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The Latest Breaking News from Oil

US bombs military sites on Iranian island as Trump threatens its oil infrastructure

President Donald Trump says the U.S. destroyed military sites on an island vital to Iran’s oil network and warned that the island’s oil infrastructure could be next if Iran continues to interfere with the passage of ships through the the Strait of Hormuz

The Independent UK

President renews call for allies to secure strait of Hormuz – as it happened

This blog is now closed.

The Guardian - US

Watch: Donald Trump shares 'unclassified' video of US bombing Iran's crucial oil hub Kharg Island

US President Donald Trump announced a major bombing raid on Iran's Kharg Island, sharing "unclassified" aerial footage. While claiming military targets were obliterated, Trump stated oil infrastructure was deliberately spared, warning of reconsideration if shipping through the Strait of Hormuz is threatened. Iran confirmed strikes but denied any infrastructure damage.

The Times of India

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Jet fuel prices are rising. That could make summer flights more expensive

Airline ticket prices are starting to climb as carriers respond to rising jet fuel costs tied to the war in Iran

The Independent UK

'White House now begging India': Iran FM Araghchi mocks US U-turn on Russian oil

Iran's foreign minister Araghchi slammed the US for pressuring India to stop Russian oil imports, only to now "beg" for such purchases. He also criticized Europe's stance on the Ukraine conflict. Meanwhile, Iran assured safe passage for Indian vessels through the Strait of Hormuz, highlighting strong India-Iran ties and shared…

The Times of India

'Heart of Iran's oil exports': US strikes Kharg Island — why it’s a big blow to Tehran

US President Donald Trump on Saturday announced that the United States had carried out strikes on Iran’s key oil export hub at Kharg Island. The US president said the operation targeted critical energy infrastructure linked to Iran’s oil trade.

The Times of India

Iran threatens to escalate war after Trump says ‘many countries’ will send warships to strait of Hormuz

US president calls on China, France, Japan and the UK to send vessels after US strikes Kharg Island oil facilities

The Guardian - UK

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Rachel Reeves vows to support households with rising energy costs as Middle East crisis hits oil prices

Reeves has pledged to support those battling with escalating energy bills amid the Middle East crisis

The Independent UK

Reeves drawing up plans to help with energy costs as Iran war continues

Chancellor Rachel Reeves will ‘take the necessary decisions to help families with the cost of living and protect the public finances’.

Evening Standard

'Totally obliterated': Trump announces US strike on Iran’s military targets at Kharg Island; spares oil infra

President Trump announced the US conducted a powerful bombing raid on Iran's Kharg Island, destroying military targets while sparing oil infrastructure. This action follows Iran's interference with shipping in the Strait of Hormuz and escalates the conflict involving the US, Israel, and Iran.

The Times of India

U.S. conducts massive bombing of strategic Iran Island, Trump says

Trump called the strike "one of the most powerful bombing raids in the History of the Middle East."

Axios

Soybeans Ease Lower into the Weekend

Soybeans rounded out the Friday session with contracts down 2 to 6 ¼ cents across the board, as May still held up for a 24 ½ cent gain. The cmdtyView national average Cash Bean price was down 2 cents at $11.50 1/4. Soymeal futures were down $1.60 to $2.50 higher...

Barchart

Cotton Posts Friday Rally

Cotton futures posted Friday gains of as little as 7 points in some deferreds, with front months up as much as 74 points. May was up 165 points on the week.. Crude oil was up $3.57 to $99.30, with the US dollar index up $0.776 to $100.530. CFTC data from...

Barchart

Trump’s bold promises for Hormuz collapse after one devastating truth from his own administration

The United States military isn’t ready to escort oil ships through the Strait of Hormuz, according to a top official in President Donald Trump’s administration, directly contradicting earlier suggestions from the president. This news comes as Iran continues to effectively block the crucial waterway, causing oil prices to surge worldwide.

The Mary Sue

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Axios

Trump turns to California offshore oil to help with Iran war

He invoked a Cold War-era law in a bid to boost oil production in the midst of the Iran war.

Euronews

NATO leaders call on Trump to reverse Russian oil sanctions suspension

The leaders of Canada, Germany and Norway are urging Trump to rethink his suspendion of Russian oil sanctions. In comments to Euronews, German Defence Minister Boris Pistorius said he is "concerned" at the potential impact on Ukraine.

Barchart

Iran War Drags Stocks Lower

The S&P 500 Index ($SPX ) (SPY ) on Friday closed down -0.61%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.26%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.62%. March E-mini S&P futures (ESH26 ) fell -0.60%, and March E-mini Nasdaq futures...

Kiplinger

What Are Home Heating Oil Prices Across the U.S.?

Home heating oil prices are high for most Americans. How much higher will they go as we head deeper into winter?

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Kiplinger

Stocks Extend Weekly Losing Streak: Stock Market Today

Efforts to boost crude supplies did little to stem worries of rising oil prices and inflation ahead of next week's Fed meeting.

Axios

Scoop: Trump eases Venezuela sanctions on oil, fertilizer to blunt Iran war costs

The bottleneck of tankers in the Persian Gulf because of Iranian attacks has caused the costs of oil and fertilizer, a petrochemical product, to jump.

We Got This Covered

Trump told G7 leaders Iran was ready to surrender. Iran’s new supreme leader has a very different message

This ain’t going as he had hoped.

Barchart

Dollar Rallies as Surging Oil Prices Spark Inflation Fears

The dollar index (DXY00 ) rallied to a 9.5-month high on Friday and finished up +0.65%. The dollar rallied on Friday as the war in Iran shows no signs of easing, threatening to keep crude oil prices elevated and prompting the Fed to hold off on cutting interest rates. Higher...

The Times of India

Romans used human feces as medicine: 1,900-year-old vial from Turkey reveals shocking treatment

A 1,900-year-old Roman glass bottle from Turkey has yielded direct chemical proof of ancient physicians using human feces as medicine. Scientists identified human excrement mixed with thyme oil, matching descriptions by the famed physician Galen. This discovery confirms ancient medical texts and offers a rare glimpse into Roman healing practices,…

Barchart

Crude Oil Prices Rally as Iran War Disrupts Global Supplies

April WTI crude oil (CLJ26 ) on Friday closed up +2.98 (+3.11%), and April RBOB gasoline (RBJ26 ) closed up +0.0768 (+2.59%). Energy prices settled sharply higher on Friday amid news headlines that whipsawed prices. Crude prices recovered from early losses and rallied sharply on Friday after the Wall Street...

Evening Standard

Vietnam War ghost rises over Trump as he sends thousands of US Marines to Middle East for Hormuz Strait battle

US military to deploy more forces to the region, as Iran continues to disrupt shipping and send oil prices soaring

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