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The Latest Breaking News from Oil

Ditch the Fancy Cleaning Products This March – Your Kitchen Cabinets Will Sparkle if You Switch to This Inexpensive, Non-Toxic Liquid for Spring Cleaning

You'll likely have a bottle of white vinegar hidden away in your cupboard, but did you know it works a dream on greasy, grimy cabinets?

Homes & Gardens

Morning Mail: strikes on ships raise stakes in Middle East, royal commission shock, art’s forgotten ‘genius’

Iran hits shipping in the strait of Hormuz prompting massive release of oil reserves; Dennis Richardson quits inquiry after two weeks

The Guardian - AU

The Iran War is causing Americans pain at the pump — but gas price hikes are spelling doom for these guys

ANALYSIS: Republicans are heading towards an election season led by a president who just launched an unpopular war in the Middle East that is raising gas prices, writes John Bowden. Sound familiar?

The Independent UK

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Trump says the U.S. will open its first new oil refinery in nearly 50 years as the U.S. military avoids bombing Iran's oil infrastructure

The refinery, which will be built in Brownsville, Texas, is backed by Indian energy group Reliance Industries.

Fortune

London's most expensive petrol: Garage selling 253.9p-per-litre unleaded as prices soar amid Iran war

Motorists hit with steepest fuel price increases since Russia’s invasion of Ukraine

Evening Standard

Nat-Gas Prices Rally as Iran War Drags On

April Nymex natural gas (NGJ26 ) on Wednesday closed up +0.189 (+6.26%). Nat-gas prices on Wednesday rallied in sympathy with crude oil prices and European gas prices as the Iran war drags on. Missiles hit three vessels on Wednesday in the Strait of Hormuz and the Persian Gulf, and new...

Barchart

Hungary and Slovakia resist renewal of Russia sanctions as deadline nears

The European Union wants to renew the individual sanctions on Russia by 15 March. But Hungary and Slovakia are blocking the decision. Tensions are running high between the three over the damaged Druzhba oil pipeline.

Euronews

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Iran escalates attacks on infrastructure and transport networks across the Gulf

Iranian officials warn of ‘war of attrition’ and global economic chaos as energy supplies are throttled

The Guardian - UK

Top economist says Iran war could trigger an economic ‘butterfly effect’—and keep inflation elevated for years

"Much like we saw in the wake of the pandemic," KPMG's Diane Swonk said, "those changes could trigger a longer-lasting bout of inflation."

Fortune

What is the Strait of Hormuz and why is it so important?

The world's busiest oil shipping channel has around a fifth of the world’s oil passing through it each year

Evening Standard

Crude Prices Rally Despite IEA Stockpile Release

April WTI crude oil (CLJ26 ) is up +4.62 (+5.54%), and April RBOB gasoline (RBJ26 ) is up +0.14379 (+5.60%). April WTI crude oil on Monday spiked up to a 3.75-year nearest-futures high of $119.48 but has since fallen back to the $87-per-barrel area. Crude oil prices spiked higher to...

Barchart

Corn Rallying on Wednesday

Corn futures are up 6 to 8 cents in the front months, with March up 10 ¼ cents. There were 553 deliveries against March corn overnight. The CmdtyView national average Cash Corn price is up 7 1/4 cents to $4.19. Crude oil is back up another $3.03 on Wednesday, adding...

Barchart

Cotton Slipping Lower on Wednesday

Cotton futures are 5 to 11 points in the red at midday. Crude oil is back up another $3.03 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves. The US dollar...

Barchart

Soybeans Rallying on Wednesday

Soybeans are trading with double digit gains at midday, with contracts up 14 to 17 cents. The cmdtyView national average Cash Bean price is up 15 1/4 cents at $11.42 1/4. Soymeal futures are up 80 cents to $1.10, with Soy Oil futures 197 to 261 points higher. There were...

Barchart

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The Guardian - UK

Heating oil prices are being driven by greed, not war

Letter: It is hard to believe that attacks which started on 28 February can have had such a huge impact on oil that must have already been in the country, says Graham Judge

The Independent UK

Urgent boiler warning after product recall due to carbon monoxide fears

The Viessmann Vitorondens 200-T / 222-F Oil Condensing Boiler with Vitoflame 300 Oil Blue Flame Burner has been recalled

Evening Standard

FTSE 100 falls as Iran war lifts inflation fears

The FTSE 100 index closed down 58.47 points, 0.6%, at 10,353.77.

The Independent UK

Bulletin world briefing: Iran issues oil price threat and Spain pulls Israel ambassador

Here are five of the biggest stories from around the world today

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The Conversation

Trump says the Iran war will end ‘very soon’ – but it is not clear how

Donald Trump has said he thinks the war with Iran will be over soon. In a phone interview with CBS News on Monday, March 9, the US president said: “I think the war is very complete, pretty much … we’re very far ahead of schedule.”

The Conversation

These are shaky times for oil markets. An expert explains what a prolonged war will mean for prices

The US-Israel strikes on Iran have launched one of the most dramatic conflicts in the Middle East in living memory. Aside from military targets, Iranian forces have attacked commercial shipping and infrastructure in the region. The objective is simple: to disrupt oil exports and weaken its opponents’ economies.

InsideEVs

Gas Prices Are Up, And So Are Searches For EVs: Edmunds

The Iran conflict is driving up gas prices. Edmunds says that shoppers are looking to electrified models for relief.

The Independent UK

Photos of beachgoers in UAE where oil tankers and cargo ships line up in Hormuz Strait

People on the coast of the United Arab Emirates can see oil tankers and cargo ships line up in the Strait of Hormuz while playing on swings, riding horses and camping out on the beach near Khor Fakkan, as the war in Iran affects the global energy supply.

Barchart

Stocks Pressured by Higher Oil Prices, But Positive Oracle AI News Helps Tech Stocks

The S&P 500 Index ($SPX ) (SPY ) is down -0.30%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.88%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.11%. March E-mini S&P futures (ESH26 ) are down -0.42%, and March E-mini Nasdaq futures (NQH26...

Fortune

The fog of war is coming from inside the White House—and it cost oil markets $84 million in ten minutes

Meanwhile, the market shrugs at news of a record emergency release of oil.

Radio France Internationale

France backs emergency release of oil reserves as supply fears grow

France, which holds the G7 presidency, said Wednesday that major economies were ready to act to stabilise oil markets as the US-Israeli war with Iran enters its second week and disrupts supply.

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