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The Latest Breaking News from Oil

The Iran conflict will be the ‘straw that breaks the camel’s back’ for the U.S. economy if it goes on much longer, Nobel laureate Paul Krugman warns

The Iran conflict alone could cost the U.S. $200 billion. Add it to everything else happening, and the U.S. economy is teetering on a ledge.

Fortune

Brent crude hits $90 as Kuwait ‘starts cutting oil production’; shock as US economy loses 92,000 jobs in February – as it happened

Huge miss in US jobs report suggests labor market weakening, as Middle East crisis drives oil price higher and higher

The Guardian - UK

US offers India 30-day waiver to buy Russian oil amid Strait of Hormuz disruption

Indian refiners, whose supplies were stuck in the Gulf, have started buying Russian oil

The Independent UK

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‘We’re powerless … and hoping nothing hits us’: trapped on a tanker as Iran war escalates

Seafarer tells of explosions in the sky as thousands stuck on vessels after strait of Hormuz is effectively closed to shipping

The Guardian - UK

TikTok’s air fryer beans on toast might be the ultimate upgrade to a British classic

VIRAL BITES: Beans on toast has survived decades without much interference, but TikTok thinks it can improve it. The latest viral recipe swaps the frying pan for an air fryer – and the result might just make Britain’s favourite comfort meal even better, writes Hannah Twiggs

The Independent UK

Iran war briefing: US lets India buy Russian oil after energy prices jump

US claims temporary waiver won’t provide ‘significant financial benefit’ to Moscow; IDF strikes Lebanon after mass evacuation; Trump wants say in choosing Iran’s next leader. What we know on day seven

The Guardian - UK

Asia shares are mixed following Wall Street's losses, as oil edges lower

Asia shares are mixed following a mild retreat on Wall Street, while the price of oil fell more than $1 after reaching the highest level since the summer of 2024

The Independent UK

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The Iran war has triggered a fuel price rise. What does this mean for Australian consumers?

As many Australians prepare for the Labour Day long weekend, you might be watching the price at the fuel bowser with more trepidation than usual.

The Conversation

U.S. and Venezuela reach historic agreement to re-establish diplomatic ties

Doug Burgum met with Venezuela's acting president this week to discuss oil and mineral opportunities and secure a gold deal.

Axios

Pakistan left with 26 days of fuel, may impose work-from-home as Strait of Hormuz crisis deepens

Pakistan is implementing major measures to ensure fuel stability amid trade slowdown due to the Strait of Hormuz closure. Proposals include weekly price revisions, compensation for increased oil company costs, and fuel conservation. The country is exploring alternative import routes and has substantial existing fuel stocks.

The Times of India

Trump news at a glance: president shows Kristi Noem the door, but already has another job lined up for her

Firing of US homeland security secretary is first major personnel shakeup of Trump’s second term – key US politics stories from 5 March at a glance

The Guardian - US

Middle East war wipes $120b from local share market

Australia's share market has posted its worst weekly drop in almost a year, as oil prices continue to surge on the back of widening conflict in the Middle East.

AAP

Tehran warns Europe to stay out of conflict or face ‘retaliation’ – as it happened

This blog is now closed

The Guardian - UK

Why One Energy Expert Is Betting on These 3 Oil Stocks Now

Three energy stock ideas span upstream, refining and pipelines, showing why oil volatility, refining margins and midstream income may matter for investors right now.

MarketBeat

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The Independent UK

UK data watchdog writes to Meta over ‘concerning’ claims intimate footage filmed on smart glasses viewed by outsourced workers

Outsourced workers who are training the glasses’ AI claim they have been asked to watch videos of people having sex or on the toilet, it has been reported

Barchart

Soybeans Join the Thursday Rally, with Bean Oil Paving the Way

Soybeans were higher on Thursday led by the bean oil market, as the raw beans were up 3 to 9 ¾ cents at the close, led by the nearbys. The cmdtyView national average Cash Bean price was up 9 3/4 cents at $11.05 1/2. Soymeal futures were 50 cents to...

Barchart

Corn Rally on Thursday with Crude Oil Gains

Corn futures closed out Thursday trade with most contracts 6 to 9 ¾ cents higher. Some deferred contracts were steady to 4 ¾ cents in the green. Excellent Export Salse data and a crude oil market rallying $4.23 provided some support. The CmdtyView national average Cash Corn price was up...

Barchart

Cotton Closes Mixed on Thursday

Cotton futures rounded out Thursday with missed trade as most contracts were down 18 to 4 points higher and soon to expire March up 87 points. Thursday. Crude oil was up $4.23 on the day to $78.89. The US dollar index was back up $0.300 at $99.030. USDA Export Sales...

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We Got This Covered

The U.S. just seized 1,000 kilos of Venezuelan gold — and the deal comes with a twist

This is not an everyday trade agreement.

We Got This Covered

Iran targets Azerbaijan with drones and bombs Gulf tankers. Now the war is dragging in countries that never signed up

The Gulf is on fire.

Barchart

Stocks Finish Lower as War Rages in the Middle East

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.56%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.61%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.29%. March E-mini S&P futures (ESH26 ) fell -0.60%, and March E-mini Nasdaq futures...

International Business Times

Oil Surges Above $80 Per Barrel As Escalating Iran War Threatens Global Fuel Supplies

U.S. crude oil prices surged past $80 per barrel this week as escalating military conflict involving Iran disrupted global energy supply chains.

International Business Times UK

White House In Crisis Mode As Gas Prices Surge, Iran War Widens And Americans Left Stranded Overseas

The escalating conflict with Iran is causing global oil shocks, diplomatic crises, and economic disruptions, affecting energy markets and American citizens abroad.

The Times of India

US closes embassy in Kuwait after Iranian strikes as war spreads across Gulf

Amidst escalating Middle East tensions, the US Embassy in Kuwait has shut down following Iranian missile and drone strikes. These attacks, which killed six American soldiers and damaged the embassy, have spread to other Gulf capitals like Doha and Bahrain, disrupting air travel and oil shipments.

Barchart

Crude Oil Prices Surge as Iran War Upends Global Crude Flows

April WTI crude oil (CLJ26 ) on Thursday closed up +6.35 (+8.51%), and April RBOB gasoline (RBJ26 ) closed up +0.1560 (+6.20%). Crude oil and gasoline prices soared on Thursday, with crude posting a 19.5-month nearest-futures high and gasoline posting a 1.75-year high. Crude prices continue to climb as the...

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