The Latest Breaking News from Oil

MP warns of ‘blatant profiteering’ among home heating oil suppliers

Sudden volatility in the global oil trade due to Middle East disruption has caused prices to immediately soar.

Evening Standard · Mar 11

IEA orders largest ever release of stockpiled oil to reduce crude price

Members agree unanimously to release about 400m barrels amid market volatility caused by Iran war

The Guardian - UK · Mar 11

Why Japan keeps the world’s third-largest strategic Oil reserve

As global energy markets face unexpected imbalance due to the Middle East rising tensions, Japan prepares to release oil to maintain surging costs. Holding the third-largest strategic reserve globally, as stated by the International Energy Agency (IEA), Japan's massive 254-day buffer serves as a critical shield against supply shocks. While…

The Times of India · Mar 11

How Iran has used the strait of Hormuz to throttle oil and gas – a visual guide

The Tehran regime has weaponised geography in retaliation for the attacks by the US and Israel

The Guardian - UK · Mar 11

World’s energy watchdog orders emergency release of 400m barrels of oil to curb prices – as it happened

IEA’s oil release is largest in its history; UK government considering support schemes for households and businesses hit by surge in energy prices

The Guardian - UK · Mar 11

FTSE 100 Live 11 March: Oil tops $90 as index falls, lenders pull mortgage deals

Fears of prolonged disruption to shipping in the Strait of Hormuz today lifted the Brent Crude oil price to more than $90 a barrel.

Evening Standard · Mar 11

How the EU protects citizens and the economy in times of war and crisis

The fallout of the Israel-US-Iran war affects Europeans abroad and threatens the EU’s energy security and economy. What crisis measures is Brussels activating to respond? Watch the video.

Euronews · Mar 11

Oil steadies as IEA and G7 move to release record reserves

Oil is trading flat in expectation that the International Energy Agency could trigger the largest-ever release of oil reserves, exceeding the 182 million barrels in 2022 after Russia’s invasion of Ukraine. The G7 will also meet on Wednesday to discuss using the reserves.

Euronews · Mar 11

Why Iran’s vital Kharg Island oil hub is still untouched by US-Israel bombers

While some argue for destroying the terminal through which 90% of Iran’s oil exports flow, others caution of a global market ‘tailspin’

The Guardian - UK · Mar 11

Reaching net zero by 2050 ‘cheaper for UK than one fossil fuel crisis’

Climate change committee finds move to renewable energy would also bring health, economic and security benefits

The Guardian - UK · Mar 11