The Latest Breaking News from Oil

U.S. Eases Sanctions and Lets Companies Do Business With Venezuelan State-Owned Oil Company As Global Prices Surge Due To Iran War

It allows companies that existed before Jan. 29, 2025, to buy Venezuelan oil and engage in transactions that would normally be banned under U.S. sanctions, allowing Venezuela to reenter global markets.

Latin Times · Mar 18

Cold, damp and mouldy housing thought to be behind 40,000 hospital admissions as UK faces fresh cost of living crisis

Campaigners warn that the current oil and gas crisis is especially concerning in light of the link between poor housing conditions and serious illness

The Independent UK · Mar 18

US-Iran war Day 19 highlights: Mojtaba Khamenei releases rare revenge message, strikes hit airports and energy sites

Iran vows revenge after top security officials were killed in Israeli strikes, escalating the 19-day conflict. Energy infrastructure is hit, oil prices surge, and the war expands regionally with attacks in Saudi Arabia and the UAE. US intelligence notes Iran's government remains intact despite leadership losses, while global powers discuss…

The Times of India · Mar 18

Higher energy prices might eat your tax refund, economists say

New calculations from the Stanford Institute for Economic Policy Research suggest higher tax refunds will be offset by higher prices for crude oil and refined oil products.

Axios · Mar 18

The UK’s high electricity prices are here to stay. But could they offer an opportunity?

Four years after Russia’s invasion of Ukraine, the world is bracing for another energy crisis. The US-Israel bombing of Iran and then the blockade of the strait of Hormuz have forced up the price of oil. The price of natural gas in Europe has also risen sharply.

The Conversation · Mar 18

Crude Oil Jumps as Iran Said it Will Target Middle Eastern Oil Infrastructure

April WTI crude oil (CLJ26 ) today is up +2.83 (+2.94%), and April RBOB gasoline (RBJ26 ) is up +0.0907 (+2.90%). Crude oil and gasoline prices recovered from early losses and are sharply higher, with gasoline soaring to a 3.5-year high. Escalation of the Iran war is pushing energy prices...

Barchart · Mar 18

Global Economy at Tipping Point as Iran War Oil Surge Sparks Financial Crisis Fears

Economists warn the Iran war oil surge could slow US growth and drive inflation, with ripple effects across food, energy and global markets. Fears of a wider economic crisis are growing.

International Business Times UK · Mar 18

What is the Jones Act? Trump issues 60-day waiver of century-old law amid Iran war

The law, passed in 1920, aims to protect the American shipping sector

The Independent UK · Mar 18

Oil prices hit nearly $110 as Iran vows to escalate the war in ‘new ways’

Israel attacked the world’s largest natural gas field in a coordinated attack with the U.S.

Fortune · Mar 18

Oil surges to $110 a barrel after Israel strikes Iran's energy facilities

Brent crude oil prices surged to $110 a barrel after Israel attacked the largest gas plant and another oil facility in Iran. The Islamic Revolutionary Guard Corps of Iran (IRGC) reacted by announcing that some Gulf energy sites are "legitimate targets".

Euronews · Mar 18