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The Latest Breaking News from Oil

Amid a surge in energy prices, a windfall tax on gas profits could be the best way to protect households

The war in Iran has once again exposed how vulnerable the world’s energy markets are to geopolitical disruption. In wild swings, benchmark crude oil prices spiked as high as US$120 per barrel, roughly 50% higher than before the conflict, before sliding below $100.

The Conversation

Sugar Prices Fall on the Plunge in Crude Oil Prices

May NY world sugar #11 (SBK26 ) on Tuesday closed down -0.21 (-1.44%), and May London ICE white sugar #5 (SWK26 ) closed down -2.10 (-0.50%). Sugar prices fell on Tuesday's -11% plunge in crude oil prices. The sell-off in crude oil prices undercuts ethanol prices, encouraging the world's sugar...

Barchart

U.S. Reportedly Asks Israel To Refrain From Further Strikes On Iranian Energy Facilities

The Trump administration asked Israel to refrain from striking more energy facilities in Iran as global prices continue to oscillate as a result of the ongoing conflict, according to a new report.

Latin Times

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Middle East conflict is pushing oil prices higher — and most Canadians will feel the costs

Since American and Israeli missiles began striking Iran, global oil prices have jumped sharply. The conflict has resulted in the disruption of tanker traffic through the Strait of Hormuz, which carries about one-fifth of the world’s oil shipments.

The Conversation

US Navy has not escorted a tanker through Strait of Hormuz but...: White House clarifies energy secretary's deleted post

White House spokesperson Karoline Leavitt Tuesday clarified that US Navy did not escort a tanker through the Strait of Hormuz at this time but added that it remains an option that the president will utilize if and when necessary. Hours before Leavitt's press conference, US energy secretary Chris Wright claimed…

The Times of India

Want to Smell Like Carolyn Bessette-Kennedy? Grab These 7 Fragrances Before They Sell Out

Her rumored go-to is out of stock, but I found the perfect alternative.

Marie Claire

Americans are hit with a harsh new reality at the pump as the war on Iran triggers a devastating fuel crunch for travelers

Americans are facing a fresh hit to their wallets as gas prices surge, thanks to the escalating conflict with Iran, creating a major headache for President Donald Trump and Republicans heading into the midterm elections. According to Fox News, GasBuddy said that this week the national average for gasoline shot…

The Mary Sue

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Scoop: U.S. asks Israel to halt strikes on Iran's energy infrastructure

The strikes blanketed Tehran in toxic black smoke and acid rain

Axios

Supersonic US bombers take off from Britain as Trump ramps up war on Iran with heaviest airstrikes

‘Today will be yet again, our most intense day of strikes inside ⁠Iran: the most fighters, the most bombers,’ said US Defence Secretary Pete Hegseth

Evening Standard

Is the Airline Stock Dip After the Iran Attacks Justified?

The start of the Iran war has sent airline shares plunging. Many signs point to continued hard times ahead for airline companies around the globe.

MarketBeat

Iran oil shock: the EU has very few options to limit the war’s economic impact – and prevent a recession

After the US and Israel began their military strikes on Iran on February 28, oil and gas markets were plunged into chaos and energy prices shot up. As of today, Brent Crude Oil prices are 20% higher than in late February. They went from around $70 a barrel in late…

The Conversation

FTSE 100 rallies as inflation fears ease

The FTSE 100 index closed up 162.72 points, 1.6%, at 10,412.24.

The Independent UK

Republicans are on edge as Trump’s advisers quietly guide him toward a hush-hush decision on Iran

The situation is not the same behind the scenes.

We Got This Covered

From energy bills to petrol and groceries: How the Iran-US war could affect cost of living in the UK

The impacts of the conflict have been compared to Russia’s war on Ukraine, which pushed prices up for British households

The Independent UK

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The Guardian - UK

Tehran endures ‘worst night of strikes’ amid mixed US messages about more to come

Hegseth follows Trump’s suggestion war will soon be over by saying US will not stop until Iran ‘decisively defeated’

The Times of India

Fuel crisis: Major UAE oil refinery shut after drone attack; global energy body calls 'emergency meeting'

A major UAE oil refinery halted operations following a drone attack, intensifying fears of a global energy crisis. The International Energy Agency is convening an emergency meeting to assess supply risks and consider releasing strategic oil reserves. Escalating attacks on Gulf energy infrastructure are causing severe disruptions across various industries,…

The Independent UK

UK inflation warning as soaring oil prices threaten 3% high

IN FULL

We Got This Covered

$120 oil had markets terrified, but Trump’s two-sentence response flipped everything on its head

A much welcome development.

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news in one place.

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Latin Times

Trump Leaves Door Open to Seizing Iranian Oil: 'Certainly People Have Talked About It'

Trump pointed to Venezuela as an example of how the United States has already sought to secure foreign energy resources

Barchart

Sugar Prices Fall on Today's Plunge in Crude Oil Prices

May NY world sugar #11 (SBK26 ) is down -0.21 (-1.44%), and May London ICE white sugar #5 (SWK26 ) is down -2.40 (-0.57%). Sugar prices are trading lower due to today's -11% plunge in crude oil prices. The sell-off in crude oil prices undercuts ethanol prices, encouraging the world's...

The Conversation

Who profits from war with Iran? Understanding that will be key to resolving the conflict

When US and Israeli forces launched airstrikes on Iran, the shock waves were felt far beyond the region. As the conflict escalates, understanding who benefits from this crisis might be as important as counting its costs.

Kiplinger

The February CPI Report Is Tame, but Higher Inflation’s Coming

The February CPI report arrived in line with estimates, but rising oil prices will likely lift inflation in March.

The Guardian - UK

How are EU and member states reacting to energy crisis triggered by Iran war?

Prospect of Trump easing US sanctions on Russian oil is a nightmare for the bloc as nations work out how to respond

Barchart

Cotton Rallying Higher on Tuesday

Cotton futures are up 75 to 85 points in the front months on Tuesday. Crude oil is back down $9.69 on Tuesday. The US dollar index is back down $0.556 at $98.620. The USDA WASDE report showed no changes to the US balance sheet, as stocks were left at 4.4...

Barchart

Wheat Falling Back on Tuesday

The wheat complex is trading with losses across the three exchanges. Chicago SRW futures are down 11 to 15 cents in the nearbys. KC HRW futures are 13 to 15 cents in the red so far. MPLS spring wheat is 11 to 16 cent slower. Crude oil is down another...

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