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The Latest Breaking News from Oil

Skyrocketing energy prices and inflation woes mount as the ‘absurd’ reality in Iran sinks in

Energy prices may jump to all-time highs soon as the Iran war escalates without a ceasefire or a clear victory.

Fortune

Why Iran Suddenly Allowed Indian LPG Ships Through Hormuz

Sometimes the biggest global crises are solved quietly. No headlines. No dramatic announcements. Just a few urgent phone calls between world leaders. But behind those conversations, decisions are made that affect millions of everyday lives. Recently, something similar happened when Iran allowed two Indian LPG carriers to pass through the…

MyLifeXP

Ukraine-Russia war latest: Zelensky blocks drone sales as he waits for Trump to resume peace talks with Putin

Zelensky says Washington had proposed hosting a meeting but Moscow refused to send a delegation to take the talks forward

The Independent UK

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Is Kharg Island Iran’s Achilles Heel? Why Trump has designs on tiny oil hub in the Persian Gulf

IN FOCUS: The island holds 94 per cent of Iran’s oil exports and could choke off the country’s economy for years. Maira Butt and James C. Reynolds report

The Independent UK

TV Newsance 336 | LPG shortages hit kitchens across India, yet TV media says ‘no crisis'

This week on TV Newsance, we track the fallout of a world on fire as the Iran-Israel-US conflict enters its second week of devastation. With oil facilities in flames and Iranian skies choked by soot, the images coming out are nothing short of apocalyptic. Following the closure of the Strait…

Newslaundry

Iran-US war latest: Dubai shuts airport as Trump warns Nato faces ‘bad future’ if allies don’t help open Strait of Hormuz

The US president said it is only appropriate that those who benefit from oil coming through the waterway help to free it

The Independent UK

The Latest: Trump threatens Iran's oil infrastructure after US bombs island military sites

President Donald Trump says the U.S. destroyed military sites on an island vital to Iran’s oil network and warned that the island’s oil infrastructure could be next if Iran continues to interfere with the passage of ships through the Strait of Hormuz

The Independent UK

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‘One bullet and I’d hit Kharg’: Trump’s 38-year-old Iran warning resurfaces after latest strike

A resurfaced interview from 1988 has drawn fresh attention after US President Donald Trump ordered strikes on Iran’s strategic Kharg Island, revealing that the US president had spoken about attacking the same target nearly four decades ago.

The Times of India

US bombs military sites on Iranian island as Trump threatens its oil infrastructure

The Independent UK

President renews call for allies to secure strait of Hormuz – as it happened

This blog is now closed.

The Guardian - US

Watch: Donald Trump shares 'unclassified' video of US bombing Iran's crucial oil hub Kharg Island

US President Donald Trump announced a major bombing raid on Iran's Kharg Island, sharing "unclassified" aerial footage. While claiming military targets were obliterated, Trump stated oil infrastructure was deliberately spared, warning of reconsideration if shipping through the Strait of Hormuz is threatened. Iran confirmed strikes but denied any infrastructure damage.

The Times of India

Jet fuel prices are rising. That could make summer flights more expensive

Airline ticket prices are starting to climb as carriers respond to rising jet fuel costs tied to the war in Iran

The Independent UK

'White House now begging India': Iran FM Araghchi mocks US U-turn on Russian oil

Iran's foreign minister Araghchi slammed the US for pressuring India to stop Russian oil imports, only to now "beg" for such purchases. He also criticized Europe's stance on the Ukraine conflict. Meanwhile, Iran assured safe passage for Indian vessels through the Strait of Hormuz, highlighting strong India-Iran ties and shared…

The Times of India

'Heart of Iran's oil exports': US strikes Kharg Island — why it’s a big blow to Tehran

US President Donald Trump on Saturday announced that the United States had carried out strikes on Iran’s key oil export hub at Kharg Island. The US president said the operation targeted critical energy infrastructure linked to Iran’s oil trade.

The Times of India

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The Guardian - UK

Iran threatens to escalate war after Trump says ‘many countries’ will send warships to strait of Hormuz

US president calls on China, France, Japan and the UK to send vessels after US strikes Kharg Island oil facilities

The Independent UK

Rachel Reeves vows to support households with rising energy costs as Middle East crisis hits oil prices

Reeves has pledged to support those battling with escalating energy bills amid the Middle East crisis

Evening Standard

Reeves drawing up plans to help with energy costs as Iran war continues

Chancellor Rachel Reeves will ‘take the necessary decisions to help families with the cost of living and protect the public finances’.

The Times of India

'Totally obliterated': Trump announces US strike on Iran’s military targets at Kharg Island; spares oil infra

President Trump announced the US conducted a powerful bombing raid on Iran's Kharg Island, destroying military targets while sparing oil infrastructure. This action follows Iran's interference with shipping in the Strait of Hormuz and escalates the conflict involving the US, Israel, and Iran.

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Axios

U.S. conducts massive bombing of strategic Iran Island, Trump says

Trump called the strike "one of the most powerful bombing raids in the History of the Middle East."

Barchart

Soybeans Ease Lower into the Weekend

Soybeans rounded out the Friday session with contracts down 2 to 6 ¼ cents across the board, as May still held up for a 24 ½ cent gain. The cmdtyView national average Cash Bean price was down 2 cents at $11.50 1/4. Soymeal futures were down $1.60 to $2.50 higher...

Barchart

Cotton Posts Friday Rally

Cotton futures posted Friday gains of as little as 7 points in some deferreds, with front months up as much as 74 points. May was up 165 points on the week.. Crude oil was up $3.57 to $99.30, with the US dollar index up $0.776 to $100.530. CFTC data from...

The Mary Sue

Trump’s bold promises for Hormuz collapse after one devastating truth from his own administration

The United States military isn’t ready to escort oil ships through the Strait of Hormuz, according to a top official in President Donald Trump’s administration, directly contradicting earlier suggestions from the president. This news comes as Iran continues to effectively block the crucial waterway, causing oil prices to surge worldwide.

Axios

Trump turns to California offshore oil to help with Iran war

He invoked a Cold War-era law in a bid to boost oil production in the midst of the Iran war.

Euronews

NATO leaders call on Trump to reverse Russian oil sanctions suspension

The leaders of Canada, Germany and Norway are urging Trump to rethink his suspendion of Russian oil sanctions. In comments to Euronews, German Defence Minister Boris Pistorius said he is "concerned" at the potential impact on Ukraine.

Barchart

Iran War Drags Stocks Lower

The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.61%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.26%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.62%. March E-mini S&P futures (ESH26 ) fell -0.60%, and March E-mini Nasdaq futures...

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