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The Latest Breaking News from Oil

Zelensky to visit UK on Tuesday as Starmer warns of oil ‘windfall’ for Russia

The Ukrainian president’s visit comes as the Middle East conflict has driven up the price of oil, benefiting Russia.

Evening Standard

‘Won’t wait while people struggle’: Keir Starmer announces £53m heating‑oil support for households amid Iran war

The UK government has unveiled a £53 million emergency support package to help vulnerable households struggling with soaring heating oil costs, as global energy markets remain volatile amid the ongoing conflict in the Middle East.

The Times of India

Strait of Hormuz: How the Closure Impacts Gas, Food Prices and Mortgages

Key Takeaways: Inflation is predicted to rise to 3.5-four percent by mid-year. Food prices are expected to rise within 60 days. Mortgage rates rose from...

Saving Advice

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Why hasn’t the UK sent warships to the Strait of Hormuz?

Donald Trump has warned that the Nato alliance faces a “very bad” future unless allies send warships to help reopen the key oil route

The Independent UK

US oil prices could see another day of wild fluctuation as Iran war drags on

One analyst predicting that prices at the pump might hit $3.85 per gallon on Monday as war enters third week

The Guardian - US

Chris Watts Murders Back in Spotlight as Fox Nation's New Documentary Reexamines Tragic Case

Explore the chilling details of Chris Watts' family murders in Fox Nation's new documentary, revisiting one of America's most disturbing cases

International Business Times UK

Crude Oil Prices Slump on Hopes Strait of Hormuz to Soon Reopen

April WTI crude oil (CLJ26 ) today is down -3.35 (-3.39%), and April RBOB gasoline (RBJ26 ) is down -0.0033 (-0.11%). Crude oil prices are sharply lower today on hopes that oil tankers may soon be able to move through the Strait of Hormuz. Several oil tankers safely navigated the...

Barchart

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From the strait of Hormuz to Malacca, global trade relies almost entirely on these five narrow waterways

The conflict in Iran has disrupted energy and commodity markets. Iran has effectively closed the narrow strait of Hormuz, a vital oil transit point, attacking more than a dozen ships over the past two weeks that have tried to sail through the waterway.

The Conversation

Explainer: Why Kharg Island is vital to Iran and the global economy

Strikes have already hit military infrastructure on a small Iranian island in the Persian Gulf — but if oil facilities are targeted next, the global economy could face a serious shock.

Euronews

Stocks Rally as Crude Oil and Bond Yields Fall

The S&P 500 Index ($SPX ) (SPY ) today is up +1.04%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.94%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.12%. March E-mini S&P futures (ESH26 ) are up +1.05%, and March E-mini Nasdaq futures...

Barchart

Michelle O’Neill says UK heating oil support ‘slap in the face’ for Northern Ireland

The First Minister told MLAs ‘these are the real-life implications of war’

The Independent UK

Michelle O’Neill: UK heating oil support ‘slap in the face’ for Northern Ireland

The First Minister told MLAs ‘these are the real-life implications of war’ as she called on them to ‘fight together for the people that we represent’.

Evening Standard

Man v. Nature

Federal appellate courts are enacting an anti-environment agenda—especially in the ultraconservative 5th Circuit, new analysis shows.

Texas Observer

Starmer set for Zelensky talks amid Russian oil ‘windfall’ fears

IN FULL

The Independent UK

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International Business Times UK

Trump Asks 7 Countries to Send Warships in Strait of Hormuz—No Commitments Yet as Tensions Escalate

President Donald Trump calls on seven nations, including China and the UK, to deploy warships to the Strait of Hormuz following US-Israeli strikes on Iran.

Euronews

Still no Mojtaba: Iran war enters third week amid leadership crisis as Norwuz looms

Iran’s war enters a third week as uncertainty over Mojtaba Khamenei's condition and whereabouts, rising tensions over possible unrest around Nowruz and Chaharshanbe Suri and oil market turmoil deepen the crisis.

The Independent UK

Who is eligible for Starmer’s £53m heating oil support package?

IN FULL

International Business Times UK

UAE Warns Continued Iran Attacks on Gulf Nations Threaten Regional Security and Stability

The UAE is experiencing heightened tensions due to Iranian warnings and drone incidents, raising concerns about regional stability and security.

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news in one place.

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Barchart

Stocks Rebound as Crude Oil Prices Move Lower

The S&P 500 Index ($SPX ) (SPY ) today is up +1.23%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +1.06%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.30%. March E-mini S&P futures (ESH26 ) are up +1.15%, and March E-mini Nasdaq futures...

The Independent UK

Starmer tells Trump: UK will not be dragged into wider war on Iran

Prime minister says UK is working with allies on a plan to reopen the Strait of Hormuz but admits ending blockade is not ‘straightforward’

The Guardian - AU

Replacing 1m petrol cars with EVs could cut Australia’s reliance on foreign fuel by 1bn litres a year

Electric vehicles reduce exposure to global oil price shocks and shift energy consumption to electricity largely produced domestically, expert says

Evening Standard

NI Finance Minister says £17m UK heating‑oil support ‘extremely disappointing’

Sir Keir Starmer confirmed Northern Ireland will receive £17 million of a £53 million package in support for home heating oil costs.

Fortune

Current price of oil as of March 16, 2026

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

International Business Times

Iran War Keeps Oil Prices Over $100 as Strait of Hormuz Remains Paralyzed

LONDON — Oil prices held firmly above $100 a barrel on March 16, 2026, as the ongoing U.S.-Israel war with Iran entered its third week, with Iran's effective blockade of the Strait of Hormuz continuing to choke global supply lines despite President Donald Trump's repeated demands for international help to…

Latin Times

Trump Reportedly Considering Operation In Iran That Could Require Boots On The Ground

President Donald Trump is considering an operation to seize Iran's key oil infrastructure in Kharg Island, something that would require having boots on the ground, according to a new report.

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