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The Latest Breaking News from Oil

Iran oil shock splits the world as exporters pocket windfall and importers buckle

As oil prices surge, one question is emerging as the key determinant of economic vulnerability: does a country sell energy, or buy it?

Euronews

Donald Trump's 'Excursion' Gaffe: POTUS Mocked Over Iran War 'Lies' In Fox News Clash

Trump's description of the Iran war as a "little excursion" has triggered backlash and ridicule as casualties rise and critics accuse him of trivialising the conflict.

International Business Times UK

When stock markets get shaken, it can pay for investors to be patient

When stock markets are falling, it’s natural to want to do something quickly to protect your retirement savings

The Independent UK

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Stocks Retreat Amid Rising Crude Prices and Credit Worries

The S&P 500 Index ($SPX ) (SPY ) today is down -1.22%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -1.32%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.46%. March E-mini S&P futures (ESH26 ) are down -1.20%, and March E-mini Nasdaq futures...

Barchart

Watch: Strait of Hormuz, Iran and naval mines — an explosive mix?

The narrow Strait of Hormuz is becoming a literal geopolitical landmine. The US wants to control it, but for Iran, the waterway is its ultimate leverage. Who is up for a history lesson?

Euronews

Putin’s ‘hidden hand’ lies behind Iran’s drone tactics, UK defence secretary says

Pilots reportedly adopting Russian tactics as statement in name of new Iranian supreme leader vows continued attacks on US bases

The Guardian - UK

Putin’s ‘hidden hands’ may be behind Iran tactics – John Healey

John Healey visited the Northwood military headquarters in Hertfordshire.

Evening Standard

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Keir Starmer ‘working to de-escalate the war’ as Iran vows to avenge its dead

Ayatollah Mojtaba Khamenei has also threatened to continue blocking the Strait of Hormuz, driving up oil prices.

Evening Standard

Treasury to work with NI Executive on heating oil support, Starmer says

Sir Keir Starmer said he is determined to stop people ‘getting ripped off’ on their energy bills.

Evening Standard

Iran Guard Vows to Target Banks, Economic Centres in War Risking Global Economy

Iran's Islamic Revolutionary Guard Corps has issued a warning that could have far-reaching effects on the global economy, as tensions rise in the Middle East.

International Business Times UK

Iran War Triggers 400M Barrel Oil Release as Europe Fears Ukraine-Style Inflation

Europe is racing to prevent a new inflation shock after the Iran conflict rattled energy markets, with a historic 400-million-barrel oil release aimed at stabilising prices.

International Business Times UK

3 ETFs to Avoid as Oil Shock Hits Markets

With oil prices soaring near $100 per barrel, certain sectors are feeling more pain than others. Here are three ETFs to avoid amid oil's market roil.

MarketBeat

Oil price escalation could help China grasp more green global leadership

With crude oil prices incredibly volatile as the war in Iran continues, some countries are already warning they may run out of oil.

The Conversation

Trump promises to release nation’s oil reserves to steady gas prices after his Iran War caused massive spikes

Last week, oil surged past the $100-a-barrel milestone, after recording its largest one-week spike since March 1983

The Independent UK

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Barchart

Stocks Fall as Oil Prices Continue to Climb

The S&P 500 Index ($SPX ) (SPY ) today is down -0.88%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -1.06%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.03%. March E-mini S&P futures (ESH26 ) are down -0.97%, and March E-mini Nasdaq futures...

The Guardian - UK

Russia earned €6bn from fossil fuel exports since start of Iran war, data suggests

Figures from thinktank show Russia received extra €672m in revenues from oil, gas and coal during March so far

Euronews

Global Loss and Damage Fund Offers Hope as Africa Faces Rising Climate Costs {Business Africa}

Africa is waiting for real financing from the global Loss and Damage Fund designed to help countries cope with climate-related destruction. From the Strait of Hormuz to African markets: Rising geopolitical tensions are pushing up global oil prices—driving higher fuel and food costs in Africa

Fortune

Recession and stagflation risks are rising due to Iran conflict, as economist warns it’s ‘getting harder to argue disruption will be temporary’

"Clearly, the longer that oil remains at these levels, expectations of a sustained shock will only grow," Deutsche Bank's Jim Reid said.

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Fortune

Current price of oil as of March 12, 2026

When oil prices change, it affects your energy costs—and even the price of everyday items. Here’s why.

Radio France Internationale

Climate watchdog urges France to set roadmap to phase out fossil fuels

France’s top climate advisory body on Thursday called on the government to set out a precise roadmap for phasing out coal, oil and gas, warning that the country's "ambitious" climate targets will need clearer political backing and stronger implementation.

The Guardian - US

Iran war punctures Trump’s ‘drill, baby, drill’ promise on US gas prices, experts say

Fossil fuel supply is more vulnerable to global shocks than renewable power sources and efforts to boost efficiencies

Barchart

Soybeans Continue Double Digit Gains on Thursday Morning

Soybeans are trading with 15 to 17 cent gains so far on Thursday. Futures saw gains of 12 to 14 cents in the front months on Wednesday. Open interest showed net new buying, up 15,897 contracts. There were 23 deliveries notices against March futures overnight. The cmdtyView national average Cash...

Evening Standard

Cooper flies to Gulf in show of solidarity amid Iranian bombardment

The Foreign Secretary’s visit is the first to the region by a UK minister since the outbreak of war at the end of February.

Evening Standard

'We'll make a lot of money,' says Trump as oil price jumps leaving millions facing higher energy, petrol and food bills

‘The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,’ says the US president

The Times of India

'We are simply not ready': US says its military cannot escort vessels in Strait of Hormuz right now

America's military is currently unable to escort oil tankers through the Strait of Hormuz. Energy Secretary Chris Wright stated that military assets are focused on Iran's offensive capabilities. Escort operations are expected soon, possibly by month's end. US forces have eliminated Iranian vessels suspected of laying mines near the strait.

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