring detox? How to eat like a Greek monk over Lent

A proper fast for a few weeks can boost health, researchers and nutritionists say.

Euronews

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The Times of India

'Only real leverage': Iran unlikely to reopen Strait of Hormuz anytime soon, claims US intelligence report

Recent US intelligence reports indicate Iran is unlikely to reopen the Strait of Hormuz anytime soon, as control of the key oil chokepoint remains its main leverage against the United States, Reuters reported.

The Times of India

Middle East continues to boil: Iran rejects US 48-hour ceasefire proposal

Iran has reportedly rejected a US proposal for a 48-hour ceasefire, with an unnamed source citing the offer was delivered via an intermediary. Tehran insists on a guaranteed, permanent end to hostilities and has dismissed claims by US President Trump about seeking a temporary truce.

The Guardian - UK

‘India is going to face a food crisis’: Farmers panic over fertiliser shortages amid Iran war

Ripple effects of oil and fertiliser shortage felt by farmers in India and Sri Lanka despite governments saying there is enough stock to go round

The Independent UK

Trump administration to rejoin offshore drilling agencies separated after 2010 Gulf oil spill

The Trump administration said Friday it is rejoining two agencies that were split up in the aftermath of the 2010 Gulf oil spill

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news in one place.

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The Independent UK

Fox host cuts off Trump’s top economic adviser when he tries to blame Biden for gas price spike amid Iran war

The national average cost of gas has exceeded $4 a gallon in the US as Americans bear the brunt of Trump’s war against Iran

The Times of India

‘Keep the oil, anyone?’ Trump jabs allies as Iran blockade hits supplies

US President Donald Trump stated that the United States is currently in the midst of a war and emphasized that the downing of two American jets would not impact ongoing or future negotiations with Iran. Speaking about the US-led search and rescue operations in Iran following the incidents, Trump declined…

We Got This Covered

Donald Trump goes full villain, declares whales a threat to national security, calls on his ‘God Squad’ to eliminate them

Donald Trump is content to wipe a species off of the face of the earth for his greed.

Radio France Internationale

French, Japanese ships cross Strait of Hormuz in first since war

One French- and another Japanese-owned vessel are among a handful of vessels to have crossed the war-torn Strait of Hormuz, maritime tracking data showed Friday.

Reason

Trump's Answer to Iran's Hormuz Crisis: Sell Oil We Don't Have

The administration claims we're a "net oil exporter," but unfortunately that's not quite true.

Barchart

Trade Strait of Hormuz Headlines and Profit with Unusual Options Activity in Royal Caribbean Stock

The VIX opened Thursday trading higher, but dropped back on good news about traffic through the Strait of Hormuz. Cruise operators like Royal Caribbean are greatly affected by higher fuel prices. RCL’s unusual options activity provides an attractive trade.

Fortune

Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says

“Unless Strait of Hormuz transit resumes, the stress in refined products and the shortages we’re seeing across Asia will spread, and quickly.”

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