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The Latest Breaking News from Oil

‘Blue-sky flood’ as waters reach outskirts of Longreach – as it happened

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The Guardian - AU

Interest rate hike 'no slam dunk' amid Iran uncertainty

Traders and economists widely expect the Reserve Bank to lift interest rates but uncertainty over the Iran war could convince the board to keep them on hold.

AAP

Strait of Hormuz open? Iran FM says key oil route closed only to 'enemies'

Iran's foreign minister stated the Strait of Hormuz remains open to all nations except the US and Israel, following US airstrikes. He asserted that while many ships avoid the passage due to security concerns, this is not Iran's doing. Meanwhile, former President Trump urged global powers to send warships to…

The Times of India

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Trump says US may strike Iran’s Kharg Island oil export hub ‘just for fun’

In comments to NBC News, US president also deflates hope of deal with Tehran, saying ‘terms aren’t good enough’

The Guardian - US

UK could send minehunter drones to Strait of Hormuz and is ‘intensively’ looking at options to unblock key route

Energy secretary Ed Miliband says there is ‘a range of things’ the UK could do to secure the route after Donald Trump urged allies to send warships to defend key shipping route

The Independent UK

Military chiefs mulling use of minehunter drones amid Iran oil blockade

Donald Trump on Saturday urged the UK and other nations to send naval vessels to help secure the Strait of Hormuz.

Evening Standard

Another fire hits Gulf energy infrastructure: Sharjah petroleum storage blaze ignites security fears amid Iran vs US-Israel war

A fire at a petroleum storage facility in Sharjah's Sajaa Industrial Area was brought under control late Saturday night. Emergency services responded swiftly to contain the blaze, believed to have been triggered by a tank leak. No casualties were reported but the incident highlights regional security concerns surrounding energy infrastructure.

The Times of India

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'Must take care': Trump urges nations to send warships to Strait of Hormuz as conflict with Iran intensifies

Former US President Donald Trump urged global nations to deploy warships to secure the Strait of Hormuz amidst Iranian retaliation. He stated the US would assist in coordinating efforts to ensure smooth passage for oil shipments. Trump also indicated the US would take strong action against Iranian vessels.

The Times of India

US Energy secretary directs oil company to restore operations off California

U.S. Energy Secretary Chris Wright has directed a Texas-based oil and gas company to restore operations in waters off southern California that were damaged by a 2015 oil spill, invoking the Defense Production Act

The Independent UK

Trump claims international coalition to send war ships to reopen strait of Hormuz

U.S., Israeli and Western officials say the situation at the strait has been the key concern for the Trump administration in recent days.

Axios

As Iran war rages, White House ignores Ukraine’s game-changing drone proposal

Ukraine is currently awaiting White House approval for a significant drone production agreement that Kyiv proposed last year, according to Ukrainian President Volodymyr Zelenskyy. This deal is significant, especially as countries worldwide are scrambling to modernize their air defenses after the ongoing Iran war highlighted some serious shortcomings in current…

The Mary Sue

'Peak war panic' will likely hit financial markets in 1-3 weeks, strategist predicts, as Trump says he doesn't want to make a deal with Iran yet

"The end is not in sight. The Strait of Hormuz is effectively closed, and markets are starting to price in a prolonged, uncertain endgame."

Fortune

Evacuate ports, docks in Dubai, Abu Dhabi, Fujairah: Iran warns; claims 'American hideouts' in UAE emirates 'used' to strike oil hub Kharg Island amid war with US-Israel

Tensions surge as Iran warns residents to evacuate UAE ports, including Dubai and Abu Dhabi, claiming they are used by US forces. This unprecedented threat follows US strikes on Iran's oil hub, escalating fears of a wider regional conflict. The warning highlights the vulnerability of vital economic centers and global…

The Times of India

Trump Reduced to Begging China, the UK, and Allies He Once Scorned to Send Warships as Hormuz Crisis Spirals

Trump publicly urged China, the UK, France and other allies he once alienated to send warships to the Strait of Hormuz as Iran's blockade chokes global oil supplies.

International Business Times UK

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The Times of India

Force majeure explained: Why Gulf countries are invoking it amid Iran vs US-Israel war

Middle East conflict triggers force majeure declarations from Gulf energy producers like Qatar, Bahrain and Kuwait. Attacks and shipping disruptions in the Strait of Hormuz have halted oil and gas exports, causing global price spikes and supply chain concerns amid Iran vs US-Israel war. This legal clause highlights the immediate…

The Guardian - AU

Rate rises, helium shortages, EV sales spikes: how is the disruption in Iran’s strait of Hormuz affecting Australia?

The ‘largest supply disruption in history’ due to the US-Israeli war on Iran is affecting prices from plastic to jet fuel to fertiliser

The Times of India

Donald Trump rejects Middle East mediation to end Iran war: Report

Middle Eastern allies' diplomatic efforts to end the two-week Iran war were rebuffed by the Trump administration, with both Washington and Tehran appearing set for an extended conflict. Iran rejected any ceasefire until US and Israeli strikes ceased, while the US focused on weakening Tehran's military capabilities. The war has…

The Independent UK

Trump posts footage showing apparent strikes on Iran’s main oil hub

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The Independent UK

Donald Trump urges UK to send warships to secure Strait of Hormuz

The US president piled pressure on Keir Starmer to deepen the UK’s involvement in the escalating conflict in the Middle East

The Guardian - UK

Five arrested in Cuba after protest at local Communist party office

Rare action began peacefully but ‘degenerated into vandalism’ according to state-run newspaper

The Guardian - US

How the war in Iran and its economic fallout could lead to Trump’s defeat

The war is deeply unpopular, and the spike in oil prices will mean long-term high prices across the board for Americans

The Independent UK

Trump calls on allies to help get Strait of Hormuz ‘OPEN, SAFE, and FREE’

President Donald Trump has warned that the U.S. will continue to “bomb the hell out of the shoreline” of Iran to break the blockade of the Strait of Hormuz. The Strait, a crucial shipping route for one-fifth of the world's oil and liquefied gas, is reportedly under the “complete control”…

The Times of India

Middle East crisis Day 15: Iran hits US embassy in Baghdad, UAE oil hub struck as war widens across Gulf

The US-Israel conflict with Iran escalated significantly on its 15th day. Iran targeted the US embassy in Baghdad and a UAE oil hub, while Israel struck Lebanon and Iraq. Debris from intercepted missiles hit Dubai twice. The war now directly impacts diplomatic sites and oil infrastructure across the Gulf, with…

The Guardian - UK

Trump calls on UK to send warships to keep strait of Hormuz open

US president urges nations to deploy vessels to keep key oil shipping route open amid conflict with Iran

International Business Times UK

Donald Trump Fury: US Offers $10m Bounty for Information on Iran's New Ayatollah Amid Massive Strikes

Donald Trump has posted footage he said shows US strikes on Iran's Kharg Island, while Washington has offered up to $10 million for information on Iran's new supreme leader and other senior figures.

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